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Accounting

Diploma of Science in Accounting

 

This program aims to equip students with a range of knowledge and skills in the main functional areas of accounting. It focuses on technical knowledge and skills required in a career of accounting specialization. Graduates of this program are to acquire a variety of skills needed by both public and private institutions.

 

On completion of the program, the student should be able to:

 

  •  Demonstrate specialized knowledge of concepts, theories, and principles in accounting areas.
  •  Demonstrate a critical appreciation of the problems and opportunities surrounding a business entity.
  •  Apply international standards in preparing, analysing, and evaluating financial statements of companies in different industries.
  •  Appraise critically modern management accounting techniques with respect to their effectiveness and any weaknesses inherent in their use.
  •  Support management in the budgeting, planning, and decision-making processes.
  •  Display a critical appreciation of the ethical and social implications of management accounting systems within organizations.
  •  Integrate accounting functions within a computerized business environment, select appropriate software and convert a manual accounting system to a computerized one.
  •  Communicate financial information in verbal and written format.
  •  Acquire computer proficiency skills in the use of the World Wide Web (internet), and processing and managing computerized files, software, and databases.

 

Passing the requirements of the UTAS General Foundation Program

 

  •  Private sector: in different sectors including Trade, Industry, and Services.
  •  Public sector: Government, and non-profit organizations.
  •  Self-employment: SMEs

Semester 1

This course in Principles of Accounting (1) is an introduction to the basic accounting concepts and selected accounting practices and to introduce students to the role of, and the processes involved in planning and decision making within the business environment. This course focuses on the accounting cycle, journal entries related to sales, purchases, collection, payments and expenses, posting, trial balance and preparation of basic financial statements – the balance sheet and income statement.

Introduction to Business is an introductory level course designed to provide students with fundamental knowledge of business terminologies, concepts and business issues with the intent of helping students develop a viable business vocabulary, foster critical thinking and analytical thinking, and refine business decision-making skills.

This course examines the business function of Marketing. Students will learn how marketers deliver value in satisfying customer needs and want, determine which target markets the organization can best serve, and decide upon appropriate products, services, and programs to serve these markets. Further, the students develop a solid understanding of key concepts and terminologies of marketing and how it fits within the organization.

 

This course is taught during the first year of diploma-level study. It is designed to provide students with basic knowledge in economics like economic systems, economics as science and art, and positive and normative economics. It covers the aspects of both microeconomics and macroeconomics. Microeconomics includes understanding consumer and producer behavior through demand and supply analysis. The concepts are elaborated with graphs and tables. Fixing price through consumer equilibrium is elaborated with graphs and tables. Shits in Price and quality equilibrium with the effect of determinants of demand and supply is explained through the Shits in Demand and Supply curve. Macroeconomics includes various variables related to National Income, GDP, GNP, NDP, NNP, PI and PDI. It also covers the Functioning of Money and Banking by including the Supply and Demand of money and explains banking and its functions. It also explains the concept of Fiscal and Monetary policy in relation to the national budget process. The explanation includes Government Revenue and Capital receipts. Finally, the course provides students with an understanding of the economy and budget process within the Omani context.

Semester 2

This course cover the Main terms and concepts in tourism and hospitality and History of Travel and Tourism. I will include the principles in
·Tourism Attractions
·Hospitality
·Transport
·Tourism Distribution Systems
·Benefits of Tourism
·Government and Tourism
·Tourism Education and Jobs
·Tourism Future

A supply chain is comprised of all the parties involved in fulfilling a customer’s request. The integrated management of this network is a critical determinant of success in today’s competitive environment. With increasing competition around the globe, supply chain and logistics management is both a challenge and an opportunity for companies. Hence a strong understanding of supply chain management concepts and the ability to recommend improvements should be in the toolbox of all managers. This course includes the major supply chain processes including the importance of supply chain and logistics, Purchasing and Procurement, Demand and Inventory management, Aggregate Planning, Warehousing as well Transportation and Distribution. The essentials of e-logistics and how technology drives the logistics sector are given importance in this course. In addition to that, areas for improvement in logistics and supply chain operations as well as the contemporary issues faced by the modern days’ supply chains at local, regional and global levels included.

This course is offered to students during the second semester of diploma level. The course aims to teach students how to address business using management processes and functions. It teaches the fundamentals of management, including planning, organizing, directing and controlling processes. In addition, it provides students with an understanding of various managerial skills and roles required in the organization. Furthermore, it assists students in carrying and decision making and the steps to take in order to design the organization structure. Besides, the course describes the different aspects of organisational culture and learn about motivational theories. Additionally, it focuses on learning varied leadership styles which can be applied in the real business world. Along with that, it provides an understanding of different communication, types, processes and barriers that may hinder effective communication.

 

Semester 1

This course in Principles of Accounting (2) is an intermediate level course designed to provide students with a broader understanding of the accounting for a merchandising enterprise including the preparation of buyer and seller entries under the perpetual and periodic inventory systems. This course will also cover topics such as accounting information systems, special journals, subsidiary ledger and control accounts, internal control, correction of errors, suspense accounts and reconciliations.

Financial Management (I) is an introductory level course designed to provide students with fundamental knowledge and understanding of financial management function and its environment and the major financial decisions within organizations with specific attention to working capital management, capital budgeting and financing decisions. This course will also cover the basic framework of the financial system including macroeconomic policy, financial markets, banks and financial institutions.

Cost Accounting (I) is an introductory level course designed to provide accounting students with comprehensive knowledge and understanding of the cost concepts, cost behaviours and cost accounting techniques for both manufacturing and service entities. This course will also focus on the accounting and analysis of materials, labor and overhead control accounts including a discussion of the procedures for materials procurement and issuance, attendance and payroll and determining production overhead absorption rates

The Principles of Auditing is an introductory level course designed to provide students with a basic understanding of the nature, purpose and scope of an audit, the regulatory framework that governs accountants and auditors, and the practices, techniques and outcomes of the audit process.

 

Semester 2

Corporate Accounting (I) is an introductory level course in financial accounting designed to provide students with the necessary background to understand the basic characteristics of partnerships and limited liability companies. This course focuses on the equity reporting of partnerships and limited liability companies including the accounting for its formation, distribution of net income/loss, dissolution, and liquidation.

Management Accounting (I) is an intermediate level course designed to provide accounting students with the basic concepts of management accounting, planning and control, and the methods used to report performance information to managers to assist in making the decision in managing the enterprise. This course will also focus on sampling techniques, alternative costing methods, and budgeting.

Intermediate Accounting (I) is an introductory level course in financial accounting designed to provide students with the necessary background to understand the Conceptual Framework for Financial Reporting as well as the accounting principles that underlie financial statements. This course focuses on the generally accepted accounting principles (GAAP) and practices for particular topics such as cash and cash equivalents; accounts and notes receivable; inventories and costs of goods sold; non-current assets and depreciation and amortization expense; and current liabilities and contingencies.

This course will be provided during the second semester of the Diploma level as a college requirement in order to teach students how to address business challenges using statistical methods. This course teaches the fundamentals of statistics, including measurement scales and data types. In addition, students will learn to develop and understand tables and graphs to organize and present various data sets. In addition, this course covers the application of descriptive statistical methods, as well as the computation and interpretation of Simple Linear Regression and Correlation Analysis results. Furthermore, this course assists students in analyzing and applying the estimate of confidence intervals and the parts of hypothesis testing. Apply the nonparametric Chi-Square test to determine independence and goodness-of-fit, apply time series ideas to real-world data and evaluate the findings of the analysis to demonstrate your understanding. Besides, students will perform descriptive and inferential data analysis using Excel and SPSS.

The student should select one course from the followings:
1.Communication skills UNCS2215
2.Preparing for Work UNPR2217
3.Working Ethics UNWE2216
4.Islamic Studies UNIS2206
5.Oman Civilization UNOC2207
6.Critical Thinking UNCT2210
7.Chines Language UNCL2211
8.French Language UNFL2213
9.German Language UNGL2215

 

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Sultanate of Oman

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