ACCT103-20S2 (C) Semester Two 2020

Accounting and Taxation: An Introduction

15 points

Details:
Start Date: Monday, 13 July 2020
End Date: Sunday, 8 November 2020
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Friday, 24 July 2020
  • Without academic penalty (including no fee refund): Friday, 25 September 2020

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.

Pre-requisites

Restrictions

ACIS103, AFIS101, AFIS103, AFIS111, AFIS121, AFIS131

Timetable 2020

Students must attend one activity from each section.

Lecture A
Activity Day Time Location Weeks
01 Monday 16:00 - 17:00 C2 Lecture Theatre
13 Jul - 23 Aug
7 Sep - 18 Oct
02 Monday 16:00 - 17:00 Online Stream - students based in NZ 13 Jul - 23 Aug
7 Sep - 18 Oct
03 Monday 16:00 - 17:00 Online Stream - students based overseas 13 Jul - 23 Aug
7 Sep - 18 Oct
Lecture B
Activity Day Time Location Weeks
01 Tuesday 16:00 - 17:00 A2 Lecture Theatre
13 Jul - 23 Aug
7 Sep - 18 Oct
02 Tuesday 16:00 - 17:00 Online Stream - students based in NZ 13 Jul - 23 Aug
7 Sep - 18 Oct
03 Tuesday 16:00 - 17:00 Online Stream - students based overseas 13 Jul - 23 Aug
7 Sep - 18 Oct
Lecture C
Activity Day Time Location Weeks
01 Wednesday 16:00 - 17:00 A2 Lecture Theatre
13 Jul - 23 Aug
7 Sep - 18 Oct
02 Wednesday 16:00 - 17:00 Online Stream - students based in NZ 13 Jul - 23 Aug
7 Sep - 18 Oct
03 Wednesday 16:00 - 17:00 Online Stream - students based overseas 13 Jul - 23 Aug
7 Sep - 18 Oct
Drop in Class A
Activity Day Time Location Weeks
03 Friday 13:00 - 14:00 Zoom 31 Aug - 6 Sep
04 Tuesday 10:00 - 11:00 Zoom 7 Sep - 13 Sep
Tutorial A
Activity Day Time Location Weeks
01 Wednesday 10:00 - 11:00 Ernest Rutherford 141 13 Jul - 23 Aug
7 Sep - 18 Oct
02 Wednesday 11:00 - 12:00 Link 309 Lecture Theatre 13 Jul - 23 Aug
7 Sep - 18 Oct
03 Thursday 11:00 - 12:00 Psychology - Sociology 456 13 Jul - 23 Aug
7 Sep - 18 Oct
04-P1 Wednesday 09:00 - 10:00 Jack Erskine 121
17 Aug - 23 Aug
04-P2 Friday 10:00 - 11:00 Link 309 Lecture Theatre
13 Jul - 16 Aug
7 Sep - 18 Oct
05 Thursday 10:00 - 11:00 Karl Popper 612 13 Jul - 23 Aug
7 Sep - 18 Oct
06-P1 Thursday 15:00 - 16:00 Jack Erskine 445 17 Aug - 23 Aug
06-P2 Friday 11:00 - 12:00 Jack Erskine 445 13 Jul - 16 Aug
7 Sep - 18 Oct
07 Friday 13:00 - 14:00 Karl Popper 612 13 Jul - 23 Aug
7 Sep - 18 Oct
08 Thursday 16:00 - 17:00 Online Delivery 13 Jul - 23 Aug
7 Sep - 18 Oct
09 Thursday 16:00 - 17:00 Online Delivery 13 Jul - 23 Aug
7 Sep - 18 Oct

Examination and Formal Tests

Test A
Activity Day Time Location Weeks
01 Thursday 18:30 - 20:30 Rehua 005 17 Aug - 23 Aug
02 Thursday 18:30 - 20:30 Rehua 009 17 Aug - 23 Aug
03 Thursday 18:30 - 20:30 Rehua 102 17 Aug - 23 Aug

Course Coordinator / Lecturer

Catherine McMillan

Lecturer

Adrian Sawyer

Tutor

Helen Wright

Assessment

Assessment Due Date Percentage 
Learning Reflections 10%
Tutorial Attendance 10%
MYOB Project 15%
Term Test (2 hours) 25%
Final Exam (3 hours) 40%

Textbooks / Resources

Required Texts

Carlon, Shirley; Financial accounting : reporting, analysis and decision making; Sixth edition; John Wiley & Sons Australia, Ltd, 2019.

The printed version of text is available for purchased in the university bookshop.
An electronic version of the text in a word searchable format can be purchased online:
https://www.wileydirect.com.au/buy/financial-accounting-reporting-analysis-and-decision-making-6th-edition/

Course links

Learn

Notes

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

Indicative Fees

Domestic fee $822.00

International fee $3,688.00

* 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