AF101

Introduction to Accounting &

Financial Management Part I
COURSE OUTLINE

1. SEMESTER/YEAR: Semester 1, 2020

2. MODE OF DELIVERY/LOCATION: Face-to-Face & Online

3. PRE-REQUISITES: NA

4. COURSE CO-ORDINATOR: Masilina Rotuivaqali

5. TEACHING TEAM

Name: Masilina Rotuivaqali

Office: S234 - FBE
Phone: (679) 323 2532
Email: tuiloa_m@usp.ac.fj
Consultation Hours: TBC

Name:
Office:
Phone:
Email:
Consultation Hours:

6. LECTURE TIMES & VENUE

Tuesday 1 – 2 pm Venue: 092-001 & Wednesday 1 – 2pm Venue: 092-001

OR
Thursday 3 – 4 pm Venue: 092-001 & Friday 3 – 4pm Venue: 092-001

7. EMERGENCY CONTACT

Name: Ms. Gloria Yam

Phone: 323-2517
Email: gloria.yam@usp.ac.fj

AF101 Course Outline – Semester I – 2020

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 8. COURSE DESCRIPTION

Welcome to AF101. This course is designed to enhance the students’ knowledge on tertiary level
accounting. The course introduces introductory level accounting and financial management.
Accounting is a service activity and its function is to provide and interpret financial information that is
intended to be useful in making economic decisions. Students will be encouraged to build on and
extend your knowledge on the fundamentals of accounting.

9. COURSE LEARNING OUTCOMES

On successful completion of this course, students should be able to:

1. Create and update the accounting records for sole traders and partnerships. These include
journals, general ledgers and subsidiary ledgers.

2. Outline the process and prepare basic accounting entries for company formation.

3. Recommend suitable internal controls for an accounting entity.

4. Use appropriate methods to determine the value of assets such as Accounts Receivable,
Inventory and Non-Current Assets.

5. Prepare the General Purpose Financial Reports from the accounting system, using Generally
Accepted Accounting Principles (GAAP) and appropriate accounting standards.

6. Analyse and interpret the financial performance and position of an accounting entity using
appropriate financial ratios.

10. Program Learning Outcomes (PLO)

On successful completion of the program graduates will be able to:

P1 Evaluate/Judge/Test arguments, ideas and theories

P2 Demonstrate a disposition and capacity to undertake career long

independent learning in the field of accounting.

P3 Discriminate between relevant and irrelevant information in framing

decisions.

P4 Address real world problems irrespective of whether they can be

resolved by reductionism or not.

P5 Apply knowledge, principles and skills embodied in the curriculum of

the accounting major appropriately and accurately.

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 P6 Efficiently formulate and effectively communicate accounting
information to users of such information.

P7 Apply the regulatory framework for financial reporting.

P8 Exercise professional judgment in applying accounting policies in the

framing of financial reports.

P9 Critically appraise financial social and environmental accounting

practices employed by entities.

P10 Assess the relevance and capacity for practical application of current
and evolving global accounting practices in South Pacific Island
economies.

P11 Articulate the role the law does and can play in facilitating good
commercial practice.

P12 Demonstrate levels of post conventional moral reasoning (as per

Kolberg's hierarchy) in the conduct of their daily lives.

P13 Articulate, observe and apply principles of good governance.

P14 Make proficient use of information systems in organisations and

make critical decisions relating to the use of information technology
in organisations.

11. USP GRADUATE OUTCOMES

The USP graduate outcomes are as follows:

1. Creativity: Graduates will generate new ideas and approaches to solve problems
2. Communication: Graduates will choose appropriate language and modes of
communication to share ideas and capture understanding
3. Critical thinking: Graduates will evaluate ideas and opinions before forming a
conclusion
4. Ethics: Graduates will apply ethical reasoning to their actions and decision-making
5. Pacific consciousness: Graduates will recognize the cultural heritage, and diversity of
Pacific societies
6. Professionalism: Graduates will apply professional principles, values and ethics to
their work
7. Teamwork: Graduates will collaborate with people of diverse perspectives to achieve
goals

AF101 Course Outline – Semester I – 2020

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 12. COURSE CONTENT

Week Commencing Dates Topic Textbook

Reference
1 3 – 7 Feb I. Introduction to the course
II. Role of Accounting Chapter 1
III. Conceptual Framework Chapter 10

2 10 – 14 Feb I. Financial statement for decision making Chapter 2

Chapter 3
II. Recording transactions
3&4 17 – 21 Feb I. Adjusting the accounts Chapter 4
24 – 28 Feb II. Completing the accounting cycle Chapter 5
5 2 - 6 Mar Cash Management & Control
Chapter 11

6 9 – 13 Mar I. Accounting for retailing Chapter 6

II. Inventories Chapter 13
7 16 – 20 Mar I. Receivables
Chapter 12
II. Payables Chapter 16

8 23 – 27 Mar Mid-Semester Break

9 & 10 30 Mar – 3 Apr Non- current assets:

Chapter 14
6 – 10 Apr acquisition and depreciation, revaluation,
Chapter 15
disposal and other aspects
11 13 – 17 Apr Companies
Chapter 9

12 & 13 20 – 24 Apr Statement of Cash Flows

27 Apr – 1 May Chapter 18

14 4 – 8 May Analysis & Interpretation of financial statements

Chapter 19
15 11- 15 May Study Break
16/17 18 – 29 May Final Examinations

AF101 Course Outline – Semester I – 2020

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 13. PRESCRIBED TEXT AND OTHER RESOURCES

Prescribed text
Title: ACCOUNTING.*

Author: Hoggett, J., Medlin, J., Chalmers, K., Hellmann, A., et. al
Edition: 10th Edition. John Wiley & Sons Australia, Ltd.(2018)
Description: http://www.wileydirect.com.au/buy/accounting-10th-edition/

*Note there are other editions of the textbook (7th, 8th or 9th) that students may use but tutorial questions
may differ.

Other reading resources:

The following titles are available in the USP Library Reserve Collection. They cannot be taken
out of the library.

Birt, J., Chalmers, K., Beal, D., Brooks, A., Bryne, S., & Oliver, J., 2012. Accounting: Business Reporting
for Decision Making. John Wiley & Sons Limited, Australia.

Fargher, N., Wise, V., Kieso, D.E., Weygandt, J.J., & Warfield, D.T., 2008. Fundamentals of
Intermediate Accounting. John Wiley & Sons Limited, Australia.

14. ALIGNMENT OF LEARNING OUTCOMES, ACTIVITIES AND ASSESSMENT

The following table demonstrates the alignment of the course learning outcomes to
appropriate activities and assessments and the links to programme and USP graduate
outcomes.
Course Associated Assessment Programme USP Graduate Outcomes
Learning Teaching and Outcomes
Outcome Learning
Activities

1 Online content, Online Quiz 5 2, 3

videos quizzes,
discussion
forum
2 Online content, Test/Assignment 3, 6 2, 3
videos, quizzes,
discussion
forum
3 Online content, Assignment 3, 6 2, 3
videos, quizzes,
discussion
forum
4 Online content, Online Quiz/Test 2-6 2, 3
videos, quizzes,

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 discussion
forum
5 Online content, Test/ Group 2-6 2,3,6
Assignment
videos, quizzes,
discussion
forum
6 Online content, Test/ Group 2-6 2,3,6
Assignment
videos, quizzes,
discussion
forum

15. ASSESSMENT

15.1 ASSESSMENT PORTFOLIO

15.1.1 FACE-TO-FACE LAUCALA BASED STUDENTS

TYPE OF ASSESSMENT WEIGHT Comments/Rationale LEARNING
OUTCOME
CONTINUOUS ASSESSMENT – 50%
Online Quizzes 10% 10 End of Unit Quizzes @ 1% each 1–6
Mid semester test 25% Topics Weeks 1 – 5 1, 3, 5
Marks awarded for participation & 1-6
Tutorial Assessments
5% random quizzes.
Financial report analysis & report 1-6
Major Assignment
10% presented in tutorial.
FINAL EXAMINATION - 50%
Final Exam 50% 3 hour paper 1- 6

15.1.2 ONLINE (ALL CAMPUSES/CENTRES)

TYPE OF ASSESSMENT WEIGHT Comments/Rationale LEARNING
OUTCOME
CONTINUOUS ASSESSMENT – 50%
Online Quizzes 10% 10 End of Unit Quizzes @ 1% each 1–6
Mid semester test 25% Topics Weeks 1 – 5 1, 3, 5
Marks awarded for participation & 1-6
Online Discussion Forums
5% contribution
Major Assignment 10% Financial report analysis & report 1-6
FINAL EXAMINATION - 50%
Final Exam 50% 3 hour paper 1- 6

15.2 PASSING THE UNIT

In order to be awarded a pass in this unit, students must:
• Achieve an overall mark of at least 50% in the course. This must include a minimum
of 40% in the final examination. You must also satisfactorily complete all components of
the assessment. You DO NOT need to obtain a minimum mark in the coursework element,
including the test(s).

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 15.3 GRADE DISTRIBUTION

A+ A B+ B C+ C D E
85-100 78-84 71-77 64-70 57-63 50-56 40-49 0-39

16. ASSESSMENT POLICIES AND REGULATIONS

For detailed regulations, please refer to the USP Handbook and Calendar.

Plagiarism, copying materials from other sources without proper referencing and
acknowledge of the source is a serious offence and will be dealt with severely. In the
Regulations Governing Academic Misconduct section of the USP Handbook & Calendar
plagiarism is defined as “the copying of another person’s creative work and using it as one’s
own – without explicitly giving credit to the original creator. Work copied without
acknowledgement from a book, from another student’s work, from the internet or from
any other source”. If lecturer is satisfied that plagiarism has occurred, they will report the
matter to the Head of School. They can reduce marks appropriately. If the matter is seen
as serious enough it can be taken to the Student Disciplinary Committee by the Head of
School.

17. IMPORTANT DATES

Face-to-Face Online
Weighting Weighting
Activity Week (%) (%)
Major Assignment 10 10 10
Mid Test 7 25 25
Online Quizzes End of Unit 10 10
Tutorial Assessments 2 - 13 5
Discussion Forums 2 - 13 5

18. ADDITIONAL COURSE ATTENDANCE

18.1 TUTORIALS

18.1.1 FACE-TO-FACE

You can sign-up for a tutorial by visiting the course Moodle page and choosing one of the
available sessions. Course Coordinator can assist with any queries regarding tutorials.

Tutorials are compulsory. To pass any course where tutorials are required, you must attend at
least 60% of these to be eligible to pass the course. Students who do not meet the 60%

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 minimum requirement will fail the course under [Clause 1.3 (e) of the Assessment Regulations
outlined on Page 449 of the USP 2015 Calendar.]

18.1.2 ONLINE

This course is fully online and administered via MOODLE. There will be no face to face tutorials
but any queries you have will be responded to via moodle or email within 24 hours. There will be
weekly online discussion forums for which online students must participate in.

18.2 LABORATORY SESSIONS

Not applicable

18.3 ONLINE WORK

The course will be administered through Moodle. Course notices, lecture handouts, tutorial
questions, assignments and assessment marks will be posted on the course Moodle page. Therefore
you should check the site regularly. If you have lost your USP password or do not see your course as
a listed course after login, please contact the ITS student helpdesk. Any other queries regarding
Moodle can be referred to the Course Coordinator.

19. STUDENT SUPPORT

19.1 ONLINE HELP & e-Learning INFORMATION

All e-learning information will be posted on moodle each week and any queries from
students will be responded to within 24 hours.

19.2 FACULTY STUDENT LEARNING SUPPORT (SLS) SERVICES

The University provides other forms of support through the mentoring program at Student
Learning Support http://www.usp.ac.fj/index.php?id=8434.

Student Learning Support (SLS) provides the necessary academic and study skills to assist
students with their course requirements.

There is a range of services that students can participate in or use free of charge. These services
are tailor made to help students tackle and manage the requirements of tertiary education.
These services include:

• Peer Mentoring Programme – high achieving senior students facilitate group activities
through which students are guided on study tips, problem solving, and assessment preparation.
• Drop In Support - Students can drop in to meet with an SLS Specialist during the operating
hours at 091 – 013 (FBE SLS Hub) to seek assistance in assignment planning, essay structure,
referencing, understanding and selecting relevant study skills, time management, speaking and
reading skills and other related aspects. The initial meeting should occur at least 3 weeks prior to
the assignment due date.

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 • Academic Skills workshops – Either through the course or generally, workshops on academic
skills (Essay writing, Referencing, Reading and others) will be conducted. Students are
encouraged to attend.

The SLS Hub is located in Building 091(CELT Building), Room 013, Laucala (Upper) Campus. The
operating hours are Mondays - Thursdays: 9am - 5pm, Fridays: 9am – 4pm.

For further details and assistance, students may email:

Pauline Ryland: pauline.ryland@usp.ac.fj

Roshila Singh: roshila.singh@usp.ac.fj

You can also raise your views regarding the course through the Accounting and Finance Student
Association (AFSA). Information about AFSA is available at
http://www.afm.fbe.usp.ac.fj/index.php?id=8040.

20. EXPECTATIONS OF STUDENTS

20.1 STUDENT RESPONSIBILITIES

Students are expected to:
• Read the relevant chapters each week before attempting the weekly activities.
• Attend all your lectures and tutorials (for face-to-face students).
• Spend enough time on Moodle and other activities required in the course
• Revise each weekly topic before reading the new topic.
• Facilitate the course coordinator with any proof that he/she was sick and unable to
attend classes or assessment at the earliest possible time to avoid getting a zero mark
for the missed assessment.

20.2 STUDENT WORKLOAD

TYPE Hours Comments

Readings 3 Students are expected to read the relevant chapters at
the start of every Unit.
Tutorial activities 3 To gain most out of the tutorial sessions, students are
expected to attempt the tutorial questions before
coming to class.
Assignment 2 Students are expected to read their textbook and
other resource materials from the library or the
internet when attempting the assignment questions.
Self-study 3 Every student is expected to revise the major point at
the end of each week before progressing to the new
topic. When revising, students must also refer to the
lecture guides, power point slides and tutorial
activities.
TOTAL 11 Per week

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