Pengesahan Ketua Jabatan: Tarikh:

UNIVERSITI PENDIDIKAN SULTAN IDRIS

REKA BENTUK KURIKULUM KURSUS DAN PERANCANGAN INSTRUKSI Faculty Department Session Course Name Course Code Semester Course Type Credit Hours : : : : : : : : BUSINESS AND ECONOMICS DEPARTMENT ACCOUNTING AND FINANCE 2011/12 FINANCIAL ACCOUNTING 1 PAF2013 1 Major 3 Hours

LECTURERS INFORMATION: Lecturers Name: E-mail: Telephone No.: Room No.: NORIZAN BIN HJ SAAD [email protected] 05-4506169 T4-B22 Bangunan IPSI

COURSE SYNOPSIS:

This course in an extension to the Introductory to Accounting course. Students will apply the basic concepts of accounting in interpreting and preparing the financial statements. They will be able to evaluate current asset, current liabilities and owners equities. In addition, they will be able to analyze problem and apply the relevant concepts. Issues related to GAAP rules and Company Act 1965, objectives of accounting education in KBSM, and methods and techniques to teach accounting will also be discussed..

COURSE OBJECTIVES:

Upon completion of this course students should be able to: 1. Describe the characteristics of receivables, inventories, assets, partnership and corporations. 2. Journalize the accounting treatment for receivables, inventories and fixed assets. 3. Prepare the Partnership account and Statement of Cash Flow. 4. Analyze and interpret the financial position of a business using analytical measures.

LEARNING OUTCOMES: 1. Distinguish the activities and financial statements of a service business from those of a merchandise business (K4) 2. Identify the types of inventory used by merchandisers and manufacturers(K1) 3. Describes and illustrate the application of internal controls to cash( K2,K4) 4. Describe how depreciation expense is reported in an income statement, and prepare a balance sheet that includes fixed assets and intangible assets.(K2, K3) MAIN REFERENCE: John J.Wild,Winston Kwok.(2011). FINANCIAL ACCOUNTING :INFORMATION FOR DECSIONS. McGrawHill. Kimmel,Weygant,Kieso.(2007). Financial Accounting: Tools for business decision making (4thEd).John Wiley. REFERENCES: Horngren, C.T., Datar, S.M. and Foster, G. (2006). Cost Accounting: A Managerial Emphasis 12th ed. Pearson Prentice Hall. Baginski, S. P. & Hassell, J. M. (2004). Management Decisions and Financial Accounting Reports. (2nd ed.). New York: South-Western Publishing. Garrison, R. H., Noreen, E. W. & Brewer, P. C. (2006). Managerial Accounting. (11th ed.). New York: McGraw Hill. Hansen, D. R. & Mowen, M. M. (2000). Management Accounting. (6th ed.). New York: SouthWestern Publishing. Hansen, D. R. & Mowen, M. M. (2005). Cost Management: Accounting and Control. New York: South-Western Publishing. TEACHING METHODOLOGY: Lectures, discussions, sessions, presentations.

group

and

individual

assignments,

and

students

Identified Soft Skills for Evaluation:

SOFT SKILLS STRATEGIES Group Presentation (Fieldwork - company) Group Assignment (Fieldwork- company)

KOM

KBKM

PSK

PBPM

KU

ETIK

PIM

REMARKS

SOFTSKILL EVALUATION

Scale Criteria 5 Excellent 4 Above Average 3 Average 2 Below Average 1 Poor STUDENTS EVALUATION: Individual Assignment Group Assignment (Fieldwork company) Quizzes Mid-Term Examination Final Examination Total UPSI GRADING SCALES 15% 15% 10% 20% 40% 100%

Gred A AB+ B BC+ C CD+ D F

Julat Markah 80 100 75 79 70 74 65 69 60 64 55 59 50 54 45 49 40 44 35 39 0 34

PNG(S/K) 4.00 3.70 3.40 3.00 2.70 2.40 2.00 1.70 1.40 1.00 0

Taraf Cemerlang Cemerlang Kepujian Kepujian Kepujian Lulus Lulus Lulus Lemah Lulus Lemah Lulus Lemah Gagal

14-WEEK TEACHING SCHEDULE

Week.

Hour

Topic
Introducing Accounting in Business Importance of Accounting Fundamentals of Accounting Transactions Analysis and Accounting Equation Financial Statements

Learning Outcomes

1. Explain accounting is.

what

2.. State the basic accounting equation and explain the meaning of assets, liabilities, and owner's equity. 3. Analyze the effect of business transactions on the basic accounting equation. 4. Understand what the four financial statements are and how they are prepared Business activities, communicating with users, classified balance sheet, using the financial statements, financial reporting concepts, assumptions and principles in financial reporting.

Teaching & Learning Activities Lecture Group discussions Chapter exercises

Soft Skills KOM PBPM PSK

Rujukan

Jeffrey Waybright,

Chapter 1

Reporting and Analyzing Merchandising Operations Merchandising Activities Accounting for Merchandise Purchases Accounting for

1. Identify the differences between a service enterprise and a merchandiser. 2. Explain the entries for purchases under a perpetual inventory

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Jeffrey Waybright,

Chapter 5

Merchandise Sales Completing the Accounting Cycle

system. 3. Explain the entries for sales revenues under a perpetual inventory system. 4. Explain the steps in the accounting cycle for a merchandiser. Merchandising operations, recording purchases of merchandise, recording sales of merchandise, income statement presentation, evaluating profitability, recording merchandise transactions, recording purchases of merchandise, recording sales of merchandise.

6 3&4

Reporting and Analyzing Inventory Inventory Basics Inventory Costing under Perpetual System Inventory Cost Flow Assumptions Specific Identification First-In, First-Out Last-in, First-Out Weighted Average Financial Statements Effects of Inventory Methods Consistency in Using Costing Methods Inventory Costing under Periodic System (Appendix 5A) Valuation at Lower of Cost

1 .Describe the steps in determining inventory quantities. 2. Prepare the entries for purchases and sales of inventory under a periodic inventory system. 3. Determine cost of goods sold under a periodic inventory system. 4. Explain the financial statement and tax effects of each of the inventory cost flow methods. 5. Indicate the effects of inventory errors on the financial statements.. 6. Apply the inventory cost flow methods to perpetual inventory records. Classifying inventory, determining inventory quantities, inventory costing, analysis of

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Jeffrey Waybright,

Chapter 6

or Market and Effects of Inventory Errors

inventory, perpetual inventory systems.

Reporting and Analyzing Cash and Receivables Control of Cash Cash, Cash Equivalents and Liquidity Control of Cash Receipts Control of Cash Disbursements Accounts receivables Notes receivables 1. Identify the different types of receivables. . 2. Explain how accounts receivable are recognized in the accounts. 3. Distinguish between the methods and bases used to value accounts receivable. 4. Describe the entries to record the disposition of accounts receivable. 5. Compute the maturity date of and interest on notes receivable. 6. Explain the statement presentation and analysis of receivables Internal and cash control, reporting cash, managing and monitoring cash, petty cash fund, types of receivables, accounts receivable, notes receivable, managing receivables, financial statements presentation of receivables. 1. Describe the application of the cost principle to plant assets. 2. Explain the concept of depreciation. 3. Compute periodic depreciation using different methods. 4. Distinguish between revenue and capital

Lecture Group discussions Chapter exercises

Jeffrey Waybright,

5&6

Chapter 9

7&8

Reporting and Analyzing Long-Term Assets Plant Assets Cost Determination Depreciation Disposals of Plant Assets

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Jeffrey Waybright,

Chapter 10

Natural Resources Cost Determination and Depletion Intangible Assets Cost Determination and Amortization Types of Intangibles

expenditures, and prepare the entries for these expenditures. 5. Indicate how plant assets, natural resources, and intangible assets are reported and analyzed. Determining the cost of plant assets, accounting for plant assets, analyzing plant assets, intangible assets, accounting for intangible assets, financial statement presentation of long lived assets.

Partnership

9&10

Characteristics of a Partnership Advantages and Disadvantages of Partnership Accounting for Partnership Sharing Profits and Losses Partner Drawings of Cash and Other Assets Admission and Withdrawal of a Partner Liquidation of a Partnership

1. Explain the accounting entries for the formation of a partnership. 2. Apply various bases dividing net income or net loss 3. Describe the form and content of partnership financial statements. 4. Explain the effects of the entries when a new partner is admitted. 5. Describe the effects of the entries when a partner withdraws from the firm. Characteristics of partnership, organizations with partnership, basic partnership accounting, forming a partnership, dividing net income or net loss, partnership financial statement,

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Kimmel,Kieso Waeygant.(2007), Chapter 12

Partnership Financial Statements

admission and withdrawal partners. Reporting and Analyzing Equity Corporate Form of Organization Common Stock Preferred Stock Dividends Treasury Stock Statement of Retained Earnings 1. Identify the major characteristics of a corporation. 2. Differentiate between paid-in capital and retained earnings. 3. Differentiate preferred stock from common stock.. 4. Prepare a stockholders' equity section.. 5. Compute book value per share. Stockholder rights, stock issue considerations, authorized stock, issuance of stock, par and no-par value stocks, accounting for common stock issues. Accounting for treasury stock, preferred stock, dividends, retained earnings, measuring corporate performance. 1. Indicate the primary purpose of the statement of cash flows. 2. Distinguish among operating, investing, and financing activities. 3. Prepare a statement of cash flows using the indirect method. 4. Prepare a statement of cash flows using the direct method.
Lecture Group discussions Chapter exercises KOM PBPM PSK

11

Jeffrey Waybright,

Chapter 13

Statement of Stockholders Equity

12

Reporting and Analyzing Cash Flows Basics of Cash Flow Reporting Cash Flows from Operating Activities Cash Flows from Investing Activities

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Jeffrey Waybright,

Chapter 17

Cash Flows from Financing Activities

5. Analyze statement flows..

of

the cash

Analyzing Financial Statements Basics of Analysis Horizontal Analysis Vertical Analysis

13

Ratio Analysis +

usefulness of the statement of cash flows, classified of cash flows, significant noncash activities, format of the statement of cash flows, preparing the statement of cash flows, indirect and direct methods. 1. Discuss the need for comparative analysis 2. Identify the tools of financial statement analysis. 3. Explain and apply horizontal (trend) analysis. 4. Describe and apply vertical analysis. Sustainable income, comparative analysis, ratio analysis, quality of earnings, pro forma income, improper recognition, priceearnings ratio.

Lecture Group discussions Chapter exercises

KOM PBPM PSK

Jeffrey Waybright,

Chapter 17

14

Revisions