Certificate in Accounting Level 4
Semester 1: AC010, AC011, AC012, AC013, AC014
| Code | Course Name and Description |
| AC010 | Business Entrepreneur Develops the understanding of Entrepreneurship/Managing your Business to acquire competence in the exercise of the occupation and to carry out the functions, tasks and activities of the occupation at the level required for entry into the job market. Integrates an understanding of the specific context of the selected occupation; and provide for job mobility by helping acquire career-management skills. |
| AC011 | Business Communication Skills Develops writing, reading, listening, speaking, researching, and critical thinking. The topics are designed to provide skills to assist those in the workplace with their assigned tasks and also for those who continue with further studies, they should be able to cope with writing good essays, plan and carry out good researches on projects and assignments, and be able to write good reports and make good presentations. |
| AC013 | Accounting Principles 1 A compulsory course for all students focuses on both trading and service businesses and it covers the accounting cycle from source documents to final reports; and analysis and interpretation. It also provide the student with the knowledge of accounting concepts and conventions. It will also cover the basic structure of accounting Systems of Cash, Payroll and EDP systems. |
| AC014 | Business Environment Introduces the world of work and developing their knowledge and skills to cope and maintain a healthy environment at work. The course covers knowledge of workplace documents such as the Duty Statements and their purpose, the reciprocal nature, rights and responsibilities of employers and employees, and the importance of their cooperation in the workplace. It also covers the function, organisational structure, goals and objectives of both public and private organisations. It covers principles and implementation of equal opportunity and anti-discrimination as they apply to the workplace, and the ongoing changes that can occur in the workplace. |
| AC012 | Thinking and Learning Skills Introduces creativity and imagining, problem solving, knowledge, critical thinking, accessing and analyzing information, Agility and Adaptability, Handling critics, innovation and exploration and learner autonomy. Through critical analysis of research on higher education as well as reflection upon one’s own teaching experience, participants will engage in their own professional development. This course is also designed for individuals with all level of teaching experience who wish to further develop their teaching skills and continue on their studies locally and abroad. While each seminar has its own focus relating to a pertinent topic in higher education, these topics combined form the basis of effective teaching skills recognized as being critical for teaching in lower and higher education. |
Semester 2: AC022, AC023, AC025, AC026
| Code | Course Name and Description |
| AC022 | Computerized Accounting Introduces and uses an integrated computerized software called Elite Two (Version 04) to establish and update the general ledger. It will also introduce and use MYOB (Version 12) an integrated software package to establish and update the account receivable, account payable, and stock ledgers. The MYOB fixed asset register package will also handle all aspects of accounting for fixed assets on computer. The MYOB Payroll Management software will also be used to show the features of a computerized payroll package producing accounting data and reports. |
| AC023 | Accounting Principles 2 Focuses on both trading and service businesses and it covers the accounting knowledge and skills for subsystem other than cash, their basic structure, processes and the internal controls that are applied to them as well as the role of the internal and external auditor. It looks at various subsystems such as sales, accounts receivable, purchase, accounts payable, non-current assets, and stock. Then it will cover internal and external audit issues including ethics, operational reviews and non-profit organisations. In the section of inventories, physical and perpetual systems are covered along with retail inventory and disclosure requirements according to the accounting standards. |
| AC025 | Financial Accounting Applications Designs to cover analysis and interpretation of financial data for management decision-making purposes. It looks at alternative accounting systems adopted by non-profit organisations and businesses that do not maintain double entry records. It also covers accounting for partnerships which includes manner of formation, introduction of a new partner, partnership profit & loss and appropriation, operation and partnership dissolution in contrasted with joint ventures. It looks also into accounting for primary producers (grazing enterprises & agricultural enterprises), consignments, leases and investment registers. Accounting for consignments (books of the consignee and the consignor) at an introductory level. Accounting for leases covers the treatment of both operation and financing leases from the point of view of the lessee, and also disclosure requirements of leases of a company. Investment registers examines the preparation of an investment register where a company has invested in another business. |
| AC026 | Business Mathematics Provides students with the skills (or refreshing of existing skills) in calculation and solving of common commercial problems involving percentages, profit & loss, and taxation, calculating of simple and compound interest, present and future value annuities using both formulas and financial tables. It will also look into plotting and drawing of graphs for costs and income which will be useful for business decision making. |
Diploma in Accounting Level 5
Semester 1: AC112, AC113, AC117, AC118, AC119
| Code | Course Name and Description |
| AC112 | Working and Social Skills Develops students’ working and social skills in the market. It will help enhance the working and social skills of students so that they could practice them in the various work places that they take up whether locally or internationally. |
| AC113 | Financial Management Principles Provides students with the knowledge and skills of financial and operating budgets and their design. It looks at the budget schedules for a range of organisations and how to prepare flexible budget for service, trading and manufacturing operation and how to prepare performance report. It will also cover financial management, sources of finance, how working capital can improve operations, the financial ratio analysis and its importance or making relevant decision such as allocation of funds to longer-term, or capital, investments through capital budgeting. It will go on to financial planning and controlling where the financial manager must advise on the financial activities that enables the business to achieve its goals and must be able to monitor the results of these financial activities and take appropriate action. |
| AC117 | Business Law Develops understanding of the basic Legal Systems and legal framework which are most commonly encountered by people working in a business environment in Tonga and Pacific regions. It includes nature of law, Institutions formulating and enforcing the law, applications of civil law, legal requirements and implications of starting a business and managing of financial transactions, Concept of Principal and Agency law, Contract Law, and consumer law. The purpose, administration, procedures and consequences of bankruptcy law is discussed. The trustee’s power to avoid antecedent transactions is analysed. Bankruptcy is contrasted with alternative procedures and a list of advantages and disadvantages of bankruptcy from the perspective of creditors and debtors is discussed. |
| AC118 | Management Accounting Principles Covers costing procedures in a range of enterprises, including costs of materials, labour and overhead as well as manufacturing statements, responsibility accounting, direct costing and cost-volume profit analysis. |
| AC119 | Economics for Business Develops understanding of how economics affects business on both short and long term basis. It also shows the supply and demand theory for goods and services which is relevant to business because of an understanding of how supply and demand interact and what their determinants are, this information can be used in pricing decision. Elasticity of demand and supply further develops this. This will also focus on macroeconomics concepts such as unemployment, inflation, economic growth and the money supply and how these concepts affect business |
Semester 2: AC122, AC125, AC127, AC128
| Code | Course Name and Description |
| AC122 | Advance Accounting Spreadsheet Introduces students to Microsoft Excel and learning to design, construct, and manipulate a spreadsheet to enter data and use formulas to perform calculations on spreadsheet automatically. The students will also learn about the feature of a well-designed spreadsheet and some advanced spreadsheet techniques, and how to import and export data. It also shows how to print various types of graphs and prepare professional looking report. |
| AC125 | Company Accounting Covers various types of company, the legal requirements for formation of company and the conversion of sole trader and partnership to company. It will also concentrate on how to prepare Accounting reports of a company – final accounts, cash flow, and consolidated accounts. |
| AC127 | Taxation Law Designs and implements a tax system which would estimate, collect and safeguard the public money and penalize those who evade payment of taxes. It will concentrates on different taxes applied and the law in relation to those types of taxes.. It includes Pay As You Earn (PAYE) system and the employment declaration showing what happen if an employee does not quote their tax file number on employment declaration form and the employee responsibilities upon receipt of such a form. |
| AC128 | Management Accounting Application Focuses on exploring different costing systems used by industries for various applications. It demonstrates the application of job cost systems for these industries that manufacture products and provide services and also the application of activity based costing for industries that manufacture products or provide services. It also evaluate form factory management techniques namely economic order quantity, recorder point and safety stock; just in time purchasing and production; materials requirement planning and quality control. |