Students

ACST2052 – Finance and Financial Reporting

2022 – Session 1, In person-scheduled-weekday, North Ryde

General Information

Download as PDF
Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Chi Truong
chi.truong@mq.edu.au
Contact via Please refer to iLearn
Chi Truong
chi.truong@mq.edu.au
Deanna Tracy
deanna.tracy@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
ACST152 or ACST1052
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit equips students to understand corporate governance and organisation, corporate financial reporting and corporate finance decision-making. It provides a basic understanding of financial reporting and how to interpret financial statements, and integrates this with corporate financial decisions such as raising finance, determining capital structure including liquidity, paying dividends, and assessing capital investments, in the context of the Australian financial sector. Students will also understand and apply basic theoretical concepts in finance. Students gaining a Credit in this unit will satisfy the requirements for exemption from professional subject CB1 of the Actuaries Institute.

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: Describe the process of financial reporting and interpret financial reports.
  • ULO2: Examine key financial concepts and interpret how these concepts are illustrated in corporate financial practice.
  • ULO3: Evaluate and critique issues in finance and financial reporting.
  • ULO4: Apply finance and financial reporting knowledge in a group project to solve a practical problem.
  • ULO5: Examine and identify issues of financial reporting in corporate practice.

General Assessment Information

Assessment criteria for all assessment tasks will be provided on the unit iLearn site.

It is the responsibility of students to view their marks for each within-session-assessment on iLearn within 20 days of posting. If there are any discrepancies, students must contact the unit convenor immediately. Failure to do so will mean that queries received after the release of final results regarding assessment tasks (not including the final exam mark) will not be addressed.

Late submissions of assessments Unless a Special Consideration request has been submitted and approved, no extensions will be granted. There will be a deduction of 10% of the total available assessment-task marks made from the total awarded mark for each 24-hour period or part thereof that the submission is late. Late submissions will only be accepted up to 96 hours after the due date and time.

No late submissions will be accepted for timed assessments – e.g., quizzes, online tests.

Table 1: Penalty calculation based on submission time

Submission time after the due date (including weekends)

Penalty (% of available assessment task mark)

Example: for a non-timed assessment task marked out of 30

< 24 hours

10%

10% x 30 marks = 3-mark deduction

24-48 hours

20%

20% x 30 marks = 6-mark deduction

48-72 hours

30%

30% x 30 marks = 9-mark deduction

72-96 hours

40%

40% x 30 marks = 12-mark deduction

> 96 hours

100%

Assignment won’t be accepted

Special Consideration

To request an extension on the due date/time for a timed or non-timed assessment task, you must submit a Special Consideration application. An application for Special Consideration does not guarantee approval.

The approved extension date for a student becomes the new due date for that student. The late submission penalties above then apply as of the new due date.

Assessment Tasks

Name Weighting Hurdle Due
Class Test 20% No Week 8
Group Assignment 20% No Week 10
Final Examination 60% No Formal Exam Period

Class Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 10 hours
Due: Week 8
Weighting: 20%

 

The test will be approximately 90 minutes, to be held during class time.

 
On successful completion you will be able to:
  • Describe the process of financial reporting and interpret financial reports.
  • Examine key financial concepts and interpret how these concepts are illustrated in corporate financial practice.

Group Assignment

Assessment Type 1: Quantitative analysis task
Indicative Time on Task 2: 20 hours
Due: Week 10
Weighting: 20%

 

You will be assigned to a group to work on a group assignment.

 
On successful completion you will be able to:
  • Describe the process of financial reporting and interpret financial reports.
  • Examine key financial concepts and interpret how these concepts are illustrated in corporate financial practice.
  • Evaluate and critique issues in finance and financial reporting.
  • Apply finance and financial reporting knowledge in a group project to solve a practical problem.

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 28 hours
Due: Formal Exam Period
Weighting: 60%

 

The final examination will be closed book, a three-hour written paper with ten minutes reading time, to be held during the University Examination period.

 
On successful completion you will be able to:
  • Describe the process of financial reporting and interpret financial reports.
  • Examine key financial concepts and interpret how these concepts are illustrated in corporate financial practice.
  • Evaluate and critique issues in finance and financial reporting.
  • Apply finance and financial reporting knowledge in a group project to solve a practical problem.
  • Examine and identify issues of financial reporting in corporate practice.

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 and Recommended Texts and/or Materials

Text

Brealey, R., Myers, S., and Allen, F. 2019. Principles of Corporate Finance (13th ed.). McGraw- Hill

Reference

Ross, S., Westerfield, R. and Jordan, B., 2019. Fundamentals of Corporate Finance (12th ed.). McGraw-Hill

Hoggett, J., Medlin, J., Chalmers, K., Beattie, C., Hellmann, A., Maxfield J., 2018. Accounting (10th ed.). Wiley

Weygandt, J., Kieso, D., Kimmel, P. 2016. Financial Accounting (10th ed.). Wiley

Technology Used and Required

Calculators You may use a calculator in the class test and in the final examination provided it is portable, silent and battery operated, but you must show clearly the steps involved in every calculation. You may NOT use any calculators that have a text-retrieval capacity, whether or not they have a full alphabet on the keyboard. Calculators may be checked at the commencement of the class test and final exam, and the make/model may be recorded.

Word processing Students need to have access to word processing software (like Word) to complete the Assignment. You will need electronically submit your Assignment (using iLearn) as a PDF file. Check your word processing software can generate a PDF file.

Spreadsheet program Many of the problems you will encounter in this unit can be solved easily with the spreadsheet program, Excel. You can use this spreadsheet program to verify your solutions to many of the problems you are solving.

Unit Schedule

Please refer to iLearn

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

Academic Integrity

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.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

The Writing Centre

The Writing Centre provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via AskMQ, or contact Service Connect.

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
16/03/2022 Class test has been changed to Week 8, at Lecture time (9-11am).

Unit information based on version 2022.04 of the Handbook