Class Tests

Due: Weeks 4 and 8 Weighting: 20%

Two class tests (weeks 4 and 10) will be conducted in tutorials during the session, each worth 10% of the total assessment. The tests will cover all lecture material and readings from the weeks indicated.

Test 1 – Week 4: This test will cover topics covered in weeks 1, 2 and 3

Test 2 – Week 8: This test will cover topics covered in weeks 4, 5, 6 and 7.

It is each student’s responsibility to ensure that they attend the tutorial they are registered in to attempt the Test.

Any student who fails to complete a test in their prescribed tutorial will receive zero marks unless a legitimate request for disruptions to studies is received.

Feedback concerning student’s performance on each of the tests will be provided within two weeks of the conclusion of the availability of each test.

Submission

You are required to sit for the test in your registered tutorial.

Extension

No extensions will be granted. Students who are absent from the test will be awarded a mark of ZERO, except for cases in which an application for 'disruption to studies' is made and approved.

Penalties

A mark of zero will be awarded to students who are absent from the test.

This Assessment Task relates to the following Learning Outcomes:

• identify users of financial information and the use of the information for decision making in business.
• understand and explain underlying accounting concepts and link them to the recording process and to the reporting of financial information.
• account for company operations and main elements of financial statements, including assets, liabilities, equity, income and expenses.
• ability to record adjusting entries, closing entries and reversing entries.
• ability to prepare a set of Financial Statements for both internal and external users. 

Assessed coursework

Due: Ongoing Weighting: 10%

There will be twelve weekly assignments collected by tutors during the session. This requires students to complete the ‘tutorial questions’ as outlined on pages 13-14 for every week. These collections must be submitted to your tutor at the start of your normal tutorial. No assignments submitted after this time will be accepted. Tutorial homework questions will be graded as follows:

1 mark – satisfactory completion (bona fida attempt has been made to complete all assigned questions) , ½ mark – unsatisfactory completion (partial attempt of assigned questions),

A mark of zero (work not submitted) - Students who fail to submit their assignment in the designated tutorial will receive a mark of zero.

Within the first four weeks three collections will act as another early diagnostic of how students are handling the materials in the unit. This will allow tutors to provide advice on how students might address any early problems they are encountering with the content and issues in the unit. If a student experiences difficulties in handling this task then they are advised to seek additional assistance in one of the consultation times listed on the unit website.

Submission

You are required to submit your assessed coursework in your registered tutorial.

Extension

Not applicable

Penalties

Zero for non submission in registered tutorial.

This Assessment Task relates to the following Learning Outcomes:

• identify users of financial information and the use of the information for decision making in business.
• understand and explain underlying accounting concepts and link them to the recording process and to the reporting of financial information.
• account for company operations and main elements of financial statements, including assets, liabilities, equity, income and expenses.
• ability to record adjusting entries, closing entries and reversing entries. 

In class Quizzes

Due: Weeks 2 - 12 Weighting: 10%

Five in-class quizzes will be conducted in tutorials during the session, each worth 2% of the total assessment. The quizzes will be open book.

It is each student’s responsibility to ensure that they attend the tutorial they are registered in to attempt the quiz.

Any student who fails to complete a quiz in their prescribed tutorial will receive zero marks unless a legitimate request for disruptions to studies is received.

Feedback concerning student’s performance on each of the quizzes will be provided.

Submission

You are required to sit for the quiz in your registered tutorial.

Extension

No extensions will be granted. Students who are absent from the quiz will be awarded a mark of ZERO, except for cases in which an application for 'disruption to studies' is made and approved.

Penalties

A mark of zero will be awarded to students who are absent from the quiz.

This Assessment Task relates to the following Learning Outcomes:

• identify users of financial information and the use of the information for decision making in business.
• understand and explain underlying accounting concepts and link them to the recording process and to the reporting of financial information.
• account for company operations and main elements of financial statements, including assets, liabilities, equity, income and expenses.
• ability to record adjusting entries, closing entries and reversing entries.
• ability to prepare a set of Financial Statements for both internal and external users. 

Final Examination

Due: University Examination Period Weighting: 60%

A final examination is included as an assessment task for this unit to provide assurance that:

1. The product belongs to the student and
2. The student has attained the knowledge and skills tested in the exam.

A 3 hour closed book final examination for this unit will be held during the University Examination period. More information will be released in the revision lecture in week 13. Students MUST PASS the final examination (regardless of their performance during the session) to gain a passing grade in this unit.

You are expected to present yourself for examination at the time and place designated in the Final Examination Timetable. The timetable will be available in Provisional form approximately in week ten of this Session. You will have 1 week to give feedback to the Student Administration Manager. Prior to the examination period, you should ensure that you are familiar with the Examination Regulations. You can find these under Exam Information on the Student Portal Noticeboard.

Submission

Please check for the University Examination period.

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://exams.mq.edu.au/

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" application. The relevant website is provided in the 'Policies and Procedures Section' of this Unit Guide,

However, only those applications will be approved if students who have satisfactory performance in this unit. Satisfactory performance means that students mush achieve at least 50% in their coursework. If the criterion is not met in an application for special consideration subsequently, it will be rejected as 'Invalid'.

If a Supplementary Examination is granted as a result of the Special Consideration process, 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.

Supplementary examination information for session 2, 2014 will be available in due course.

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

Penalties

A 'Fail' grade will be awarded to students who are absent from the final exam.