Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Monica Rouvellas
Refer to iLearn for details
Cissy Zhan
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---|---|
Credit points |
Credit points
10
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Prerequisites |
Prerequisites
50cp at 1000 level or above
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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 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:
Weight: 20%
Due date: You are expected to attend and contribute to all tutorial seminars until the end of Week 13
Submission type: Attend and contribute to tutorial seminars
Estimated student workload: 20 hours
Task Overview: This assessment mark consists of the following types of participation:
Preparation/Instructions: Read and complete necessary tasks prior to the tutorial. 3-minute videos are to be submitted prior to the start of the tutorial.
Penalties: If students do not attend and contribute to any tutorials, 0 (zero) marks are awarded for this assessment.
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.
Weight: 20%
Due date: Week 8, Friday September 30th, 11.59pm
Submission type: via Turnitin
Estimated student workload: 20 hours
Task Overview: In this assessment, you will be analysing a current contemporary issue that relates to an aspect (topic, area, issue) of the material covered in the unit from Lecture 4 onwards. You will be required to complete a 1000-word WRITTEN ANALYSIS on a contemporary issue. Consult the Assessment Tab (Assessment Table) for the easy question.
Late Assessment Submission Penalty
Unless an application for Special Consideration has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted.
Assessment Type 1: Examination
Indicative Time on Task 2: 40 hours
Due: University Exam Period
Weighting: 60%
A two- hour open 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 |
---|---|---|---|
Media Assignment | 20% | No | Friday Week 8, 11.59pm |
Tutorial Participation | 20% | No | Weekly, in-class |
Final Examination | 60% | No | University Exam Period |
Assessment Type 1: Qualitative analysis task
Indicative Time on Task 2: 20 hours
Due: Friday Week 8, 11.59pm
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: Participatory task
Indicative Time on Task 2: 20 hours
Due: Weekly, in-class
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: Examination
Indicative Time on Task 2: 40 hours
Due: University Exam 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
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Introduction to the Legal System, Intentional Torts CLP Chpts 1 |
2
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Negligence and Privacy and Data Protection CLP Chpt 3, 4, 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 |
3
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Contracts 1 CLP Chpts 2, 10 |
4
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Contracts 2 CLP Chpts 2, 10, 12 |
5
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Consumer Protection and Business Structures CLP Chpts 34, 5, 7 |
6
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Intro to company law and registration, directors and management CLP Chpts 8, 9, 18 |
7
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Directors Duties and Remedies for Breaches CLP Chpts 19, 20, 21 |
8
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Financial Reporting, Auditing, Share Capital, and Dividends CLP Chpts 13, 14, 15, 16, 22, 23, 24 |
9
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Members' Rights and Members' Meetings CLP Chpts 25, 26 |
10
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Takeovers CLP Chpts 27, 28 |
11
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Intro to Corporate insolvency, Receivership CLP Chpts 29, 30, 32 |
12
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Voluntary Administration and Liquidation CLP Chpts 31, 33
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13
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Summary and Revision for final exam |
Week |
Topic |
2
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Introduction to the Legal System, Intentional Torts |
3
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Negligence and Privacy and Data Protection |
4
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Contracts 1 |
5
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Contracts 2 |
6
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Consumer Protection and Business Structures |
7
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Intro to company law and registration, directors and management |
8
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Directors Duties and Remedies for Breaches |
9
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Financial Reporting, Auditing, Share Capital and Dividends
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10
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Members' Rights and Members' Meetings |
11
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Takeovers
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12
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Intro to Corporate insolvency, Receivership |
13
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Voluntary Administration and Liquidation |
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.
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At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
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Macquarie University offers a range of Student Support Services including:
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Unit information based on version 2022.05 of the Handbook