New format for OBE-SCL Lesson Plan Okt2022 – Feb2023

FAKULTI PERAKAUNAN
UNIVERSITI TEKNOLOGI MARA
40450, SHAH ALAM

PROGRAM NAME : DIPLOMA IN ACCOUNTANCY

PROGRAM CODE : AC110
COURSE NAME : FINANCIAL ACCOUNTING 1
COURSE CODE : FAR110
LECTURE : 2 hours/week
TUTORIAL : 1 hour/week
LECTURER :

COURSE OUTCOMES
CLO1 Describe the terms and the activities associated with financial accounting. (C2)

CLO2 Prepare accounting records and the financial statements of a sole-proprietorship business. (C3)

CLO3 Demonstrate entrepreneurial skills in task related to financial accounting simulation package for a sole-proprietorship
business. (A3)

PROGRAM OUTCOMES
PO1 Apply accounting knowledge and understanding in relevant
organisations.

PO2 Provide solutions using scientific skills to accounting issues and

problems.

PO3 Display practical skills in accounting tasks for relevant organisations.

PO4 Demonstrate interpersonal skills.

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PO5 Display communication skills.

PO6 Display digital skills.

PO7 Demonstrate numeracy skills.

PO8 Display leadership, autonomy, and responsibility.

PO9 Demonstrate personal skills.

P10 Demonstrate entrepreneurial skills.

P11 Display ethics and professionalism.

CO-PO MATRIX MQF 2.0

PO1 PO2 PO3 PO4 PO5 PO6 PO7 PO8 PO9 P10 P11

CO1

CO2

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CO3

PROGRAM EDUCATIONAL OBJECTIVES (PEO):

AFTER COMPLETING THIS PROGRAM, graduates would be:
PEO 1 Accounting technicians or administrators who apply accounting knowledge and
solutions in providing quality accounting services.
PEO 2 Accounting technicians or administrators who practice functional work skills in
relevant industries.
PEO 3 Accounting technicians and administrators who demonstrate good personal skills,
entrepreneurial skills with ethics and professionalism.

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CO-PEO MATRIX
PEO1 PEO2 PEO3

CO1

CO2

CO3

PLAN STRUCTURE
Contact Learning
Chapter Week Topic Lecture/ Tutorial coverage Topic Outcome CO PO Assessment
Hours Model
▪ Understand the
significance and
importance of adopting
OBE for the course.
Introduction
on OBE-SCL,
Ice breaking. ▪ Recognize FACT
Entrance ▪ Overview of OBE. program educational
Sharing of ▪ Entrance
objectives (PEOs).
1 1 survey, ½ (1L) ▪ Overview of the course via materials and Survey
Assessment lesson plan and syllabus ▪ Recognize FACT information
contents. program outcomes
plan and SLT (POs).
▪ Recognize the course
outcomes (COs).
▪ Recognize the course
topic outcomes (TOs).
1 1 Introduction to 3(3L) 1.1 Definition of accounting. Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
Accounting 1.2 Three basic activities: ▪ Define accounting. notes and ▪ Final Exam
1.2.1 Identification information
1.2.2 Recording ▪ Explain the three ▪ Lecture
1.2.3 Communication activities of accounting-
▪ Self-created
1.3 Objective of financial Identification, Recording
accounting
reporting. and Communication.
simulation
1.4 Users and uses of accounting

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Information:
1.4.1 Internal users
1.4.2 External users
1.5 Qualitative characteristic of
accounting information:
1.5.1 Relevance
1.5.2 Faithful representation
1.5.3 Comparability
1.5.4 Verifiability
1.5.5 Timeliness
1.5.6 Understandability
1 2 Introduction to 3(2L/1T) 1.6 The Building Blocks of
Accounting Accounting:
1.6.1 Ethics in financial
reporting.
1.6.2 Generally accepted
accounting principles and
accounting standard.
1.6.3 Measurement Principles:
-Historical cost principle
-Objectivity principle
-Full disclosure principle
-Revenues and
expenses recognition
principle
1.6.4 Accounting concepts,
conventions and
assumptions:
-Monetary unit assumption
- Economic entity concept
- Going concern concept
-Accrual-based
accounting
-Neutrality
-Materiality
-Consistency
1.7 Business Entity:
1.7.1 Proprietorship
1.7.2 Partnership
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New format for OBE-SCL Lesson Plan Okt2022 – Feb2023
▪ Explain the main
objective of financial
reporting.
▪ Identify main user
groups of financial
statements – Internal
and external users
(investors and lenders).
▪ Understand and explain
the qualitative
characteristics of the
accounting information.
Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
▪ Explain the ethics in notes and ▪ Final Exam
Financial Reporting. information
▪ Lecture
▪ Explain the importance ▪ Self-created
of GAAP and MFRS.
accounting
▪ Explain the simulation
Measurement Principles
▪ Explain and understand
the Assumptions,
Concepts and
Conventions and able to
apply in answering the
short cases questions.
▪ Justify the need of
having GAAP and
MFRS.
▪ Understand the types of
business entity.
▪ Differentiate the four
types of business entity.
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1.7.3 Limited liability

partnership
1.7.4 Company
2 3 Accounting 3(2L/1T) 2.1 Accounting cycle: Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
Cycle and 2.1.1 Source documents ▪ Understand the notes and ▪ Final Exam
Accounting Journal accounting cycle from information
Ledger (Three column) source documents to ▪ Lecture
Equation
Trial balance the preparation of ▪ Tutorial –
Adjustments financial statements. past year
Financial statements ▪ Understand and Q&A
2.2 Accounting equation: explain the term
2.2.1 Basic accounting assets, liabilities and
equation. owner’s equity.
2.2.2 Expanded accounting ▪ Understand the basic
equation. accounting equation.
2.2.3 Elements of accounting ▪ Understand the
equation: expanded accounting
-Asset equation.
-Liability ▪ Show the effects of
-Owner’s equity transactions on
-Revenue and expense accounting equation.
▪ Understand credit
terms
▪ Understand the
importance of each of
the financial
statements.
3 4 Double Entry 3(2L/1T) 3.1 Double entry principle: Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
System 3.1.1 Double entry rule for asset. ▪ Understand the debit notes and
3.1.2 Double entry rule for and credit procedure. information
liability. ▪ Identify the correct ▪ Lecture
3.1.3 Double entry rule for classification of ▪ Tutorial –
capital. accounts for Assets, past year
3.1.4 Double entry rule for Liabilities, Q&A
drawing Owner’s Equity,
3.1.5 Double entry rule for Drawings Revenue
revenue. and Expenses.
3.1.6 Double entry rule for ▪ Understand the
expense. summary of Dr/Cr
3.2 The relationship between rules.

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accounting equation and double ▪ Understand how to

entry rule: analyse transactions
3.2.1 Transaction analysis. on the accounting
equation (Format
Transaction Analysis).
▪ Understand how to
draw up the standard
form of three column
general ledger.
4 5 Journal, 3(2L/1T) 4.1 Journal: Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
Ledger and 4.1.1 General journal. ▪ Understand the CLO2 PLO2 notes and ▪ Final
Trial Balance 4.1.2 Specialised journal: importance of each of CLO3 PLO10 information exams
-Sales journal the source documents. ▪ Lecture ▪ Group
-Sales return journal ▪ Understand the ▪ Tutorial – Project -
-Purchase journal purpose of each of the past year Accounting
-Purchase return journal specialised journal. Q&A Simulation
-Cash receipts journal ▪ Prepare the
-Cash payments journal specialised journal
from the source
documents.
4 6 Journal, 3(2L/1T) - Petty cash journal ▪ Understand the CLO2 PLO2 ▪ Sharing of ▪ Final
Ledger and importance of notes and exams
Trial Balance managing petty cash. information
▪ Prepare the ▪ Lecture
reimbursement of ▪ Tutorial –
petty cash/ imprest past year
petty cash system Q&A
4 7 Journal, 3(2L/1T) 4.2 Ledger: Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
Ledger and 4.2.1 Sales ledger. ▪ Posting from the CLO3 PLO10 notes and ▪ Group
Trial Balance 4.2.2 Purchase ledger. specialised journal to information Project -
4.2.3 General ledger. three-column general ▪ Lecture Accounting
4.3 Trial Balance: ledger. ▪ Tutorial – Simulation
4.3.1 Trial balance format. ▪ Understand the past year
4.3.2 Purpose of a trial balance purpose of preparing Q&A
(introduction of SOPL and the Trial Balance.
SOFP format) ▪ Understand the
limitation of Trial
Balance.
▪ Prepare the Trial
Balance.

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▪ Prepare the SOPL

and SOFP (without
adjustment)
5 8 Accounting 3(2L/1T) 5.1 Error versus fraud. Ability to: CLO1 PLO1 ▪ Sharing of ▪ Test
Errors 5.2 Types of accounting errors: ▪ Locate the errors. notes and ▪ Final exams
5.2.1 Errors that affect the trial ▪ Identify the errors. information
balance. ▪ Understand how to ▪ Lecture
5.2.2 Errors not affecting the trial make correction ▪ Discussion
balance. of errors affecting the ▪ Tutorial –
5.3 Correcting the errors. trial balance. past year
5.3.1 Correction of errors ▪ Understand how to Q&A
affecting trial balance. make corrections of
5.3.2 Correction of errors not errors not affecting the
affecting trial balance. trial balance.
▪ Define the suspense
account

5 9 Accounting 3(2L/1T) 5.4 The suspense account ▪ Explain the use of CL02 PLO2 ▪ Sharing of ▪ Final exam
Errors suspense accounts. notes and
▪ Draw up a suspense information
account ▪ Lecture
▪ Calculate the revised ▪ Discussion
profit ▪ Tutorial –
past year
Q&A
6 10 Accounting 3(3L) 6.1 Accruals and prepayments Ability to: CL02 PLO2 ▪ Sharing of ▪ Final exam
Adjustments 6.2 The implications on the financial ▪ Understand the notes and
statement timing issues information
6.3 The recording in the financial which lead to ▪ Lecture
statement Accrual Basis ▪ Discussion
6.4 The causes of depreciation. Accounting. ▪ Tutorial –
6.5 Recording and reporting of ▪ Understand the past year
depreciation expense and non- concept of Q&A
current assets. accruals and
6.6 Methods of depreciation: prepayments.
7.4.1 Straight line method. ▪ Prepare the
7.4.2 Reducing balance method. journal entries to
6.7 Factors to consider in record the
depreciation calculation. adjustments.

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▪ Posting the
adjusting entries
to the three
column general
ledger
▪ Understand the
term and causes
of depreciation.
▪ Students are
required to
calculate the
amount of
depreciation for
the current year
only.
▪ Transfer the
amount of
depreciation from
journal to ledger.
6 11 Completing 3(2L/1T) 6.8 Preparing the adjusted trial Ability to: CL02 PLO2 ▪ Sharing of ▪ Final exam
the balance. ▪ Prepare closing notes and
Accounting 6.9 Preparing the adjusted financial entries. information
Cycle and statements ▪ Posting closing entries ▪ Lecture
Financial to three column ledger. ▪ Discussion
Statements ▪ Prepare a post-closing ▪ Tutorial –
trial balance. past year
Q&A
7 12 Accounting 3(2L/1T) 7.1 Purpose and the explanation of Ability to: CL01 PLO1 ▪ Sharing of ▪ Final exam
Ratio accounting ratio ▪ Explain the importance notes and
7.2 Types of ratio: of accounting ratio. information
7.2.1 Profitability ratio ▪ Lecture
7.2.2 Gross profit ratio ▪ Describe the different ▪ Discussion
types of accounting
7.2.3 Net profit ratio ▪ Tutorial –
7.2.4 Liquidity ratio ratio.
past year
7.2.5 Current ratio ▪ Calculate and interpret Q&A
7.2.6 Acid test ratio the main types of
7.2.7 Efficiency ratio accounting ratio.
7.2.8 Inventory turnover ratio ▪ Discuss the use of
7.3 Usefulness of accounting ratios ratios in analysing the
7.4 Limitations of accounting ratios performance, liquidity,

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efficiency and
leverage of the
business.
▪ State the usefulness
and limitations of
ratios.
8 13 Bank 3(2L/1T) 8.1 Cash and bank transactions. Ability to: CLO1 PLO1 ▪ Sharing of ▪ Final exam
Reconciliation 8.2 Bank statement. ▪ Know who is notes and
8.3 Bank reconciliation and its responsible for making information
purpose. bank deposits. ▪ Lecture
8.4 Transactions recorded by the ▪ Know the element in a ▪ Discussion
business but not by the bank. cheque. ▪ Tutorial –
8.5 Transactions recorded by the ▪ Understand that using past year
bank but not by the business. a cheque is a method Q&A
8.6 Error. of cash control.
8.7 The bank reconciliation ▪ Understand the
techniques: importance and
9.7.1 Steps in preparing a bank purpose of a bank
reconciliation. statement.
▪ Understand the
reasons why the
balance in bank
statements and
business bank
accounts is different.
▪ Reconcile the bank
statement with the
business bank account
(three column ledger)
or CRJ and CPJ.
▪ Prepare the Bank
Reconciliation
Statement.
9 14 Incomplete 3(2L/1T) 9.1 Single entry and double entry Ability to: CLO2 PLO2 ▪ Sharing of Group Project
Records system. ▪ Differentiate between a notes and 2 - PBL
9.2 Disadvantages of a single entry single entry system and information
system: a double entry system. ▪ Lecture
9.2.1 Unsystematic system. ▪ Distinguish between ▪ Discussion
9.2.2 Incomplete system. Comparison and
9.2.3 Lack of accuracy. Analysis Method.

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9.2.4 Does not reflect true profit ▪ Prepare a Statement of ▪ Tutorial –

or loss. Affairs (beginning and past year
9.2.5 Does not reflect true end of the year). Q&A
financial affairs. ▪ Reconstruct of
9.2.6 Frauds and errors. accounting records
9.2.7 Unacceptable for tax (three column ledger).
purpose. ▪ Prepare the Statement of
9.3 Comparison and analysis Profit or Loss.
methods: ▪ Prepare the Statement of
9.3.1 Comparison method. Financial Position.
9.3.2 Analysis method.
9.4 Preparation of the statement of
profit or loss and statement of
financial position.

Continuous Assessment:

Topics Marks
Test Chapter 1: Introduction to Accounting 15%
Chapter 2: Accounting cycle and equation
Chapter 3: Double Entry System
Chapter 4: Journal, Ledger and Trial Balance
Group Assignment Chapter 10: Incomplete Records - Problem Based Learning 10%
Self-Created Accounting Simulation 15%
Total 40%

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