REQUIRED AND RECOMMENDED TEXTS AND/OR MATERIALS

Required Text:

Financial Statements Demystified by B. Kramer and C. Johnson 2009 McGraw-Hill Education.

This textbook is available to buy from the publisher as either a print book or eBook: 

• Print book:    Financial Statements Demystified, ISBN 9780071543873 available at http://www.mhprofessional.com/product.php?isbn=0071543880. 
• eBook:          Financial Statements Demystified, ISBN 9781308469089 available at https://create.mheducation.com/shop/#/catalog/details/?isbn=9781308469089

Please note that the publisher’s price may be quoted in US dollars. The text is also available from Co-op, Dymocks and other sellers. If you intend to use the print book, please allow sufficient time for delivery.

Additional Readings: 

• Additional readings are included in iLearn
• Students should assume these readings are examinable unless otherwise advised.

Assumed Knowledge: Mathematical content

• This unit requires students to perform arithmetic (add, subtract, multiply, divide), to work with exponents (raise to the power of), and to perform algebraic manipulation of simple equations. For example, given the arithmetical answer to a calculation, it is expected that you can solve for one of the inputs.
  • If 534 = 221 + X – 440, what is X?
• Additionally, this unit requires students to solve mathematical problems using spreadsheet software by coding formulas into cells in the spreadsheet. 
• Students should be familiar with financial mathematics such as simple interest and the time value of money.
  • If $200 is borrowed for 12 months at an interest rate of 6% pa to be paid monthly in arrears, how much interest is paid each month?
  • What is the effective annual interest rate?

TECHNOLOGY USED AND REQUIRED

This is an online unit which will make use of the University's iLearn system.

Unit's iLearn Site: 

• Found by logging on to iLearn ilearn.mq.edu.au, then clicking on Financial Statement Analysis and Modelling.
• Here you will find forums, downloadable resources and links to important pages. 
• The forum allows you to communicate with other students and lecturer(s) and may provide supplementary material. 
• You are requested to post your questions on the forums at least 24 hours prior to the assignment submission date or the examination date. Questions posted after that time may not be answered. Please try to not leave your questions to the last few days. 

Important Notice: 

• It is important that you familiarise yourself with the Unit’s iLearn site. 
• All students should check iLearn regularly and look for updates and distribution of materials related to the unit or assessments and participate in forum discussions. 

Assumed access to technology: Access to a computer with word processing and spreadsheet capability is assumed, as is general student computer literacy. A recent version of Excel is the preferred choice of spreadsheet.

The following schedule is a guide to the timing of each topic.

The Delivery and Resources section was updated in August 2017.

This unit guide contains important information about the Unit.  If anything is unclear, please consult one of the unit lecturers.

University Policy on Grading:

• Macquarie University’s Academic Senate has established a Grading Policy available at http://www.mq.edu.au/policy/docs/grading/policy.html. Your final result will include: 
  • A Grade ranging from Fail to High Distinction; and
  • A numerical Mark which is a summation of the individual assessment components
• It is important to note:
  • The Policy does not require that a minimum or maximum number of students are to be failed in any unit; 
  • Grades will not be allocated to fit a predetermined distribution; and
  • Grades for all individual assessment items will be released to students, but Marks may not necessarily be released.

Specific Unit Grading: 

• All final Marks and Grades in the Applied Finance Centre are determined by a grading committee and are not the sole responsibility of the unit convenor(s).
• The core criteria used to assess student work in this unit are: 
  • Knowledge and understanding: Understanding key ideas, knowledge and use of concepts.
  • Application: Ability to apply theoretical ideas and frameworks in practice and in a critically reflective way. 
  • Reasoning and analysis: Ability to analyse, use critical reasoning and principles to formulate a position, balancing theory and personal reflection. 
  • Professional literacy and research: Understanding of professional factors (language and landscape) and ability to undertake appropriate research. 
  • Communication and presentation: Ability to communicate and present effectively (written and oral, as relevant).
  • Use of mathematical and statistical ideas: Ability to use mathematical and statistical ideas, methods and formulae appropriately.
• In order to achieve the highest Marks and Grades, students must meet the required expectation at the highest level.   
• Performance in relation to each of these criteria are assessed against the University’s grading descriptors:

Review of Grade and final examination Script viewing:

• A student who has been awarded a final grade for a unit and who does not believe it is an accurate reflection of their performance, and has grounds for such a claim and can demonstrate those grounds, may apply to have their grade reviewed. 
• For information on requesting a review of grade and/or viewing your final exam script, please refer to the University’s Grade Appeal Policy at http://www.mq.edu.au/policy/docs/gradeappeal/policy.html and MAFC Program Rules & Procedures at http://www.mafc.mq.edu.au.