Students

ACCG611 – Principles of Accounting

2014 – S2 External

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Colly He
Contact via accg611@mq.edu.au
E4A 215A
Credit points Credit points
4
Prerequisites Prerequisites
Admission to MAcc(CPA) or MAcc(Prof) or MCom or MEc or MIntBus or MAcc(Prof)MCom or MBioTechMCom or MIntBusMIntComm or MIntBusMIntRel
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This unit provides students with a graduate-level understanding of accounting as a business process to record, measure, classify and report relevant economic, financial and other related information and transactions for use by a variety of stakeholders. Students completing the unit are expected to be able to prepare, analyse and discuss financial reports in various business contexts. Seminars cover the core aspects of the preparation and basic analyses of financial statements and the underlying policies and principles.

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;
  • explain underlying accounting concepts and account for business operations;
  • apply underlying accounting concepts to the recording process and to the reporting of financial information;
  • analyze financial position and financial performance of a business based on the information given;
  • review business operations and accounting process, and provide recommendations;
  • practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.

Assessment Tasks

Name Weighting Due
Assessed Coursework 10% weekly
Quizzes 20% weeks 5 & 9
Assignment 20% week 11
Final Examination 50% Examination period

Assessed Coursework

Due: weekly
Weighting: 10%

Discussion questions will be posted onto the online discussion forum weekly. Students are required to participate in the forum discussion actively.

Submission

Students are required to participate in the weekly online forum discussion.

Extension

No extensions will be granted. Students who have not participated in the weekly discussion will be awarded a mark of 0 for the task, except for cases in which an application for Disruption to Studies is made and approved.
On successful completion you will be able to:
  • identify users of financial information and the use of the information for decision making in business;
  • explain underlying accounting concepts and account for business operations;
  • apply underlying accounting concepts to the recording process and to the reporting of financial information;
  • practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.

Quizzes

Due: weeks 5 & 9
Weighting: 20%

Students are required to attempt two online quizzes. The quiz weights 10% each. Detail information about online quizzes will be released on iLearn.

Submission

Submit online at the desingated times.

Extension

No extensions will be granted. Students who have not attempted the quizzes 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 quiz. Students who are absent from the first online quiz will increase the weighting on the second online quiz and vice versa if an application for Disruption to Studies is made and approved. Students who miss both quizzes will shift the assessment percentage to Assessed Coursework and Assignment evenly if an application for Discruption to Studies is made and approved.
On successful completion you will be able to:
  • identify users of financial information and the use of the information for decision making in business;
  • explain underlying accounting concepts and account for business operations;
  • apply underlying accounting concepts to the recording process and to the reporting of financial information;
  • analyze financial position and financial performance of a business based on the information given;
  • review business operations and accounting process, and provide recommendations;
  • practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.

Assignment

Due: week 11
Weighting: 20%

The assignment is an online accounting practice set assignment providing each student with a unique accounting scenario and therefore must be completed on an individual basis. The practice set assignment is a major learning activity, taking up to 20 study hours to complete over a number of days or weeks.

Submission

Submit online

Extension

No extensions will be granted. Students who have not submitted the practice set prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for Disruption to Studies is made and approved.
On successful completion you will be able to:
  • identify users of financial information and the use of the information for decision making in business;
  • explain underlying accounting concepts and account for business operations;
  • apply underlying accounting concepts to the recording process and to the reporting of financial information;

Final Examination

Due: Examination period
Weighting: 50%

Submission

A final examination for this unit will be held during the University Examination period. It is an open book 3 hour exam. More information will be released in the revision lecture in week 13.

The University Examination period in Session 2 2014 is from 17 November to 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. http://students.mq.edu.au/student_admin/exams/

Grade

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.

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. If a Supplementary Examination is granted as a result of the Disruption to Studies process the examination will be scheduled after the conclusion of the official examination period. Please note that the supplementary examination will be of 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.html

Supplementary examination information for session 2 2014 is available at: http://www.businessandeconomics.mq.edu.au/current_students/undergraduate/how_do_i/disruption_to_studies

The supplementary exam will be held in January, 2015 (TBC).
On successful completion you will be able to:
  • explain underlying accounting concepts and account for business operations;
  • apply underlying accounting concepts to the recording process and to the reporting of financial information;
  • analyze financial position and financial performance of a business based on the information given;
  • review business operations and accounting process, and provide recommendations;
  • practice generic skills that are required within a professional accounting environment. These skills include communication, comprehension and problem solving.

Delivery and Resources

Classes

The unit is a online unit. Learning materials will be uploaded to iLearn every week. You will be able to download lectures, register for discussion forums and complete your course activities ALL online.  

Consultation

We provide face-to-face consultation every week starting from week 3.

 

Session 1

Session 2

Week 3

Wednesday 11am - 12pm

E4A 319

9850 8539

Thursday 1:45 – 2:45pm

E4A 218B

9850 4836

Week 4

Week 5

Week 6

Week 7

Week 8

Wednesday 1 - 2pm

E4A 218B

9850 4836

Friday 12 - 1pm

E4A 218B

9850 4836

Week 9

Week 10

Week 11

Week 12

Week 13

E4A 215A

9850 8520

Time to be confirmed

 

 

Week 14

 

 

 

 

 

 

 

 

 

 

 

 

 

Required and Recommended Texts and/or Materials

Textbook

Hoggett J., Edwards, L., Medlin, J. and Tilling, M. (2012), Accounting, 8th edition, John Wiley and Sons Australia

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.

There are two purchase options:

(1) Binder Ready Version (BRV)

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 the chapters they require at a time and can add in other notes to their folders.

(2) The BRV + WileyPLUS

Note that WileyPlus is not a required learning material in ACCG 611. Yet, it is possible for students to use WileyPlus on their own as a revision tool. Students who purchase WileyPLUS can use the following link to access http://wpadmin.wileyplus.com/edugen/secure/student/index-mwp.uni

Please note that E-book is not allowed in ACCG 611.

Online practice set assignment

Technology boutique practice set assignment (provided by Perdisco)

Unit Web Page

Course materials are available on the learning management system (iLearn)

Technology Used and Required

In this unit, students require computer technology sufficient to regularly access the unit iLearn webpage via the internet and to complete the online practice set.

Unit Schedule

Unit Schedule

Week

Commencing

Lecture Topic

Textbook

Chapter

Homework questions to

be completed

1

4 Aug

Introduction to Accounting

1

2 (pp 28-40)

  

2

11 Aug

Recording Transactions

2 (pp 41-45)

3

Ch1: DQ 1, 2

Ch2: DQ 3, 5,

Ex 2.7

Pro 2.3, 2.5

3

18 Aug

(Access available for online practice set)

Adjusting Entries &

Preparing Financial Statements

4 (pp 122-147)

  Ch2:  Pro 2.4, 2.6

Ch3: Ex 3.10

Pro 3.4, 3.11

 

4

25 Aug

Completing the Accounting Cycle

4 (pp 148-155)

5

Ch 4: DQ 2, 7

Ex 4.3, 4.7

Pro 4.4, 4.14

 

5

1 Sep

Online Quiz 1

Accounting System (Not Including QuickBooks & MYOB)

7

Ch 4: Pro 4.8

Ch 5: DQ 7, 8

Ex 5.8

Pro 5.4, 5.11

 

6

8 Sep

Accounting for Retailing

6

Ch 7: DQ 2

Ex 7.2, 7.12

Pro 7.8 (part A), 7.13

7

15 Sep

Accounting for Inventory

19

Ch 6: DQ 4, 8

Ex 6.5, 6.7

Pro 6.4 (Part B,C,D),

Pro 6.5 (Part B,C,D) (Note: the selling price of lamp is $60 each, not $70), 6.13

                                                                                                  Mid-semester Break

                                                                                                 22 Sep – 6 Oct, 2014

8

 

7 Oct

Cash Management and Control

10

Ch 19: DQ 8, 9

Ex 19.3, 19.6

Pro: 19.7, 19.8, 19.11

9

13 Oct

Online Quiz 2

Accounting for Receivables

18 (pp 748-763)

Ch 10: DQ 3, 7

Ex 10.9, 10.10

Pro 10.8, 10.10

10

20 Oct

Accounting for Depreciation I

20 (pp 828-841)

Ch 18: DQ 5, 6

Ex 18.3, 18.5

Pro 18.5, 18.11

11

27 Oct

(Practice set submission by 11:59pm 31Oct)

Accounting for Depreciation II &

Accounting for Partnerships I

20 (pp 841-848)

21 (pp 874-876)

15

 

Ch 20: DQ 5, 9

Ex 20.7, 20.10

 

 

12

3 Nov

Accounting for partnerships II

 

15

Additional reading materials

Pro 20.8, 20.12

Ch 21: Ex 21.11

Ch 15: DQ 2, 8

 

13

10 Nov

Revision

 

Ex 15.2, 15.9

Pro 15.6, 15.9, 15.12

Additional reading materials:

Pro 13.4, 13.5

 

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/

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://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.

Research & Practice

The findings of research studies in relation to some topics will be discussed briefly during the session. Students are encouraged to use library resources to go beyond the prescribed text in understanding the concepts taught in this unit and to complete their assessment tasks.

Changes since First Published

Date Description
16/01/2014 The Prerequisites was updated.