Advanced Elective Module : Accounting Storyboard A Course available to Secondary Three Express and Normal Academic Students
Accounting Storyboard <ul><li>1. To allow students to simulate an incorporation of a new business in Singapore. </li></ul><ul><li>2. To provide a hands-on, practical experience of using the an accounting software package for recording basic transactions for a small business. </li></ul><ul><li>3. To provide students a fun and collaborative environment for them to learn relevant technical skills through the “Accounting Storyboard” game. </li></ul>
<ul><li>Upper Secondary School Students who </li></ul><ul><li>(1) are not taking Principles of Accounts and </li></ul><ul><li>(2) have not taken AEM/SP/BZ/005 - Making Dollars and "Sense" for Entrepreneurs." </li></ul>
At the end of the module, students will be able to: <ul><li>Simulate the procedures of incorporating </li></ul><ul><li>a company in Singapore. </li></ul><ul><li>b) Use an accounting software to capture </li></ul><ul><li>basic business transactions. </li></ul><ul><li>c) Simulate the maintenance of a petty cash </li></ul><ul><li>system and prepare bank reconciliations. </li></ul><ul><li>d) Investigate discrepancies and use financial figures to make simple business decisions. </li></ul>
Synopsis <ul><li>The students will be introduced to the principles of company incorporation and the basics book-keeping for a small business set-up. </li></ul><ul><li>They will also be taught how to account for petty cash and to prepare a basic reconciliation. </li></ul><ul><li>They will learn to use the Realtime Accounting software to capture various business activities in the company’s computerized accounting system. </li></ul><ul><li>Students will then learn to prepare the financial statements and make simple business decisions. </li></ul>
Course Duration & Implementation Schedule <ul><li>Lecture 20 Hours </li></ul><ul><li>Tutorial/Practical 20 Hours </li></ul><ul><li>Total Duration 40 Hours </li></ul><ul><li>This course will be taught over 14 weeks during the school term. The 14 weeks will consist of 13 3-hour sessions, and the last week of 1-hour session for the final test. </li></ul><ul><li>Other tests and projects will be incorporated into the tutorial/practical time. </li></ul>
Teaching & Learning Approach(es) <ul><li>Students’ interest and learning will be enhanced through the use of an integrative game called “The Accounting Storyboard”. </li></ul><ul><li>Each week, students will be given a part of an evolving story about the business that they have incorporated. </li></ul><ul><li>Through the use of role plays and simulations, students learn the basics of accounting in a fun and experiential way. </li></ul>
Content/Syllabus A INTRODUCTION TO FORMATION OF COMPANY 1 Understanding the company formation process 1.1 Explain the nature of companies. 1.2 Explain and simulate the process of company incorporation in Singapore
Content/Syllabus B INTRODUCTION TO FINANCIAL ACCOUNTING 2 Understand the basic concepts of accounting 2.1 Explain the functions of accounting and the accounting process 2.2 State and explain the components of the Accounting Equation and the Profit and Loss account 2.3 Explain the Double entry concept.
Content/Syllabus <ul><li>Explain the nature of and record the following transactions using Realtimme accounting software: </li></ul><ul><li>Sales transactions </li></ul><ul><li>Purchases transactions </li></ul><ul><li>Journal adjustments </li></ul>2.6 Set up the Customer and Supplier Database in the Realtimme Accounting Software system. 2.5 List the types of source documents used in a business environment. 2.4
Content/Syllabus <ul><li>Explain the nature of and generate the following reports from the Realtimme Accounting software: </li></ul><ul><li>Customer statements </li></ul><ul><li>Accounts receivables aging report </li></ul><ul><li>Suppliers statements </li></ul><ul><li>Accounts payable aging report </li></ul>2.7
Content/Syllabus C ACCOUNTING FOR CASH 3 Understand and apply concepts and procedures to account for cash 3.1 Demonstrate the mechanism of the petty cash imprest system. Journalise entries for advances, reimbursements and cash excess and shortages in Real Time Accounting software. 3.2 Prepare bank reconciliations using the Realtimme accounting software.
Content/Syllabus D CORRECTION OF ERRORS 4 Understand the nature of error occurrences in accounting records and how to correct these errors. 4.1 Describe the types of errors that can arise in the recording of transactions and prepare journals to correct these. 4.2 Administer corrections of such errors in the Realtimme accounting software system.
Content/Syllabus E PROFIT AND LOSS STATEMENT AND BALANCE SHEET 5 Understand the importance of the profit and loss statement and balance sheet to business, and how to prepare these statements 5.1 Explain the interpretation of the profit and loss figures. 5.2 Explain how the profit and loss account linked to the balance sheet. 5.3 Generate the final balance sheet using the Realtimme accounting software system and interpret the figures to make business decisions
Teacher in charge <ul><li>Mr Ouyeong </li></ul>
Credits by : Leaders: Germaine Ho & Lim Li Xuan Members: Peggie Ho, Gelsel Chen, Eunice Low & Victor Toh Sec 1E4 Tanglin Secondary School