The Diploma in Accounting requires the completion of 10 units successfully.  After successful completion, students can articulate into the Advanced Diploma in Accounting program.  Students automatically receive a student membership for the Association of Accounting Technicians (AAT), Australia.

Semester One:
Code     Unit Name
2041     Business Writing
2042     Office Application
2011     Business Law
1001     Accounting I
2012     Cost and Budgeting I

Semester Two:
Code     Unit Name
2013     Auditing
2014     Taxation
2048     Cost and Budgeting 2
2010     Accounting 2
2049     Financial Reporting



Business Writing

Business Writing

Description:
This unit will mainly stress the written part of communication. Someone can be very good at speaking a good language or passing a message effectively through spoken words but if he cannot put his great ideas and information into logical order in written form then there will be a great chance of poor understanding that may exist among students or employees.

Learning Outcomes
After completing this subject, the students are expected to:
1. Understand the characteristics that work together to make writing effective
2. Apply appropriate techniques for building these characteristics into your own writing
3. To understand how to conduct a survey
4. Identify the structure of the essay
5. Understand the features and criteria’s of a good essay
6. Identify some top tips for writing a good essay
7. identify reader and purpose
8. Determine the sources of information
9. To identify the unique functions of the memorandum and how it should be used to communicate in an organisation
10. Source and reference online information gathered from the world wide web



Office Application

Office Application

Description:
This course is written in an easy – to – read and jargon – freestyle. We have used a lot of images, tables, bulleted list, etc. to make the reading and comprehension easier, and also to illustrate, familiarize, and demonstrate the capabilities, benefits, and limitations of Office Applications. We have used cartoon characters to make the figures interesting and easy to remember. But when you are appearing for the examinations, you should replace the cartoon characters with suitable geometrical shapes. Application Series offers a step – by step approach to learning Office Applications and is available in both brief and introductory versions. The introductory book MSO is version 2010 (format) certifies and prepare students for the Microsoft Office Applications Specialist.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Understanding on Microsoft office 2010
2. Apply tools to learning Microsoft Word to create documents
3. Create, save and print a word-processed document
4. Create formulas to add, subtract, multiply, divide
5. Sort data according to specific criteria
6. Use the Concatenate function to join data in two cells
7. Explore the PowerPoint 2010 interface and familiarize yourself with the interface
8. Prepare to deliver a presentation
9. Modify graphical objects on slides
10. Add graphical objects to a presentation



Business Law

Business Law

Description:
The Introduction To Business Law is a course designed for students who want to pursue their Diploma Studies in business majoring in Accounting, Management & Marketing. It contains principle legal aspects in business.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Discuss the Legal System in PNG
2. Distinguish between Private & Public Law in PNG
3. Discuss the importance of Business Names in business organizations
4. Discuss the Partnership Act and its importance in business
5. Define Investment Promotion Authority & its importance in the private sector
6. Discuss the Registration of Companies with IPA
7. Discuss Company Records and their importance in business
8. Discuss the Liquidation using its ultimate Companies Act 1997 legal facts
9. Explain the legal components of the law of contract in business



Accounting I

Accounting I

Description:
Accounting 1 is one of the fundamental courses taken in the Diploma in Accounting, Management and Marketing programs offered here at ITI. In this course, the students will study how to apply the knowledge that they gained in Basic Accounting and it will help them to study furthermore in the accounting field. The general purpose of this course is to give students practical knowledge in accounting that they must need to know in accounting.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Define accounting entry system
2. Explain the double-entry effects of business transactions upon the Accounting Equation
3. Describe the process of recording transactions from source documents to journals
4. Identify the components of a ledger account
5. Define simple column, two-column, and three-column Cash Books
6. Explain how the balance from ledger account is posted to the trial balance
7. Explain the function of trading and profit and loss account and balance sheet


Cost and Budgeting I

Cost and Budgeting I

Description:
This the subject provides students are one of the best investments a student can make. This is because success in any business organization – from the smallest tucker shop store to multinational business corporation requires the use of cost accounting concepts and practices. Cost Accounting provides key data to managers for planning and controlling, as well as costing products, services, and customers. The central focus of this study guide is to look at how cost accounting helps managers make better decisions.

The cost accountants are increasingly becoming integral members of the decision-making teams instead of just becoming data providers of the organization. Based on this, we recognized cost accounting as a managerial tool for business strategy and implementation.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Understand the important aspects, concepts, and principles in the subject area
2. Explain and describe the three types of cost components
3. Analyzing semi-variable factory overhead cost using High – Low method
4. Preparing the Statement of Cost of Goods Manufactured, Income Statement and Balance Sheet
5. Identifying issues and problems related to the contents of the subject area
6. Researching for alternatives to resolve the issues and problems
7. Design and develop appropriate plans to resolve the problems identified



Auditing

Auditing

Description:
This the subject provides students to one of the foundation courses taken in the Diploma in Accounting programs offered here at ITI. The course covers the fundamental aspects of auditing that student need to know as a prerequisite to studying other major courses in the field of accounting. The general purpose of this course is to give students the basic knowledge of auditing which serves as the foundation of understanding other broader disciplines in accounting.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Define auditing
2. Identify the classification of auditing
3. Explain the duties and responsibility for internal auditors
4. Understanding of audit fundamentals
5. Explain the steps follows for pre-audit research
6. Understanding the audit planning and documentation
7. Prepare audit report for the company



Taxation

Taxation

Description:
This the subject provides students to discover how the PNG Taxation system works and how tax is levied on various incomes with respect to different tax payers. You will also learn that tax is basically the application of Income tax Act (1959) and other relevant tax legislation.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Identify what income is subject to personal income tax
2. Calculate individual income using personal income tax rates
3. Explain the tax treatment of employment-related benefits & expenses
4. Explain the tax treatment of dividend income received by companies
5. Apply the rules for ascertaining taxable gain or loss on the disposal of depreciating assets which are: used wholly for business, used partly for business, owned by a business closing down
6. Apply company tax rates for non-resident companies
7. Understand how resource projects are taxed on a project basis



Cost and Budgeting 2

Cost and Budgeting 2

Description:
This the subject provides a student with key data to managers for planning and controlling, as well as costing products, services, and customers. The central focus of this study guide is to look at how cost accounting helps managers make better decisions since cost accounting is a managerial tool for business strategy and implementation.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Understand the important aspects, concepts, and principles in the subject area
2. Appreciate why the use of Marginal Costing results in Profit Measures which directly reflects the movement in sales
3. Analyzing and Calculating the Overhead Cost Allocation
4. Defining Standard Costing System and Historical Costing System
5. Identifying the methods used to apportion Joint Costs to Joint Products and account for By-products
6. Calculating Material Price, Usage Variance, Labour rate & Efficiency Variance, and Volume Variance
7. Understanding the Roles, Controls, and Advantages of Budgeting



Accounting 2

Accounting 2

Description:
This the subject provides students with to taken in the Diploma in Accounting the program offered here at ITI. This subject covers the comprehensive aspects of accounting especially how to prepare the financial statements for different types of businesses.

Learning Outcomes:
After completing this subject, the students are expected to:

  • Understand the important aspects, concepts, and principles in the subject area
  • Explaining the reasons and differences between the cash book balance and Bank Statement
  • Comparisons of Sole trader, partnership, and Company Accounts.
  • Identifying the reasons for incomplete records under a single entry system.
  • Researching for alternatives to resolve the issues and problems
  • Analyzing the Financial Performance and Financial Position of companies
  • Design and develop appropriate plans to resolve the problems identified


Financial Reporting

Financial Reporting

Description:
This the subject provides students to study the regulation of external financial reporting. Students will discover that financial reporting in PNG is subject to many rules. Many argue that is over-regulated – students will be directed to address this argument. The provisions of the Company Act 1997, the listing requirements of the Port Moresby Stock Exchange and the accounting standards issued by the accounting bodies, both in PNG and International, all have a significant influence on PNG reporting requirements. This course contents an introduction to the general purpose of financial statements, a description of the institutional framework, within which accounting standards are set, a discussion of the international harmonization process and a brief description of accounting framework.

Learning Outcomes:
After completing this subject, the students are expected to:
1. Explain Papua New Guinea and International Institutional framework for accounting standard-setting and financial reporting
2. Critically evaluate regulatory requirements governing financial reporting
3. Prepare general purpose financial reports for a company from a trial balance and other information
4. Interpret various accounting standards, including those relating to assets, liabilities, equity, tax, foreign exchange translation business combination and consolidations and apply them in various scenarios