Unit convenor and teaching staff |
Unit convenor and teaching staff
Lecturer-in-charge
Adrian Koit
By email and appointment
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Credit points |
Credit points
4
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Prerequisites |
Prerequisites
(ACCG611 or ACCG861) and (admission to MAcc(Prof) or MAcc(CPA) or MAcc(Prof)MCom)
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Corequisites |
Corequisites
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Co-badged status |
Co-badged status
ACCG 923 Accounting Standards and Practice is co-badged with ACCG 612 Intermediate Financial Accounting.
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Unit description |
Unit description
This unit examines advanced topics relating to accounting standards, practice and financial reporting. The general purpose financial reporting framework is examined from the perspective of a single incorporated entity. In doing so, the unit emphasises the development of a conceptual understanding of accounting in addition to accounting procedures. Students are required to gain an insight into the development of statutory reporting requirements, accounting standards and the conceptual framework project, cash flow statements, the measurement of non-current assets and liabilities, and analysis and interpretation of financial statements.
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Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Name | Weighting | Due |
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1. Class Tests | 20% | Week 4, 10 |
2. Assignment | 15% | Week 9 |
3. Assessed Coursework | 10% | weekly |
4. Final Examination | 55% | Examination period |
Due: Week 4, 10
Weighting: 20%
Class Test
Due date
% Weight
1
Week 4
10%
2
Week 10
10%
During the session, two short tests will be conducted in class time (Refer to the above table for the time and weight of each test). The tests are designed to give timely feedback as to your understanding of key topics and concepts of topics covered and to identify any particular learning challenges or areas of difficulty prior to the final examination. Students who achieve poor results in class tests should consult the teaching staff regarding strategies for improving their performance. The duration and details of each test will be advised the week prior to the test. The tests may include multiple choice questions, true/false questions, problem solving exercises and short answers to set questions.
The tests will be conducted under closed book examination conditions. You have to only sit the short test in your registered class unless prior permission received in writing from the Unit Convenor. Please note that there will be no supplementary class tests for the cases of misadventure or illness. Students need to submit adequate documentation to the Unit Convenor in the case of misadventure or illness.
Extensions
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 tests will increase the weighting on other assessed tasks or provide an additional assessment task.
Penalties
Students who do not complete the class test in their registered class will be awarded a mark of zero for the task, except for cases in which an application for disruption to studies is made and approved.
Due: Week 9
Weighting: 15%
Full details of the major assignment (assignment objectives, question materials and requirements, etc) will be posted to the unit web page (iLearn).
The assignment is due by week 9 classes (the week starting from 13 October). Any submission after your class is considered as late assignment and it will not be accepted by your lecturer. For example, if students submit the assignment after their class time, but still within the same day, they will also be penalized for late submission.
For late assignment submission will be penalized at the rate of 20% of the maximum marks per day or part thereof.
You will be required to hand in your assignment to your lecturer during your registered class only. A Cover Sheet must be attached to the front of your assignment when submitted in hard copy. The cover sheet must be signed and dated and completed in FULL or your assignment will not be marked.
If students are unable to submit the assignment on time due to illness or misadventure, students should contact the Unit Convenor as soon as possible and hand in the appropriate absence form.
It is important for students to provide proof of such circumstance (eg. Medical certificate covering absence date and subsequent days until submission). No penalty will apply if the evidence provided is approved by the Unit Convenor and covers the entire period prior to submission.
All students are responsible for familiarizing themselves with the policy statement on cheating and plagiarism at Macquarie University. Please seek further advice if necessary.
A separate assignment task sheet with the details of the assignment will be available on the unit web page (iLearn) prior to the mid-session break.
Extensions:
No extensions will be granted, except for cases in which an application for disruption to studies is received (with any supporting documentation, e.g. medical certificate attached) and approved.
Penalties:
Late submission will be penalized at the rate of 20% of the maximum marks per day or part thereof.
Due: weekly
Weighting: 10%
Independent work on in-class focus question and homework problems is fundamental to satisfying the learning objectives of this unit.
You are not expected to always have the right answers from your independent work but you are expected to make a significant attempt at assigned questions before each class.
During the session, four of your weekly assignments (including both tutorial homework and in-class focus question) will be collected for the purpose of assessing your ongoing effort in the unit. Advance notice will NOT be given that a particular assignment is to be collected.
You should note that it is only possible for you to submit your assignment in the class in which you are enrolled and to which the assignment relates. The assignment must be submitted by you and not by an agent. If you do not attend a class and that week’s assignment is collected, the marks for that assignment will be forfeited.
For each of these four weekly assignments, your mark will be determined using the following grading system:
You should note that lecturers will not be marking the tutorial homework answers for correctness. It is your responsibility to correct your assignment during the class. With this in mind, and so that your in-class corrections can be distinguished from your pre-prepared answer, you can choose either of the following options to submit your weekly assignments:
1) word-processed or typed;
2) hand-written, but have to submit a photocopy of the assignment together with the original copy.
On the front page of each weekly assignment that you submit you must include your full name and your student number.
Extensions:
No extensions will be granted for submitting the weekly assignment late. Students absent from classes for medical reasons, upon presentation of medical certificate with be granted an allowance to submit an additional weekly assignment.
Penalties:
Zero for none submission in designated class (i.e. 0 mark for each collected assignment not handed in).
Due: Examination period
Weighting: 55%
A three hour final examination for this unit will be held during the University Examination period.
The University Examination period in the Second Half Year 2014 is from Monday 17 November to Friday 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.
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. The University’s policy on Disruption to Studies is available at
http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
If a Supplementary Examination is granted as a result of the Disruption to Studies the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. Please note that the supplementary examination will be of the 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.htm
Further details about the final exam for this unit will be available in the final week of classes and also on the unit web page (iLearn).
Classes
This unit is taught in the form of weekly three-hour class. Students are required to enrol in one class for this unit.
Changes to lecture time are managed by the on-line enrolment system. Please note that it is students' responsibility to check your class time and venue and ensure that you attend your registered class each week. The attendance records will be kept by lecturers.
On-line enrolment changes to lectures will be shut down at the end of Week 3 so all changes must be made by then. If you have unavoidable disruption during the semester and need to change class, you must contact Unit Convenor to get written approval to attend an alternative class.
ConsultationTimes
Consultation will be conducted by email at first instance. Where it is impractical to consult by email, a suitable time can be arranged between the student and lecturer.
Students experiencing significant difficulties with any topic in the unit must seek assistance immediately.
Required Texts and/or Materials
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.
Both the Binder Ready Version (BRV) and eBook Version are available. It is up to students to choose either the Binder Ready Version (BRV) or eBook Version. 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 them the chapters they require at a time and can add in other notes to their folders. EBook Version in conjunction with the WileyPlus pack is also available for students who prefer to access learning materials through iPad. Please note that WileyPlus is not a required learning material. Yet, it is possible for students to use Wileyplus on their own as a revision tool.
Course material is available on Macquarie University’s learning management system (iLearn). The unit web site (iLearn) is available via the link below: https://ilearn.mq.edu.au/login/MQ/
Technology Used and Required
· iLearn
This unit will use Macquarie University’s online technology for students to access course material, announcements as well as any other documents related to this unit. Students are required to regularly check the website for accessing up-to-dated information about this unit. The unit web site is available via the link below: https://ilearn.mq.edu.au/login/MQ/
Students need to have username and password to access to the unit web site. Please contact iLearn directly if you have any difficulties to access to the unit site. iLearn Student Help can be found from the following link: http://www.mq.edu.au/iLearn/help-pages/students.htm
This unit will be taught in the form of weekly three-hour class. Students are required to enrol in one class for this unit. The weekly three-hour class includes two components: lecture and tutorial.
Lecture Component
The lecture section will include a 1.5 – 2 hour presentation of the main concepts and content and a demonstration of practical example(s). Students need to download their lecture slides from the unit web page (iLearn) prior to attending the lecture. Students should complete their prescribed reading for the week prior to attending the lecture.
Tutorial Component
The tutorial section will be up to 1 to 1.25 hours. In the tutorial section, lecturers will discuss the previous week’s assigned homework questions, work through in-class focus question(s) and address any issues from the previous week’s materials. The tutorial provides an opportunity to discuss the solutions to selected homework questions and to have any problems or difficulties explained. Students should complete the assigned homework for the topic, consisting of discussion questions and practical exercises. Each week, an in-class focus question will be worked through to demonstrate the logical steps and processes involved in working through the practical aspect of the topic. The in-class focus question will cover the main or more difficult aspects of the topic.
Communication Skills
To assist students in developing their communication skills, one lecture on professional letter writing will be provided online through an existing video lecture prepared by Macquarie University English Language Centre (ELC). This video can be accessed by students on iLearn. This lecture is compulsory for all students. Material covered in this lecture may be examined in the assignment and the final examination for this unit.
Lecture Materials and Homework Solutions
The lecture materials provided on the unit web page (iLearn) will have some gaps for which you are required to complete in class, in particular for the practical aspect of the course. Completed lecture notes will not be made available on the unit web page (iLearn). You should complete the lecture materials in class.
All homework solutions will be available on the unit web page (iLearn). You are required to complete your weekly assignment (homework questions and in-class focus question) and make correction by using red pen.
A number of self-study questions will be set for each topic. These questions are designed to give students additional questions to attempt to assist in their understanding of each topic. These questions are not compulsory (however students are strongly encouraged to genuinely attempt these questions to gain the maximum benefit) and can be attempted at any time. The self-study solutions for all topics will be made available on the unit web page (iLearn). These questions and solutions will not be specifically addressed in class, should you have any queries you should ask your lecturer or one of the staff during consultation times.
Any important changes in lecture materials and homework solutions will be posted on the unit web page (iLearn). It is your responsibility to check the unit web page (iLearn) on the regular basis to ensure you are aware of any information which may be posted by the Unit Convenor during the course of the session.
ACCG923/612 Study Schedule
S2, 2014
Week commencing |
Topic |
Readings |
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1 |
August 4 |
Introduction of the course and the nature and regulation of companies |
Ch 1 |
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2 |
August 11 |
Financing company operations—Accounting for share capital and debentures |
Ch 2 |
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3 |
August 18 |
Accounting for company operations—including the elements of financial statements |
Ch 3
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4 |
August 25 |
Class Test 1
Accounting for income tax |
Ch 6 AASB 112 |
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5 |
September 1 |
Accounting for non-current assets—property, plant and equipment |
Ch 7 AASB 116 |
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6 |
September 8 |
Accounting for non-current assets—impairment of non-current assets
ELC (Video Lectures) |
Ch 11 AASB 136
Business Letter Writing Skills |
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7 |
September 15 |
Preparation and presentation of company financial statements |
Ch12 and Ch13 AASB 101 and 108 |
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Mid-Session Break (20 September to 6 October ) |
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8 |
October 7
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Self-revision week (No classes) |
Ch 9 AASB 138
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9 |
October 13 |
Assignment due
Cash flow statements I
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Ch14 AASB 107
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10 |
October 20 |
Class Test 2 Cash flow statements II
Business Combinations
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Ch14 AASB 107
Ch 10 AASB 3
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11 |
October 27 |
Research Seminar |
See the unit web page (iLearn) |
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12 |
November 3 |
Accounting for leases |
Ch 8 AASB 117 |
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13 |
November 10 |
Revision |
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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.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:
Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html
Macquarie University uses the following grades in coursework units of study:
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
To pass this unit you must pass (obtain at least 50%) in the overall performance and you must pass (obtain at least 50%) in the final examination.
If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
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.
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:
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:
Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.
This graduate capability is supported by:
This unit gives you opportunities to understand the current accounting research. A research seminar will be conducted in this unit. The research seminar topic will be announced in Week 7. This unit also provides you with insight in examining and applying research findings in your assignments. The unit contains a research-based major assignment worth 15% of the overall assessment.