Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Michael Quilter
E4A309
By appointment
Lecturer
Garry Morris
By appointment
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Credit points |
Credit points
3
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Prerequisites |
Prerequisites
24cp including BBA102
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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 will introduce students to core financial and legal aspects of selecting, forming and structuring a business. By understanding the elements of financial planning, budgeting and capital raising students will be able to make commercially sound choices in relation to starting a business and comparing business structures. The unit also covers the relevant legal concepts and principles underpinning the regulation of business. Students will be introduced to the legal frameworks and issues relevant to different types of business structures and develop an awareness of corporate management responsibilities. The regulation of the operational aspects of a business will also be considered. At the conclusion of the unit students will have had an opportunity to gain a valuable perspective on commencing and running business operations.
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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 |
---|---|---|
Class Test - Law 1 | 20% | 16/8/2016 |
Class Test - Law 2 | 30% | 6/9/2016 |
Assignment - Finance | 20% | 25/10/2016 by 9am |
Class Test - Finance | 30% | 1/11/2016 |
Due: 16/8/2016
Weighting: 20%
This test will be held in class on 16/8/2016 - see Assessment Guide on iLearn for more information
Due: 6/9/2016
Weighting: 30%
This test will be held in class on 6/9/2016.
See Assessment Guide on iLearn for more information.
Due: 25/10/2016 by 9am
Weighting: 20%
This assignment must be submitted via iLearn/Turnitin by 9am 25/10/2016. No extensions will be granted. There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for disruption to studies is made and approved.
See Assessment Guide on iLearn for more information.
Due: 1/11/2016
Weighting: 30%
This test will be held in class on 1/11/2016.
See Assessment Guide on iLearn for more information.
Classes will progress through the various Lecture Areas referred to in this Unit Guide. Students will attend one seminar (time allotted 3 hours) each week. There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment and unit structure. Note that together with the designated practice questions, the classes may cover other issues relevant to the unit.
The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
Required and Recommended Texts and/or Materials
Law - Quilter, Company Law Perspectives, 2nd ed. 2014, Thomson Reuters (Lawbook Co.)
Finance - Berk, J., DeMarzo P., Harford J., Ford, G., Mollica, V. and Finch, N., Fundamentals of Corporate Finance, 2nd Australian Edition, 2014, Pearson Australia,
Both of the above texts can be purchased from the Macquarie University Co-op Bookshop, and are available in the Macquarie University library.
Seminars may make use of PowerPoint; overhead projectors; visualisers.
Unit material will be available on the learning management system (iLearn)
There is a web page for this unit.
This unit is taught by way of seminars. Practice questions are discussed to enable application of content.
Students should take responsibility for their own learning and this will incorporate reading as required, attendance at seminars, developing effective study strategies, reflection on their abilities, and a task oriented approach to assessment – that is, do not think solely about gathering information - think about what will be required - what makes for successful performance in tests and assignments - how you will use the material you have studied.
Students should be ready to allocate at least 150 hours during session time for FOBE202. This includes all classes, assessment, personal study and other learning activities. Here is a sample breakdown of a student workload:
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Activities
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Hours |
1 |
Weekly Seminars including required assessment (3×12) |
36 |
2 |
Assessment Task 1 and 2 (self-study plus preparation) |
57 |
3 |
Assessment Task 3 and 4 (Self-study plus preparation) |
57 |
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Total |
150 |
This Unit has a Law component and a Finance component
LAW
Law text: Quilter, Company Law Perspectives, Thomson Reuters (Lawbook Co.) 2nd ed. 2014 [referred to herein as "Q"]
Week1 – Law
Legal system
Litigation; Tort; Contract; Consumer Law (Q Ch. 31); Intellectual Property; Agency (Q Ch. 1)
Week 2 – Law
Comparison of business organisations
Corporate legislative framework, registration and types of companies
Partnership Act: www.austlii.edu.au/au/legis/nsw/consol_act/pa1892154/
Associations; Sole Proprietors; Partnerships: Q Ch. 2
Applying for registration and the consequences of incorporation: Q Ch. 5
Types of Companies: Q Ch. 4
Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/
Week 3 – Law
Class Test (Law 1)
The company constitution
Fundraising
Disclosure to Investors – fundraising: Q Ch. 11
Share capital: Q Ch. 12
Debentures and Loan Capital: Q Ch. 14
The company constitution and the replaceable rules: Q Ch. 6
Promoters and pre-registration contracts: Q Ch. 9
Week 4 – Law
Directors and Management
Duties of directors and other officers: Q Ch. 15, 16, 17, 18
Financial and Reporting Obligations of Directors: Q Ch. 19
Week 5 – Law
Insolvency – Corporate and Personal
Arrangements and Reconstructions; Receivership; Voluntary Administration:
Q Ch. 26, 27, 28 and 29
Bankruptcy
Liquidation - Insolvent trading: Q Ch. 30
Week 6 – Law
Class Test (Law 2)
FINANCE
Finance Text: Berk, J., DeMarzo P., Harford J., Ford, G., Mollica, V. and Finch, N., 2014. Fundamentals of Corporate Finance, 2nd Australian Edition, Pearson Australia, Frenchs Forest, Australia. ISBN 9781442564060 (referred to herein as ‘Berk’)
Week 7 - Finance
Introduction to Corporate Finance
Berk Ch. 1 and 2
MID-SESSION BREAK
Week 8 – Finance
Time Value of Money
Berk Ch. 3, 4 and 5
Week 9 – Finance
Investment Decisions
Berk Ch. 8 and 9
Week 10 – Finance
Bond and Share Valuations
Berk Ch. 6, 7 and 10
Week 11 – Finance - Submit Finance Assignment
Raising Funds
Berk Ch. 14, 15 and 16
Week 12 – Finance
Class Test (Finance)
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.
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/
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.
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
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.
The University is committed to equity and fairness in all aspects of its learning and teaching. It recognises that students may experience disruptions that adversely affect their academic performance in assessment activities. To assist students through their studies, the University provides support services. Whilst advice and recommendations may be made to a student, it is ultimately the student’s responsibility to access these services as appropriate.
http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
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://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.
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:
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:
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:
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:
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.
The unit materials provide some guidance to references that could be used to research particular issues.
Both texts for this unit (Company Law Perspectives and Fundamentals of Corporate Finance) are the result of research in relation to the area of company law. The material in these texts provides you with a thorough coverage of the relevant issues. Interested students can pursue further research into any of the areas of this unit via the various scholarly journals available. Examples of journals that can be consulted to follow up matters of interest in company law are: Australian Journal of Corporate Law; Company and Securities Law Journal.