Unit convenor and teaching staff |
Unit convenor and teaching staff
Jessica Chen
Rajni Mala
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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:
Name | Weighting | Hurdle | Due |
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Online class test | 25% | No | Week 6: Check iLearn for exact date |
Business Research Report (Research Assignment) | 15% | No | Week 9: Check iLearn for exact date |
Online final exam | 60% | No | University Examination Period |
Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 23 hours
Due: Week 6: Check iLearn for exact date
Weighting: 25%
The online class test covers topics one to five. The test is worth 25%.
Assessment Type 1: Report
Indicative Time on Task 2: 25 hours
Due: Week 9: Check iLearn for exact date
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: Examination
Indicative Time on Task 2: 25 hours
Due: University Examination Period
Weighting: 60%
A two-hours online examination will be held during the University examination period. The exam is worth 60%.
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
Required Text: |
The required textbook for this unit is (AUCS) Custom Publication for ACCG8123 for Macquarie University. You must have access to this resource prior to the start of the semester (and in my experience students without access to this content are far less likely to pass). The required resource is available in two formats: · The printed textbook and E-Text can be purchased from https://www.wileydirect.com.au/buy/accg8123-accg8126/ · Or the printed textbook can be purchased via campus bookstores or most online retailers (Zookal, Booktopia, Amazon etc.) Australian Accounting Standards Board (AASB) Standards, which can be viewed or downloaded from the AASB website at www.aasb.gov.au |
Unit Web Page: |
Course material is available on Macquarie University’s learning management system (iLearn). The unit web site (iLearn) is available via the link below: https://ilearn.mq.edu.au/login/MQ/ Technology Used and Required · iLearn This unit will use Macquarie University’s online technology for students to access course material, announcements as well as any other documents related to this unit. Students are required to regularly check the website for accessing up-to-dated information about this unit. The unit web site is available via the link below: https://ilearn.mq.edu.au/login/MQ/ Students need to have username and password to access to the unit web site. Please contact iLearn directly if you have any difficulties to access to the unit site. iLearn Student Help can be found from the following link: http://www.mq.edu.au/iLearn/help-pages/students.htm |
Technology Used and Required: |
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Delivery Format and Other Details: |
Classes The classes run from Week 1 to Week 13. Please register in a class as soon as possible. The class timetable can be found on the University website at: http://www.timetables.mq.edu.au/ The unit's learning outcomes can only be achieved through self-study and independent learning supported by attending classes. Students should complete the assigned homework for the topic, consisting of discussion questions and practical exercises. Each week, homework questions will be worked through to demonstrate the logical steps and processes involved in working through the practical aspect of the topic. The classes will only support your learning if you prepare them thoroughly by doing the recommended readings and the pre-set homework questions as outlined in the Unit Schedule (available on the ACCG8123 iLearn webpage) beforehand. Changes to class registration are managed by the online enrolment system. Please note that it is students' responsibility to check your class time and venue and ensure that you attend your registered class each week. The attendance records will be kept by lecturers. Online class registration will be shut down at the end of Week 2, so all class registration changes must be made by then. |
Recommended Readings: |
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Other Course Materials: |
Lecture Materials and Homework Solutions All homework solutions will be available on the unit web page (iLearn). Also, it is students' responsibility to check the unit web page (iLearn) on the regular basis to ensure you are aware of any information which may be posted by the Unit Convenor during the course of the session. |
Week |
Topic |
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1 |
Introduction Revision of the fundamentals of Accounting Systems and Processes |
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2 |
Implementation of Revised Conceptual Framework including the elements of financial statements Nature and regulation of companies |
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3 |
Accounting for non-current assets—property, plant and equipment |
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4 |
Accounting for Intangible Assets |
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5 |
Accounting for impairment of assets (non-current and intangible assets) |
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6 |
Accounting for leases |
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7 |
Accounting for Revenue |
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MID-SESSION BREAK |
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8 |
Preparation and presentation of company financial statements I |
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9 |
Preparation and presentation of company financial statements II |
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10 |
Cash flow statements I |
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11 |
Cash flow statement II |
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12 |
Theoretical principles underlying accounting practice Current national and international developments in Financial Reporting, Alternative reporting Frameworks and the eXtensible Business Reporting Language (XBRL) |
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13 |
Revision |
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
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/
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.
Macquarie University offers a range of Student Support Services including:
Got a question? Ask us via AskMQ, or contact Service Connect.
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Unit information based on version 2022.03 of the Handbook