Students
ACCG611 – Principles of Accounting
2014 – MQC S2 Day
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Leisa Henness
Contact via Leisa.Henness@mq.edu.au
Lecturer
Mohamed Alisabri Haniffa
Contact via mohamed.haniffa@mq.edu.au
Moderator (North Ryde Campus)
Colly He
Contact via liyu.he@mq.edu.au
Moderator (North Ryde Campus)
Colly He
Contact via liyu.he@mq.edu.au
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| Credit points |
Credit points
4
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| Prerequisites |
Prerequisites
Admission to MAcc(CPA) or MAcc(Prof) or MCom or MEc or MIntBus or MAcc(Prof)MCom or MBioTechMCom or MIntBusMIntComm or MIntBusMIntRel
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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 students with a graduate-level understanding of accounting as a business process to record, measure, classify and report relevant economic, financial and other related information and transactions for use by a variety of stakeholders. Students completing the unit are expected to be able to prepare, analyse and discuss financial reports in various business contexts. Seminars cover the core aspects of the preparation and basic analyses of financial statements and the underlying policies and principles.
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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:
- Identify users of financial information and the use of the information for decision making in business;
- Explain underlying accounting concepts and account for business operations;
- Apply underlying accounting concepts to the recording process and to the reporting of financial information;
- Analyze the financial position and financial performance of a business based on the information given;
- Review business operations and accounting process, and provide recommendations;
- Practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Assessed Coursework | 10% | Twice randomly |
| Class Test | 20% | weeks 5 & 9 |
| Assignment | 20% | week 11 |
| Final Examination | 50% | Examination period |
Assessed Coursework
Due: Twice randomly
Weighting: 10%
Homework will be collected twice randomly during the session. The first homework collection will be an early diagnostic indicator for students at academic risk. Students with unsatisfactory performance are asked to consult the lecturer about ways to improve their performance.
Submission
Hard copy of weekly homework will be randomly collected twice in your registered class.
Extension
No extensions will be granted. Students who have not submitted the homework will be awarded a mark of 0 for the task, except for cases in which an application for Disruption to Studies is made and approved. Based on Disruption to Studies, another random will be made.
On successful completion you will be able to:
- Identify users of financial information and the use of the information for decision making in business;
- Explain underlying accounting concepts and account for business operations;
- Apply underlying accounting concepts to the recording process and to the reporting of financial information;
- Practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.
Class Test
Due: weeks 5 & 9
Weighting: 20%
Students are required to attempt two in-class tests. The test weights 10% each. Detail information about in-class tests will be released on iLearn.
Submission
You can only attempt the tests in your registered class.
Extension
No extensions will be granted. Students who have not attempted the in-class test will be awarded a mark of 0 for the test, except for cases in which an application for Disruption to Studies is made and approved. Note that there will be no supplementary test. Students who are absent from the first in-class test will increase the weighting on the second in-class test and vice versa if an application for Disruption to Studies is made and approved. Students who miss both tests will shift the assessment percentage to Assessed Coursework and Assignment evenly if an application for Discruption to Studies is made and approved.
On successful completion you will be able to:
- Identify users of financial information and the use of the information for decision making in business;
- Explain underlying accounting concepts and account for business operations;
- Apply underlying accounting concepts to the recording process and to the reporting of financial information;
- Analyze the financial position and financial performance of a business based on the information given;
- Review business operations and accounting process, and provide recommendations;
- Practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.
Assignment
Due: week 11
Weighting: 20%
The assignment is an online accounting practice set assignment providing each student with a unique accounting scenario and therefore must be completed on an individual basis. The practice set assignment is a major learning activity, taking up to 20 study hours to complete over a number of days or weeks.
Submission
Submit online
Extension
No extensions will be granted. Students who have not submitted the practice set prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for Disruption to Studies is made and approved.
On successful completion you will be able to:
- Identify users of financial information and the use of the information for decision making in business;
- Explain underlying accounting concepts and account for business operations;
- Apply underlying accounting concepts to the recording process and to the reporting of financial information;
Final Examination
Due: Examination period
Weighting: 50%
Submission
A final examination for this unit will be held during the University Examination period. It is an open book 3 hour exam. More information will be released in the revision lecture in week 13.
The University Examination period in Session 2 2014 is from 17 November to 5 December.
You are expected to present yourself for examination at the time and place designated in the University Examination Timetable. The timetable will be available in Draft form approximately eight weeks before the commencement of the examinations and in Final form approximately four weeks before the commencement of the examinations. http://students.mq.edu.au/student_admin/exams/
Grade
Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at: http://www.mq.edu.au/policy/docs/grading/policy.html
All final grades in the Department of Accounting and Corporate Governance are determined by a grading committee and are not the sole responsibility of the Unit Coordinator. Students will be awarded one of these grades plus a Standardised Numerical Grade (SNG). The SNG is not necessarily a summation of the individual assessment components. The final grade and SNG that are awarded reflect the corresponding grade descriptor in the Grading Policy.
In addition, there is a requirement to pass the final examination to be awarded a final grade of a Pass or a higher grade.
Extension
The only exception to not sitting an examination at the designated time is because of documented illness or unavoidable disruption. In these circumstances you may wish to consider applying for Disruption to Studies. If a Supplementary Examination is granted as a result of the Disruption to Studies process the examination will be scheduled after the conclusion of the official examination period. Please note that the supplementary examination will be of similar format as the final examination. The Macquarie university examination policy details the principles and conduct of examinations at the University. The policy is available at: http://www.mq.edu.au/policy/docs/examination/policy.html
Supplementary examination information for session 2 2014 is available at: http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/disruption_to_studies
The supplementary exam will be held in January, 2015 (TBC).
On successful completion you will be able to:
- Explain underlying accounting concepts and account for business operations;
- Apply underlying accounting concepts to the recording process and to the reporting of financial information;
- Analyze the financial position and financial performance of a business based on the information given;
- Review business operations and accounting process, and provide recommendations;
- Practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.
Delivery and Resources
Classes
The unit has 3 hours face-to-face teaching per week. The class will run in a seminar style.
There are 2 streams
Wednesday 8.30 -11.30 Room 213
Thursday 12.30 - 3.30 Room TBA
Consultation
The lecturers on this unit are available for consultation during teaching weeks by appointment, this request can be made via email. Revision workshop and consultation will be made available during the mid semester break. Advise of this will be posted on learn prior to the mid semester break.
Lecturers will also endeavour to answer queries via email. Students experiencing difficulties should seek help as soon as possible
Required and Recommended Texts and/or Materials
Textbook
Hoggett J., Edwards, L., Medlin, J. and Tilling, M. (2012), Accounting, 8th edition, John Wiley and Sons Australia
The prescribed textbook can be purchased from the Co-op Bookshop on campus. In addition, copies of the textbook are available in the reserve section of the library.
There are two purchase options:
(1) Binder Ready Version (BRV)
The BRV format means that they are loose-leaf pages of the text book and not bound into a book. The advantage is that students only carry with the chapters they require at a time and can add in other notes to their folders.
(2) The BRV + WileyPLUS
Note that WileyPlus is not a required learning material in ACCG 611. Yet, it is possible for students to use WileyPlus on their own as a revision tool. Students who purchase WileyPLUS can use the following link to access http://wpadmin.wileyplus.com/edugen/secure/student/index-mwp.uni
Please note that E-book is not permitted in ACCG 611.
Online practice set assignment
Technology boutique practice set assignment (provided by Perdisco)
Unit Web Page
Course materials are available on the learning management system (iLearn)
Technology Used and Required
In this unit, students require computer technology sufficient to regularly access the unit iLearn webpage via the internet and to complete the online practice set.
Unit Schedule
Unit Schedule
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Week |
Commencing |
Lecture Topic |
Textbook Chapter |
Homework questions to be completed |
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1 |
4 Aug |
Introduction to Accounting |
1 2 (pp 28-40) |
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2 |
11 Aug |
Recording Transactions |
2 (pp 41-45) 3 |
Ch1: DQ 1, 2 Ch2: DQ 3, 5, Ex 2.7 Pro 2.3, 2.5 |
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3 |
18 Aug (Access available for online practice set) |
Adjusting Entries & Preparing Financial Statements |
4 (pp 122-147) |
Ch2: Pro 2.4, 2.6 Ch3: Ex 3.10 Pro 3.4, 3.11
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4 |
25 Aug |
Completing the Accounting Cycle |
4 (pp 148-155) 5 |
Ch 4: DQ 2, 7 Ex 4.3, 4.7 Pro 4.4, 4.14
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5 |
1 Sep Test 1 |
Accounting System (Not Including QuickBooks & MYOB) |
7 |
Ch 4: Pro 4.8 Ch 5: DQ 7, 8 Ex 5.8 Pro 5.4, 5.11
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6 |
8 Sep |
Accounting for Retailing |
6 |
Ch 7: DQ 2 Ex 7.2, 7.12 Pro 7.8 (part A), 7.13 |
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7 |
15 Sep |
Accounting for Inventory |
19 |
Ch 6: DQ 4, 8 Ex 6.5, 6.7 Pro 6.4 (Part B,C,D), Pro 6.5 (Part B,C,D) (Note: the selling price of lamp is $60 each, not $70), 6.13 |
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Mid-semester Break 22 Sep – 6 Oct, 2014 |
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8 |
7 Oct |
Cash Management and Control |
10 |
Ch 19: DQ 8, 9 Ex 19.3, 19.6 Pro: 19.7, 19.8, 19.11 |
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9 |
13 Oct Test 2 |
Accounting for Receivables |
18 (pp 748-763) |
Ch 10: DQ 3, 7 Ex 10.9, 10.10 Pro 10.8, 10.10 |
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10 |
20 Oct |
Accounting for Depreciation |
20 21 (pp 874-878) |
Ch 18: DQ 5, 6 Ex 18.3, 18.5 Pro 18.5, 18.11 |
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11 |
27 Oct (Practice set submission by 11:59pm 31Oct) |
Accounting for Partnership |
15 Additional reading materials released on iLearn |
Ch 20: DQ 5, 9 Ex 20.7, 20.10 Pro 20.8, 20.12 Ch 21: Ex 21.11
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12 |
3 Nov |
Revision I |
Ch 15: DQ 2, 8 Ex 15.2, 15.9 Pro 15.6, 15.9, 15.12 Additional reading materials: Pro 13.4, 13.5 |
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13 |
10 Nov |
Revision II |
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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/
Grade Appeals and Final Examination Script Viewing at Macquarie City Campus
Please request a script at: http://www.city.mq.edu.au/reviews-appeals.html
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.
Please see the City Campus webpage and this link for further details:
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.
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 and it outlines what can be done.
http://www.mq.edu.au/policy/docs/acceptable_use/policy.html
Students must use their Macquarie University email addresses to communicate with staff as it is University policy that the University issued email account is used for official University communication.
Students are expected to act responsibly when utilising Macquarie City Campus IT facilities. The following regulations apply to the use of computing facilities and online services:
- Accessing inappropriate web sites or downloading inappropriate material is not permitted.
- Material that is not related to coursework for approved unit is deemed inappropriate.
- Downloading copyright material without permission from the copyright owner is illegal, and strictly prohibited. Students detected undertaking such activities will face disciplinary action, which may result in criminal proceedings.
Non-compliance with these conditions may result in disciplinary action without further notice.
If you would like to borrow headphones for use in the Macquarie City Campus computer labs (210, 307, 311, 608) at any point, please ask at Level 2 Reception. You will be required to provide your MQC Student ID card. This will be held as a deposit while using the equipment.
For assistance in the computer labs, please see a Lab Demonstrator (usually they can be found in Lab 311, otherwise ask at Level 2 Reception).
Research & Practice
The findings of research studies in relation to some topics will be discussed briefly during the session. Students are encouraged to use library resources to go beyond the prescribed text in understanding the concepts taught in this unit and to complete their assessment tasks.