22566 Small Business Management and Accounting
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particular session, location and mode of offering is the authoritative source
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Subject handbook information prior to 2024 is available in the Archives.
Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksThere are course requisites for this subject. See access conditions.
Description
This subject provides an in-depth study of business practice and the accounting processes that support management activity in a small business setting. The subject is a core component of the Business Innovation and Financial Management sub-major. The subject focuses on the planning, controlling and reporting of an existing business as well as identifying and evaluating prospective opportunities.
Subject learning objectives (SLOs)
| 1. | demonstrate the knowledge and skills required by accountants for supporting the small business sector with respect to operations, growth and financing |
|---|---|
| 2. | illustrate spreadsheet modelling skills for small business situations relating to continuing operations and the financing of growth |
| 3. | apply skills in the use of small business Computer Accounting applications for recording, reporting and analysing a multi-location business setting |
| 4. | utilise and appraise valuation skills for determining the buying or selling price of a small business |
Contribution to the development of graduate attributes
Small Business Management and Accounting is an elective subject included in the Business Innovation and Financial Management (SMJ08120) and Accounting in Practice (SMJ08195) sub-majors. This subject provides a detailed coverage of a variety of accounting tools applicable for the operation, management and valuation of a small business.
The subject contributes to the development of the following graduate attributes:
- Intellectual rigour and innovative problem solving
- Communication and collaboration
- Professional and technical competence
Teaching and learning strategies
The subject is presented as a “flipped class”. Before each week’s lecture, students are required to download and review documents from the UTS Learning Management System including, Lecture Notes and support files for each lecture. For each lecture topic, students will be required to undertake pre-reading and review the resource materials provided on the learning management system. After the coverage of each week’s lecture topic, the students will be required to work individually and collaboratively, in small groups on selected small business case studies that simulate real world decision scenarios. For all in-class activities, students will receive immediate feedback either from the lecturer and/or group members for collaborative exercises.
The Class contact comprises large group three-hour workshops per week which include lecture time and demonstrations for 1 to 1.5 hours per week and student collaboration activities for 1.5 to 2.0 hours per week. As most class activities require access to a computer, students will need to have access to a laptop computer during lectures. (If you do not own a laptop computer, you may borrow one from UTS Library).
The subject emphasises the importance of the use of accounting processes supplemented by information technology productivity tools to support the information requirements for decision activity in the small business sector.
Students will receive prompt feedback on assessment tasks undertaken with respect to online quizzes, tutorial exercises as well as receive continuous guidance for their major assignment.
Content (topics)
- Introduction to Small Business and the different forms of ownership / business structures
- Sources of finance / financing the small business
- Matching financing to asset maturities – lease or purchase evaluations
- Financial Modelling of business processes using Microsoft Excel
- Small business service organisations and the management of payroll costs - including leave provisions and taxation implications (Using Date, Lookup and Logical functions in Excel)
- Using a Computer Accounting program to design a chart of accounts, process transactions and generate financial reports for a multi-location business
- Use accounting techniques for the analysis of operating and financial performance of each store in a multi-location business
- Valuation of a small business – buying or selling a small business
- Franchising – buying into an existing business model
Assessment
Assessment task 1: In class activities (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 4 |
|---|---|
| Weight: | 15% |
| Length: | For lectures 1 to 7 inclusive there will be a number of questions that will need to be completed by students and submitted on Canvas LMS. All work is individual and students will be required to sit for in-class quizzes relating to the material covered. |
| Criteria: |
*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 2: Quizzes (Individual)*
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 4 |
|---|---|
| Weight: | 40% |
| Length: | Each Quiz will have a time limit of 35 minutes in duration - please be sure to be proficient in the completion of the lecture demonstration questions and weekly homework exercises as this will help you greatly in the successful completion of the online quizzes. |
| Criteria: |
*Note: Late submission of the assessment task will not be marked and awarded a mark of zero. |
Assessment task 3: Case Study using MYOB Computer Accounting Software (Individual )
| Objective(s): | This addresses subject learning objective(s): 1 and 3 |
|---|---|
| Weight: | 45% |
| Length: | This assessment task comprises the submission of 10 accounting reports summarising business activity. The reports are to be submitted in a single spreadsheet file comprising 10 separate sheets titled as follows: 1: Balance Sheet (Please ensure ACCOUNT NUMBERS are included in the report). 2: Profit and Loss (Accrual) (Please ensure ACCOUNT NUMBERS are included in the report). 3: Jobs – Profit & Loss 4: Transaction (General) Journal (Please ensure ACCOUNT NUMBERS are included in the report). 5: Accounts Receivables Reconciliation Summary 6: Accounts Payables Reconciliation Summary 7: Inventory Item Value Reconciliation 8: GST [Summary Accrual] 9: Cash Disbursements Journal 10: Cash Receipts Journal |
| Criteria: |
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Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Recommended texts
Pazmandy, G., 'MYOBv19.12 - Apractial Guide to Computer Accounting.' Tekniks Publications, Sydney2018.
Bedford, D., Govinder, J., Pazmandy, G., 'Business Computing - Using Microsoft Office 2013.' Tekniks Publications, Sydney 2013
References
Provided as required
Other resources
There are sufficient online resources to support each of the topics covered. For example, supplemental material is available on Youtube.com on all of the topics covered including instructional videos on how to use MYOB computer accounting software..