ACCT20071 - Foundations in Accounting
Term 1 - 2017


All details in this unit profile for ACCT20071 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student). The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.

Overview

This unit introduces students to financial accounting within the context of the accounting conceptual framework and relevant accounting standards. Students will be provided with a sound knowledge of accounting and the business environment, the accounting cycle (for both service and retailing entities), effective accounting information systems, accounting for current and non-current assets and liabilities, and accounting for partnerships. If you have successfully completed the unit ACCT20052 you should not enrol in this unit .

Details

Career Level Postgraduate
Credit Points 6
Student Contribution Band [not found]
Fraction of Full-Time Student Load 0.125

Pre-requisites or Co-requisites

Students must successfully complete ACCT20070 Accounting in Australia prior to enrolling in this unit.

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Offerings

Term 1 - 2017
  • Brisbane
  • Distance
  • Melbourne
  • Sydney

Website

This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Go to Moodle

Recommended Student Time Commitment

Each 6-credit Postgraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Assessment Overview

Assessment Task Weighting
1. Practical and Written Assessment 20%
2. Presentation and Written Assessment 20%
3. Examination 60%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

All University policies are available on the IMPortal.

You may wish to view these policies:

  • Grades and Results Procedure
  • Assessment Policy and Procedure (Higher Education Coursework)
  • Review of Grade Procedure
  • Academic Misconduct Procedure
  • Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
  • Monitoring Academic Progress (MAP) Policy and Procedure – International Students
  • Refund and Excess Payments (Credit Balances) Policy and Procedure
  • Student Feedback – Compliments and Complaints Policy and Procedure
  • Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the IMPortal.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback Source Recommendation
Need for more support on the assessments Students comments Conduct campus based zoom sessions near assessment due dates
On successful completion of this unit, you will be able to:
  1. Demonstrate a professional level of knowledge about the objectives and principles underlying financial reporting by being able to critically engage in written discussion in these areas.
  2. Review, analyse and consolidate financial information into classified financial statements, as specified by the Australian accounting standards.
  3. Correctly interpret the financial information contained within classified financial statements through the use appropriate financial ratios, and provide professional written reports on the results of those analyses.
  4. Demonstrate application and understanding of the theoretical, framework in accounting, and accountng theories.
  5. Provide professional written reports on the significance of the recognition and measurement of current and non-current assets and liabilities for financial reports.

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Practical and Written Assessment  
2 - Presentation and Written Assessment
3 - Examination    

Alignment of Graduate Attributes to Learning Outcomes

  • Professional Level
  • Advanced Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1. Knowledge
2. Communication
3. Cognitive, technical and creative skills
4. Research          
5. Self-management          
6. Ethical and Professional Responsibility          
7. Leadership          

Alignment of Assessment Tasks to Graduate Attributes

  • Professional Level
  • Advanced Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Practical and Written Assessment          
2 - Presentation and Written Assessment        
3 - Examination          

Prescribed Textbooks

Australian Financial Accounting
Author/s: Deegan, C.M. Year: 2016
Edition: 8th edn Publisher: McGraw-Hill
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:

An e-text book is available from McGraw-Hill's Website. More details on Moodle site. However, paper copies are still available through the CQUni Bookshop website: http://bookshop.cqu.edu.au

IT Resources

You will need access to the following IT resources:
  • Internet
  • CQUniversity Student Email
  • Unit Website (Moodle)
All submissions for this unit must use the American Psychological Association (APA) referencing style (details can be obtained here). For further information, see the Assessment Tasks below.
Unit CoordinatorMonika Kansal (m.kansal@cqu.edu.au)
Note: Check the Term-Specific section for any additional contact information provided by the teaching team
Week Begin Date Module/Topic Chapter Events and Submissions
Week 1 06-03-2017

An overview of external reporting environment

1

Week 2 13-03-2017

Conceptual framework of accounting

2

Week 3 20-03-2017

An overview of accounting for assets

4

Week 4 27-03-2017

Non-current assets and Depreciation

5

Week 5 03-04-2017

An overview of accounting for liabilities

10

Practical and Written Assessment Due Friday (07 Apr 17) 05:00 PM AEST
Vacation Week 10-04-2017
Week 6 17-04-2017

Share capital and reserves

13

Week 7 24-04-2017

The statement of comprehensive income and statement of changes in equity

16

Week 8 01-05-2017

The statement of cash flows

19

Presentation and Written Assessment Due Friday (05 May 17) 05:00 PM AEST
Week 9 08-05-2017

Financial instruments – an introduction

14

Week 10 15-05-2017

Theories of financial accounting and their application to practice

3

Week 11 22-05-2017

Corporate social responsibility and Integrated reporting

35

Week 12 29-05-2017

Unit review

Review/Exam Week 05-06-2017
Exam Week 12-06-2017

1 Practical and Written Assessment

Assessment Title Practical and Written Assessment
Task Description

This assignment requires students to demonstrate an understanding of the conceptual framework of accounting. The students are required to make a written submission on some theoretical concepts and their practical application in interpreting the annual reports of the companies. Further details are available on Moodle. This is a group assignment.

Assessment Due Date Week 5 Friday (07-Apr-2017) 05:00 PM AEST
Return Date to Students Week 8 Friday (05-May-2017)
Assignments will be returned three weeks (Due to Year End Vacation) after the marker receives the assignment.
Weighting 20%
Assessment Criteria

Marking criteria sheets provided with the assignment will indicate how marks are allocated.

Referencing Style American Psychological Association (APA)
Submission Online
Group submission

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Demonstrate a professional level of knowledge about the objectives and principles underlying financial reporting by being able to critically engage in written discussion in these areas.

3. Correctly interpret the financial information contained within classified financial statements through the use appropriate financial ratios, and provide professional written reports on the results of those analyses.

4. Demonstrate application and understanding of the theoretical, framework in accounting, and accountng theories.

5. Provide professional written reports on the significance of the recognition and measurement of current and non-current assets and liabilities for financial reports.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

2. Communication



2 Presentation and Written Assessment

Assessment Title Presentation and Written Assessment
Task Description

This assignment consists of a written submission and a Video presentation. The students need to do some extended personal research and self-directed learning in order to complete this assignment.

In the written submission, the students are required to write a research report based on annual reports of the companies listed on the Australian Securities Exchange (ASX). The students must also submit a video presentation based on this written submission. Any video format which markers are able to view for marking is acceptable. Further details on video submission are available on Moodle. This is a group assignment.

Assessment Due Date Week 8 Friday (05-May-2017) 05:00 PM AEST
Return Date to Students Week 10 Friday (19-May-2017)
Assignments will be returned two weeks after the marker receives the assignment.
Weighting 20%
Assessment Criteria

Marking criteria sheets provided with the assignment questions will indicate how marks are allocated.

Referencing Style American Psychological Association (APA)
Submission Online
Group submission

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Demonstrate a professional level of knowledge about the objectives and principles underlying financial reporting by being able to critically engage in written discussion in these areas.

2. Review, analyse and consolidate financial information into classified financial statements, as specified by the Australian accounting standards.

3. Correctly interpret the financial information contained within classified financial statements through the use appropriate financial ratios, and provide professional written reports on the results of those analyses.

4. Demonstrate application and understanding of the theoretical, framework in accounting, and accountng theories.

5. Provide professional written reports on the significance of the recognition and measurement of current and non-current assets and liabilities for financial reports.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

2. Communication

3. Cognitive, technical and creative skills



Examination

Outline Complete an examination
Date During the University examination period
Weighting 60%
Length 180 minutes
Details Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Calculator - non-programmable, no text retrieval, silent only.
Closed Book
Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Demonstrate a professional level of knowledge about the objectives and principles underlying financial reporting by being able to critically engage in written discussion in these areas.

2. Review, analyse and consolidate financial information into classified financial statements, as specified by the Australian accounting standards.

3. Correctly interpret the financial information contained within classified financial statements through the use appropriate financial ratios, and provide professional written reports on the results of those analyses.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Knowledge

3. Cognitive, technical and creative skills


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