Students
ACST852 – Finance and Financial Reporting
2014 – S2 Evening
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Sachi Purcal
Contact via sachi.purcal@mq.edu.au
E4A 615
Mondays 1500–1600 and Fridays 1500–1600 (in E4A 615) during the thirteen teaching weeks.
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|---|---|
| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
4cp in ACCG or ACST or BUS or ECON or MKTG units at 600 level
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| Corequisites |
Corequisites
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| Co-badged status |
Co-badged status
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| Unit description |
Unit description
This unit provides a basic understanding of corporate finance, including a knowledge of the instruments used by companies to raise finance and manage financial risk, and an ability to interpret accounts and financial statements of companies and financial institutions. Students gaining a grade of credit or higher in this unit may apply for exemption from subject CT2 of the professional exams of the Institute of Actuaries of Australia.
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Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
General Assessment Information
Extensions
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of zero for the task, except for cases in which an application for special consideration is made and approved.
Scaling
A Standardised Numerical Grade (SNG) gives you an indication of how you have performed within the band for your descriptive grade. The SNG is not a mark, and you may not be able to work it out based on your raw examination and other assessment marks. Nor are you able to determine you are “one mark away” from a different grade.
Gradebook
It is the responsibility of students to view their marks for each within session assessment on iLearn within 20 working days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment marks (not including the final exam mark) will not be addressed.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Class Test | 10% | 7/1014 |
| Assignment | 20% | 13/10/14 and 27/10/14 |
| Final Examination | 70% | Examination period |
Class Test
Due: 7/1014
Weighting: 10%
A class test covering the material taught in the first seven weeks of the course will be held in the first hour of the lecture in Week 08. The test will be of 50 minutes duration, and will commence punctually at 1805.
On successful completion you will be able to:
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
Assignment
Due: 13/10/14 and 27/10/14
Weighting: 20%
You will be assigned to a group to work on your Group Assignment. This task must be submitted electronically via iLearn.
You will use iLearn's peer assessment tool to mark the work of your classmates (due 27/10/14).
You will use iLearn's group assessment tool to assess the contribution of your groupmates (due 19/9/14 and 20/10/14).
On successful completion you will be able to:
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
Final Examination
Due: Examination period
Weighting: 70%
A three hour final examination for this unit will be held during the University Examination period.
You are permitted ONE A4 page of paper containing reference material printed on both sides. The material may be handwritten or typed. The page will not be returned at the end of the final examination.
On successful completion you will be able to:
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
Delivery and Resources
Required and Recommended Texts and/or Materials
Text
The ActEd CT2 notes (2014 edition) are the text for this unit. These are available from ActEd. To contact ActEd, see their website: http://www.acted.com.au
Note that the CT2 notes are not available from the Co-op bookshop. The notes are not available in the library.
Technology Used and Required
Calculators
You may use a calculator in the class test and in the final examination provided it is portable, silent and battery operated, but you must show clearly the steps involved in every calculation. You may NOT use any calculators that have a text-retrieval capacity, whether or not they have a full alphabet on the keyboard. Calculators may be checked at the commencement of the class test and final exam, and the make/model may be recorded.
Word processing
Students need to have access to word processing software (like Word) to complete the Group Assignment. You will need electronically submit your Assignment (using iLearn) as a PDF file. Check your word processing software can generate a PDF file.
Spreadsheet program
Many of the problems you will encounter in this unit can be solved easily with the spreadsheet program, Excel. You can use this spreadsheet program to verify your solutions to many of the problems you are solving.
Unit Schedule
| Week | Topic |
|---|---|
| 1 | Theory of finance, business structure, short & medium term finance. |
| 2 | Tax. Long term finance. Use of derivatives. |
| 3 | Issue of shares. Accounting concepts and regulation. |
| 4 | Depreciation. Income statement. |
| 5 | Balance sheet. |
| 6 | Cash flow statements. Statement of changes in equity. |
| 7 | Group accounts. Insurance company accounts. |
| Semester break | |
| 8 | Ratios: security of loan capital. |
| 9 | Ratios: shareholder analysis. |
| 10 | Limitations of accounts. Risk. |
| 11 | Weighted average cost of capital. Capital structure and dividend policy. |
| 12 | Evaluation of capital projects. |
| 13 | Revision |
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html
Assessment Policy http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html
Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.
In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
Supplementary Exams
Further information regarding supplementary exams, including dates, is available here
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Student Services and Support
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
Student Enquiries
For all student enquiries, visit Student Connect at ask.mq.edu.au
IT Help
For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/.
When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.
Graduate Capabilities
PG - Discipline Knowledge and Skills
Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.
This graduate capability is supported by:
Learning outcomes
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
Assessment tasks
- Class Test
- Assignment
- Final Examination
PG - Critical, Analytical and Integrative Thinking
Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.
This graduate capability is supported by:
Learning outcomes
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
Assessment tasks
- Class Test
- Assignment
- Final Examination
PG - Research and Problem Solving Capability
Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.
This graduate capability is supported by:
Learning outcomes
- Demonstrate an understanding of the basic concepts of finance.
- Demonstrate an understanding of the basic concepts of financial reporting.
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
Assessment tasks
- Class Test
- Assignment
- Final Examination
PG - Effective Communication
Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.
This graduate capability is supported by:
Learning outcomes
- Evaluate and critique a debate in finance and financial reporting.
- Organise and actively participate in a project to report on an aspect of finance and financial reporting.
Assessment task
- Assignment
Changes from Previous Offering
Research and Practice
- This unit uses research by Macquarie University researchers and external sources (references will be given in the unit notes).
- This unit uses research from external sources (references will be given in the unit notes).
- This unit gives you practice in applying research findings in your assignment.
- This unit gives you opportunities to conduct your own research.