WORK PLACEMENT – ACCOUNTING (ACCT 421)

OVERVIEW

1. COURSE DESCRIPTION

This course covers a number of tasks that are divided into two parts. The first part is the professional orientation which focuses on understanding the work environment of prospective employers and the job markets in general. After this, the students will be placed at the selected employers where they will apply their acquired knowledge, skills, and attitude in a real work environment. It is essential for the students to comply with the hosting organization’s requirements, to meet the Performance Objectives (POs), and to keep track of their training progression throughout the work placement period.

2. REASON FOR THE COURSE

Students must develop practical knowledge, skills, and attitudes in order to strengthen their positions in the market.  They need an opportunity to apply the knowledge acquired in previous coursework in a real business setting. Therefore, program graduates will develop work-readiness skills and be familiar with the key factors for success in an accounting career.

3. STUDY HOURS

4. ROLE IN CURRICULUM

Prerequisites: 

  1. Students must have completed the 9-hour preparation activities provided by Career Services and Student Advising (CSSA) or employer-conducted orientation approved by CSSA.
  2. Students must have completed Financial Accounting 1 (ACCT 211), Financial Accounting 2 (ACCT 212), and IFRS for SMEs (ACCT 311). 

SKILLS

  • COURSE LEARNING OUTCOMES (CLO)
  • ASSESSMENT AND GRADING
  • TEACHING METHODS
  • STUDY PLAN
  • TEXTBOOKS AND REFERENCES

5. COURSE LEARNING OUTCOMES (CLO)

On successful completion of this course, students will be able to:

Knowledge Level of
Learning		 Related PLO
dentify Ethics (CK1)
Identify the ethical requirements of the work		 Understand PIP2
Describe Accounting Principles (CK2)
Describe the accounting principles and concepts in accordance with the accounting standards.
 Understand PC5
Cognitive Skills Level of
Learning		 Related PLO
Prepare Accounting Reports (CC1)
Prepare accounting reports requested by management.		 Create PC5
Record Business Transactions (CC2)
Record business transactions and events using appropriate software		 Apply PC5
Communication, Information Technology, and Numerical Skills Level of
Learning		 Related PLO
Discuss with Management and Colleagues (CCIT1)
Discuss with the management and colleagues how to improve business performance.		 Apply PCIT3
Interpersonal Skills and Responsibilities Level of
Learning		 Related PLO
Work Effectively (CIP1)
Work effectively with the team to achieve departmental and organizational objectives.		 Characterize PIP1

6. ASSESSMENT AND GRADING

Grades will be determined based on the following assessments and score allocations:

SKILL Assessment Skill Weighting for Grade
Mentor Supervisor Peer PE Report
Identify Ethics (CK1) 50% 50%     10%
Describe Accounting Principles (CK2)       100% 10%
Prepare Accounting Reports (CC1)   50%   50% 25%
Record Business Transactions (CC2)   50%   50% 25%
Discuss with Management and Colleagues (CCIT1)   50% 50%   10%
Work Effectively (CIP1) 25% 30% 45%   20%

7. TEACHING METHODS

Performance Objectives

Students are required to achieve a minimum of four performance objectives in total including all three interpersonal qualities and the core skills of performance objectives in acounting. 

Students may achieve each performance objective by participating in the suggested activities or other similar activities related to the performance objectives by providing an explanation in the practical experience report.

The performance objectives are set out in interpersonal qualities and core skills as in Appendix 1.

To provide evidence of achieving performance objectives, students are required to request a confirmation letter from their supervisor with the attachment of the performance objectives that they have achieved during the job training.

Report: Personal Experience Report
Work Group: Individual
Output format: Performance Objective Matrix
Language: English

Description:

Students will be required to produce a summarized report reflecting the experience obtained from the job training that satisfies the required performance objectives. As their training progresses, students should keep track of their experiences. At the end of the training, students will be required to write a report summarizing the experience in their own words in a performance objective matrix. The report should be clear and truthfully reflect the experience with examples provided.

8. STUDY PLAN

   Lesson Learning Outcomes

Teaching (T), and
Assessment (A) Methods
1

Course Orientation

  1. Introduce the course aims, descriptions, and criteria.
  2. Explain the performance objectives to be achieved during the job training.
  3. Explain the practical experience report
  4. Guide the students in searching for relevant information about jobs and prospective organizations. 
Lecture
Question and Answer
2-18 On-Job training (All CLOs) Apply knowledge

9. TEXTBOOKS AND REFERENCES

ACCA Rule Book https://www.accaglobal.com/gb/en/about-us/regulation/ethics/acca-rulebook.html

ACCA Performance Objectives

https://www.accaglobal.com/vn/en/student/practical-experience-per/performance-objectives.html 

Appendix 1 – Performance Objectives

Interpersonal Qualities 

These are the important elements of interpersonal qualities that students must achieve. They are required to maintain a professional code of ethics, develop productive business relationships with stakeholders, and take initiative as a leader during work.

Performance Objectives Elements
Maintain a professional code of ethics
  • Act diligently and honestly, following codes of conduct, taking into account and keeping up-to-date with legislation.
  • Act with integrity, objectivity, professional competence, and due care and confidentiality. You should raise concerns about non-compliance.
  • Develop a commitment to your personal and professional knowledge and development. You should become a life-long learner and continuous improver, seeking feedback and reflecting on your contribution and skills.
Develop productive business relationships 
  • Display sensitivity, empathy, and cultural awareness in all your communications. This allows you to establish trust and credibility with a range of stakeholders and gain their confidence.
  • Use a range of mediums and make appropriate use of digital technology to communicate clearly, concisely, and persuasively in formal and informal situations.
  • Develop and build effective and ethical professional relationships and networks using face-to-face and digital technology
Apply leadership and self-development
  • Show initiative with your team – working towards organizational goals, collaborating with and supporting others.
  • Manage time and tasks effectively to meet business needs and professional commitments. You are capable of working under pressure.
  • Negotiate effectively and justify solutions logically and persuasively to colleagues and clients.

Core Skill

Accounting

This involves students in the process of recording and processing transactions and events using appropriate accounting systems, and reviewing and preparing financial statements in accordance with accounting standards and legislation. In addition, students are also able to take part in management accounting such as planning the business activities, controlling the performance, preparing and monitoring the budget, and making recommendations for improvement.  

Performance Objectives Elements
Record and process transactions and events
  • Implement or operate systems to record and process accounting data using emerging technology where appropriate or feasible.
  • Verify, input, and process routine financial accounting data within the accounting system using emerging technology where appropriate or feasible.
  • Prepare and review reconciliations and other accounting controls.
  • Gather information for end-of-period accounting entries – and prepare estimates for adjustments to inter-company accounts.
  • Make sure you’re using accounting standards and policies when you’re processing transactions and events.
Prepare external financial report
  • Contribute to drafting or reviewing primary financial statements according to accounting standards and legislation.
  • Review financial statements, correct for errors, and account for – or disclose – events after the reporting date.
  • Prepare or review narrative and quantitative information to include with financial statements.
Plan and control performance
  • Contribute to setting objectives to plan and control business activities.
  • Coordinate, prepare, and use budgets, selecting suitable models.
  • Regularly review progress against plans.
  • Use appropriate techniques to assess and evaluate overall performance against plans.
  • Advise on business performance and recommend improvements.
Monitor and report performance
  • Analyse and provide appropriate information to measure performance.
  • Identify and use performance measurement techniques.
  • Monitor and evaluate individual and departmental performance to identify areas for development.
  • Identify the key external factors, including financial factors, affecting organizational performance.
  • Prepare management reports as required by management. It can include performance measurement and analysis.

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