ACCT103-18S2 (C) Semester Two 2018

Accounting and Taxation: An Introduction

15 points, 0.1250 EFTS
16 Jul 2018 - 18 Nov 2018

Description

The course introduces taxation and accounting in the context of service, retail, manufacturing, tourism, farming and construction businesses. It includes the rudiments of bookkeeping and the preparation of reports about cash flows, profits and accumulating capital and wealth. It caters for accounting and taxation majors, and for entrepreneurially-minded students contemplating running their own businesses.

The course introduces taxation and accounting in the context of service, retail, manufacturing, tourism, farming and construction businesses. It includes the rudiments of bookkeeping and the preparation of reports about cash flows, profits and accumulating capital and wealth. It caters for accounting and taxation majors, and for entrepreneurially-minded students contemplating running their own businesses.

While attracting Bachelor of Commerce students who are majoring in Accounting or Taxation and Accounting, and have aspirations for membership of professional bodies of accounting (see Professional Body Academic Requirements below), ACCT103 is of wider interest inside the Commerce degree and outside, particularly for Law, Arts, Sciences, Humanities and Engineering students contemplating administering their small businesses. Students learn how to account for a variety of transactions and how to prepare financial reports in accordance with normal practices. For Commerce degree students, ACCT103 complements ACCT102’s financial information readership perspective.

Professional Body Academic Requirements
ACCT103 is a prerequisite course for ACCT211: Financial Accounting, ACCT212: Accounting Career Attributes and Skills, ACCT254: Introduction to Taxation, ACCT332: Advanced Management Accounting, and INFO243: Accounting Information Systems. These (and other) courses are essential for students wishing to complete the academic requirements of the Chartered Accountants of Australia and New Zealand (CA ANZ), the Certified Practising Accountants of Australia (CPAA), or the Association of Chartered Certified Accountants (ACCA), among others.   More information about professional body requirements is available under Accounting Institutes on the ACIS Department website and from the student advisors in the College Office.

Learning Outcomes

By the end of this course the student should be able to:
1. Explain and apply principles and praxis of financial reporting about organisations in the context of preparing and supplying information to internal and external users.
2. Explain taxation concepts, including taxable entities, and income and capital for taxation purposes; apply those concepts to rudimentary cases.
3. Describe, explain and apply the double entry system of bookkeeping within arrange of accounting entities by using an accounting software including ones having the following legal forms: sole traders, partnerships, stand-alone limited companies and iwi organisations.
4. Distinguish revenue, expenses, assets (including inventory, receivables, and property, plant and equipment), liabilities and capital of business entities.
5. Prepare financial records for service, transport, retail and manufacturing businesses.
6. Prepare, from the records referred to in 5, classified general-purpose financial reports, including statements calculating costs, trading profits and organisational cash flows, and reconciling assets, liabilities and capital, all within a regulatory framework for general-purpose financial reports.
7. Prepare classified control reports comparing revenue and expenses with budgets, for departments or responsibility centres of businesses.
8. Explain and apply valuation concepts for assets and liabilities.

University Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attributes specified below:

Critically competent in a core academic discipline of their award

Students know and can critically evaluate and, where applicable, apply this knowledge to topics/issues within their majoring subject.

Employable, innovative and enterprising

Students will develop key skills and attributes sought by employers that can be used in a range of applications.

Biculturally competent and confident

Students will be aware of and understand the nature of biculturalism in Aotearoa New Zealand, and its relevance to their area of study and/or their degree.

Globally aware

Students will comprehend the influence of global conditions on their discipline and will be competent in engaging with global and multi-cultural contexts.

Restrictions

ACIS103, AFIS101, AFIS103, AFIS111, AFIS121, AFIS131

Co-requisites

Timetable 2018

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Monday 14:00 - 15:00 C3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Lecture B
Activity Day Time Location Weeks
01 Tuesday 11:00 - 12:00 C3 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Lecture C
Activity Day Time Location Weeks
01 Wednesday 15:00 - 16:00 A2 Lecture Theatre 16 Jul - 26 Aug
10 Sep - 21 Oct
Tutorial A
Activity Day Time Location Weeks
01 Friday 10:00 - 11:00 Jack Erskine 446 16 Jul - 26 Aug
10 Sep - 21 Oct
02 Thursday 15:00 - 16:00 West 212 16 Jul - 26 Aug
10 Sep - 21 Oct
03 Friday 10:00 - 11:00 Jack Erskine 443 16 Jul - 26 Aug
10 Sep - 21 Oct
04 Thursday 16:00 - 17:00 West 212 16 Jul - 26 Aug
10 Sep - 21 Oct
05 Wednesday 13:00 - 14:00 Geography 602 16 Jul - 26 Aug
10 Sep - 21 Oct
06 Monday 16:00 - 17:00 Ernest Rutherford 141 16 Jul - 26 Aug
10 Sep - 21 Oct
07 Wednesday 14:00 - 15:00 Ernest Rutherford 460 16 Jul - 26 Aug
10 Sep - 21 Oct

Course Coordinator

Julia Wu

Lecturers

Alistair Hodson and Keith Dixon

Tutor

Helen Wright

Textbooks

Required Texts

Mitrione, Lorena; Principles of financial accounting; 3rd ed; John Wiley and Sons Australia, 2013.

Course links

Learn

Notes

Note:  Students who have not studied accounting in high school should study ACCT102 first.

Indicative Fees

Domestic fee $790.00

International fee $3,350.00

* Fees include New Zealand GST and do not include any programme level discount or additional course related expenses.

For further information see Department of Accounting and Information Systems on the department and colleges page.

All ACCT103 Occurrences