AGW610 COURSE OUTLINE SEM 1 2013-14.pdf

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Reputable Graduate Busin ess

School for a Sustainable

Tomorrow

AGW 610/3Finance and Accounting for Management

Graduate School of BusinessUniversiti Sains Malaysia

COURSE OUTLINE

Lecturers: Dr. Fathyah Hashim/ Assoc. Prof. Dr. Azlan AmranSemester: Semester 1, Academic Session 2013/ 2014



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AGW 610Finance and Accounting for

Management

Teaching Panel

Name Room # Email

Dr. Fathyah Hashim D05-C-06 [email protected]; [email protected]

AP Dr. Azlan Amran D05-B-03 2788 [email protected]

The Rationale for Inclusion of the Course in the Programme

Welcome to AGW 610, Finance and Acc oun ting for Management

This course is a core for those undertaking the Master of Business Administration. Itprovides principles, theories, concepts, practices, interpretations, techniques, strategies andissues of accounting and finance which are essential for business leaders for managing anorganisation.

This course covers the core knowledge of the essential features of financial accounting,management accounting and financial management from the perspective of a non-businessmajor. It is highly practical course that will help participants to increase your explaining of theuse of accounting and finance in the business context. It will increase your confidence andexplaining in financial matters, develop your skills in analysing and interpreting financial andnon-financial information, particularly in the context of the organisation's strategy, itscompetitors and its industry in a global market.

This course also incorporates relevant topics for business leaders or entrepreneurs to bebetter at decisions making and problems solving, both on day-to-day matters and investmentdecisions, increase your ability to communicate effectively with company accountants andexplain how and why value is created by businesses for sustainability. By the end of the

programme, participants will be able to communicate effectively and confidently on financialmatters within your organisation.

Semester Offered: Semester 1and Semester 2

Student Learning Time (SLT):

Total Student Learning Time(SLT)

Face to FaceLectures

Total Guided andIndependent Learning

126 hours 39 hours 87 hours

Credit Value: 03

mailto:[email protected]






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Prerequisites: No prerequisites for this course.

Learning Outcomes

After successful completion of this course, participants should be able to:LO1: evaluate the advance knowledge of accounting and finance and integrate

sustainability issues, other business related disciplines together with previouslearning and experiences to address complex global business situationsholistically (PO1) (C6)

LO2: deduce financial and non-financial accounting information in justifying thefinancial positions and performance of a company (PO1) (C6)

LO3: construct financial statements based on generally accepted accountingstandards (PO2) (P5)

LO4: formulate financial strategies based on accounting information to ensuresustainability of a company in a rapidly changing the world's economiclandscape (PO3) (A5)

LO5: conform ethical, values and professional attitude in developing financialstrategies (PO6) (A5)

LO6: practice strategic thinking, innovation and entrepreneurial skills in makingmanagerial decisions (PO8) (A5)

NoteParticipants are given clear guidelines as to expected outcomes and objectives of each topic,

thereby being made aware of their responsibility in undertaking the required reading andadditional work requirements for each topic. This promotes an explaining of the principles ineach topic and is an important part of the learning process. Participants are notified of thebasic requirements for progress but they are also encouraged to work at their own pace, withthe proviso that they maintain contact with me so as to enable guidance and clarification if needed.

Transferable Skills

This course is aimed to ensure participants could appreciate experience and haveknowledge on the principles, theories, concepts, practices, interpretations, techniques,

strategies and issues of accounting and finance which are essential for business leaders aswell as entrepreneurs. The course will also enhance the participants’ confidence inunderstanding and develop your technical and problem solving, ethics and entrepreneurialskills in the context of the organization’s strategy, its competitors and its industry.



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Teaching-Learning and Assessment StrategySelf instructional Course Materials

Course Outline Course Guide Main text book

Additional text books Articles

Face to Face Interaction Lectures Group presentations Class discussion Problems/Cases Analysis

Student Centred Learning Activities Online Videos Self Assessment Quizzes Online Supplementary Materials Reading E-Learning

Assessment Strategy Continuous Assessment (Coursework) 50% Semester End Exam (Final Exam) 50%

Course Synopsis

This course covers the core knowledge of the essential features of financialaccounting, management accounting and financial management from theperspective of a non-business major. It is highly practical course that will helpparticipants to increase your explaining of the use of accounting and finance in the

business context. It will increase your confidence and explaining in financialmatters, develop your skills in analysing and interpreting financial and non-financialinformation, particularly in the context of the organisation's strategy, its competitorsand its industry.

Mode of Delivery

Totally based on Student-centred Learning

Self Learning Activities as prescribed in the Course Guide, Face to Face Interactions

Approximately 1 1/2 hours of debate/discussion and 1 1/2 hours of interactivelecture based on predetermined case/s for each topic

The sessions will outline the main theoretical issues and will sometimes involvepractical illustrations of the application of concepts and principles.

Online learning system (e-learning), Forum, Discussion

Cases will be used to illustrate the application of theory, concepts and principles topractical issues

Note: It is neither possible nor intended that all aspects of every issue will be

covered in each session. It is expected that participants will need to doadditional reading.



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Assessment Methods and Types Continuous assessment:

1. Coursework 50%

i. Participation and Quizzes (20)ii. Mid Semester Exam (15)iii. Project (15)

2. Final Exam 50 %

TOTAL 100 %

Mapping of the course to the Programme Aims

Programme Aims Minor Contribution

Major Contribution

1. To produce business leaders who possess advanceknowledge and integrate with previous learning andexperiences to address complex situations holistically

X

2. To stimulate creativity, critical thinking and problem-solvingwith wisdom and visionary thoughts in managing changewithin the dynamic business environment

X

3. To develop business leaders with CLASS (Capable Leaders Accountable for Strategic Sustainability) quality whilst

upholding faith and high ethical values in their businesspractice

X



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Mapping of the course to the Programme Learning Outcomes

PROGRAMME OUTCOMES (PO)

Learning Outcomes of the Programme

Minor Contribution

Major Contribution

PO1

Apply the advanced knowledge of accounting, finance,organizational behavioural, marketing, operationsstrategy, quantitative analysis, business research,management information systems, managerialeconomics, sustainability issues and other businessrelated disciplines and to integrate their learning from arange of subject areas to explain and address complexsituations holistically

X

PO2Synthesize advanced practical and technical tools to beapplied into complex business situations

X

PO3

Justify using scientific methods and critical thinking in

applying management strategies at a senior level inchanging business environments to analyze, synthesizeand solve complex unstructured business problems

X

PO4

Demonstrate well-developed interpersonal skills and theability to communicate effectively with all stakeholdersand to interact with groups and individuals at all levelsand make sound judgments with incomplete data andcommunicate conclusions clearly to a range of audiences

X

PO5Practice social skills, team building and responsibilities in

their managerial tasks

X

PO6Incorporate managerial ethics, values, attitude andprofessionalism in decision making and problems solving

X

PO7

Make evidence on competency and confidence in usingand managing ICT and take responsibility for continuingto develop their personal knowledge and skills, be self-directed and able to act autonomously in planning andimplementing projects

X

PO8Display strategic thinking, innovation and entrepreneurialskills based on previous relevant experience in businessand management

X

PO9

Establish interpersonal, group-working and leadershipskills with explain and have experience of global issuesto transform organizations through strategic leadershipand intellectual rigor

X



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Contents outline of the course and the SLT per topic:

Course materials

S e l f s t u d y

F a c e t o f a

c e

i n t e r a c t i o n s

C a s e S t u d

y

T o t a l S L T

( h o u r s )

Part A: Introduction to the course

Part B: Lesson 1: The Nature and Purpose of Accounting (LO1) (LO2)

The need for information

The profession of Accounting

Our approach to Accounting

The Financial Accounting Framework Financial Statements

5 3 1 9

Lesson 2: Basic Accounting Concepts (LO1) (LO2) (LO3)

The Balance Sheeto Money measurement concepto Entity concepto Going-concern concepto Cost concepto Dual-aspect concept

The Income Statemento Accounting period concepto Conservatism concepto Realization concepto Matching concepto Recognition of expenseso Gains and losses

5 3 1 9

Lesson 3: Cost of Sales and Inventories (LO1) (LO2) (LO4)

Types of companies

Merchandising companies

Manufacturing companies

Service companies

Inventory costing methods Lower of Cost or Market

5 3 1 9

Lesson 4: Revenue and Monetary Assets; Long-lived Nonmonetary Assetsand their Amortization (LO1) (LO2) (LO3) (LO6)

Timing of revenue recognition

Amount of revenue recognized

Monetary assets

Nature of Long-lived Assets

Plant and equipment: Acquisition

Plant and equipment: Depreciation

Accounting for Depreciation

Plant and equipment: Disposal

Intangible Assets

5 3 1 9



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Lesson 5: Source of Capital: Debt (LO1) (LO2) (LO3) (LO4) (LO5)

Nature of Liabilities

Debt Capital

Accounting for Bonds

Leased Assets

Other liabilities

5 3 1 9

Lesson 6: Source of Capital: Owner’s Equity (LO1) (LO2) (LO3) (LO4)(LO6)

Forms of Business Organization

Accounting for Proprietor’s and Partners’ Equity

Ownership in a corporation

The line between debt and equity

5 3 1 9

Lesson 7: The Statement of Cash Flows and Financial Statements Analysis (LO1) (LO2) (LO3) (LO4) (LO6)

Purpose of the Cash Flow Statement

The Cash Flow Statement

Misconceptions about Depreciation

Business Objectives

Overall Measures

Profitability ratios

Investment Utilization ratios

Financial Condition ratios

Dividend policy

Growth measures

Making comparisons

5 3 1 9

Lesson 8: The Nature of Management Accounting (LO1) (LO2) (LO5)(LO6)

Management Accounting

Contrast between Management Accounting and FinancialReporting

Types of Management Accounting Information and Their Uses

Databases

General Observations on Management Accounting

5 3 1 9

Lesson 9: The Behaviour of Costs, Full Costs and Their Uses(LO1) (LO2) (LO4) (LO5) (PO6)

Relation of Costs to Volume Profit-graphs

Cost Concepts

Product Costing Systems

Nonmanufacturing Costs

Uses of Full Costs

5 3 1 9



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Lesson 10: Control: The Management Control Environment and Process(LO1) (LO2) (LO4) (LO5) (LO6)

Management Control

The Environment

Responsibility Centres and Responsibility

Types of Responsibility Centres Phases of Management Control

Accounting Information Used in Management Control

Behavioural Aspects of Management Control

5 3 1 9

Lesson 11: Strategic Planning and Budgeting (LO1) (LO2) (LO4) (LO5)(LO6)

Strategic Planning

Budgeting

The Operating Budget

Preparing the Operating Budget

The Cash Budget

The Capital Expenditure Budget

Beyond Budgeting

5 3 1 9

Lesson 12: Short-Run Alternative Choice Decisions (LO1) (LO2) (LO4)(LO5) (LO6)

The Differential Concept

Contribution Analysis

Alternative Choice Problems

Differential Costs

Types of Alternative Choice Problems

5 3 1 9

Lesson 13: Longer-Run Decisions: Capital Budgeting (LO1) (LO2) (LO4)(LO6)

Nature of the Problem

General Approach

Estimating the Variables

Other Methods of Analysis

Preference Problems

Non-profit Organizations

5 3 1 9

Lesson 14: Accounting Information System (LO1; C5) (LO2;C6) (LO3;P7)

Characteristics of data and information and their values

Accounting information system (AIS) and the basic functions itperforms.

The role AIS plays in a company’s value chain and its value to abusiness.

The importance of AIS for management for decision making.

AIS strategies

9 9

Total SLT 126



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TEXTSPRESCRIBED TEXT

1. Anthony, R.N., Hawkins, D. & Merchant, K.A. 2011. Accounting: Text and Cases.13th Edition. McGraw Hill International Edition (Anthony et al.)

Additional Readings:1. Dyson, J.R. 2010. Accounting for non-accounting participants. 8th Edition. Prentice

Hall.2. Schroeder, R.G., Clark, M.W. & Cathey, J.M. 2009. Financial Accounting Theory and

Analysis: Text and Cases. 9th Edition. John Wiley & Sons, Inc.3. Horngren, Harrison and Oliver (2009), Financial and Managerial Accounting; 2nd

Edition, Pearson International Edition (HHO)4. Business Times Online: http://www.btimes.com.my5. Yahoo Malaysia Business News: http://malaysia.news.yahoo.com/business-news-

malaysia.html6. Malaysian Accounting Standards Board: http://www.masb.org.my/7. Online Encyclopaedia on Accounting: www.wikipedia.org

Participants have to fulfil 80% class attendance requirement in their tutorial sessions. Failure to observe this rule will result in the

participant not being able to sit for the final exam

Assessment

Details

1. Mid-semester TEST Details (20%):

The Mid-Term Test primarily seeks to gauge participant’s general understanding of the course, and to examine participant’s ability to identify and differentiate importantterms and concepts. The test will be carried out in class (usually in Week 9). It canbe given using any or a combination of short question(s), essay, and case study.

2. Group Presentations, Individual Participation and Quizzes (15%)The objectives of these parts of the assessment are to increase your knowledge of the subject, enhance independent problem solving and analytical skills, and todevelop adaptability and ability to cope with uncertainty. Each participant isrequired to participate actively in class lecture (all 14 lessons), class discussionsand/or debates to ensure participation marks will be secured. Participation herealso includes class attendance and individual support via attendance any

Industry/Professor Speaks and CEO Forum held by GSB in the semester. Quizzeswill be given from time to time as the objective is to primarily gauge participant ’sgeneral understanding of the course and to examine participant’s ability to identifyand differentiate important terms, concepts of accounting and finance.

3. Submission of Research Project Details (15%):(Assignment Handout will have further information)

The objective of this part of the assessment is to increase your knowledge and todevelop your skills in research, analysis and expression WHILE WORKING AS AGROUP. In assessing the group’s assignment, I will be looking for evidencethat you or your team have acquired knowledge through independent work,

and your group’s views have been carefully, critically and objectively

http://www.btimes.com.my/

http://malaysia.news.yahoo.com/business-news-malaysia.html


http://www.masb.org.my/

http://www.wikipedia.org/

http://www.wikipedia.org/

http://www.masb.org.my/



http://www.btimes.com.my/



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articulated. The arguments in the essay should be presented clearly in alogical structure.It is a major requirement of this subject that the essay be properly researched andpresented. As such it should

Be original and performed as a team effort[ALL quotations MUST be clearly distinguished from by quotation marks]

Be typed [printed], and double spaced for clarity. A high standard of presentation is expected.

Complete with a front cover and identification sheet, with all relevant detailsincluding

- names of all group members AND participant number

- the subject name and code, title of the essay and date of submission

contain correct referencing, using the Harvard system include a bibliography

adequately referencing your sources [including all books, articles and other works referred to in essay, and only these]

Late Submission of Assignments & Resubmission Policy

EXTENSIONS

All assessment should be handed in at the required due date. Extensions are notnormally granted, but in exceptional cases or where there is genuine hardship, limitedextensions MAY be granted. Any applications should be made in writing to me beforethe due date, and where appropriate a medical certificate should be attached.



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Plagiarism (Important)

Examination and assessment misconduct including plagiarism

Participants should note the policy of the Universiti Sains Malaysia on cases of examinationor assessment irregularity.

Plagiarism is the action or practice of taking and submitting or presenting thethoughts, writings or other work of someone else as though it is your own work.Plagiarism includes any of the following, without full and appropriateacknowledgment to the original source(s):

(a) the use of the whole or part of a computer program written by another person;(b) the use, in essays or other assessable work, of the whole or part of a written

work from any source including but not limited to a book, journal, newspaper

article, set of lecture notes, current or past participant ’s work, any other person’s work, a website or database;

(c) the paraphrasing of another’s work; (d) the use of musical composition, audio, visual, graphic and photographic

models,(e) the use of regalia, that is objects, artefacts, costumes, models and the like

Plagiarism also includes the preparation or production and submission or presentation of assignments or other work in conjunction with another person or other people when that work should be your own independent work. This remainsplagiarism whether or not it is with the knowledge or consent of the other person or people. It should be noted that USM encourages its participants to talk to staff, fellow

participants and other people who may be able to contribute to a participant ’sacademic work but that where independent assignment is required, submitted or presented work must be the participant’s own.

Enabling plagiarism contributes to plagiarism and therefore will be treated as a form of plagiarismby the University. Enabling plagiarism means allowing or otherwise assisting another participantto copy or otherwise plagiarise work by, for example, allowing access to a draft or completedassignment or other work.

Participant Notes

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