Learning is not a spectator sport.
This is a 15 point course and requires a commitment of 150 hours.
There are 43 hours of contact hours so . . .
Accounting 211 Semester 1 2021
1
My name is Chris Clarke. My roles in ACCTG 211:
-the Course Coordinator
-the lecturer for Topics 1, 2, 4, 5 and 6
-taking three, of the five, tutorial streams


Dr Lina Li is the lecturer for Topic 3 and takes the two remaining tutorial streams
Extended Course Outline – available on Canvas/Modules/Extended Course Outline
It is in your best interests to know what is expected of you in ACCTG 211 so please read
this document in detail.


Enrol yourself onto Piazza. Check that you can access PeerWise.

Assignment 1 document is available on Canvas/Modules/Assignments 1 to 5. This
assignment must be ‘successfully submitted’ before 6 pm on Friday, the 5 March 2021.
Reduce the level of stress in your life by submitting your assignments online a few hours
earlier. Late submissions, in any form, cannot be marked. Why?
Tutorial 1 and Tutorial 2 document is available on Canvas/Modules/Tutorial materials.
Tutorials start in Week 2.
Accounting 211 Semester 1 2021
2
Part of Assignment 1 NZ IAS 1 Presentation of Financial Statements
Topic 3 (three weeks) NZ IFRS 16 Leases
Topic 2 (two weeks) NZ IAS 7 Statement of Cash Flows
Set of Financial Statements/Annual Report*/GPFS:
SFP
SCI
A, L, E
SCE
SCF
Notes
Income, Exps
Topic 4 (one week)
NZ IAS 16 PPE
NZ IAS 36 Impairment of Assets
NZ IAS 38 Intangible Assets
Topic 6 NZ IAS 10 (one week) Events after the reporting period
Topic 5 (four weeks)
NZ IFRS 3 Business Combinations
NZ IFRS 10 Consolidated Financial Statements
NZ IAS 28 Investments in Associates and Joint Ventures
* You will be referring to the 2020 Auckland Airport Annual Report and Air NZ Annual Report for each topic.
Accounting 211 Semester 1 2021
3
ACCTG 211 SELF-STUDY PLAN
Total contact hours plus total self-study hours = 150 hours
Assignment/PW
successfully submitted
by 6 pm
Lecture
Attendance
Tutorial
Attendance
Total
Contact
hours
1
3 hours
-
3
Assign 1 due 05 March
4
2
3 hours
1 hour 1/10
4
PW 1 due 12 March
2
3
3 hours
1 hour
2/10
4
Assign 2 due 19 March
4
4
3 hours
1 hour 3/10
4
PW 2 due 29 March
2
5
3 hours
1 hour 4/10
4
PW 3 due 02 April
2
Week
%
Completion of
Assignment/PW
Note (b)
Feedback review
of assignment
Note (c)
Total self-study
hours
(a) + (b) + (c)
-
Break from classes
6
3 hours
1 hour 5/10
4
Assign 3 due 23 April
4
7
-
-
-
Test on xx April
25
8
3 hours
1 hour 6/10
4
-
-
9
3 hours
1 hour 7/10
4
PW 4 due 14 May
2
10
3 hours
1 hour 8/10
4
PW 5 due 21 May
2
11
3 hours
1 hour 9/10
4
Assign 4 due 28 May
4
12
3 hours
1 hour 10/10
4
Assign 5 due 04 June
4
Exam Study
-
-
-
Exam date TBD
33
Review of topic
materials
Note (a)
10
Total 43
45
100%
Total 107
Accounting 211 Semester 1 2021
4

Accounting cycle

Debit and credit rules

T-account format for GL accounts



Effect on financial statements if an expenditure is expensed v.
capitalised.
Effect on financial statements if receipts of income are recognised as
received v. recognised on a SL basis
Splitting assets/liabilities into current and non-current
Accounting 211 Semester 1 2021
5
Accounting cycle:
ACCTG 102
1
Transaction/event occurs
2
Analyse (residual analysis)
3
Prepare journal entries
4
Post journal entries to GL
(Running balance GL account format emphasis)
5
Prepare a TB
6
Prepare adjusting journal entries at year end
7
Prepare an adjusted TB
8
9
10
ACCTG 211
Prepare a SFP and SCI
Prepare closing journal entries at year end
Prepare a closing TB
(consisting of asset, liability and permanent equity GL account balances )
Accounting 211 Semester 1 2021
6
Accounting equation: A = L + E
Normal
balance
To increase
To decrease
(same as normal balance)
(opposite of normal balance)
A = Assets
L = Liabilities
E = Equity (meaning Total Equity)
Total Equity is made up of:
Share capital
Retained earnings (RE)/Retained profits (RP)
Asset revaluation surplus (ARS)
Various other individual equity accounts
Income accounts – temporary equity a/c’s
Expense accounts – temporary equity a/c’s
Dividends declared – temporary equity a/c
Accounting 211 Semester 1 2021
7
Cookie Jar = Asset
Left side = Debit side
Right side = Credit side
Dr side
Mon morning
Starting quantity of cookies
During Monday
Cookies eaten
During Mon
Cookies bought
Mon evening
Closing quantity
Tues morning
Day 2 starting quantity of cookies
Accounting 211 Semester 1 2021
Cr side
8
Entity B: Expensed
Entity A: Capitalised
$
SFP as at 31/03/2021
$
SFP as at 31/03/2021
PPE
Less AD
SCI for the year ended 31/03/2021
SCI for the year ended 31/03/2021
Office expense
Depn expense
SCF for the year ended 31/03/2021
SCF for the year ended 31/03/2021
Office expense paid
Purchase of PPE
Next four years: No effect on
Next four years: Will have an effect on
(say 5 year life)
. No effect of the
Accounting 211 Semester 1 2021
.
and
9
Entity B: Recognise as received
Entity A:Recognise on a SL basis
$
SFP as at 31/03/2021
$
SFP as at 31/03/2021
Liability:
SCI for the year ended 31/03/2021
SCI for the year ended 31/03/2021
Income
Income
SCF for the year ended 31/03/2021
SCF for the year ended 31/03/2021
Income received
Income received
Next year the
dollar amount of $
and
.
will both show a
Next year: There will be no
in the SFP. The
will again recognise $430 income. The
will show a dollar amount of $360.
Accounting 211 Semester 1 2021
10
SFP
as at:
31/03/20
31/03/21
31/03/22
31/03/23
31/03/24
31/03/20
31/03/21
31/03/22
31/03/23
31/03/24
Current liabilities:
Loan payable
Non-current liabilities:
Loan payable
SCF
for the year ended:
Receipt of loan
Loan repayment
Accounting 211 Semester 1 2021
11

Assignment 1 contains additional revision
type questions.
Now to Topic 2 SCF
Accounting 211 Semester 1 2021
12