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BIBM501 – Accounting Practices

Module code
Module title
Accounting Practices
Students will record and process financial transactions and prepare financial statements and cash budgets for entities in accordance with current accounting practices.
  • BI1401
  • BI1501
  • BI1701
NZQA Level
Level 5
NZQA Credits
Delivery method
  • Web-Supported
Learning hours
Total learning hours
Resources required
Learning Outcomes
1. Process transactions from source documents to trial balance manually for a sole trader
2. Process transactions from source documents to financial statements using a commercial
software accounting package for a company registered for GST
3. Demonstrate knowledge of a range of internal controls and prepare bank reconciliations
4. Process balance day adjustments and prepare financial statements
5. Describe the major similarities and differences between the various accounting entities
and be able to prepare financial statements for one of partnerships, trusts or not-for-profit
6. Prepare a cash budget for a sole trader or small company incorporating GSTusing
spreadsheet software
- Chart of accounts design and coding
- Source documents
- Data input
- General and subsidiary ledgers
- Reconciliation of control accounts with subsidiary ledgers
- Trial balance
- Period end accruals
- Adjusting for errors
- Depreciation
- Bad and doubtful debts
- Reversing entries
Teaching and Learning Strategy
Teaching will involve blended delivery methods incorporating the Moodle online delivery platform. Other delivery methods my involve theoretical and practical classes, face to face, lectures, tutorials, workshops, group activities, guest tutors, field trips, role-play, and video conferencing, as appropriate.
Assessment Criteria
Candidates must achieve a minimum result of 40 in the final examination of this module. They must also achieve a minimum C grade pass overall from all assessments to receive a passing grade for the module.
Learning and Teaching Resource
Required Text:
An extended reading list will be supplied by the tutor at commencement of the module. This will be updated annually.

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