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WACC1000 – Accounting in Society

2020 – MUIC term 1, Weekday attendance, North Ryde

Coronavirus (COVID-19) Update

Due to the Coronavirus (COVID-19) pandemic, any references to assessment tasks and on-campus delivery may no longer be up-to-date on this page.

Students should consult iLearn for revised unit information.

Find out more about the Coronavirus (COVID-19) and potential impacts staff and students

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Teacher
Carin Hurwitz
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Macquarie University International College
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Teacher
Tharwat Andrawis
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Macquarie University International College
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Teacher
Asha Sekar
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Macquarie University International College
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Credit points Credit points
10
Prerequisites Prerequisites
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This Unit focuses on the role of accounting and the accounting profession in society. By exploring and discovering diverse accountability frameworks, students will learn to appreciate the role accounting plays. The Unit aims to introduce basic accounting terminology, concepts and methods. Students are provided with an opportunity to discuss evolving means of information preparation. Emphasis is given to the development of an understanding of how such information assists users when making important business decisions. The role of accounting stewardship is explored to raise students' awareness of social, environmental and ethical concerns in an attempt to develop well-rounded business professionals. The Unit develops discipline specific knowledge, professional judgment and effective communication skills and their application to problem solving.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://students.mq.edu.au/important-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Define and examine the role of accounting in a contemporary social context with a focus on business ethics and responsible management.
  • ULO2: Describe the business environment of the accounting profession.
  • ULO4: Examine the traditional aspects of accounting for business decision-making.
  • ULO3: Develop competences in key technical aspects in accounting practice.
  • ULO5: Communicate effectively in written and spoken form.

Assessment Tasks

Coronavirus (COVID-19) Update

Assessment details are no longer provided here as a result of changes due to the Coronavirus (COVID-19) pandemic.

Students should consult iLearn for revised unit information.

Find out more about the Coronavirus (COVID-19) and potential impacts staff and students

Delivery and Resources

Coronavirus (COVID-19) Update

Any references to on-campus delivery below may no longer be relevant due to COVID-19.

Please check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status

Term Dates & College Calendar

Details of key dates during the term can be found on the Important Dates calendar.

Enrolment and Timetables

General timetable information is available via Macquarie University's Timetable page. 

Students will be able to enrol in units and register for classes via eStudent and also view their personal timetable. It is the student’s responsibility to ensure that classes they have registered for do not clash.

Students are only permitted to attend classes in which they have registered via eStudent, unless they have written approval from the Student Services Manager. To seek approval, students must email muic-elc.admin@mq.edu.au or speak to a member of the Student Administration and Services Team at The College Student Desk (Ground floor, 8 Sir Christopher Ondaatje Avenue). Approval will only be granted in exceptional circumstances.

The last day to enrol, add or change units is Tuesday of Week 1. Changing groups is not possible after the enrolment period has concluded.

Guest Lecturer Presentations and Workshops

One or two Guest Lecturer presentations and/or workshops may be scheduled during the term. These sessions will take place outside of regular class time, usually in a lecture theatre on campus. In the session, a speaker (an expert or well-known academic in the field) will give a presentation on a particular topic related to the unit or field.

While attendance at guest lectures is not compulsory, and content covered is not examinable unless covered in regular classes, students are strongly encouraged to attend these sessions as they will:

  • help them to engage with and broaden their understanding of the discipline;
  • contextualise content covered in class by providing insights into recent research and workplace developments in the field;
  • provide opportunities for networking; and
  • provide experience of what lectures are like.

Specific details including time and venue for Guest Lecturer presentations and workshops will be posted in iLearn announcements and provided in class.

Recordings of these sessions may also be made available to students via iLearn.

Attendance Requirements – All Students

All students are expected to attend 100% of scheduled class time.

Attendance will be monitored in each lesson & students will be able to see their current attendance percentage to date and potential attendance percentage for each unit they have enrolled in via iLearn.

  • Current Attendance Percentage will reflect the percentage of classes a student has attended so far (based only on the lessons held to date).
  • Potential Attendance Percentage will reflect the percentage of classes a student can potentially attend by the end of the term, taking into consideration lessons attended and assuming the student also attends all future lessons scheduled (based only on the total number of lessons in the Term).

When a student is present for a part of a lesson (for example arrives late, leaves early, leaves the class frequently, particularly for lengthy periods), the teacher reserves the right to mark a student absent for that part of the lesson.

Public Holidays and Make-up Lessons

If any scheduled class falls on a public holiday, a make-up lesson will be scheduled, either online or face to face. Please check the iLearn announcements and your emails for details of the make-up lessons.

In Term 1, there will be no public holidays.

Technology Used and Required

  • Access to internet (available on Campus using Macquarie OneNet and in designated 8SCO Self-Access Computer Laboratories);
  • iLab - iLab is Macquarie University's personal computer laboratory on the Internet. It enables students to use the Microsoft Windows applications they require to do their university work from anywhere, anytime, on any device;
  • Access to Macquarie University Library catalogue (MultiSearch); and
  • Access to Microsoft Office Suite (available in 8SCO Self-Access Computer Laboratories and via iLab) software downloads page for full instructions.

Bringing Your Own Device (BYOD)

Macquarie University is BYOD (Bring Your Own Device) friendly and encourages students to bring their Windows or Mac devices to use on campus and during classes.

In some classes in this unit, you will need to have access to a mobile device, Office applications (Word, Excel and PowerPoint) and an Internet Browser of your choice. If you do not have your own device and computer access is required in a particular lesson, you may be able to borrow a laptop to use for the duration of the lesson.

As a Macquarie University student, you are entitled to free access to the Microsoft Office Suite, which you can access through iLab. If you have problems with this, please contact OneHelp.

If you do bring your own device, you will need to ensure that it is sufficiently charged as access to power points may not be available in the classrooms.

iLearn

iLearn is Macquarie's online learning management system and a principal teaching and learning resource which will be used throughout the term. Students must log in to iLearn at least 3 times per week to access important information including: 

  • Announcements and News Forums - Teaching staff will communicate to the class using iLearn announcements. Announcements may also be emailed to students’ Macquarie University email address, but students should also check the News Forum regularly;
  • Attendance – current and potential attendance percentage for the Term;
  • Unit Guide and staff contact details;
  • Set unit readings available through MultiSearch (library);
  • Lesson materials and recordings where available;
  • Learning and teaching activities and resources, questions and solutions;
  • Assessment instructions, questions, marking criteria and sample tasks;
  • Assessment submission links such as Turnitin;
  • Links to support materials and services available at the University; and
  • Evaluation Surveys for the unit.

For any resource related iLearn questions contact your teacher. For any technical or support issues using iLearn, please contact the IT helpdesk (Ph. 02 9850 4357) or lodge a ticket using OneHelp

Useful Study Resources

StudyWise is an iLearn resource created by the Learning Skills Unit. This resource is specifically designed to help you to manage your studies, strengthen your study techniques, write effective assignments and improve your English language proficiency. Once you enrol in StudyWise, you can access it from your iLearn course list under the category "Student Support".

InfoWise will help you improve your research skills by teaching you how to use MultiSearch, decode citations, identify key search terms and use advanced search techniques.

Lib Guides provide students with links to electronic sources and websites that are good starting points for research in different fields or disciplines.

MultiSearch will connect you to Macquarie University Library and allow you to search library resources, databases, unit readings and past exam papers.

Macquarie University Library has released a mobile device app called libMQ. The app allows students to easily access MyLibrary (be notified about loans, renewals, holds and fees owing), book a computer, Library floor maps, see new books lists and search MultiSearch.

It can be downloaded from either Google Play or the App store.

Academic Language and Learning Workshops are designed to help you with Study Skills, Assignment Writing, Referencing and Academic Language.

Research resources provide information about:

Numeracy Support is provided by the Numeracy Centre. Students can attend these support classes on a drop-in basis as required.

Studiosity is a one-to-one personal study support service which may be made available via your iLearn unit. If available, you may use this service to get online study help and/or feedback on your assignment usually within 24 hours. If you are unsure whether this service is available in your unit or how to use this service, please check with your teacher. Please note that this is an external service and feedback provided is generic in nature (for example comments on grammar and cohesion) and may not be specific to the requirements of the task. If you require specific feedback on how your work aligns with the expectations of the unit or marking criteria, you should consult your teacher.

Unit Schedule

Coronavirus (COVID-19) Update

The unit schedule/topics and any references to on-campus delivery below may no longer be relevant due to COVID-19. Please consult iLearn for latest details, and check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status

Week

Topics and Chapters

Assessment Task

1

An Introduction to Accounting

Financial Statements

The Role of Ethics in Accounting

 

2

Accounting for Transactions

Recording Transactions

Posting Entries and Trial Balance

PRE-CENSUS FEEDBACK

Case Study

3

Adjusting Entries

Adjusted Trial Balance and Worksheet

Closing Entries and Post Closing Trial Balance

 

4

The Accounting Cycle (Revision)

Revision session for the Class Test

Preparing and Interpreting Financial Statements

Class Test

5

Introduction to management accounting & budgeting

Cost-volume-profit (CVP) analysis

Introduction to Budgeting

 

6

An introduction to accountability and sustainability

Revision session for the Final Exam

Presentation

There will be a revision session that will be held on Monday of Week 7.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/study/getting-started/student-conduct​

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@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 Enquiry Service

For all student enquiries, visit Student Connect at ask.mq.edu.au

If you are a Global MBA student contact globalmba.support@mq.edu.au

Equity 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.

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.

Course Contact Hours

Weekly face-to-face contact for this unit will be 6 hours (36 hours per term).

There will be 3 lessons per week consisting of two-hour lessons. 

Learning and Teaching Activities

Lessons

Lessons will include a mixture of activities. New content and topics will be presented during lessons, and students will be given problems, practice questions and other interactive activities to apply the knowledge and the skills gained in the lesson. Students will be required to take notes, complete set tasks and engage in discussions and individual and group activities.

In class, specific time may be dedicated to work on assessment tasks and students will be given guidance and feedback to complete these. Certain lessons may be dedicated to independent research and reading related to the unit whether in the classroom or a computer lab.

Active Participation

Students will be required to not only attend but also actively participate in lessons.

Active participation entails:

  • active engagement in class activities;
  • contribution to class discussions by asking and answering questions;
  • coming to class prepared and having completed required pre-readings and activities;
  • completion of set class and homework activities;
  • collaboration with other students; and
  • adhering to Macquarie University’s Student Code of Conduct.

Unit Specific Texts and Materials

The following text has been prescribed for this unit:

  • Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, L., Kirk, N. and Wong, L. (2019). Financial Accounting: Reporting, Analysis and Decision Making. 6th edition, John Wiley & Sons, Milton, Australia.  e-Text ISBN : 9780730356141.

The text will be available for purchase from the Co-Op Bookshop located in the C7A MUSE Building - 18 Wally's Walk, Phone: 8986 4000 or online at https://www.wileydirect.com.au/buy/financial-accounting-reporting-analysis-and-decision-making-6th-edition/

This text is available in both hard copy and e-text formats.

All students should ensure that they have access to the prescribed text from the start of the Term as failure to do so could jeopardise their academic progress in this unit.

Other editions or formats of the above resource may be acceptable, but  students must consult teaching staff prior to purchasing these. 

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/

Changes since First Published

Date Description
30/01/2020 Teaching staff on the unit have been updated.