Students
ACCG100 – Accounting in Society
2016 – S2 Evening
General Information
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| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor and Lecturer
Christofer Adrian
Contact via accg100@mq.edu.au
E4A 219
Teaching Assistant
Claudia Chau
Contact via accg100@mq.edu.au
Rahat Munir
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| Credit points |
Credit points
3
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| Prerequisites |
Prerequisites
(Admission to BAppFin or BCom or BCom-Accg or BComBA-Psych or BComBPsych(Hons) or BBusLeadCom or BCom-ProfAccg or BCom-ProfAccgBBusAnalytics or BCom-ProfAccgLLB or BBABComProf-Accg or BBusAnalytics) 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 focuses on the role of accounting in society. This unit is for students planning to pursue a career in accounting. By exploring and discovering diverse accountability frameworks, students will learn to appreciate the role accounting plays in society. The unit aims to introduce basic accounting language, concepts and method. Students will be provided with an opportunity to discuss evolving means of information preparation with an emphasis placed on understanding how such information assists users in making important business decisions. The role of accounting stewardship is explored, developing students’ awareness of social, environmental and ethical concerns in an attempt to develop well rounded business professionals.
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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:
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Understand the business environment in the context of the accounting profession.
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
- Develop an ability to communicate and work effectively in teams.
General Assessment Information
Disruption to Studies
All Disruption to Studies notifications are to be made online via the University’s Ask MQ system. You are required to follow the Disruption to Studies Policy and all related documents.
For other important policies and procedure concerning the assessment tasks see below 'Policies and Procedures'.
Turnitin
All text based assessments must be submitted through Turnitin as per instructions provided in the unit guide. It is the student’s responsibility to ensure that work is submitted correctly prior to the due date. No hard copies of assessments will be accepted and only Turnitin records will be taken as records of submission.
Multiple submissions may be possible in some units via Turnitin prior to the final due date and time of an assessment task and originality reports may be made available to students to view and check their work. All identified matching text will be reconsidered carefully. Students should note that the system will not immediately produce the similarity score on a second or subsequent submission - it approximately takes 24 hours for the report to be generated. This may be after the due date so students should plan any resubmissions carefully. Please refer to these instructions on how to submit your assignment through Turnitin and access similarity reports and feedback provided by teaching staff. Should you have questions about Turnitin or experience issues submitting through the system, you must inform your unit coordinator immediately. If the issue is technical in nature may also lodge OneHelp Ticket, refer to the IT help page.
It is the responsibility of the student to retain a copy of any work submitted. Students must produce these documents upon request. Copies should be retained until the end of the grade appeal period each term. In the event that a student is asked to produce another copy of work submitted and is unable to do so, they may be awarded zero (0) for that particular assessment task.
Expectations and Workload
| Activities | Hours | |
| 1 | Weekly lectures and tutorials | 38 |
| 2 | Assessment Task 1 (Assessed Coursework) | 14 |
| 3 | Assessment Task 2 (Case Study) | 20 |
| 4 | Assessment Task 3 (Class Tests) | 30 |
| 5 | Assessment Task 4 (Final Examination) | 30 |
| 6 | Readings and self-study | 18 |
| Total | 150 |
Assessment Tasks
| Name | Weighting | Due |
|---|---|---|
| Assessed Coursework | 10% | Weeks 3-12 |
| Case Study | 20% | 14 September 2016 |
| Class Tests | 30% | Weeks 4 and 10 |
| Final Examination | 40% | University Examination Period |
Assessed Coursework
Due: Weeks 3-12
Weighting: 10%
Independent work on the 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.
Criteria and standards
For each of homework submission, your mark will be determined using the following grading system:
- A satisfactory homework will be graded as “S” (satisfactory) and will earn 2 marks. To receive an “S”, the student must have made a genuine attempt to provide a comprehensive answer to ALL of the homework questions in that assignment.
- Where the majority of the homework’s questions have been comprehensively answered but where either (1) a small number of questions have been answered in a perfunctory manner OR (2) ONE of the questions has NOT been attempted, the homework will receive an “I” (incomplete) grade and will earn 1 mark.
- Where more than one question in the homework has not been attempted, or where the majority of questions have not be comprehensively answered, the homework will be graded as “U” (unsatisfactory) and will earn zero marks.
Submission
During the session, seven of your weekly homework will be collected for the purpose of assessing your ongoing effort in the unit. Advance notice will NOT be given that a particular homework is to be collected. The best FIVE out of seven submissions will contribute 10% of your overall grade for the unit.
You should note that it is only possible for you to submit your homework in the class in which you are enrolled. The homework must be submitted by you and not by an agent. If you do not attend a class and that week’s homework is collected, the marks for that homework will be forfeited.
You should note that tutors will not be marking the homework answers for correctness. It is your responsibility to correct your assignment during the class. You can choose either of the following options to submit your weekly homework:
1) word-processed or typed
2) hand-written
On the front page of each weekly homework that you submit you must include your full name and your student number.
Extensions and penalties
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task (i.e. 0 mark for each collected homework not handed in), except for cases in which an application for disruption of studies is made and approved.
On successful completion you will be able to:
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
Case Study
Due: 14 September 2016
Weighting: 20%
You are required to complete a case study assignment that is worth 20% of your overall grade. This will encourage you to work in groups and explore accounting and accountability issues in society, using material outside the assigned text. The tutor will allocate groups and distribute the case studies and general guidelines in Week 3. Based on the case study, each student is required to write an individual reflective task, worth 10% of your overall grade, accompanied by a group presentation, worth 10% of your overall grade.
2.1 Reflective task – 10%
Reflection is a powerful process of analysing and interpretation that helps us learn from our experiences. Reflecting on your life, work and education will impact the performance and success of your education. Based on the case study, an individual reflective task is to be completed by students, contributing 10% of your overall grade for the unit. Guidelines for completing the reflective task will be provided on iLearn.
2.2 Group presentation – 10%
Based on the case study, students are required to give a maximum of 10 minute group presentation. The tutors will allocate the schedule of the presentation, and students are required to present in the allocated week.
Criteria and standards
2.1 Reflective task: Reflective task will be marked on the basis of the marking criteria, which is provided on iLearn.
2.2 Group presentation: Group presentation will be marked on the basis of the marking criteria, which is provided on iLearn.
Submission
2.1 Reflective task: Submissions for the reflective task must be made to Turnitin on iLearn by 5pm on Wednesday 14 September 2016. Detailed submission instructions will be provided in the case study assignment brief that will be made available on iLearn early in the session. Guidance on how to submit a Turnitin assignment may be accessed from http://mq.edu.au/iLearn/student_info/assignments.htm#turnitin.
2.2 Group presentation: Students are required to deliver a maximum of 10 minute group presentation in their registered tutorials. The tutors will allocate the schedule of the presentation, and students are required to present in the allocated week.
Extension and penalties
No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for disruption of studies is made and approved.
On successful completion you will be able to:
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
- Develop an ability to communicate and work effectively in teams.
Class Tests
Due: Weeks 4 and 10
Weighting: 30%
3.1 Diagnostic test – 10%
In this assessment students will be given questions that evaluate their familiarity with key areas of the course, to demonstrate ability to discuss, explain and analyse specific features of contemporary accounting. This is not a research task and students are not required to read more broadly or to cite other references, however it does go beyond simply summarising unit material and students are expected to demonstrate their understanding and views. This is an early assessment to give students an opportunity to gain feedback on their writing and initial progress in the unit. The duration and details of the test will be advised the week prior to the test. The assessment is to be completed in students’ registered tutorials in Week 4, and be worth 10% of the overall grade.
3.2 Class test 2 – 20%
The purpose of this assessment is to give students timely feedback on their performance relating to 'Financial Accounting for Business'. The test will be answered under examination conditions and of examination standard. The duration and details of the test will be advised the week prior to the test. The assessment is to be completed in students’ registered tutorials in Week 10, and be worth 20% of the overall grade.
Criteria and standards
The class tests will be marked based on the appropriate applications of knowledge and skills to various types of questions, which might include multiple choice, short answer, discussion, case based and practical questions.
Submission
The diagnostic test and class test 2 will be held in Week 4 and Week 10 respectively. Please note that students MUST attend their registered tutorial to take the class tests.
Extension and penalties
No extensions will be granted. Students who have not attempted the class test will be awarded a mark of ZERO for the test, except for cases in which an application for Disruption to Studies is made and approved in which case students will be given a supplementary test.
On successful completion you will be able to:
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Understand the business environment in the context of the accounting profession.
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
Final Examination
Due: University Examination Period
Weighting: 40%
A final examination is included as an assessment task for this unit to provide assurance that: (i) learning in the unit belongs to the student; and (ii) the student has attained the knowledge and skills tested in the exam.
Students will sit a 2 hours final exam during the University Examination Period, that is worth 40% of the final grade. Information and revision for the final exam will be provided closer to the examination date. Students must pass the final exam in order to pass the unit.
Criteria and standards
The final examination will be marked based on the appropriate applications of knowledge and skills to various types of questions, which might include multiple choice, short answer, discussion, case based and practical questions.
Extension and penalties
Students who do not sit the final examination on the scheduled date and time specified in the University examination timetable will be awarded a mark of zero (0) for the final examination, except for cases in which a Disruption to Studies Notification is made and approved. If a Supplementary Examination is granted as a result of the Disruption to Studies process the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. The Supplementary Examination will be of the similar format as the final examination. A student may withdraw their Disruption to Studies Notification up to the point where the determination of whether it is Serious and Unavoidable has been made. After this determination, the student may not withdraw the Disruption to Studies Notification and must submit themselves to partake in the Supplementary Examination. Students are advised to familiarise themselves with the University’s Disruption to Studies Policy available at http://mq.edu.au/policy/docs/disruption_studies/policy.html.
On successful completion you will be able to:
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Understand the business environment in the context of the accounting profession.
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
Delivery and Resources
Main text:
- Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, L., Kirk, N. and Wong, L. (2016) 'Financial Accounting: Reporting, Analysis and Decision Making', Wiley, QLD, Australia.
Note: this text will be used in both ACCG100 and ACCG101. Students can purchase this text at the Co-op, Macquarie University.
Students will also be required to source other online material including;
- Chwastiak, M. and Young, J. (2003) "Silences in Annual Reports." Critical Perspectives on Accounting, vol.14, no.5, pp.533-552.
- Evans, E., Burritt, R. and Guthrie, J. (2015) "Future Proofing the Profession: Preparing Business Leaders and Finance Professionals for 2025." The Institute of Chartered Accountants, Sydney, Australia.
- Evans, E., Burritt, R. and Guthrie, J. (2011) "Bridging the gap between academic accounting research and professional practice." The Institute of Chartered Accountants, Sydney, Australia.
- Hines, R. (1988) "Financial accounting: in communicating reality, we construct reality." Accounting, organizations and society, vol.13, no.3, pp.251-261.
- International Accounting Education Standards Board (IAESB) @ http://www.iaesb.org/
- United Nations Global Compact @ https://www.unglobalcompact.org/
Other required material will be available to students throughout the session via iLearn.
KickStart:
This unit includes a KickStart package, designed to help you get a head start with your studies. Being well prepared can be the key to success, so be sure to take advantage of KickStart and make it work for you.
What is it?
KickStart is a package of resources and activities in iLearn that is specific to studying this unit. Your package may include welcome videos from the Unit Convenor, introductory quizzes and insights on the unit.
When is it available?
Two weeks before the start of the session, log into iLearn and access the KickStart package.
Please note that the activities in the KickStart package do not count towards the final grade of the unit.
What is required to complete this unit satisfactorily In addition to the requirements outlined in the Assessment tasks section above, including the requirement to pass the final exam to achieve a passing grade in this unit, it is expected that students in this course are independent learners who assume personal responsibility for their learning and undertake a pro-active approach to addressing any deficiencies in their understanding of the course material through independent research and inquiry and through consultations with peers and instructors as appropriate.
Unit Schedule
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Week |
Topic |
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1 |
Accounting, Accountability and Society Accounting for organisations Careers in Accounting |
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2 |
Ethics What is it and why it is important? Role of ethics in accounting Code of ethics for professional accountants |
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3 |
Financial Accounting for business: accounting cycle and double-entry accounting (including accounting assumptions) |
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4 |
Financial Accounting for business: recording transactions |
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5 |
Financial Accounting for business: adjusting entries |
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6 |
Financial Accounting for business: closing entries |
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7 |
Financial Accounting for business: Preparing and interpreting financial statements - 1 |
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Mid Session Break (19 September - 2 October)
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8 |
Financial Accounting for business: Preparing and interpreting financial statements - 2 |
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9 |
Introduction of management accounting and budgeting |
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10 |
Cost volume profit analysis |
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11 |
Sustainability: What it is and why it is important? Role of accountants Disclosure and reporting requirements |
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12 |
Professional communication in business |
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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
New Assessment Policy in effect from Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy_2016.html. For more information visit http://students.mq.edu.au/events/2016/07/19/new_assessment_policy_in_place_from_session_2/
Assessment Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/assessment/policy.html
Grading Policy prior to Session 2 2016 http://mq.edu.au/policy/docs/grading/policy.html
Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html
Complaint Management Procedure for Students and Members of the Public http://www.mq.edu.au/policy/docs/complaint_management/procedure.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.
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://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources 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
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Understand the business environment in the context of the accounting profession.
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
- Develop an ability to communicate and work effectively in teams.
Assessment tasks
- Assessed Coursework
- Case Study
- Class Tests
- 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
- Develop an understanding of the role of accounting in a social context, including a variety of contemporary accounting issues and their impact on society, and analysis of ethical appreciation and responsible judgment in decision making.
- Understand the business environment in the context of the accounting profession.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
Assessment tasks
- Assessed Coursework
- Case Study
- Class Tests
- 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
- Demonstrate elementary technical competence in accounting practice through accounting for company operations and main elements of financial statements, including recording transactions, adjusting and closing entries and preparation and communication of Financial Statements.
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
Assessment tasks
- Case Study
- Class Tests
- Final Examination
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
- Demonstrate creativity and critical thinking in challenging the traditional presentation and assumptions of accounting information for decision-making.
- Develop an ability to communicate and work effectively in teams.
Assessment tasks
- Assessed Coursework
- Case Study
- Final Examination
Research and Practice, Global and Sustainability
This unit provides students with the opportunities of engaging the current accounting research. Students will conduct their own research and apply related research findings in the case study group assignment and final exam. Also, relevant research findings are embedded in the discussion of several lecture topics (e.g., the introduction of research and ethics in accounting).
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. 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.