ACCG2002 – Finance and Regulation for New Ventures

2021 – Session 2, Special circumstances

Session 2 Learning and Teaching Update

The decision has been made to conduct study online for the remainder of Session 2 for all units WITHOUT mandatory on-campus learning activities. Exams for Session 2 will also be online where possible to do so.

This is due to the extension of the lockdown orders and to provide certainty around arrangements for the remainder of Session 2. We hope to return to campus beyond Session 2 as soon as it is safe and appropriate to do so.

Some classes/teaching activities cannot be moved online and must be taught on campus. You should already know if you are in one of these classes/teaching activities and your unit convenor will provide you with more information via iLearn. If you want to confirm, see the list of units with mandatory on-campus classes/teaching activities.

Visit the MQ COVID-19 information page for more detail.

General Information

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Unit convenor and teaching staff	Unit convenor and teaching staff Lecturer Mark Abraham mark.abraham@mq.edu.au Lecturer Robert Kramer robert.kramer@mq.edu.au
Credit points	Credit points 10
Prerequisites	Prerequisites 50cp at 1000 level or above including BBA102 or MGMT1002
Corequisites	Corequisites
Co-badged status	Co-badged status
Unit description	Unit description This unit will introduce students to core financial and legal aspects of selecting, forming, structuring and running a business. Students will develop an understanding of relevant legal concepts and principles underpinning the regulation of business including corporate management responsibilities. By exposure to key aspects 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. At the conclusion of the unit students will have gained a valuable perspective on commencing and running business operations and will have developed an understanding of the planning and financing of a business venture.

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: Identify key aspects of the commercial legal environment and the Australian corporate legislative framework and distinguish the legal characteristics of differing business organisations.
ULO2: Recognise features of corporate functionality and management issues, including the role and obligations of directors and insolvency regulation.
ULO3: Apply investment and financing concepts to business decisions and critically evaluate financial viability including an exploration of financial models, forecasting capital expenditures, working capital needs and financing events.
ULO4: Analyse sources of funding and financing needs.

General Assessment Information

Late submissions of assignments

Sometimes unavoidable circumstances occur that might prevent you from submitting an assignment on time and, in that case, you may be eligible to lodge a Special Consideration request.

Unless a Special Consideration request has been submitted and approved, please note that no extensions to assignment deadlines will be granted. Assignments that are submitted late will attract a late penalty:

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.
No assignment will be accepted more than 72 hours after the due date and time (incl. weekends) after the original due date.
No late submissions will be accepted for timed assessments (e.g., quizzes, online tests) or for tasks with a weighting of 10% or less of the total unit assessment.

The information provided in this Unit Guide may be amended with additional or updated information and detail in relation to assessment and the unit generally. Any updates will be available on iLearn.

Assessment Tasks

Name	Weighting	Hurdle	Due
Online Quiz – Law	20%	No	Week 3
Assignment - Law	20%	No	Week 6
Assignment - Finance	40%	No	Week 12
Online Quiz - Finance	20%	No	Week 13

Online Quiz – Law

Assessment Type ¹: Quiz/Test
Indicative Time on Task ²: 15 hours
Due: Week 3
Weighting: 20%

The online quiz will be administered via iLearn during the first half of the session.

On successful completion you will be able to:

Identify key aspects of the commercial legal environment and the Australian corporate legislative framework and distinguish the legal characteristics of differing business organisations.

Assignment - Law

Assessment Type ¹: Essay
Indicative Time on Task ²: 20 hours
Due: Week 6
Weighting: 20%

In this assessment students will be required to critically reflect on the key issues and principles of corporate functionality and management issues, including the role and obligations of directors and insolvency regulation. The submission should not exceed 1,000 words.

On successful completion you will be able to:

Identify key aspects of the commercial legal environment and the Australian corporate legislative framework and distinguish the legal characteristics of differing business organisations.
Recognise features of corporate functionality and management issues, including the role and obligations of directors and insolvency regulation.

Assignment - Finance

Assessment Type ¹: Practice-based task
Indicative Time on Task ²: 40 hours
Due: Week 12
Weighting: 40%

This task requires students to prepare a business plan in relation to specific instructions. The business plan should not exceed 2,500 words excluding financial tables.

On successful completion you will be able to:

Apply investment and financing concepts to business decisions and critically evaluate financial viability including an exploration of financial models, forecasting capital expenditures, working capital needs and financing events.
Analyse sources of funding and financing needs.

Online Quiz - Finance

Assessment Type ¹: Quiz/Test
Indicative Time on Task ²: 15 hours
Due: Week 13
Weighting: 20%

The online quiz will be administered via iLearn during the second half of the session.

On successful completion you will be able to:

Apply investment and financing concepts to business decisions and critically evaluate financial viability including an exploration of financial models, forecasting capital expenditures, working capital needs and financing events.
Analyse sources of funding and financing needs.

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

Classes will progress through the various Lecture Areas referred to in this Unit Guide. There may be some reorganisation, overlapping, and/or integration of areas to accommodate assessment and unit structure. The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/.

Required Texts

Law Text: Quilter, Company Law Perspectives, 4th ed. 2020, Thomson Reuters (Lawbook Co.) – [referred to as CLP 4th ed]. CLP 4th ed will be available in the Macquarie University library. It can be purchased directly from the publishers Thomson Reuters via their website:

https://legal.thomsonreuters.com.au/student/university/macquarie/

Finance Text: Berk, J., DeMarzo P., Harford J., Ford, G., and Mollica, V., Fundamentals of Corporate Finance, 3rd Australian Edition, 2017, Pearson Australia.

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 - and how you will use the material you have studied. Students should be ready to allocate at least 150 hours during session time for ACCG2002. This includes all seminars, assessment tasks and personal study.

Unit Schedule

UNIT SCHEDULE - This Unit has a Law component followed by a Finance component

Law Text: Quilter, Company Law Perspectives, 3rd ed. 2017, Thomson Reuters (Lawbook Co.) - [referred to herein as "Q"]

Week 1 - Law

The legal system

Litigation; Tort; Contract; Consumer Law (Q Ch. 1, 2, 3 and 34)

Intellectual Property; Agency (Q Ch. 4)

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. 5

Applying for registration and the consequences of incorporation: Q Ch. 8

Types of Companies: Q Ch. 7

Corporations Act: www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/

Week 3 - Law

The company constitution and the replaceable rules: Q Ch. 9

Fundraising

Disclosure to investors: Q Ch. 14

Share capital: Q Ch. 15

Debentures and loan capital: Q Ch. 17

Promoters and pre-registration contracts: Q Ch. 12

Law Test

Week 4 - Law

Directors and management duties of directors and other officers: Q Ch. 18, 19, 20, 21

Financial and reporting obligations of directors: Q Ch. 22

Week 5 - Law

Insolvency

Corporate and personal arrangements and reconstructions; receivership; voluntary administration: Q Ch. 29, 30, 31 and 32

Bankruptcy, Liquidation, Insolvent trading: Q Ch. 33

Week 6 - Law

Summary and specific issues: shares and share trading

Law Assignment

Finance Text: Berk, J., DeMarzo P., Harford J., Ford, G., and Mollica, V., Fundamentals of Corporate Finance, 3rd Australian Edition, 2017 Pearson Australia, (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

Bond and share valuations, Berk Ch. 6, 7 and 10

Week 10 – Finance

Investment decisions, Berk Ch. 8 and 9

Week 11 – Finance

Risk and return, Berk Ch. 11 and 12

Week 12 – Finance

Submit Finance Assignment

Raising funds, Berk Ch. 14, 15 and 16

Week 13 – Finance

Finance Test

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

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

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/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.