General Information
This course prepares managers in their use of accounting information to aid in making evidence based decisions. This includes developing and understanding of financial statements from a user perspective to examine the financial reporting process. Particular emphasis is given to the underlying concepts and forms of both external and internal reporting. Concepts and methods involved in the preparation and interpretation of balance sheet as a statement of business value, profit and loss reports, and cash flow statements are examined, as well as an introduction to cost accounting through coverage of the roles of budgeting (preparation of a master budget), cost concepts, classifications and cost-behaviour patterns, and systems to accumulate and allocate costs are also considered with case studies and examples of their use in management decision making.
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Details
Academic unit: Bond Business School Subject code: GMBA71-201 Subject title: Accounting for Decision Making Subject level: Postgraduate Semester/Year: September 2022 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Online Workload items: - Directed Online Activity: x12 (Total hours: 24) - Webinar 1
- Personal Study Hours: x12 (Total hours: 96) - Recommended study time & reviewing materials
Attendance and learning activities: Participation in all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. The delivery mode requires regular attendance to maximise learning opportunities and participation in the discussions enhances your understanding of the content. Each week builds on the work of the previous one. It is difficult to recover if you miss watching the videos, reading the materials and practicing the revision questions. Attendance in VC's will be monitored, and could impact the final mark in this subject. -
Resources
Prescribed resources: Books
- Ken Trotman,Elizabeth Carson (2019). Financial Accounting: An Integrated Approach. 7th Ed., Cengage AU 720
iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
| Academic unit: | Bond Business School |
|---|---|
| Subject code: | GMBA71-201 |
| Subject title: | Accounting for Decision Making |
| Subject level: | Postgraduate |
| Semester/Year: | September 2022 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Online |
| Workload items: |
|
| Attendance and learning activities: | Participation in all scheduled sessions is expected. Students are expected to notify the instructor of any absences with as much advance notice as possible. The delivery mode requires regular attendance to maximise learning opportunities and participation in the discussions enhances your understanding of the content. Each week builds on the work of the previous one. It is difficult to recover if you miss watching the videos, reading the materials and practicing the revision questions. Attendance in VC's will be monitored, and could impact the final mark in this subject. |
| Prescribed resources: | Books
|
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.
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| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Read financial statements, know their uses, and be aware of their limitations. As such, students will be able to communicate in the "language of business".
- Perform and communicate a critical analysis of financial performance using contemporary ratio analysis.
- In managerial positions, better appreciate the impact of their day-to-day decisions and policies on the performance of their organisation and understand how parties, internal and external to their organisation, will interpret the reporting of those decisions.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Computer-aided Test (Closed) 3 x Tests 15% Week 3 1,2,3 Computer-aided Test (Closed) On-line Test 15% Week 6 1,2 Written Report Company Financial Analysis - Business Report 30% Week 10 2,3 Computer-Aided Examination (Open) Comprehensive On-Line Examination 40% Non-Standard Examination Period 1,2,3 - * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Computer-aided Test (Closed) | 3 x Tests | 15% | Week 3 | 1,2,3 |
| Computer-aided Test (Closed) | On-line Test | 15% | Week 6 | 1,2 |
| Written Report | Company Financial Analysis - Business Report | 30% | Week 10 | 2,3 |
| Computer-Aided Examination (Open) | Comprehensive On-Line Examination | 40% | Non-Standard Examination Period | 1,2,3 |
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Bond University utilises Originality Reporting software to inform academic integrity.Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected. Enrolled students will find a full list of prescribed and additional resources on iLearn and AirCampus.
Subject curriculum
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Introduction to Accounting
Introduction to Accounting defines accounting and discusses the services accountants provide to business entities. Examines the differences between financial and management accounting. The topic covers the legal framework for business entities, the accounting standards and professional standards, corporate financial reporting structures and basic accounting concepts and principles. Introduces students to public online financial data sites.
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Measuring & Evaluating Financial Performance
The rules of debit and credit are introduced as the double entry system of accounting to capture business transactions and produce financial statements. Students will focus on the composition of the Balance Sheet and Income Statement, reviewing different presentation formats, their various accounting elements, and how these two financial statements are connected through Retained Earnings. Students will compare three different business structures (sole trader, partnership, and company) and how reporting Equity differs between the structures.
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The Complete Accounting Cycle
Now that students have a good understanding of the accounting elements, attention is directed towards how to record transactions. Students learn how to translate business events by applying the debit and credit rules of the accounting equation into journals and to use ledger accounts to summarise transactions for an accounting period, focusing on adjusting journals for accrual accounting. The Income Statement and Balance Sheet are then prepared. This week introduces the use of spreadsheet software to record business transactions.
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Current Assets
This topic begins to focus on the Balance Sheet and financial position of organisations at reporting time. Cash and components of Internal Controls, valuation methods for Accounts Receivables & Inventory, the nature and purpose of Working Capital, accounting policy choices and their impact on financial statements are all examined.
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Non-Current Assets
The topic continues to cover Assets on the Balance Sheet. Accounting for non-current assets: property, plant & equipment and intangibles. Depreciation and amortisation calculations, Goodwill, Impairment & Balance Sheet valuations as presented on the Balance Sheet. The life cycle of assets including acquisition, disposal, depreciation and revaluation of property, plant and equipment are examined.
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Liabilities and Equity
A continuation on the use of the Balance Sheet reporting on Current and Non-Current Liabilities and Equity. The main sources of internal and external finance, explaining the relationship between gearing and the financing decision and ways in which long term finance can be raised. Equity business transactions including accounting for share issues, dividends and other transactions impacting shareholder's equity are covered. Discussions include business ethics.
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CSR and Sustainability
Corporate Social Responsibility and Sustainability are discussed. The growing importance to investors for companies to be involved in social issues and their influence on strategies is examined. Current methods to measure CSR covered are TBL reporting, GRI, balanced scorecard.
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The Cash Flow Statement
Introduces the Cashflow Statement. The purpose of the Cashflow Statement for investors is discussed, illustrating how the report can be useful for identifying cashflow management strengths, weaknesses and opportunities, both historically and in forecasting and planning. The importance of cash, cash flow, and the statement of cash flow, is presented, including the process of reconciling profit with cash from operations.
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Financial Statement Analysis
Tools and techniques to assist in analysing and interpreting information contained in financial statements. Horizontal, vertical and ratio analysis are introduced to provide a full analysis of company financial performance and position as well as investment decision outcomes. Limitations of ratio analysis are discussed. The influences of Accounting Policy choices on financial statement ratios is also considered.
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Management Accounting
This topic looks at the management accounting system, outlining the role it plays within an organisation and discuss the differences between financial and management accounting. Students are introduced to new cost concepts and how costs are classified for decision making. The importance of management accounting in achieving an organisation's strategic objectives is discussed.
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Cost Volume Profit (CVP) & Sensitivity Analysis
Introduces the concept of short term decision making and includes the behaviour of costs, the calculation of break-even points, profit planning and sensitivity analyses. Longer term profit strategies compared to increased short term profit decisions are considered.
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Budgeting
This topic covers how strategic decisions can be implemented. Planning and control, budgets and forecasts, cash budgets, preparing components of the master budget are all examined. The use of budgets for control, limitations and behavioural implications of budgeting are also discussed.