Accounting and finance Management

Module 1. Accounting Management (Week 1)

Day 1: Overview of Accounting Management

• Meaning and Definition of Accounting
• Basic Principles of Accounting
• What is the Basic Accounting Equation?
• Different Types of Accounting
• What is Debit and Credit in Accounting?
• Difference between Bookkeeping and Accounting
• Different Types of Books of Accounts and their meaning

Day 2: Accounting Cycles and Controls

• What is Accounting Cycle?
• The Process of Accounting Cycles
• What is Accounting Controls?
• Types of Internal Accounting Controls
• What is Chart of Accounts and how does it work?
• Definitions and Importance of Bank Reconciliation

Day 3: Accounting Treatment (Part 1)

• What is Accounting Treatment and its importance?
• Accounting for Sales, Accounts Receivables, and Cash Receipts
• Accounting for Purchases, Accounts Payables, and Cash Disbursement
• Accounting for Operating Expenses (OPEX), Salaries, and Petty Cash fund
• Accounting for Merchandise Inventory and Cost of Goods Sold

Day 4: Accounting Treatment (Part 2)

• Accounting for Capital Expenditures (CAPEX) and Depreciation
• Accounting for VAT and Corporate Tax
• Accounting for Deferrals and Adjustments
• Accounting for Prepayments and Accruals

Module 2. Financial and Management Accounting (Week 2)

Day 5: Overview of Financial Accounting

• What is Financial Accounting?
• Five Main Classifications of Financial Data
• What is Financial Statement?
• Understanding the meaning and functions of:

1. Balance Sheet
2. Profit and Loss Summary
3. Cashflow Statement
4. Shareholder’s Equity

Day 6: Financial Accounting

• What is Accrual Method and Cash Method in Accounting?
• Principles of Financial Accounting
• Importance of Financial Accounting
• Preparation and Analyzing Financial Statements

Day 7: Overview of Management Accounting

• Management Accounting Definition
• Introduction to Management Accounting
• Advantages and Objectives of Management Accounting
• Difference between Management Accounting and Financial Accounting
• Difference between Costing and Cost Accounting

Day 8: Types of Managerial Accounting

• Product Costing and Valuation
• Cashflow Analysis
• Inventory Turnover Analysis
• Accounts Receivables & Accounts Payables Management
• Break-Even Analysis
• Budgeting
• Forecasting

Module 3. Introduction to Xero Online Accounting Software (Week 3)

Day 9: Xero Organization Account Setup

• Bank Account Set-up and reconciliation
• Chart of Account Set-up
• Managing your Xero Contact Details
• Using the Inventory Set Up (Product and Services)

Day 10: Xero Accounting Process (Part 1)

• Customer Quotes and Tax Invoices Management
• Suppliers Purchase Order and Bills Invoices Management
• Payroll Management

Day 11: Xero Accounting Process (Part 2)

• Expense Claim Management
• Fixed Assets Management & Depreciation
• Manual and Recurring Journal Entries

Day 12: Preparation of Financial Statements

• Trial Balance
• Balance Sheet
• Profit and Loss Summary
• Cash Flow Statement
• VAT Summary Report

Course Presentation:

The specified subjects and case studies (if any) for each week will be presented using PowerPoint. Missed class sessions or a lack of involvement will have an impact on your final grade. To pass the class, you must complete all of the required group activities and submit an individual project.

Attendance Policy:

Consistent class attendance is required for a variety of reasons, not the least of which is that it is extremely difficult to contribute to and engage in discussions and other activities if you are not present. Discuss unexpected absences with the instructor ahead of time, as they will have a negative impact on your mark. Your individual participation will be graded.

Grading System:

• Topic Presentation: 20%
• Final Exam: 35%
• Individual Projects: 25%
• Class Participation/Class Preparation: 20%

Individual Project:

• Create your dummy company and prepare your Financial Report (Trial Balance, Balance Sheet, Profit and Loss Summary, and Cash Flow Statement)
• Prepare a 5 years Profit and Loss Summary Forecast (In a separate sheet, you need to create your key assumptions of your forecast)

Final Requirements:

All documents should be consolidated and include the following:

1. Research Paper
2. PowerPoint Presentation
3. Case Study
4. Reflection/Reaction Paper
5. Midterm and Final Examination