Students
ACCG100 – Accounting IA
2015 – S2 Day
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Andreas Hellmann
Contact via accg100@mq.edu.au
E4A 233
TBA
Teaching Assistant
Claudia Chau
Unit Convenor
Nicholas McGuigan
Contact via accg100@mq.edu.au
Stephanie Perkiss
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|---|---|
| Credit points |
Credit points
3
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| Prerequisites |
Prerequisites
(Admission to BAppFin or BCom or BCom-Accg or BCom-ProfAccg or BComBA-Psych or BBusLeadCom) or (12cp and GPA of 2.0 (out of 4.0))
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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 is the first step towards an accounting career. It provides an introduction to the principles and concepts relating to financial accounting. It takes a decision-making focus and encourages students to not only prepare information but to understand how such information assists users in making important business decisions. The unit begins with discussion of the decision-making environment. By the end of the unit students are able to record basic business transactions, complete a worksheet and prepare a statement of financial performance and statement of financial position. An online practice set is used to consolidate the discrete topics taught and to connect classroom learning with practice. Learning materials which emphasise ethical practice and effective professional communication are also used to develop graduate capabilities. The unit practices constructive alignment in assessment. Graduate capability skills development is embedded in the learning experiences to enhance students' future employability in the profession.
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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.
- 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.
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Assessed Coursework | 20% | Week 3 - week 13 |
| Assignment | 30% | 19 October, 5pm |
| Final Examination | 50% | University Examination Period |
Assessed Coursework
Due: Week 3 - week 13
Weighting: 20%
Submission
You are required to attend and participate in your registered workshop. Students are required to answer weekly questions before their workshop. In addition, there are also six (6) unseen questions that will be distributed randomly in the workshop throughout the session (week 3- week 13). The highest five marks will be taken into account (4% x 5). Students will be instructed to complete these questions individually during Workshop participation. You will receive feedback from your tutor immediately.
Extension
Not applicable
Penalties
Zero for absent in registered workshop.
On successful completion you will be able to:
- 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.
Assignment
Due: 19 October, 5pm
Weighting: 30%
To access to the practice set, you must first create an account, then you will need to add the practice set to it and click on ‘ESR login’. For more information, click ‘ESR info’ after registration. More information will be provided on iLearn.
Submission
Final online submission deadline is Monday 19 October, 5 pm (week 11).
Extension
No extensions will be granted. Students who have not submitted the assignment prior to the deadline will be awarded a mark of 0 for the assignment, except for cases in which Disruption to Studies Notification is made and approved.
Penalties
Zero for non submission by due date.
On successful completion you will be able to:
- 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: 50%
A final examination is included as an assessment task for this unit to provide assurance that:
i) learning belongs to the student and
ii) 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. You MUST pass the final exam in order to pass this unit.
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 Notification. The University’s policy on Disruption to Studies is available at: http://mq.edu.au/policy/docs/disruption_studies/policy.html
If a Supplementary Examination is granted as a result of the Disruption to Studies Notification, 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 1, 2015 is available at: http://students.mq.edu.au/student_admin/exams/
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.
On successful completion you will be able to:
- 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.
Delivery and Resources
Classes
The unit has 3 hours face-to-face teaching per week consisting of 1.5 hours lecture and 1x1.5 hours workshop. The lectures provide a general overview of the topics highlighting the main concepts and techniques. The workshops complement lectures and provide students with an opportunity to explore relevant concepts with tutors.
Timetable for lectures
Students are required to attend their scheduled one-and-a-half-hour lecture per week. Lecture materials will be available for download via the unit website: http://ilearn.mq.edu.au. There are two lecture streams scheduled for this unit, one day class and one evening class as shown.
Time and day Room
Wednesday 8:30 am - 10 am Price Theatre (250 W5A)
Wednesday 6.00pm - 7.30pm T1 (216 C5C)
Timetable for workshops
Students are also required to attend a weekly two-hour group-based workshop. The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/.
Each student must register for a workshop and must attend the workshop that she/he has registered for. Workshops begin in week 2 - the week beginning 2 March.
Workshop places have been allocated by the University’s online enrolment system. If you do not already have a workshop time, then you must enrol online as soon as possible.
Due to the large number of students enrolled in ACCG100, changes to workshop times are managed by the online enrolment system. It is not necessary to contact members of staff about workshop changes. Online enrolment changes will be shut down at the end of week three so all changes must be made by then.
You can only attend class and sit for the class test in your registered workshop.
Timetable for consultation
Consultation sessions will be provided per week during the teaching period starting from week 3. Consultation during the mid-semester break will not be available. The consultation timetable will also be posted on iLearn.
You are encouraged to seek help at a time that is convenient to you from a staff member teaching on this unit during their regular consultation hours. In special circumstances, an appointment may be made outside regular consultation hours. Staff will not conduct consultations by email. You may, however, phone staff during their consultation hours.
In order to gain access to staff located at Levels 1, 2 and 3 of building E4A during their consultation hours, please ring the staff member from the phones available in the lobby (phone numbers of relevant staff members will be provided on iLearn and are available next to the phones)
Required and Recommended Texts and/or Materials
Prescribed textbook:
John Hoggett, Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield 2015. Accounting, 9th Edition, John Wiley & Sons Australia, Queensland [hereafter referred to as Hoggett].
Purchase options
There are 4 purchase options, the first option can be purchased online, and the remaining three options can be purchased from the Macquarie University Co-op Bookshop:
1. eBook only (purchase from https://www.johnwiley.com.au/sc/cart.jsf?isbn10=0730301192)
2. eBook + Wiley plus
3. Binder-ready only
4. Binder-ready + Wiley plus
We strongly recommend that you select either option 2 or 4, (i.e. include the Wiley plus option in your selection), as there are additional tools to assist with your learning. Copies of the textbook are available in the reserve section of the library.
Prescribed workbook
Perdisco
The practice set workbook is assessed online. See Assessment Tasks for details.
Technology Used and Required
Students require computer technology sufficient to regularly access the ACCG100 iLearn webpage via the internet and to complete the online practice set.
Unit Web Page
Unit materials, suggested solutions, announcements and other relevant information are found on iLearn for the unit at: http://ilearn.mq.edu.au.
Students are expected to visit the unit webpage on a regular basis.
Unit Schedule
|
Weeks |
Week commencing |
Lecture topic |
Textbook chapter |
|
1 |
27 July |
Role of accounting & ethics Guest speaker 1 |
Ch1 |
|
2 |
3 August |
Financial statements and accounting assumptions Guest speaker 2 |
Ch2 |
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3 |
10 August |
Recording transactions |
Ch2 Ch3 |
|
4 |
17 August |
Adjusting entries and preparing financial statements |
Ch4 |
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5 |
24 August |
Completing the accounting cycle |
Ch4 Ch5 |
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6 |
31 August |
Accounting systems (exclude MYOB) |
Ch7 |
| 7 | 7 September |
Cash management and control |
Ch10 |
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|
Mid session break (12 - 27 Sept) |
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8 |
28 September |
Accounting for retailing and inventory I |
Ch6 Ch19 |
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9 |
5 October |
Accounting for retailing and inventory II |
Ch6 Ch19 |
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10 |
12 October |
Accounting for Receivables |
Ch18 |
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11 |
19 October |
Accounting for Depreciation |
Ch20 |
|
12 |
26 October |
Introduction to cash flow statement |
Ch 24 |
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13 |
2 November |
Revision and Final exam guidance |
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Learning and Teaching Activities
Lectures – large group learning
Independent learning – learning by doing
Workshops – small group learning
Online practice set
Time commitment
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/
Results
Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.
Academic Honesty
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:
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all academic work claimed as original is the work of the author making the claim
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all academic collaborations are acknowledged
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academic work is not falsified in any way
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when the ideas of others are used, these ideas are acknowledged appropriately.
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
Grades
Macquarie University uses the following grades in coursework units of study:
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HD - High Distinction
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D - Distinction
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CR - Credit
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P - Pass
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F - Fail
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.
Grading Appeals and Final Examination Script Viewing
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.
Disruption to Studies Notification.
The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that there may be circumstances where a student is prevented by unavoidable disruption from performing in accordance with their ability.
Disruption to Studies Notification. The University’s policy on Disruption to Studies is available at: http://mq.edu.au/policy/docs/disruption_studies/policy.html
http://students.mq.edu.au/student_admin/exams/disruption_to_studies/
However, disruption to Studies will only be approved to students who have satisfactory performance in this unit. Satisfactory performance means that students must achieve at least 50% in their coursework. If the criterion is not met for disruption to Studies , it will be rejected as ‘Invalid’.
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.
In addition, ACCG100 also provides Peer-Assisted Learning (PAL). PAL is unit specific workshops led bytrained students who have excelled in those particular units. The weekly workshops are open to all enrolled students in ACCG100 and are FREE! PAL workshops function in a group setting in an effort to promote improved learning and understanding of the unit's content. It is a program for all levels of students studying the unit, not just the ‘I'm barely passing’ students. Participating in PAL increases the likelihood of achieving higher grades. More information is available at:
Academic literacy/Learning skills offers a range of resources, such as workshops and online resources aimed specifically at undergraduate students. They also have Learning Advisers who act as Academic Literacy Consultants. These resources are designed to enhance the academic skills that are necessary for succeeding in university studies. For further information, please refer to the following website:
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
Discipline Specific Knowledge and Skills
Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.
This graduate capability is supported by:
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.
Assessment tasks
- Assessed Coursework
- Assignment
- Final Examination
Critical, Analytical and Integrative Thinking
We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.
This graduate capability is supported by:
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.
Assessment tasks
- Assessed Coursework
- Assignment
- Final Examination
Problem Solving and Research Capability
Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.
This graduate capability is supported by:
Learning outcomes
- 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.
Assessment tasks
- Assessed Coursework
- Assignment
Effective Communication
We want to develop in our students the ability to communicate and convey their views in forms effective with different audiences. We want our graduates to take with them the capability to read, listen, question, gather and evaluate information resources in a variety of formats, assess, write clearly, speak effectively, and to use visual communication and communication technologies as appropriate.
This graduate capability is supported by:
Learning outcomes
- Understand and explain underlying accounting concepts and link them to the recording process and to the reporting of financial information.
- Ability to prepare a set of Financial Statements for both internal and external users.
Assessment tasks
- Assessed Coursework
- Assignment
- Final Examination
Changes from Previous Offering
RESEARCH AND PRACTICE, GLOBAL AND SUSTAINABILITY
This unit addresses global and sustainability issues as direct areas of study and as necessary implications arising from the materials, assessment and academic discussion and debate in classes/seminars. We promote sustainability by developing ability in students to research and locate information within accounting discipline. We aim to provide students with an opportunity to obtain skills which will benefit them throughout their career.
This unit gives you opportunities to conduct your own research with regard to the concepts discussed in the unit. Further reading of relevant texts, academic journals and the business press is recommended to provide valuable real-life context to the concepts discussed.