Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Monica Rouvellas
By Appointment. Please email to organise a consultation time.
Teaching Assistant
Cissy Zhan
Contact via Contact via ACCG2051@mq.edu.au
|
---|---|
Credit points |
Credit points
10
|
Prerequisites |
Prerequisites
50cp at 1000 level or above
|
Corequisites |
Corequisites
|
Co-badged status |
Co-badged status
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Unit description |
Unit description
This unit introduces students to the Australian legal system, including contract law, and focuses on corporate law and regulation. The relationship between the law and the role of accounting and business professionals is an underlying theme and students are encouraged to develop critical thinking skills as they analyse and evaluate legal issues in a commercial context. The unit will provide students with perspectives on a range of commercially important legal issues such as forming a business, management responsibilities, investor/shareholder protection, and insolvency. Topics include contract law, agency, partnerships, characteristics of companies, director's duties, rights of shareholders, voluntary administration, and liquidation. At the conclusion of the unit students will be aware of legal regulation applicable to different types of business organisations, particularly companies, and be able to identify and evaluate a range of corporate legal issues. |
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:
Session 2, Weekday attendance, North Ryde
General Information
Unit convenor and teaching staff | Convenor and Lecturer
Monica Rouvellas Contact via Email See iLearn Teaching AssistantCissy Zhan Contact via ACCG2051@mq.edu.au |
---|---|
Credit points |
10 |
Prerequisites |
50cp at 1000 level or above |
Corequisites | |
Co-badged status | |
Unit description |
This unit introduces students to the Australian legal system, including contract law, and focuses on corporate law and regulation. The relationship between the law and the role of accounting and business professionals is an underlying theme and students are encouraged to develop critical thinking skills as they analyse and evaluate legal issues in a commercial context. The unit will provide students with perspectives on a range of commercially important legal issues such as forming a business, management responsibilities, investor/shareholder protection, and insolvency. Topics include contract law, agency, partnerships, characteristics of companies, director's duties, rights of shareholders, voluntary administration, and liquidation. At the conclusion of the unit students will be aware of legal regulation applicable to different types of business organisations, particularly companies, and be able to identify and evaluate a range of corporate legal issues. |
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:
General Assessment Information
Together with the information provided in this Unit Guide there will be additional, and if required updated, information and detail in relation to assessment, and the unit generally, available on iLearn.
Late Submission of Assessment
Late Submission(s): Where the assessment is to be submitted through Turnitin, the late assessment must also, where applicable, 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.
Assessment Tasks
Name | Weighting | Hurdle | Due |
---|---|---|---|
Tutorial participation | 20% | No | Throughout Session |
Media Assignment | 20% | No | Week 8 Friday 4pm |
Final Examination | 60% | No | University Exam Period |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Ongoing
Weighting: 20%
Individual participation throughout the unit will be graded and is worth 20%. On successful completion you will be able to:
Tutorial participation involves evidence of preparation for, participation in, and contribution to the tutorial.
Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 20 hours
Due: Report due Week 8 - Friday 4pm. Submit via TurnitIn on iLearn.
Weighting: 20%
This assessment involves a 1000 word written analysis of a current contemporary issue that relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 onwards.
On successful completion you will be able to:
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: University Exam Period
Weighting: 60%
A two- hour closed book final examination for this unit will be held during the University Examination period.
On successful completion you will be able to:
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
Name | Weighting | Hurdle | Due |
---|---|---|---|
Tutorial Participation | 20% | No | Ongoing |
Media Assignment | 20% | No | Week 8 Friday 4pm |
Final Examination | 60% | No | University Examination Period |
Assessment Type 1: Participatory task
Indicative Time on Task 2: 20 hours
Due: Ongoing
Weighting: 20%
Tutorial (online) includes responses to written tutorial questions, answering questions, asking questions and engaging with other students and tutor and following tutorial discussion.
Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 20 hours
Due: Week 8 Friday 4pm
Weighting: 20%
This assessment involves a 1000 word written analysis of a current Australian newspaper/media article that relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 forward.
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: University Examination Period
Weighting: 60%
A two-hour online examination will be held during the University Examination Period.
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
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, holiday scheduling, unit structure, delivery or class management.
The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/
Required 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 can be purchased from the publishers Thomson Reuters via their website https://legal.thomsonreuters.com.au/student/university/macquarie/
LexisNexis practical guidance. Cybersecurity, data protection & privacy. (n.d.). Chatswood, N.S.W: LexisNexis. This accessible online through the Macquarie University Library: https://multisearch.mq.edu.au/permalink/61MACQUARIE_INST/1c87tk9/alma99244638810102171
The following is not required but may be useful: Lipton, Herzberg and Welsh, Understanding Company Law, Thomson Reuters (Lawbook Co.).
After considering the Australian legal framework, tort law and contract law, the unit will focus on corporate issues and the relevance and effect of the Corporations Act. Note that certain relevant sections of the Corporations Act are set out in CLP 4th ed. Statutes may be viewed in full at www.austlii.edu.au
Useful websites
Useful databases
Students should be ready to allocate at least 150 hours during the session (in total) to ACCG2051. This includes all classes, assessment, personal study and other learning activities.
Technology Used and Required:
Technology: learning management system (https://ilearn.mq.edu.au/login/index.php). Students have to frequently access this Unit's iLearn site (https://ilearn.mq.edu.au/login/ index.php) for relevant unit material (if any), announcements and detailed information regarding the Unit.
Note that Lectures start in Week 1 and Tutorials start in Week 2
The Unit is divided into 5 integrated areas. All of these areas are important to an understanding of the commercial and corporate issues that have a relationship to the role and responsibilities of accounting and business professionals.
Legal system and core legal and commercial concepts
Relevance for accounting and business professionals: Exposure to basic rights and commercial responsibilities to inform both personal transactions and professional advice to clients; employment relations; duty of care in the delivery of services; objectivity in assessment of performance; privacy and data collection, basic business organisation and structure.
Business Organisations and the Corporate Framework
Relevance for accounting and business professionals: Informed as to the choice of profit-making structure; the importance of exposure and extent of business failure and personal liability; understanding key business advice and strategy; entrepreneurial interrelationships; knowledge of role and functions of the corporate regulator.
Corporate management and governance responsibilities
Relevance for accounting and business professionals: Developing the ability to advise corporate clients, including individual directors and other managers; relevant foundation knowledge for personal future entrepreneurship; the importance of financial and ethical obligations and downsides of failure; recognising the relationship between company directors and accounting professionals; becoming alert to problems of financial oversight.
Shareholders and the corporate market
Relevance for accounting and business professionals: Ability to advise clients on the nature of the corporate marketplace; foundation information for providing professional investment advice to clients; awareness of key issues in company meetings; grounding for professional advisory role and introduction to current market issues in the acquisition and disposal of shares; introduction to shareholder equity issues including protection of rights.
Insolvency and Restructuring
Relevance for accounting and business professionals: Exposure to key accounting and business issues in insolvency practice and the place of insolvency practitioners in the accounting and legal professions; understanding important signs and warnings of insolvency for both personal and business advisory use; being alert to insolvency options; understand legal alternatives and advise companies and their directors on effective insolvency planning and remedial action; and takeovers.
Week |
Topic |
1
|
Legal Framework, Law of Tort CLP Chpts 1, 3, 6 and 11 |
2
|
Contract Law I CLP Chpt 2 |
3
|
Contract Law II, Consumer Protection, Agency CLP Chpts 4, 10 and 34 |
4
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Comparison of business organisations, Partnership, Registration of Companies including the role of ASIC, Types of Companies & consequences of registration CLP Chpts 5, 7, and 8 |
5
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The nature of Trusts, Company Constitution, Role of directors, Financing of companies using equity and debt and Dividends CLP Chpts 5, 9, 13, 14, 15, 16 and 17 |
6
|
Directors and corporate management, Director’s fiduciary duties CLP Chpts 18 and 19 |
7
|
Directors’ statutory duties and corporate governance, financial and reporting obligations, Audit CLP Chpts 20, 21, 22, 23 and 24 |
8
|
Members rights, Company meetings CLP Chpts 25 and 26 |
9
|
Takeovers, Financial services and markets – regulation and prohibited conduct CLP Chpts 27 and 28 |
10
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The concept of insolvency and the importance of insolvency regulation, Restructuring CLP Chpts 29, 30, and 31 |
11
|
Liquidation, the role and responsibilities of liquidators CLP Chpts 32 and 33 |
12
|
Data Protection and Privacy Regulations LexisNexis Practical Guidance: AU Cybersecurity, Data Protection & Privacy (Access through Multisearch).
|
13
|
Summary and Revision for final exam |
Week |
Topic |
2
|
Legal Framework, Law of Tort |
3
|
Contract Law I |
4
|
Contract Law II, Consumer Protection, Agency |
5
|
Comparison of business organisations, Partnership, Registration of Companies including the role of ASIC, Types of Companies & consequences of registration |
6
|
The nature of Trusts, Company Constitution, Role of directors, Financing of companies using equity and debt and Dividends |
7
|
Directors and corporate management, Director’s fiduciary duties |
8
|
Directors’ statutory duties and corporate governance, financial and reporting obligations, Audit |
9
|
Members rights, Company meetings
|
10
|
Takeovers, Financial services and markets – regulation and prohibited conduct |
11
|
The concept of insolvency and the importance of insolvency regulation, Restructuring
|
12
|
Liquidation, the role and responsibilities of liquidators |
13
|
Data Protection and Privacy Regulations and Revision for Final Exam |
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Unit information based on version 2022.03 of the Handbook