Students
ACCG6011 – Principles of Accounting
2020 – Session 2, Special circumstance
Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group learning activities on campus for the second half-year, while keeping an online version available for those students unable to return or those who choose to continue their studies online.
To check the availability of face to face activities for your unit, please go to timetable viewer. To check detailed information on unit assessments visit your unit's iLearn space or consult your unit convenor.
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convener
Colly He
Contact via Email
Lecturer
Kym Butcher
Contact via Email
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|---|---|
| Credit points |
Credit points
10
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| Prerequisites |
Prerequisites
Admission to MAccg or MAccLead or MBioBus or MCom or MIntBus or GradCertForAccg or GradDipForAccg or MForAccgFinCri or MProfAcc or MProfAccgLead or MBusAnalytics
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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 provides students with a graduate-level understanding of accounting as a business process of recording, measuring, classifying and reporting economic, financial and other related information and transactions for use by a variety of stakeholders. Students completing this unit are expected to be able to prepare, analyse and discuss financial reports in various business contexts. Classes cover the core aspects of the preparation and basic analysis of financial statements and the underlying accounting 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:
- ULO1: Explain the purpose of accounting and accounting processes and appreciate the role of accounting in business sustainability and ethical decision making.
- ULO2: Identify, record and process business transactions in the accounting system and report their effect by preparing structured financial statements.
- ULO3: Undertake basic analysis of the financial statements of organisations, through ratio analysis.
- ULO4: Explain the value of internal control and management’s responsibility in relation to it and apply internal control principles to the sales and purchases cycles and the cash guarding procedure.
- ULO5: Calculate and describe the use of cost–volume–profit (CVP) analysis in management decision making.
General Assessment Information
Assessed Coursework
- Students are required to have completed the assigned homework and submit them via iLearn on a weekly basis. Homework will be randomly assessed three times during the session commencing in Week 2. Each homework will be marked out of 2. Marks will be assigned on the basis of both completeness and accuracy.
- No extensions will be granted.
Online Quiz/Test
- The two online quizzes will be a 30-minute online multiple-choice test at the end of Week 4 and Week 7. Each of the quizzes is weighted 10% and will serve as an early diagnostic indicator of student performance.
- The online test will be held in Week 10. The test will be weighted 20% and be of 1 hour and 20 minutes in duration. Detailed information about the online test will be released on iLearn.
Final Exam
- 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.
- Students will be awarded one of these grades. 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 Convenor. The final grade awarded reflects the corresponding grade descriptor in the Grading Policy.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Final examination | 50% | No | During examination period |
| Quiz/Test | 40% | No | Week 4, 7, & 10 |
| Assessed Coursework | 10% | No | Weekly |
Final examination
Assessment Type 1: Examination
Indicative Time on Task 2: 15 hours
Due: During examination period
Weighting: 50%
A 2-hour online final examination for this unit will be held during the University Examination period. Students are expected to access the exam online at the time designated in the University examination Timetable.
On successful completion you will be able to:
- Explain the purpose of accounting and accounting processes and appreciate the role of accounting in business sustainability and ethical decision making.
- Identify, record and process business transactions in the accounting system and report their effect by preparing structured financial statements.
- Undertake basic analysis of the financial statements of organisations, through ratio analysis.
- Explain the value of internal control and management’s responsibility in relation to it and apply internal control principles to the sales and purchases cycles and the cash guarding procedure.
- Calculate and describe the use of cost–volume–profit (CVP) analysis in management decision making.
Quiz/Test
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Week 4, 7, & 10
Weighting: 40%
Students are required to attempt two (2) online multiple-choice quizzes (worth 10% each) and one (1) online test comprising of multiple choice and short answer questions (worth 20%).
On successful completion you will be able to:
- Explain the purpose of accounting and accounting processes and appreciate the role of accounting in business sustainability and ethical decision making.
- Identify, record and process business transactions in the accounting system and report their effect by preparing structured financial statements.
- Undertake basic analysis of the financial statements of organisations, through ratio analysis.
- Explain the value of internal control and management’s responsibility in relation to it and apply internal control principles to the sales and purchases cycles and the cash guarding procedure.
- Calculate and describe the use of cost–volume–profit (CVP) analysis in management decision making.
Assessed Coursework
Assessment Type 1: Participatory task
Indicative Time on Task 2: 26 hours
Due: Weekly
Weighting: 10%
Students will be given homework questions to complete on a weekly basis. Students are expected to have completed the assigned homework questions and to submit them via iLearn as these will be randomly marked three (3) times during the session. Marks for this task are assigned on the basis of both completeness and accuracy.
On successful completion you will be able to:
- Explain the purpose of accounting and accounting processes and appreciate the role of accounting in business sustainability and ethical decision making.
- Identify, record and process business transactions in the accounting system and report their effect by preparing structured financial statements.
- Undertake basic analysis of the financial statements of organisations, through ratio analysis.
- Explain the value of internal control and management’s responsibility in relation to it and apply internal control principles to the sales and purchases cycles and the cash guarding procedure.
- Calculate and describe the use of cost–volume–profit (CVP) analysis in management decision making.
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Required Text:
- Shirley Carlon, Rosina McAlpine, Chrisann Lee, Lorena Mitrione, Ngaire Kirk, Lily Wong (2019). Financial Accounting: Reporting, Analysis and Decision Making, 6th Edition, Wiley, QLD, Australia. ISBN: 9780730363279, 9780730356141
- The prescribed textbook can be purchased directly from the Co-op Bookshop on campus or online via the following link: https://www.wileydirect.com.au/buy/financial-accounting-reporting-analysis-and-decision-making-6th-edition/
- In addition, copies of the textbook are available in the reserve section of the library.
Classes:
- The unit has 3 hours of teaching per week including a 1-hour lecture and a 2-hour workshop.
- The timetable for classes can be found on the University website at: http://www.timetables.mq.edu.au/
Unit Schedule
|
Week |
Topic |
Note |
|
1 |
An overview of accounting and the role of ethics and sustainability in accounting |
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|
2 |
The recording process |
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3 |
Accrual accounting concepts |
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4 |
Account receivable |
Online Quiz |
|
5 |
Non-current assets |
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6 |
Preparing financial statements |
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7 |
Internal control and reconciliations |
Online Quiz |
|
8 |
Inventories |
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9 |
Liabilities and equity |
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10 |
Financial ratio analysis (1) |
Online Test |
|
11 |
Statement of cash flows |
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12 |
Financial ratio analysis (2) / Cost-volume-profit relationships |
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13 |
Review Week |
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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:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Grade Appeal Policy
- Complaint Management Procedure for Students and Members of the Public
- Special Consideration Policy (Note: The Special Consideration Policy is effective from 4 December 2017 and replaces the Disruption to Studies Policy.)
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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact globalmba.support@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.
Changes since First Published
| Date | Description |
|---|---|
| 22/07/2020 | There is a change in the teaching staff. |