| Preparation for Tertiary Accounting | ||
|---|---|---|
| Topic | Activity/Assessment | |
| Outcome for Day 1: The purpose of the first day is to emphasise the application of accounting in our everyday lives as well as the application of accounting in various “non-accounting” careers | ||
| Day 1 | Introduction by the lecturer. Discussion of differences between university and school: self-discipline, respect for others and taking responsibility for yourself | Students are encouraged to become co-creators of learning. The first step is to identify house rules for “us” for the duration of PTA |
| Discussion of skills needed to study accounting, i.e. reading, paraphrasing, mathematical abilities, critical evaluation and reasoning and time management | Brain teasers are given to students as an ice breaker. The purpose – developing critical thinking skills – is explained. Students form informal groups to solve the brain teaser | |
| Introduction to research, academic journals and referencing style | Individual assessment (should be completed after class): reading an academic article on the history of Accounting (Sangster, 2010). Answer short questions and reflect on the article. Consult other academic sources (not Wikipedia) with the application of the referencing style commonly used at the university | |
| Revision of mathematical ratios | Class activity (individual) | |
| Making a profit: one of the reasons for doing business | Class activity: calculations using gross profit percentages | |
| Revision of mathematics: unknown factors | Class activity | |
| What is a financial period? | Class activity: preparing timelines and how to use timelines in solving Accounting questions | |
| What is Accounting? | Internal vs External users; different types of Accounting; an introduction to the accounting cycle. What is IFRS and a discussion on the Conceptual Framework and its purpose. Examples of source documents and different transactions are discussed | |
| Day 2 | Outcomes for Day 2: The purpose of Day 2 is to explain the double entry principle to students by making use of the definition and recognition requirements contained in the Conceptual Framework. Effort is made to “demystify” the jargon that is entailed in the definitions by making use of a lot of class discussions during which examples for the elements are discussed. Students are required to form groups of not more than four members per group. Ideally group members should be enrolled for the same degree programme. Activities undertaken on Days 2 and 3 will be in the form of a competition. Marks for group assignments as well as points scored in the activity on the last day will be used to decide the winning team. Group assignments are completed after the contact session, on campus. The venues are reserved for these students’ exclusive use. The lecturer is also available on campus for one-on-one consultations if students need assistance with any content | |
| The conceptual framework: definition and recognition requirements | Students are required to, in their groups, classify items according to the elements of the Accounting equation. Class activities are marked in class so students receive immediate feedback and have the opportunity to reflect on their learning | |
| Explanation of the Accounting equation and the double entry principle | Various class activities provide students the opportunity to collaborate as a group in class. The analysis of transactions (according to its effect on the Accounting equation) are done extensively | |
| Integration of Accounting skills and knowledge: case study | A second group assignment is given in the form of a case study. Part 1 of the case study is the analysis of transactions according to its effect on the Accounting Equation. The difference between this case study and the other assignments is that the type of transactions and activities included in the case study simulate a real-life business and it is, therefore, more authentic. Some of the information in the case study is ambiguous, unclear or inadequate. This is by design and its purpose is to stimulate critical thinking. Students are encouraged to obtain assistance from various sources, including the lecturer, textbooks or the internet. Students are also encouraged to teach each other. This assists in fostering a learning community | |
| Day 3 | Outcomes for Day 3: The purpose of Day 3 is to explain the purpose of source documents as well as the purpose of various subsidiary journals | |
| Accounting cycle | The Accounting cycle is explained and discussed in detail. Class activities are done in groups with the lecturer as the facilitator. Students are encouraged to ask for assistance and to overcome barriers of learning in this way | |
| Day 4 | Outcomes for Day 4: The purpose of Day 4 is to complete the Accounting cycle. Posting to the general ledger, preparing a trial balance and preparing elementary financial statements for sole proprietors from part of the learning outcomes for this day | |
| Posting to the general ledger | The column totals of the subsidiary journals in the suggested solutions of the case study are used to complete the general ledger | |
| Preparing a trial balance | Based on the previous activity, the accounting process is continued by preparing a trial balance from the general ledger that was just done | |
| Preparing the statement of profit or loss and other comprehensive income as well as the statement of financial position (elementary statements without the accompanying notes) | The trial balance is used to prepare the two basic financial statements for the entity used in the case study. A class discussion is facilitated through which the statements are interpreted | |
| Close of PTA and integration | PTA is closed off by playing a betting game which provides groups a final opportunity to earn points. The objective of the game is to build a structure from recycled material that can catch an egg when the egg is dropped from a height of about 1.7metres above ground. Each group receives the same amount of virtual money. Each group has to appoint a treasurer and a bidder Groups get the opportunity to bid for items (such as rubber bands, newspapers, toilet rolls, plastic bags, masking tape, paper boxes etc). The highest bid for a single item wins. Prices paid are subtracted from the group’s virtual bank balance After bidding has closed, the group plans what will be used to build the structure. Excess goods are put up for public auction. In this phase groups can also bid to buy items from one another, but the money goes to the seller and is subtracted from the buyer The last phase entails building of the actual structure. A fresh egg is dropped on each structure. If the egg is undamaged, the group scores a point. If more than one group succeeded, the group with the highest bank balance wins The winners of the final phase gets a point and this is added to the marks obtained throughout group assignments. The winning group is announced and walks away with a prize | |
| Preparation for Tertiary Accounting | ||
|---|---|---|
| Topic | Activity/Assessment | |
| Outcome for Day 1: The purpose of the first day is to emphasise the application of accounting in our everyday lives as well as the application of accounting in various “non-accounting” careers | ||
| Day 1 | Introduction by the lecturer. Discussion of differences between university and school: self-discipline, respect for others and taking responsibility for yourself | Students are encouraged to become co-creators of learning. The first step is to identify house rules for “us” for the duration of PTA |
| Discussion of skills needed to study accounting, i.e. reading, paraphrasing, mathematical abilities, critical evaluation and reasoning and time management | Brain teasers are given to students as an ice breaker. The purpose – developing critical thinking skills – is explained. Students form informal groups to solve the brain teaser | |
| Introduction to research, academic journals and referencing style | Individual assessment (should be completed after class): reading an academic article on the history of Accounting ( | |
| Revision of mathematical ratios | Class activity (individual) | |
| Making a profit: one of the reasons for doing business | Class activity: calculations using gross profit percentages | |
| Revision of mathematics: unknown factors | Class activity | |
| What is a financial period? | Class activity: preparing timelines and how to use timelines in solving Accounting questions | |
| What is Accounting? | Internal vs External users; different types of Accounting; an introduction to the accounting cycle. | |
| Day 2 | Outcomes for Day 2: The purpose of Day 2 is to explain the double entry principle to students by making use of the definition and recognition requirements contained in the Conceptual Framework. Effort is made to “demystify” the jargon that is entailed in the definitions by making use of a lot of class discussions during which examples for the elements are discussed. Students are required to form groups of not more than four members per group. Ideally group members should be enrolled for the same degree programme. Activities undertaken on Days 2 and 3 will be in the form of a competition. Marks for group assignments as well as points scored in the activity on the last day will be used to decide the winning team. Group assignments are completed after the contact session, on campus. The venues are reserved for these students’ exclusive use. The lecturer is also available on campus for one-on-one consultations if students need assistance with any content | |
| The conceptual framework: definition and recognition requirements | Students are required to, in their groups, classify items according to the elements of the Accounting equation. Class activities are marked in class so students receive immediate feedback and have the opportunity to reflect on their learning | |
| Explanation of the Accounting equation and the double entry principle | Various class activities provide students the opportunity to collaborate as a group in class. The analysis of transactions (according to its effect on the Accounting equation) are done extensively | |
| Integration of Accounting skills and knowledge: case study | A second group assignment is given in the form of a case study. Part 1 of the case study is the analysis of transactions according to its effect on the Accounting Equation. The difference between this case study and the other assignments is that the type of transactions and activities included in the case study simulate a real-life business and it is, therefore, more authentic. Some of the information in the case study is ambiguous, unclear or inadequate. This is by design and its purpose is to stimulate critical thinking. Students are encouraged to obtain assistance from various sources, including the lecturer, textbooks or the internet. Students are also encouraged to teach each other. This assists in fostering a learning community | |
| Day 3 | Outcomes for Day 3: The purpose of Day 3 is to explain the purpose of source documents as well as the purpose of various subsidiary journals | |
| Accounting cycle | The Accounting cycle is explained and discussed in detail. Class activities are done in groups with the lecturer as the facilitator. Students are encouraged to ask for assistance and to overcome barriers of learning in this way | |
| Day 4 | Outcomes for Day 4: The purpose of Day 4 is to complete the Accounting cycle. Posting to the general ledger, preparing a trial balance and preparing elementary financial statements for sole proprietors from part of the learning outcomes for this day | |
| Posting to the general ledger | The column totals of the subsidiary journals in the suggested solutions of the case study are used to complete the general ledger | |
| Preparing a trial balance | Based on the previous activity, the accounting process is continued by preparing a trial balance from the general ledger that was just done | |
| Preparing the statement of profit or loss and other comprehensive income as well as the statement of financial position (elementary statements without the accompanying notes) | The trial balance is used to prepare the two basic financial statements for the entity used in the case study. A class discussion is facilitated through which the statements are interpreted | |
| Close of PTA and integration | PTA is closed off by playing a betting game which provides groups a final opportunity to earn points. The objective of the game is to build a structure from recycled material that can catch an egg when the egg is dropped from a height of about 1.7metres above ground. Each group receives the same amount of virtual money. Each group has to appoint a treasurer and a bidder | |
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