Students

ACCG2024 – Financial Accounting and Reporting Analysis

2025 – Session 1, Online-scheduled-In person assessment, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Rajni Mala
rajni.mala@mq.edu.au
Contact via accg2024@mq.edu.au
Level 3 (Office 314), 4ER Building
Wednesday 2pm - 3pm
Moderator
Parmod Chand
ACCG2024@mq.edu.au
Ming Wu
ming.wu@mq.edu.au
Credit points Credit points
10
Prerequisites Prerequisites
ACCG1001
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit builds on first year accounting units, exploring financial reporting environment in greater depth and challenging students to question the foundations of financial reporting.  Areas and topics within International Financial Reporting Standards (IFRS) and its Australian equivalents Australian Accounting Standards Board (AASB) are reviewed. On the completion of this unit, students will be familiar with the regulatory environment for financial reporting, be able to apply relevant accounting standards to key business processes, prepare a complete set of financial statements based on both accrual and cash accounting, describe the alternative reporting frameworks such as the Global Reporting Initiative (GRI and be able to show the accounting entries for company financing. The unit develops technical and professional judgment skills and effective business communication skills through the Business Research Report which requires students to research, review and recommend relevant accounting treatments.

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: Explain the regulatory environment for financial reporting including the conceptual framework by employing appropriate theories underlying accounting practice.
  • ULO2: Apply the rules of International Financial Reporting Standards (IFRS) and its Australian equivalents Australian Accounting Standards Board (AASB) to selected financial transactions and events, and prepare a complete set of financial statements based on both accrual and cash accounting.
  • ULO3: Describe sustainable development practices, commonly used guidelines for Integrated Reporting and extended external reporting using XBRL.
  • ULO4: Apply appropriate accounting treatments of company accounting in relation to equity and debt financing.
  • ULO5: Research and professionally communicate appropriate accounting treatment and recommendations through written assignments and presentations.

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 submit an application for Special Consideration

Assessment Tasks

Name Weighting Hurdle Due
Formal and observed learning: Exam 40% No Exam Period
Professional practice: Case analysis 30% No Week 8
Formal and observed learning: Test 30% No Week 6

Formal and observed learning: Exam

Assessment Type 1: Examination
Indicative Time on Task 2: 25 hours
Due: Exam Period
Weighting: 40%

 

The purpose of this assessment is for you to formally demonstrate the expertise you have gained in this unit.   You will participate in a 2-hour exam held during the University Examination period. Important information about the exam will be made available on the unit iLearn page. You should also review the MQ Exams website for general tips.    Deliverable: Formal exam Individual assessment

 
On successful completion you will be able to:
  • Explain the regulatory environment for financial reporting including the conceptual framework by employing appropriate theories underlying accounting practice.
  • Apply the rules of International Financial Reporting Standards (IFRS) and its Australian equivalents Australian Accounting Standards Board (AASB) to selected financial transactions and events, and prepare a complete set of financial statements based on both accrual and cash accounting.
  • Describe sustainable development practices, commonly used guidelines for Integrated Reporting and extended external reporting using XBRL.
  • Apply appropriate accounting treatments of company accounting in relation to equity and debt financing.

Professional practice: Case analysis

Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 35 hours
Due: Week 8
Weighting: 30%

 

The purpose of this assessment is for you to strengthen your professional expertise in recommending appropriate accounting treatment and disclosures.   You will work in teams to prepare and present a formal business report.   Skills in focus: - Critical Analysis Skills - Collaboration skills - Communication skills   Deliverable: Written report [max. 1,200 words]; Presentation [10 minutes] Group assessment

 
On successful completion you will be able to:
  • Research and professionally communicate appropriate accounting treatment and recommendations through written assignments and presentations.

Formal and observed learning: Test

Assessment Type 1: Quiz/Test
Indicative Time on Task 2: 20 hours
Due: Week 6
Weighting: 30%

 

The purpose of this assessment is for you to demonstrate your understanding and knowledge of the topics from Weeks 1 to 5.   You will participate in a class test.   Skills in focus: - Discipline Knowledge - Problem Solving   Deliverable: Test Individual assessment

 
On successful completion you will be able to:
  • Explain the regulatory environment for financial reporting including the conceptual framework by employing appropriate theories underlying accounting practice.
  • Apply the rules of International Financial Reporting Standards (IFRS) and its Australian equivalents Australian Accounting Standards Board (AASB) to selected financial transactions and events, and prepare a complete set of financial statements based on both accrual and cash accounting.
  • Apply appropriate accounting treatments of company accounting in relation to equity and debt financing.

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

Please see iLearn for details

Unit Schedule

Week

Week Starting:

Topic

Readings

 

1

 

24 February

Introduction to the Regulatory Environment and Conceptual Framework

Introduction to Financing a company - Equity and Debt Financing

Financial Accounting by Loftus et al 4e

Chapter 1

2

 

  3 March

Accounting for Income Tax – Part I

Financial Accounting by Loftus et al 4e

Chapter 13

3

 

  10 March

Accounting for Income Tax – Part II

Financial Accounting by Loftus et al 4e

Chapter 13

4

 

  17 March

Accounting for Property, Plant and Equipment

Financial Accounting by Leo et al 12e

Chapter 5 (uploaded on iLearn)

5

 

  24 March

Accounting for Intangibles

Financial Accounting by Loftus et al 4e

Chapter 7 

6

 

 31 March

            TBA

Class Test Due

 

7

 

7 April

Accounting for Impairment

Financial Accounting By Loftus et al 4e

Chapter 8

MID-SESSION BREAK (From 14 to 25 April)

8

  

 28 April

Accounting for Leases

 

Financial Accounting By Loftus et al 4e

Chapter 11

9

5 May

Revenue Recognition and Financial Statements

Accounting Policies, Estimates and Errors

Accounting Theory and its impact on accounting policy choices

Financial Accounting by Loftus et al 4e

Chapter 16, 17

Chapter 19

Chapter 2

10

12 May

Statement of Cash Flows - Overview and Direct Method

Financial Accounting by Loftus et al 4e

Chapter 18

11

19 May

Statement of Cash Flows - Indirect Method, Notes and Limitations

Financial Accounting by Loftus et al 4e

Chapter 18

12

26 May

Alternative Reporting Frameworks

Financial Accounting by Loftus et al 4e

Chapter 23

13

2 June

Revision

Revision questions will be uploaded on 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 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.

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

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

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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
23/02/2025 Please note that there are some changes made in relation to the General Information of the Unit Guide.

Unit information based on version 2025.03 of the Handbook