1. NAME OF COURSE  / MODULE BUSINESS ACCOUNTING
2. COURSE CODE MAB1033
3. NAME(S) OF ACADEMIC STAFF  
4. RATIONALE FOR THE INCLUSION OF THE COURSE/MODULE IN THE PROGRAMME This course offers to the non-accounting students in Faculty of Economics and Muamalat. It introduces them to the accounting aspects in a business environment. The students are equipped with the basic knowledge in accounting particularly recording business transactions in accounting books and management accounting tools employed for planning and controlling a business entity. It is important to have accounting exposures in the process of recording, classifying, summarizing and interpreting business transactions for better business decision in addition to the process of planning, monitoring and controlling a business..
5. SEMESTER & YEAR OFFERED Semester 3 / Year 2
6. TOTAL STUDENT LEARNING TIME (SLT) Face to face:

L T P O
28 26 6

L=lecture ; T=Tutorial; P=Practical; O=Others (Exam)

Total Guided and Independent Learning:

125
7. CREDIT VALUE 125/40 = 3.125 (3 credit); 2+2
8. PREREQUISITE (IF ANY) NIL
9. OBJECTIVES 1. To introduce student with basic knowledge of accounting, accounting concepts and its application in recording business transactions .

2. To explain the purpose of internal control, cash control and how to prepare bank reconciliation

3. To explain the purpose of the statement of cash flows and describe its elements

4. To evaluate business performance using various tools in financial accounting

10. LEARNING OUTCOMES At the end of the course, learners will be able to:

1. Define accounting, its importance and relate the appropriate accounting concept in accounting records. (LO1-C2)

2. Prepare accounting records for a sole proprietorship.(LO2-P2)

3. To prepare and analyze bank reconciliation and cash flow (LO3-C3-CTPS 2)

4. To interpret in both conventional Islamic perspectives. (LO4-CS3-P2)

11. TRANSFERABLE SKILLS The syllabus is designed to develop communication, presentation and teamwork skills. It also enhances the basic accounting skills through application of the basic accounting principles.

The syllabus is assessed by a two-hour paper-based examination, tests, quizzes, group-based project, and presentation. Questions will assess all parts of the syllabus and will include computational and non-computational elements.

12. TEACHING-LEARNING AND ASSESSMENT STRATEGY Teaching-learning strategy:

· The course will be taught through a combination of formal lectures, exercise, group work, using authentic materials, informal activities and various textbooks. Collaborative teamwork will be fosters throughout the course. The use of examination and internal reporting assessment will assess the student’s ability to apply theoretical concept in context.

Assessment strategy:

· Formative

· Summative

13. SYNOPSIS This is an introductory course in accounting. It introduces the students to the principles and procedures involved in recording business transactions that build the financial statements (including income statement and balance sheet). This course also highlights on the preparation of bank reconciliation, cash flows, and also the financial statement analysis.  The interpretation financial analysis will also include how it should be interpreted based on Islamic perspective.  This course will be conducted through lectures, tutorials and assignments, tutorials and assignments.
14. MODE OF DELIVERY Lectures and tutorial (SCL)
15. ASSESSMENT METHODS AND TYPES
Component %
Continuous Assessment 50
Final examination 50
Total 100
16. CONTENT OUTLINE OF THE COURSE/MODULE AND SLT PER TOPIC
Topic Lecture Tutorial Test/Quiz/Exam Assignment Assessment (Library Search) Self-study Total
Introduction to Accounting 2 2 3 7
Analyzing and Recording Transactions 6 6 9 21
Adjusting Entries and Completing Accounting Cycle 8 8 12 28
Merchandising Operations 4 4 6 14
Internal Control and Cash 2 2 3 7
The Statement of Cash Flows 4 4 6 14
Financial Statement Analysis 4 4 6 14
Continuous Test/Quiz/Assessment 5 10 15
FINAL 3 9 12
TOTAL 30 23 8 0 19 45 125
17. REFERENCES Main reference:

1. Weygandt, Kieso, Kimmel, 2010. Accounting Principles. 11th Edition, John Wiley & Sons (Asis) Pte Ltd.

Additional references:

1. Rosnia, M et. al. 2012. Business Accounting. 1st Edition. USIM. (Main text)

2. Wood, F. and Sangster, A. 2006. Business Accounting 1. 11th Edition, FT Prentice Hall.

3. Andrew, L and Wong, S.V. 2009. Business Accounting. 2nd Edition. Pearson Prentice Hall.

4. Horngren, Charles T., Harrison, Walter T and Bamber, Linda S. 2005. Management and Cost Accounting. 6th Edition. Pearson Prentice Hall.

5. Weygandt, Kieso, Kimmel, 2007. Accounting Principles. 8th Edition, John Wiley & Sons (Asis) Pte Ltd.

6. Meigs, Robert F. Williams, Jan R., Haka, Susan F and Bettner, Mark S. 2005. Financial Accounting. 10th Edition, Irwin McGraw-Hill.

7. Financial Reporting Standards (FRS)

8. Accounting and Auditing of Islamic Financial Institutions (AAOIFI) Standards.

 

Mapping of the course/module to the Programme Learning Outcomes

TOPIC

Contact hours (week)

Lesson Learning Outcome (Students are able to…)

CLO KI Teaching & Learning Activities Assessment Tasks
Topic 1: Introduction to Accounting

·Importance of Accounting

·Fundamentals of Accounting

·Transaction Analysis and the Accounting Equation

·Financial Statements

4 1.Define the meaning and function of accounting

2.Define and introduce the concept of double entry, accounting equation and the effects of transaction on the accounting equation and financial statements

3.Identify the users of financial statements and describe their information needs

LO1 C2  

·Lecture

·Tutorial activity –

group discussion

 

Quiz 1

Topic 2: Analyzing and Recording Transactions

·Analyzing and Recording Transactions

-Source Documents

-The Account and Its Analysis

·Analyzing and Processing Transactions

-Double Entry Accounting

-Journalizing and Posting Transactions

-Analyzing Transactions

-Accounting Equation Analysis

·Trial Balance

-Preparing a Trial Balance

-Using Trial Balance to Prepare Financial Statements

12 1.Describe the documents and transactions that re recorded in each f the journal

2.Explain the principles of double entry

3.Describe the format and contents of ledger accounts

4.Prepare the trial lance

LO1 C2  

 

·Lecture

·Tutorial activity –

Exercises and group discussion

 

 

·Quiz 2

 

Topic 3: Adjusting Entries & Completing Accounting Cycle

·The needs for adjustments

·Accruals and cash basis accounting

·Adjustments for accruals and prepayments, depreciation, doubtful debts and bad debts

·Statement of Comprehensive Income, Statement of Financial Position and Worksheet

 

16

1.Explain the conceptual foundation of accruals and prepayment

2.Compute the amount of depreciation by using different methods

3.Explain the  nature of bad debts and provisions for doubtful debts

4.Show the entries for accruals and prepayment depreciation and bad debts in journal, ledger, income statement and balance sheet

 

LO2

 

P2

 

·Lecture

·Tutorial activity –Exercises and group   discussion

 

Class exercise

 

Test 2 4
Topic 4: Merchandising Operations

·The operation cycle of a merchandising business

·Inventory systems: Perpetual and Periodic

·Adjusting and closing the accounts

4  

 

LO2 P2 ·Lecture

·Tutorial activity –Exercises and group   discussion

·Quiz 3
Topic 5: Internal Control and Cash

·Describe an internal control system.

·Apply internal controls for cash and prepare a bank reconciliation.

·Record journal entries for the petty cash fund.

·Report cash on the balance sheet

4 1.Explain the purpose and nature of bank reconciliation

2.Identify and correct errors and commissions in a cash book

3.Prepare a bank reconciliation statement

LO3 C3

CTPS 2

·Lecture

·Tutorial activity –Exercises and group discussion

·Feedback  on tutorial activity (individual and group discussion)
Topic 6: The Statement of Cash Flows

·Explain the purposes of the statement of cash flows and describe its elements.

·Distinguish between operating, investing, and financing cash flows.

·Prepare a statement of cash flows by the indirect method.

·Prepare a statement of cash flows by the direct method

8 LO3 C3

CTPS 2

·Lecture

·Tutorial activity –Exercises and group discussion

·Feedback  on tutorial activity (individual and group discussion)

·Quiz 4

Topic 7: Financial Statement Analysis

·Explain the purpose of financial statement analysis.

·Perform a horizontal analysis of comparative financial statements.

·Perform a vertical analysis of financial statements and prepare common-size financial statements.

·Compute commonly used financial ratios

4 1.Explain the purpose of analysis

2.Compute and explain various measures of a company’s performance, solvency & liquidity, appraisal of working caital, turn and risk on investment and capital gring

3.Explain the limitation of ratio analysis

LO4 CS3

P2

·Lecture

·Tutorial activity –Exercises and group presentation

·Feedback

on tutorial

activity

(individual and  group discussion)