Students

ACCG1001 – Accounting and Governance

2024 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor and Lecturer
Tas Husain
tas.husain@mq.edu.au
Contact via Email
Room 354, Level 3, 4ER Building, 4 Eastern Road
Please refer to iLearn
Credit points Credit points
10
Prerequisites Prerequisites
ACCG100 or ACCG106 or ACCG1000
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit focuses on the role of accounting in governance and accountability. The link between accounting and governance is discussed through the concepts of measurement, valuation, conceptual framework, reporting and communication of financial and non-financial information. The unit also acquaints students with how to apply computerised accounting software to record financial transactions and adjust accounting entries, and to prepare bank reconciliation and financial statements. On the completion of this unit, students are expected to understand the role of accounting in discharging accountability, provide accounting treatment for assets, liabilities and equity, analyse and interpret financial statements, and understand the regulatory accounting environment. Critical, analytical and integrative thinking, problem solving, communication and teamwork skills are developed through treatments of accounting transactions and events, and the completion of a business report and group project.

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: Identify and describe the role of accounting in organisational governance and stewardship, and in discharging accountability to stakeholders.
  • ULO2: Apply skills in processing accounting information and explain classifications and/or treatments to essential accounting processes and the use of accounting software.
  • ULO3: Analyse financial statements and integrate knowledge and skills to solve business problems including working capital.
  • ULO4: Explain the regulatory accounting environment and its impact for the accounting profession.
  • ULO5: Prepare financial statements, and provide advice on routine accounting issues from appropriate regulatory and/or governance perspectives.

General Assessment Information

Late Assessment Submission Penalty (written assessments) 

 Unless a Special Consideration request 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. Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.  

For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to apply for Special Consideration.

Assessment Tasks

Name Weighting Hurdle Due
Participatory Task 25% No Continuous - Weeks 3 to 12
Business Report 15% No Week 9
MYOB Assignment 10% No Week 11
Final Examination 50% No University Exam Period

Participatory Task

Assessment Type 1: Participatory task
Indicative Time on Task 2: 24 hours
Due: Continuous - Weeks 3 to 12
Weighting: 25%

 

This assessment task requires students to actively participate in a range of activities during tutorials. The purpose of this assessment is for students to show, with evidence, that you are working progressively and continuously throughout the session, to achieve the unit’s learning outcomes. Participatory tasks may include all or any of the following: contribution to tutorial discussions, class tests, short in-tutorial quizzes, in-class presentations, and the completion of various in-class activities, both individual and in groups, requiring submission at the completion of tutorials. Participatory tasks start in Week 3 and end in Week 12.

 
On successful completion you will be able to:
  • Identify and describe the role of accounting in organisational governance and stewardship, and in discharging accountability to stakeholders.
  • Apply skills in processing accounting information and explain classifications and/or treatments to essential accounting processes and the use of accounting software.
  • Analyse financial statements and integrate knowledge and skills to solve business problems including working capital.
  • Explain the regulatory accounting environment and its impact for the accounting profession.
  • Prepare financial statements, and provide advice on routine accounting issues from appropriate regulatory and/or governance perspectives.

Business Report

Assessment Type 1: Practice-based task
Indicative Time on Task 2: 20 hours
Due: Week 9
Weighting: 15%

 

During the session students are required to prepare a business report that analyses a company’s reporting of specific accounting transactions and corporate governance

 
On successful completion you will be able to:
  • Identify and describe the role of accounting in organisational governance and stewardship, and in discharging accountability to stakeholders.
  • Apply skills in processing accounting information and explain classifications and/or treatments to essential accounting processes and the use of accounting software.
  • Analyse financial statements and integrate knowledge and skills to solve business problems including working capital.
  • Prepare financial statements, and provide advice on routine accounting issues from appropriate regulatory and/or governance perspectives.

MYOB Assignment

Assessment Type 1: Quantitative analysis task
Indicative Time on Task 2: 15 hours
Due: Week 11
Weighting: 10%

 

During the session students are required to undertake an accounting task using the MYOB accounting software

 
On successful completion you will be able to:
  • Apply skills in processing accounting information and explain classifications and/or treatments to essential accounting processes and the use of accounting software.
  • Analyse financial statements and integrate knowledge and skills to solve business problems including working capital.
  • Prepare financial statements, and provide advice on routine accounting issues from appropriate regulatory and/or governance perspectives.

Final Examination

Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: University Exam Period
Weighting: 50%

 

A two-hour examination will be held during the University Examination period.

 
On successful completion you will be able to:
  • Identify and describe the role of accounting in organisational governance and stewardship, and in discharging accountability to stakeholders.
  • Apply skills in processing accounting information and explain classifications and/or treatments to essential accounting processes and the use of accounting software.
  • Analyse financial statements and integrate knowledge and skills to solve business problems including working capital.
  • Explain the regulatory accounting environment and its impact for the accounting profession.
  • Prepare financial statements, and provide advice on routine accounting issues from appropriate regulatory and/or governance perspectives.

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

PRESCRIBED TEXTBOOK:

Carlon, S., McAlpine-Mladenovic, R., Palm, C., Mitrione, L., Kirk, N. and Wong, L.(2022) 'Accounting: Reporting, Analysis and Decision Making (7th edition)', Wiley, QLD, Australia.

  • Access to the textbook is essential for lecture references and for tutorial questions. All chapter references in the unit schedule refer to the prescribed textbook unless otherwise indicated.
  • There are various options available to access/purchase the textbook. Please refer to iLearn for more information on these options.

Recommended additional materials:

  • Solomon, L (2013) ‘Corporate governance and accountability’, Wiley, Chichester, United Kingdom. (CHAPTER 1 only).
  • Hoggett, J. Edwards, L. Medlin, J. Chalmers, K. Hellmann, A., Beattie, C., Maxfield, J. (2015) 'Accounting' Wiley, QLD, Australia. (CHAPTER 15 only).

TECHNOLOGY USED AND REQUIRED

  • You must be familiar with the learning management system, iLearn;
  • Leganto where access to the e-textbook and other recommended readings are available can be found in ACCG1001 iLearn website;
  • You will need to conduct research and be familiar with Internet search engines and library database to source materials;
  • You will be required to use the MYOB software to complete the MYOB tasks.

 

UNIT WEB PAGE

  • Course materials will be made available on the learning management system (iLearn). It is essential that you regularly visit the unit’s web page. It is here that you will have access to the Unit Guide, announcements, supplementary reading materials, lecture and tutorial materials, and staff consultation hours.
  • The web page for this unit can be found at: http://ilearn.mq.edu.au. To access the web page, you need to enter your username, password and second factor authentication. You should contact IT Helpdesk if you need any assistance at: at: https://students.mq.edu.au/support/technology/service- desk

 

LEARNING AND TEACHING ACTIVITIES:

Classes for ACCG1001 in Session 1 2024 comprise of (1) weekly face-to-face on campus lectures and (2) weekly face-to-face on campus tutorials/online zoom tutorials.

Unit Schedule

Study Schedule

Week

Lecture Topics

1

Introduction: accounting and governance

2

Accounting regulation and conceptual framework

3

Internal control and cash management

4

Accounting for receivables

5

Accounting for inventory I

6

Accounting for inventory II and GST implications

7

TBA

8

Open lecture on accounting professional careers

Mid-session break

9

Accounting for non-current assets

10

Accounting for liabilities and equity

11

Financial Statement analysis

12

Accounting for partnerships

13

Revision

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 connect.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 the Service Connect Portal, 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.

Unit information based on version 2024.03 of the Handbook