BUSN9035 Business Accounting

2020

4.5

1 x 2-hour lecture weekly
1 x 1-hour tutorial weekly

1 Admission into MBUSWS-Master of Business
1a Admission into MBUSFN-Master of Business (Finance)
1b Admission into MBUSHR-Master of Business (Human Resource Management)
1c Admission into MBUSIB-Master of Business (International Business)
1d Admission into MBUSMK-Master of Business (Marketing)
1e Admission into MENGM-Master of Engineering Management
1f Admission into GDPENGM-Graduate Diploma in Engineering Management
1g Admission into GCENGM-Graduate Certificate in Engineering Management
Must Satisfy: ((1 or 1a or 1b or 1c or 1d or 1e or 1f or 1g))

The topic introduces students to the way in which a manager utilises accounting, finance, and information systems in decision making. The topic provides students with a solid grounding in accounting fundamentals including statements of comprehensive income, balance sheets, changes in equity and cash flows. Emphasis will be placed on how to assess an organisation's current cash flow and profitable position together with how to deal with internal and external environmental complexities and constraints. Students will be involved in the formulation, implementation, and control of an organisation's accounting, internal controls, and financial statements, and will produce and interpret performance ratios.

The topic consists of four main parts:

1. The accounting environment and accounting reports - their nature and use.
2. The recording and external reporting focus.
3. .Accounting and financial management.
4. Accounting for management decisions.

This topic aims to provide an insight and understanding of the accounting process, specifically to increase understanding of what managers must do to make an organisation financially successful. No prior knowledge of accounting or work experience is expected. You will learn how to assess an organisation's current cash flow and profitable position together with how to deal with internal and external environmental complexities and constraints. An overview is provided on how businesses formulate, implement and control accounting practices. Topics covered include internal controls, financial statements and performance ratios. Cognitive skills are applied to analysing accounting information and evaluating options. Behavioural skills (especially personal and interpersonal skills) are applied in explaining and presenting different options.

On successful completion of this topic, students will be able to:

1. Describe the basic concepts and principles of accounting
2. Recognise different accounting reports as applied to different business entities
3. Prepare an accounting worksheet and a simplified Income Statement and Balance Sheet
4. Explain the importance of cash flow and distinguish between accrual and cash-based transaction recognition
5. Discuss the components of the Cash Flow Statement and its significance in strategic decision making
6. Use ratio analysis to identify the key aspects of financial performance and financial position, identify limitations of ratios analysis and evaluate alternative techniques
7. Explain the importance of a detailed understanding of cost behaviour, distinguishing between fixed and variable costs to determine a break-even point.