The New BASF Curriculum: Accounting Modules

1
The New BASF Curriculum Accounting Modules

• Eric K.F. Law
• Department of Information and Applied Technology
• The Hong Kong Institute of Education

2
Components ofAccounting Modules

• Elective Part
• Financial Accounting (40)
• Cost accounting
• (20)

• Compulsory Part
• Introduction to Accounting
• (15)

3
Aims of the curriculum

• Upon completion of the module, students will be
  able to demonstrate knowledge and understanding
  of financial accounting and cost accounting for
  effective management.

4
Expectations on students

• Describe the role of financial accounting and
  cost accounting
• Appreciate similarities and difference between
  financial and cost accounting
• Compare procedures and principles of financial
  accounting for different forms of business
  ownership
• Evaluate basic assumptions, principles and
  conventions in financial accounting

5
Expectations on students

• Apply basic assumptions, principles and
  conventions in financial accounting in accounting
  problems and cases
• Demonstrate the skills of preparing,
  communicating, analyzing and applying accounting
  information in different business scenarios
• Values and attitudes in ethical issues regarding
  accounting professional

6

• Introduction
• To
• Accounting

7
Learning objectives

• Describe and appreciate the role of accounting in
  business and society
• Describe the uses of accounting information by
  different users
• Apply the accounting procedures, principles and
  concepts for financial reporting

8
Learning objectives

• Appreciate the importance of financial reporting
• Interpret financial statements of a business and
  comments on its financial position (Ratios
  analysis)

9
Learning Outcomes

• Students are expected to be able to describe and
  understand
• Importance of accounting (decision making)
• Use and limitation of financial statements
• Fundamental accounting concepts
• Double entry system
• Account recording and reporting
• Use accounting ratios to evaluate financial
  position

10

• Financial
• Accounting

11
Learning objectives

• Understanding of accounting cycle (manual and
  computerized accounting)
• Knowledge and skills in accounting procedures and
  principles for proprietorship, partnership and
  limited co
• Apply accounting principles and concepts, and
  control measures (quality accounting information)

12
Learning objectives

• Discuss and be aware of the regulatory framework
  of accounting in Hong Kong
• Analysis strength and weakness of a business and
  propose appropriate remedial actions
• Impact of information and communication
  technology (ICT) on accounting functions
• Aware of the importance of integrity of
  accounting information and professional accountant

13
Learning outcomes

• Students are expected to be able to
• Handle accounting adjustments
• Prepare financial statements of different forms
• Explain and use tools in accounting control
  system
• Explain and apply accounting assumptions,
  concepts and principles

14
Learning outcomes

• Students are expected to be able to
• Use different tools for analyzing financial
  statements and make suggestions to benefit a
  company
• Discuss the impact of ICT on accounting
• Discuss the ethical issues (corporate governance)

15

• Cost
• Accounting

16
Learning objectives

• Discuss the role of cost accounting in business
• Knowledge and understanding basic costing
  concepts and principles (cost behavior cost
  classification)
• Apply job costing principles to manufacturing
  operation (allocation and apportion of cost)
• Distinguish between marginal and absorption
  costing (different calculations)

17
Learning objectives

• Recognize impacts of marginal and absorption
  costing on financial results (effects of
  different costing on profit)
• Apply costing concepts and techniques in making
  decisions (Relevance of cost) (hire/make/buy,
  accept/reject, retain/replace, sell/process
  further, eliminate/retain decisions) (CVP
  analysis)

18
Learning outcome

• Students are expected to be able to
• Explain the importance of cost accounting to
  decision making
• Distinguish different cost classification
• Illustrate the allocation and apportionment of
  cost
• Compare marginal and absorption costing
• Identify the relevance of cost

19
Learning outcome

• Students are expected to be able to
• Apply cost accounting concepts and techniques in
  decision making
• Conduct CVP analysis