University of Technology Sydney

22566 Small Business Management and Accounting

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2020 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

There 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)

Upon successful completion of this subject students should be able to:
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 achievement of the UTS Business School graduate attributes in that it aims to:

  1. Enhance business knowledge and concepts
  2. Requires critical thinking, creativity and analytical skills to business decision situations facing managers
  3. Develop communication and interpersonal skills via interactive teaching and collaborative problem solving
  4. Employ business practice oriented skills in planning and reporting business operations using computer based productivity software

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 UTSOnline 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 UTSOnline. 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: 30%
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 UTSOnline. All work is individual and students will be required to sit for online quizzes relating to the material covered.

Criteria:
  1. Evidence of research capability by the ability to prepare a written submission on ownership business structures and the provision of informative, analytical reports relating to management decision alternatives.
  2. Evidence of business computing skills by demonstrating, via the submission of a weekly home assignment, solutions to questions that require the use and application of software productivity tools.
  3. Clarity in the provision of written comments relating to business activity and the ability to interpret quantitative reports detailing the financial consequences associated with decision alternatives facing management.
  4. The craftsmanship in the preparation of weekly submissions – the detailing, layout and composition of the work submitted for marking.

Assessment task 2: Quizzes (Individual)

Objective(s):

This addresses subject learning objective(s):

1, 2 and 4

Weight: 40%
Length:

Each Quiz will be 60 minutes in duration.

Criteria:
  1. Evidence of knowledge, use and application of business productivity software for the generation of information products supporting decision activity.
  2. Evidence of ability to use an electronic spreadsheet to evaluate decision alternatives promptly.
  3. Clarity and engagement of exercises demonstrating an ability to generate quantitative information support and be able to select the most favourable decision alternative in an efficient manner given a time constraint (being the exam duration).

Assessment task 3: Case Study using MYOB Computer Accounting Software (Individual )

Objective(s):

This addresses subject learning objective(s):

1 and 3

Weight: 30%
Criteria:
  1. Evidence of the understanding of accounting concepts used for the analysis and recording of business transactions.
  2. Evidence of skills associated with the set-up and operation of a multi-location business using computer based accounting software (MYOB).
  3. Clarity as evidenced by the provision of accurate accounting reports detailing the financial results of operations of a multi-location business.
  4. Craftsmanship in the preparation and design of the financial reports.

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..