ACCT20070 - Accounting in Australia
Term 1 - 2017


All details in this unit profile for ACCT20070 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 you to the theory and practice of accounting in Australia. You will gain a foundation knowledge of the conceptual framework, the Australian regulatory environment for accounting, and the ethical requirements of those who practice accounting. You will also learn the foundation principles and concepts of accounting, especially the accounting equation and accrual accounting.

Details

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

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 30%
2. Online Test 10%
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
The use of practical questions in class could assist students to better understand the material. Student feedback We will introduce scenario based practical questions in class.
On successful completion of this unit, you will be able to:
  1. Define accounting, and identify its various uses
  2. Critically evaluate and report on the uses and users of accounting information in Australia
  3. Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia
  4. Critically evaluate and report on the ethical requirements for accountants in Australia
  5. Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.

Alignment of Assessment Tasks to Learning Outcomes

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

Prescribed Textbooks

Financial Accounting
Author/s: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel Year: 2014
Edition: 9th Publisher: John Wiley and Sons
State: QLD
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:
Students can choose any one of the following options:
Wiley E-Text : Financial Accounting, 9th Edition. ISBN : 978-1-118-79669-6. 864 pages, October 2013, ©2014. AUD $55.00 (Subject to Change)
Paperback: Financial Accounting 9E Binder Ready Version with WileyPLUS Card Set. ISBN :978-1-118-85516-4, February 2014, ©2014. Available from the CQU Bookshop

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft Word
  • Microsoft Excel
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

What is accounting?

1

Week 2 13-03-2017

Recording transactions

2

Week 3 20-03-2017

When to record transactions

3

Group work

Practical and written assessment

Week 4 27-03-2017

Recording goods bought for sale, freight costs, returns and allowances, and discounts

Accounting for retailing

5

6 (From John Hoggett's Text Book)

Group work

Practical and written assessment

Week 5 03-04-2017

Preparing financial statements in a retail company

5

Group work

Practical and written assessment

Vacation Week 10-04-2017
Week 6 17-04-2017

Current asset - Taking care of assets and Cash

7

Group work

Practical and written assessment

Week 7 24-04-2017

Current asset – The Receivables

8

Group work

Practical and written assessment

Week 8 01-05-2017

Non current assets

9

Group work

Practical and written assessment

Week 9 08-05-2017

Liabilities
- Owing to others

10

Group work

Practical and written assessment

Online Test Due Friday (12 May 17) 05:00 PM AEST
Week 10 15-05-2017

Shareholders’ equity
– owing to owners

11

Group work

Practical and written assessment

Week 11 22-05-2017

Conducting a financial health check

14

Group work

Practical and written assessment

Week 12 29-05-2017

Unit revision

Unit revision

Group work

Practical and written assessment

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

1 Practical and Written Assessment

Assessment Title Written Assessment and Group Presentation
Task Description

This assignment requires students to demonstrate an understanding of the basic principles of accounting. The students are required to solve accounting questions. They submit answers in written form and give presentation during the class. Flex students submit written work and give their presentations online. Further details are available on Moodle. This is a group assignment.

Assessment Due Date Details on the Moodle site
Return Date to Students The assignments will be graded and feedback will be provided one week after submission.
Weighting 30%
Assessment Criteria

Marks are awarded for the accuracy, completeness and satisfactory explanation of assigned workshop questions.

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

On-campus students - In workshops; Flex students - upload on Moodle

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

1. Define accounting, and identify its various uses

2. Critically evaluate and report on the uses and users of accounting information in Australia

3. Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia

4. Critically evaluate and report on the ethical requirements for accountants in Australia

5. Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.

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

1. Knowledge

2. Communication

3. Cognitive, technical and creative skills

6. Ethical and Professional Responsibility



2 Online Test

Assessment Title Online Test
Task Description

On-line test: Week 9

This is an individual assessment task. Online test will open at 9:00 AEST on Monday of the scheduled week and close on 17:00 AEST on Friday of that week.This is assessed on the basis of content taught from week 1 to week 8.The test consists of 25 multiple choice questions which may be theoretical, conceptual, and/or practical. The online test must be completed during the times that they are open. In the absence of an approved extension, there will be no opportunity to complete the online test after it closes. Further details will be available on Moodle.

Assessment Due Date Week 9 Friday (12-May-2017) 05:00 PM AEST
Return Date to Students Results will be made available in Moodle within one week after the due date of online test.
Weighting 10%
Assessment Criteria

The online test shall be assessed on the basis of accuracy and completeness of the answers.

Referencing Style American Psychological Association (APA)
Submission Online

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

1. Define accounting, and identify its various uses

2. Critically evaluate and report on the uses and users of accounting information in Australia

3. Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia

4. Critically evaluate and report on the ethical requirements for accountants in Australia

5. Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.

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

1. Knowledge



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. Define accounting, and identify its various uses

2. Critically evaluate and report on the uses and users of accounting information in Australia

3. Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia

4. Critically evaluate and report on the ethical requirements for accountants in Australia

5. Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.

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

1. Knowledge

3. Cognitive, technical and creative skills

6. Ethical and Professional Responsibility


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