ACCT11081 - Introductory Financial Accounting
Term 1 - 2017


All details in this unit profile for ACCT11081 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 key concepts of financial accounting and supports you to apply these concepts to various elements of accounting. You will also examine financial statements and how they are analysed and interpreted for effective decision making by both internal and external users. This unit prepares you for further accounting units.

Details

Career Level Undergraduate
Unit Level Level 1
Credit Points 6
Student Contribution Band [not found]
Fraction of Full-Time Student Load 0.125

Pre-requisites or Co-requisites

Pre-requisite: ACCT11059 or ACCT11057

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 Undergraduate 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. Online Quiz(zes) 20%
2. Written Assessment 30%
3. Examination 50%

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.

On successful completion of this unit, you will be able to:
  1. Describe the accounting conceptual framework as it applies to specific financial reports
  2. Apply the accounting conceptual framework to the measurement of the elements of accounting
  3. Examine how financial statements are analysed and interpreted for effective decision making
  4. Interact effectively with peers.

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Quiz(zes)  
2 - Written Assessment  
3 - Examination  

Alignment of Graduate Attributes to Learning Outcomes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1. Communication    
2. Problem Solving
3. Critical Thinking    
4. Information Literacy        
5. Team Work      
6. Information Technology Competence        
7. Cross Cultural Competence        
8. Ethical practice        

Alignment of Assessment Tasks to Graduate Attributes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Online Quiz(zes)          
2 - Written Assessment        
3 - Examination          

Prescribed Textbooks

Accounting
Author/s: Hoggett, Medlin, Edwards, Chalmers, Hellmann, Beattie & Maxfield Year: 2015
Edition: 9th edn Publisher: Wiley
City: Milton State: Queensland
Country: Australia
Wipeout Water World: An Accounting Practice Set Using MYOB AccountRight v19 (Pearson Original Edition)
Author/s: Brown, Marian Year: 2014
Edition: 1st Publisher: Pearson
City: Frenchs Forest State: NSW
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:

The Accounting 9th edition textbook can be purchased as an e-book directly from the online Wiley website at http://www.wileydirect.com.au/buy/accounting-9th-edition/

The e-book is usually cheaper than the hard copy textbook.

Students MUST obtain the current version of the MYOB Practice Set as those from previous terms cannot be used in this term.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • MYOB Accountright Plus v19
  • 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 CoordinatorMaria Tyler (m.tyler@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 The framework of accounting

17

Assessment Task 1 (online quiz in WileyPlus) will open at 9am AEST on Monday of Week 1.

Week 2 13-03-2017

Receivables

18

Week 3 20-03-2017

Inventories

19

Week 4 27-03-2017

Partnerships

15

Week 5 03-04-2017

Accounting Systems: MYOB

7, pp. 312-317 and the Practice Set (part of your required textbooks for this unit) - you should complete the training portion of the Practice Set this week.

Vacation Week 10-04-2017

If you haven't already done so, now is a good time to complete your Assessment 1!

Week 6 17-04-2017

Non-current Assets - acquisition and depreciation

20

Week 7 24-04-2017

Non-current Assets - revaluation, disposal and other aspects

21

Online Quiz Due Monday (24 Apr 17) 11:00 AM AEST
Week 8 01-05-2017

Liabilities

22

Week 9 08-05-2017

Presentation of Financial Statements

23

Week 10 15-05-2017

Statement of Cash Flows

24

Exam advice available in Moodle in Week 10.

Practical and Written Assessment Due Monday (15 May 17) 11:00 AM AEST
Week 11 22-05-2017

Financial statement analysis

25

Week 12 29-05-2017

Revision

Use the provided Exam Advice released in Moodle, along with the revision materials under the Week 12 resources in Moodle.

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

1 Online Quiz(zes)

Assessment Title Online Quiz
Task Description

All students must complete this piece of assessment by doing one online quiz (timed).

Before you commence your quiz you MUST read the information relating to the online quiz found in the Assessment Box on the course website. The quiz is open book and should be completed individually.

The quiz will contain twenty (20) questions which will be either/or a combination of multiple choice, true/false or short answer questions. The questions relate to the textbook chapters as follows: Ch.17 - 5 questions, Ch.18 - 5 questions, Ch.19 - 5 questions, Ch.15 - 5 questions (covering the work from Weeks 1 through 4 inclusive). The questions are randomly generated so that all students should complete the quiz with different questions. Each question is worth 1 mark. You will be able to see your result immediately. Your total is out of twenty marks (worth 20% of the course total marks).

You will need a calculator as some of the questions may be practical.

The quiz is timed for sixty (60) minutes. Please pay particular attention to the time and ensure that you submit BEFORE your allocated time limit is up, otherwise you will be scored zero for that quiz.

You can only attempt the online quiz once. Each question can only be attempted once.

No extensions will be granted for the Quiz. This includes misreading of the quiz availability time period or commencing the term late. The online quiz cannot be deferred.

If you experience a technical problem, you MUST immediately document this (such as taking a screen shot or a photo on your mobile phone) and email this to your Unit Coordinator as soon as possible. You must document how far through the quiz you were at the time of the technical problem. The Unit Coordinator can confirm these details from the system. You should contact the WileyPlus technical support team for assistance in the first instance.

Students are strongly advised to print out and keep a copy of any documentation that proves you have sat this quiz. You do not have to send anything to the Unit Coordinator (or any other member of the teaching team) as the Unit Coordinator can access the results online, but in the unlikely event of technical problems you will have proof of the work you have completed.

You do not have to submit anything in Moodle for this assessment. The Unit Coordinator will transfer your result from WileyPlus to Moodle at the end of term, before your final exam.

Number of Quizzes 1
Assessment Due Date Week 7 Monday (24-Apr-2017) 11:00 AM AEST
Return Date to Students Results are provided immediately after the test has been submitted in WileyPlus. Results will be transferred to Moodle at the end of term by the Unit Coordinator.
Weighting 20%
Assessment Criteria

Students will be marked on the accuracy of the answers provided in the quiz.

Submission Online

Assessment 1 must be completed in WileyPlus. Please refer to the Moodle site for more details.

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

1. Describe the accounting conceptual framework as it applies to specific financial reports

2. Apply the accounting conceptual framework to the measurement of the elements of accounting

3. Examine how financial statements are analysed and interpreted for effective decision making

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

1. Communication

2. Problem Solving

3. Critical Thinking



2 Written Assessment

Assessment Title Practical and Written Assessment
Task Description

This assignment is a practical assignment with a written component. Students are required to complete a computerised practice set using MYOB AccountRight Plus v19 (this practice set is one of your set text books and must be purchased - refer to the required textbooks information). Full details of this assessment item will be available in Moodle at the commencement of term, in the Assessment information box. You should be able to start this assignment after you have completed the work in Week 5. You can begin the assignment earlier if you complete Part A of the Practice Set earlier than Week 5. This assessment must be submitted electronically through Moodle. This assessment consists of three components: Step 1 is an individual reflection on technical content, Step 2 centres on key figures from the MYOB practice set, and Step 3 includes peer feedback. Ensure that you very carefully read the full details of this assessment item in Moodle.

Assessment Due Date Week 10 Monday (15-May-2017) 11:00 AM AEST
Return Date to Students Within two weeks from the due date of the assignment (or from submission date for late assessments).
Weighting 30%
Assessment Criteria

Marking will be based on how accurately the MYOB accounting recording process has been followed as taught in the Practice Set. This is assessed through submitted key figures from reports generated as part of the Practice Set.

Marking for the written component will be based on the accuracy of answers provided according to the outlined assessment criteria in Moodle.

Referencing Style American Psychological Association (APA)
Submission Online

Please refer to the Moodle course site for submission details. Links are provided on Moodle for online submission.

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

2. Apply the accounting conceptual framework to the measurement of the elements of accounting

3. Examine how financial statements are analysed and interpreted for effective decision making

4. Interact effectively with peers.

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

1. Communication

2. Problem Solving

3. Critical Thinking

5. Team Work



Examination

Outline Complete an examination
Date During the University examination period
Weighting 50%
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. Describe the accounting conceptual framework as it applies to specific financial reports

2. Apply the accounting conceptual framework to the measurement of the elements of accounting

3. Examine how financial statements are analysed and interpreted for effective decision making

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

1. Communication

2. Problem Solving

3. Critical Thinking


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