New format for OBE-SCL Lesson Plan SEPT 2017 – JAN 2018

FAKULTI PERAKAUNAN
UNIVERSITI TEKNOLOGI MARA
40450, SHAH ALAM

PROGRAM NAME : DIPLOMA IN ACCOUNTANCY

PROGRAM CODE : AC110
COURSE NAME : FINANCIAL ACCOUNTING 1
COURSE CODE : FAR110
LECTURE : 2 hours/week
TUTORIAL : 1 hour/week
LECTURER : NOR JASLINA NIK WIL(019-3555166)

COURSE OUTCOMES

CO1 Analyse and record the business transactions into the accounting records (journal and ledgers) using the double entry system.

CO2 Prepare the financial statements of a sole trader for merchandising and service enterprise with elementary year-end adjustments using
appropriate accounting concepts, basis and principles.

CO3 Prepare bank reconciliation statement.

CO4 Prepare the financial statements from incomplete records.

PROGRAM OUTCOMES

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PO1 Able to apply knowledge and understanding of accounting and accounting related fields.

PO2 Able to prepare accounts, budgets and costing information, and assist in tax returns, the audit process, and finance
functions

PO3 Able to interpret and analyse financial and non- financial information

PO4 Able to assist in financial and managerial accounting reporting for decision making purposes

PO5 Able to coordinate with different functions of the management team

PO6 Able to apply values, ethics, morality and professionalism in their work

PO7 Able to engage in life-long learning

PO8 Able to apply managerial and entrepreneurial skills

PO9 Able to demonstrate leadership skills

CO-PO MATRIX

PO1 PO2 PO3 PO4 PO5 PO6 PO7 PO8 PO9

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CO1     
CO2     
CO3   
CO4    

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PROGRAM EDUCATIONAL OBJECTIVES (PEO):

AFTER COMPLETING THIS PROGRAM, graduates would be:

PEO 1 Competent accounting technician who understand and are able to analyse
financial information in providing quality accounting services

PEO 2 Accounting Technicians who are ethical and professional in providing services to
stakeholders

PEO 3 Accounting Technicians who lead and engage in teams in identifying accounting
issues through effective communication abilities

PEO 4 Accounting technicians who continue to advance his/her knowledge and abilities
by utilizing ICT in managing information and exploring entrepreneurial activities

CO-PEO MATRIX

PEO1 PEO2 PEO3 PEO4

CO1  
CO2  

CO3  

CO4  

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 New format for OBE-SCL Lesson Plan SEPT 2017 – JAN 2018

PLAN STRUCTURE

NO WEEK TOPIC CONTACT LECTURE/TUTORIAL COVERAGE TOPIC OUTCOME (TO) CO PO LEARNING ASSESSME
HOURS MODEL NT
1 Introduction 3 (3L) Ability to: C01 PO1 Sharing of
 Ice breaking PO6 materials and
1  Definition of accounting  Understand the significance important PO7 information
 Three activities of accounting of adopting OBE for the course.
 Users and uses of accounting
 Recognize FACT program educational Lecture
objectives (PEOs).
information Group
 The building blocks of accounting:
 Recognize FACT program outcomes
(POs). discussion
1.Ethics in Financial Reporting
2.Generally Accepted Accounting  Recognize the course outcomes (COs).
Self-created
Principles  Recognize the course topic outcomes accounting
3.Measurement Principles (TOs).
4.Assumptions, Concepts and simulation
 Define accounting. Entrance
Conventions:
- Monetary Unit  Explain the three activities of Survey
- Going Concern accounting- Identification, Recording
- Accrual Based Accounting and Communication.
- Neutrality  Identify main user groups of financial Mid-
- Materiality statements – Internal and external Semester
- Cost Principle users (investors and lenders). Exam /
Final Exam
- Consistency  Explain the ethics in Financial
- Comparability Reporting.
- Business Entity:
i. Proprietorship
 Explain the importance of GAAP
ii. Partnership  Explain the Measurement Principles
iii. Company  Explain and understand the
Assumptions, Concepts and
Conventions and able to apply in
answering the short cases questions.
 Justify the need of having GAAP and
MASB
 Understand the application of MFRS for
revenue recognition.

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 Accounting Equation Ability to: Sharing of

 Transaction Analysis materials and
 Financial Statements  Understand and explain the term information
2 assets, liabilities and owner’s equity.
Introduction 3(2L/1T)  Understand the basic accounting Mid-
Lecture
equation. C01 PO1 Semester
 Show the effects of transactions on PO2 Exam /
PO3 Group Final Exam
accounting equation.
PO7 discussion
 Download the MFRS 101 from the
MASB website.
Tutorial – past
 Understand the importance of each of
year Q&A
the financial statements.

 Analysing and Recording Process Ability to: Sharing of

 The Account materials and
 Understand the source documents information
and their importance.
 Understand the debit and credit C01 PO1 Mid-
Lecture
Recording 3(3L) procedure. PO2 Semester
Process  Identify the correct classification of PO3
Group
Exam /
accounts for Assets, Liabilities, PO7 Final Exam
3 discussion
Owner’s Equity, Drawings, Revenue
and Expenses.
Tutorial – past
 Understand the summary of Dr/Cr
year Q&A
rules.
 Understand how to draw up the
standard form of 3 column general
ledger.

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 Steps in Recording Process Ability to: Lecture

Recording  Introduction to source documents
Process  Journalising  Understand the importance of Group
3(2L/1T)  Posting into ledger using the each of the source documents. discussion
4 three-column form of account.  Understand the purpose of each C01 PO1
of the specialised journal. PO2 Tutorial – past
 Prepare the specialised journal year Q&A
from the source documents. Final Exam
 Posting from the specialised Self-created
journal to three column general accounting
ledger. simulation
 Prepare individual account
receivables and payables.

 Subsidiary ledger (three Ability to: Lecture

column general ledger)
Recording 3(2L/1T)  General ledger  Prepare individual account Group Quiz 1 /
Process  Inventory receivables and payables. C01 PO1 discussion Final Exam
5  Control Accounts  Understand the concept of PO2
inventory. Self-created
 Differentiate the Perpetual and accounting
Periodic Inventory Methods. simulation
 Record inventory using
Perpetual and Periodic Methods.
 Prepare Control Accounts for
receivables, payables, bank and
cash.

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Recording 3(2L/1T)  The Trial Balance Ability to:

Process Lecture
 Understand the purpose of C01 PO1 Mid-
6 preparing the Trial Balance. PO2 Group Semester
 Understand the limitation of Trial PO3 discussion Exam
Balance.
 Prepare the Trial Balance.
 Locate the error.
 Identify errors affecting the Trial
Balance.
 Identify errors not affecting the
Trial Balance.

 Correction of errors Ability to : Lecture

Recording 3(2L/1T) Mid-
7 Process  Locate the errors. C01 PO1 Group Semester
 Identify the errors. PO2 discussion Exam /
 Understand how to make correction Final Exam
of errors affecting the Trial Balance. Tutorial – past
 Understand how to make correction year Q&A
of errors not affecting the Trial
Balance.

3 8

 Timing Issues Ability to:

 Time Period Assumption
 Fiscal and Calendar Year  Understand the timing issues Lecture
 Accrual vs Cash Basis which lead to Accrual Basis
Accounting Accounting. Group
Adjusting 3(2L/1T)  Revenue Recognition Principle  Differentiate between fiscal and C02 PO1 discussion
The  Expense Recognition Principle calendar year. PO4 Final Exam
Accounts  Identify the year-end of business Tutorial – past
enterprise. year Q&A
 Differentiate between Cash
Basis Accounting and Accrual Basis
Accounting.
 Understand the concept of
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Revenue Recognition and Expense

Recognition.
 Understand the term earned and
incurred under Accrual Basis
Accounting.

 Basics of Adjusting Entries Ability to:

 Accruals
 Prepayments  Understand the concept of Lecture Final Exam
 Depreciation accruals and prepayments. C02 PO1
Adjusting 3(2L/1T)  Prepare the journal entries to PO2 Group
9
The record the adjustments. discussion
Accounts  Posting the adjusting entries to
the three column general ledger. Tutorial – past
 Understand the term and year Q&A
concept of depreciation.
 Record the amount of
depreciation in the journal and
ledger (students are not required to
calculate the amount of depreciation)

 The Adjusted Trial Balance and Ability to:

10 Adjusting 3(2L/1T) Financial Statements C02 PO1 Lecture
The  Prepare the Adjusted Trial Balance PO2 Final Exam
Accounts incorporating the adjusting entries. PO7 Tutorial – past
 Prepare the Statement of Profit or year Q&A
Loss.
 Prepare the Statement of Financial
Position.

 Using a Worksheet Ability to:

 Closing the Books
11 Completing 3(2L/1T)  Understand the steps in preparing a C02 PO1 Lecture
The Worksheet. PO3
Accounting  Prepare a Worksheet. PO7 Group

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Cycle  Prepare Adjusting Entries from a discussion

Worksheet.
 Prepare Financial Statements from a
Worksheet.
 Prepare Closing Entries.
 Posting Closing Entries to Three
Column Ledger.
 Prepare a Post- Closing Trial
Balance.

 Cash Control Features Ability to:

 Use of a Bank
 Time Lags  Know who is responsible to make C03 PO1 Lecture Quiz 2 /
 Errors bank deposit. PO2 Final Exam
 Know the element in a cheque. PO3 Group
 Understand that using a cheque is a PO7 discussion
12 method of cash control.
Completing 3(2L/1T)  Understand the importance and
The purpose of a bank statement. Tutorial – past
Accounting  Understand the reasons why the year Q&A
Cycle balance in bank statement and
business bank account is different.
 Reconcile the bank statement with
the business bank account (three
column ledger) or CRJ and CPJ.
 Prepare the Bank Reconciliation
Statement.

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 Cash Control Features (Review) Ability to:

Completing 2(2T)  Financial Statements (Post
The Adjustments)  Prepare the Bank Reconciliation C03 PO1 Lecture
Accounting Statement PO2 Final Exam
Cycle  Prepare the Statement of Profit or PO3 Group
Loss. PO7 discussion
 Prepare the Statement of Financial
13 Position.

 Incomplete Records Ability to: Lecture

Incomplete 1(1L)  Distinguish between Comparison C04 PO1 Assignment
Records and Analysis Method  Differentiate between a single entry PO2 Group PBL
system and a double entry system. discussion
 Distinguish between Comparison and
Analysis Method.

Incomplete 3(2L/1T)  Comparison Method Ability to:

Records  Analysis Method
14  Prepare a Statement of Affairs C04 PO1 Lecture Assignment
(beginning and end of the year). PO2 PBL
 Reconstruct of accounting records PO3 Group
(three column ledger). PO7 discussion
 Prepare the Statement of Profit or Loss.
 Prepare the Statement of Financial
Position.

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 New format for OBE-SCL Lesson Plan SEPT 2017 – JAN 2018

Continuous Assessment:

Topics Marks

Quiz 1 Inventory 5%

Quiz 2 Bank reconciliation statement 5%

Mid-Term Exam Multiple choice questions

(Common) Transaction analysis
3 column general ledger 15%
Trial balance
Correction of errors

(10 November 2017/ Friday/ 2.45 – 4.15 p.m.)

Group Problem Based Learning – Incomplete records 5%

Assignment

Self-created accounting simulation 10%

Total 40%

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