INSTITUTE of BUSINESS MANAGEMENT

College of Business Management

Department of Accounting & Finance

Accounting & Financial Information Systems Acc 302

Course Specification

1. Overall aims of course

The objective of the course is to provide students with an understanding of how information
technology can support the activities of the accountant and management within an
organization and the problems associated with controlling and auditing such resulting
information systems.

2. Intended learning outcomes of course (ILOs)

a. Knowledge and understanding:

 The use of accounting and other information systems for managerial applications.

 The development, management and exploitation of information systems and their

impact upon organizations.
 The comprehensive use of relevant communication and information technologies for
application in business and management.
 The risk management and control of accounting information systems.

b. Intellectual skills

 The cognitive skills of critical thinking, analysis and synthesis, including the ability to
identify assumptions, evaluate statements in terms of evidence, to detect false logic or
reasoning, to identify implicit values, and to define terms adequately and to
generalize appropriately.
 Effective qualitative problem solving and decision making skills.
 The ability to create, evaluate and access a range of options, together with the
capacity to apply ideas and knowledge to a range of business and other situations.

c. Professional and practical skills

This module develops:

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  Demonstrate the application of recording information through software related to the
areas of accounting and finance.
 The ability to understand and apply business models and processes.
  The effective use of communication and information technology (CIT) skills for
business applications.
 The ability to conduct research into business and management issues, either
individually or as part of a team.
 Develop arguments referring to appropriate sources and draw conclusions
Present key points clearly, both in written and verbal format.

d. General and transferable skills

 Effective oral and written communication skills in a range of traditional and

electronic media.
 Effective self-management in terms of time, planning and behavior, motivation,
individual initiative and enterprise.
 Learning to learn and developing an appetite for reflective, adaptive and collaborative
learning.
 The interpersonal skills for effective listening negotiating, persuasion and
presentation
 Develop data processing and interpretation skills

3. Contents:

Topic

1-2 Overview of Financial Accounting

A central feature of Accounting in today’s’ business world is the interaction of
accounting professionals with computer-based information systems. As primary users
of information systems in organizations, accountants must participate in their design
and implementation; and understand their operation. Accountants must measure and
evaluate the performance of the information system, assess the quality of information
processing and evaluate the accuracy of data input and information output. This
chapter focuses on the basic introduction to Financial Accounting.
Learning Outcomes:
1. Define generally Accepted Accounting Principles(GAAP)
2. Explain Financial Reporting & its objectives.
3. Apply the rules of debit and credit in recording revenue and expenses
4. Prepare the Financial statements and worksheet
Teaching Material:
th
Chapter 3 & 4 Meigs 13 edition
Pedagogy

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 1. Input session (students centered)
2. Lecture with discussion and problem solving

3-4 Accounting Information System

An effective Accounting information system (AIS) is essential to any
organization’s long run success, without the means of monitoring the events that
occur; there would be no way to determine how well the organization is
performing. The purpose of this chapter is to give overview about Accounting
information system (AIS), explanation about the differences between the
Management information system (MIS) and AIS and the differences between
manual & computerized Accounting.

Learning Outcomes:

Understand an Accounting information system (AIS) and describe the

basic functions it performs.
Discuss the importance of studying the design and management of AIS.
Explain the role played by AIS in company’s value chain and how it can
add value to a business.
Describe and contrast the basic strategies and strategic positions that a
business can adopt.
 Explain the differences between manual & computerized Accounting

Teaching Material:
Accounting Information System ,Chapter 1
Pedagogy
1. Pre Class independent study
2. Input session (students centered)
3. Lecture with discussion

5-6 General Ledger: Special Journals & Subsidiary Ledgers

This chapter focuses on how to design and document REA (resources, events and
agents) relational database for an accounting information system and how to prepare
and relate the subsidiary ledgers and special journals in the Accounting information
system.
Learning Outcomes

Discuss the steps for designing and implementing a database

system Use, the REA data model to design an AIS database.
Draw an entity-relationship diagram of an AIS
database. Prepare subsidiary ledgers & special journals.

Teaching Material:
Accounting Information System ,Chapter 5 & Computer Accounting with
Quickbooks Complete

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 Pedagogy
1. Lecture with practical training
2. Review and evaluation

7-8 Chart of Accounts

All of the transaction which are processed in the business eventually get posted or
stored in the set of accounts known as chart of accounts. This chapter focuses on the
preparation of chart of accounts.

Learning Outcomes:

 Explain how to Open a new

file  Maintain chart of
accounts
 Record Journal Entries
 Enquire about an account

Teaching Material:
Computer Accounting with Quickbooks Complete
& Accounting Information System, Chapter No1

Pedagogy
1. Pre class independent study
2. Student centered input session
3. Lecture with practical training
4. Review and evaluation
9-10 AIS for General ledger and Reporting Cycle
This chapter describes the information processing required to update the general ledger
and to produce the reports for internal and external users.

Learning Objectives:

Enter beginning
balances Prepare
adjusting entry
Prepare financial
statements Prepare closing
entries
Prepare post closing trial balance

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy:
1. Lecture with practical training

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11- Cash Transactions
12 This chapter explains the documents and procedures used in an Accounting information
System to collect and process the data related to cash transactions.
Learning Outcomes

Enter a deposit.
Handle Cash receipts &
payments. Know about recurring
checks.
Explain the differences between cash book & bank statement

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy
1. Student centered input session
2. Lecture discussion and practical training
3. Review and evaluation
13- Inventory and Integration
14 Quickbooks tracks the buying and selling of inventory items and automatically updates
the quantities after each posted transaction. The objective of the chapter is to maintain
and process the inventory transactions.

Learning Outcomes
 Setting up item list and item purchased and sold on credit.
Entering an initial inventory count and perpetual inventory
system. Reorder points and purchase order.
Assembling &
manufacturing Inventory
adjustment.

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy
1. Pre class independent study
2. Student centered input session
3. Lecture with practical training
4. Review and evaluation
15-16 AIS for Production cycle
The objective of the chapter is to understand recurring set of business activities and
related data processing operations associated with the manufacturing of products how
the production cycle is linked to the other subsystems in a company’s Accounting
Information System.
Learning Objectives

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 Understand the basic business activities and related data processing
operations performed in the production cycle.
Explain the role of company’s cost Accounting system in achieving
it manufacturing goals.
Learn to make the key decision made in the production cycle and identify
the information required for these decisions to be made.
Learn about the major threats in the production cycle and evaluate the
various control procedures for dealing with them.
Understand and read REA data model of the production
cycle.  Develop the production cycle REA data model.

Teaching Material:
Accounting Information System, Chapter 13

Pedagogy
1. Student centered session
2. Lecture discussion with practical training

17-18 Midterm exams of 2 hours for 30 marks

19- Account Receivables
20 The objective of the chapter is to organize and monitor the money that comes into the
business from the customers. The money that is received from customers is tracked in
account receivables.

Learning Outcomes
An open item system.
Create customer record, opening customer balances, their transaction details
and setting up their default terms.
Credit terms and sales tax, sales invoice and credit given to account
receivable. Integrating with general ledger.

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy
1. Pre class independent study
2. Student centered input session
3. Lecture with practical training
4. Review and evaluation

21-22 The Revenue Cycle: Sales and Cash Collection

This chapter focuses on the recurring set of business activities and related information
processing operations associated with providing goods and services to customers and
collecting cash in payment for those sales and how the information about revenue cycle
activities flows to the other Accounting cycles.
Learning Objectives:
Understand the basic business activities and related data processing operations

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 performed in the revenue cycle.
Learn to make the key decision made in the revenue cycle and identify
the information required for these decisions to be made.
Learn about the major threats in the revenue cycle and evaluate the
various control procedures for dealing with them.
Understand the data model (REA diagram) of the revenue
cycle. Teaching Material:
Accounting Information System, Chapter 11
Pedagogy:
1. Lecture discussion with practical training
2. Review and evaluation
23- 2nd Mid Term Exam
24
The one hour lab based exam to assess the learning outcomes, taught during the class
room and lab sessions.

25- Accounts Payable

26 This chapter focuses to organize and monitor the information related to Accounts
payable, the money that is paid to suppliers or vendors.

Learning Outcomes
Create vendor record, opening vendor balances, their transaction details
and printing purchase order.
Credit terms from vendor and credit
purchase. Integration with general ledger.
Cash paid to accounts payable.
Print an account payable aged analysis.

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy
1. Pre class independent study
2. Student centered input session
3. Lecture discussion with practical training

27- Expenditure cycle

28 The objective of the chapter is to understand the recurring set of business activities
and related data processing operations associated with the purchase of and payment
for goods and services and the flow of information within the organization to the
expenditure cycle from the revenue and production cycles, inventory control and
various departments about the need to purchase goods and material.
Learning Objectives:

Understand the basic business activities and related data processing operations

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 performed in the expenditure cycle.
Learn to make the key decision made in the expenditure cycle and identify
the information required for these decisions to be made.
Learn about the major threats in the expenditure cycle and evaluate the
various control procedures for dealing with them.
Understand the data model (REA diagram) of the expenditure cycle.

Teaching Material:
Accounting Information System, Chapter 12

Pedagogy
1. Lecture discussion with practical training
2. Review and evaluation

29-30 Payroll
This chapter focuses on the automation of the payroll process that gives a great deal of
flexibility in setting up the payroll system .the system complies with federal, state and
local regulations in the areas.

Learning Outcomes
Understand the Gross pay, deductions and net pay.
How to run the payroll system setup wizard for Quickbooks.
Setting up the general payroll information, employee record and pay
roll categories.
Preparing a payroll using a payroll clearing
account. Adjustment to the standard pay.
Recording actual wages paid

Teaching Material:
Computer Accounting with Quickbooks Complete

Pedagogy
1. Pre class independent study
2. Student centered session
3. Lecture discussion
4. Review and evaluation

31-32 The Human Resource Management and Payroll Cycle

This chapter focuses on the recurring set of business activities and related data
processing operations associated with effectively managing the employee
workforce.HRM system is one of the largest and most important components of the
accounting Information System.

Learning Outcomes
Understand the major business activities related data processing
operations performed in the human resource management (HRM) / payroll

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 Learn to make the key decision made in the HRM / payroll cycle and identify
the information required for these decisions to be made.
Learn about the major threats in the HRM / payroll cycle and evaluate the
various control procedures for dealing with them.
Understand the data model (REA diagram) of the HRM / payroll
cycle. Develop the HRM / payroll cycle data model (REA diagram).

Teaching Material:
Accounting Information System, Chapter 14
Pedagogy
1. Pre class independent study
2. Lecture discussion with practical training
3. Review and evaluation

33- Final Exam

34 The course will be assessed by means of an individual assessed computer lab based
exam for 40% of the overall marks awarded.

1. Teaching and learning methods

This course comprises of three basic components. The first component discusses the basic
underlying business process. The second component deals with related business transaction
documentations. Third component is hand on experience on computerized accounting software.
This course is delivered through a series of structured lectures, tutorials and In-class computer
activities using accounting software and the documentation of accounting information system.
Students are expected to take an active role in their learning experience and will be expected to
have read the assigned material prior to class.

Assessment Objectives to assess.. Week Weight

methods age
1 Quizzes Knowledge and understanding 4, 7, 13 15%

2 Assignments/Project Knowledge, understanding and application various 15%

3 Mid Term Exam Knowledge, understanding and 9 30%

application

4 Final Examination Knowledge, understanding and application 17 40%

Total 100%

Assignment/Project:
In the assignment/project students are required to submit the projects by using their
Quickbooks Accounting Software knowledge and Application.
 Essential Readings:

th
1. Accounting Information System , 12 edition By Marshall Romney, Paul Steinbart
2. Accounting: The Basis for Business Decisions 13th Edition by Meigs, Williams, Haka.

Recommended Readings:
th
1. Acconting Information Systems ,6 editon by James A. Hall
nd
2. Accounting Information Systems,2 edition by James Richard Davis and Barry E.
Cushing

7. Facilities required for teaching and learning

 Computer Lab with Quickbooks 2016, installation 

Multimedia
 Panoramic whiteboard across front class wall  Clock
on back and front class wall

Room # E-mail:

Head of Department / Date: /

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