Notice
As part of Phase 3 of our return to campus plan, most units will now run tutorials, seminars and other small group activities on campus, and most will keep an online version available to those students unable to return or those who choose to continue their studies online.
To check the availability of face-to-face and online 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.
Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Rajni Mala
Contact via accg8123@mq.edu.au
4ER 314
Lecturer
Tas Husain
Contact via accg8123@mq.edu.au
4ER 354
Teaching Assistant
Claudia Chau
Contact via accg8123@mq.edu.au
4ER 320B
Unit Moderator
Meiting Lu
Contact via accg8123@mq.edu.au
4ER 316
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
(ACCG611 or ACCG6011) and admission to MAccg or MAccLead or MAccg(Adv) or MCom or MProfAcc or MProfAccgLead
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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 examines the purpose, framework and environment influencing and affecting financial reports from the perspective of an incorporated entity. It specifically surveys accounting treatments as required by the International Financial Reporting Standards (IFRS), and its Australian Accounting Standards (AASB), for particular transactions and events. This unit also introduces students to the key business processes and the risks and controls associated with applying these accounting rules to/in financial reports. By the end of the unit, students will be familiar with accounting standards, be able to apply relevant accounting standards to key business processes, prepare and interpret financial reports and examine the outcomes of particular accounting treatment(s) to financial reports. Critical, analytical and integrative thinking, research, problem-solving and professional writing skills are also developed through the Business Research Report which requires students to research, review and recommend relevant accounting treatments. |
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
General Assessment Information
Late Submission(s): Late assessment must also be submitted through Turnitin. No extensions will be granted. 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 (for example, 25 hours late in submission incurs a 20% penalty). Late submissions will not be accepted after solutions have been discussed and/or made available. This penalty does not apply for cases in which an application for Special Consideration is made and approved. Note: applications for Special Consideration Policy must be made within 5 (five) business days of the due date and time.
Name | Weighting | Hurdle | Due |
---|---|---|---|
Online final exam | 60% | No | University Examination Period |
Business Research Report (Research Assignment) | 15% | No | Week 8 - April 26 2021 |
Online class test | 25% | No | Week 6 |
Assessment Type 1: Examination
Indicative Time on Task 2: 25 hours
Due: University Examination Period
Weighting: 60%
A two-hours fifteen minutes online examination will be held during the University examination period. The exam is worth 60%.
Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: Week 8 - April 26 2021
Weighting: 15%
Full details of the major research assignment (assignment objectives, question materials and requirements, etc) will be posted to the unit web page (iLearn). Students are required to write an approximately 1,200 word business report recommending the appropriate accounting treatment and disclosures to a particular type of transaction(s) and/or event(s), for a specified case study. This assessment requires students to research the transaction(s) / event(s), examine the outcome(s) of the treatment and evaluate and interpret issues regarding the preparation and presentation of financial reports to the case study.
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 15 hours
Due: Week 6
Weighting: 25%
The online class test covers topics one to five. The test is worth 25%.
1 If you need help with your assignment, please contact:
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Consultation Times The consultation timetable will be posted on the unit iLearn webpage at the beginning of the session. You are encouraged to seek help at a time that is convenient to you from a staff member teaching on this unit during their regular consultation hours. In special circumstances, an appointment may be made outside regular consultation hours. Staff will not conduct consultations by email. Students experiencing significant difficulties with any topic in the unit must seek assistance immediately. |
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Week |
Topic |
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1 |
Introduction Revision of the fundamentals of Accounting Systems and Processes |
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2 |
Theoretical principles underlying accounting practice Current national and international developments in Financial Reporting, Alternative reporting Frameworks and the eXtensible Business Reporting Language (XBR) |
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3 |
Implementation of Revised Conceptual Framework including the elements of financial statements Nature and regulation of companies |
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4 |
Accounting for non-current assets—property, plant and equipment |
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5 |
Accounting for Intangible Assets |
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6 |
Accounting for impairment of assets (non-current and intangible assets) |
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MID-SESSION BREAK |
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7 |
Accounting for leases |
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8 |
Accounting for Revenue |
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9 |
Preparation and presentation of company financial statements I |
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10 |
Preparation and presentation of company financial statements II |
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11 |
Cash flow statements I |
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12 |
Cash flow statement II |
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13 |
Revision |
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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.
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 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
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
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.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
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
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.
The topic Financing company operations—Accounting for share capital and debentures has been removed from the content and week two topic has been revised as Current national and international developments in Financial Reporting, Alternative reporting Frameworks and the eXtensible Business Reporting Language (XBR).
Date | Description |
---|---|
09/02/2021 | Prerecorded lecture time has changed from 1 .5 hours to 1 hour and tutorial time has changed from 1.5 to 2 hours |
Unit information based on version 2021.02 of the Handbook