Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor & Lecturer
Carmel Emanuel
4ER Room 343
Unit Moderator
Rebecca Bachmann
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
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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 focuses on the role of accounting and the accounting profession in society.
By exploring and discovering diverse accountability frameworks, students will learn to appreciate the role accounting plays. The unit aims to introduce basic accounting concepts and methods.
Students will be provided with an opportunity to discuss evolving means of information preparation, with an emphasis on understanding how such information assists users when making important business decisions. The role of accounting stewardship is explored, developing students’ awareness of social, environmental and ethical concerns in an attempt to develop well rounded business professionals.
Students will develop skills in using accounting software currently used by businesses for reporting purposes. Students will also be given the opportunity to develop skills in resolving conflict and ethical dilemmas.
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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:
Late Submission of Assessments 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. 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, and/or scheduled assessments students need to submit an application for Special Consideration. 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.
Name | Weighting | Hurdle | Due |
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Skills development: Accounting, ethics and sustainability | 35% | No | Week 8 Sunday 4th May & Week 12 Sunday 1st June at 11.55pm |
Professional practice: Accounting with Xero | 25% | No | Week 10, Sunday 18th May at 11.55pm |
Formal and observed learning: Exam | 40% | No | During University Examination Period |
Assessment Type 1: Reflective Writing
Indicative Time on Task 2: 25 hours
Due: Week 8 Sunday 4th May & Week 12 Sunday 1st June at 11.55pm
Weighting: 35%
The purpose of this assessment is for you to explore the critical role of accounting to the success of a business.
You will discover the key elements of the accounting cycle - identifying and recording transactions, preparing financial statements - and analyse the growing importance of ethics and sustainability to contemporary businesses.
Skills in focus: - Collaboration skills - Communication skills - Discipline knowledge - Critical thinking
Deliverable: Written submissions Individual assessment
Assessment Type 1: Quantitative analysis task
Indicative Time on Task 2: 25 hours
Due: Week 10, Sunday 18th May at 11.55pm
Weighting: 25%
The purpose of this assessment is for you to develop expertise in using professional accounting software to generate financial reports.
You will record and report financial information for a small business during its first month of operations with the accounting software Xero which is widely used in the industry.
Skills in focus: - Discipline knowledge - Problem solving - Digital Skills [Xero]
Deliverable: Financial and business reports Individual assessment
Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: During University Examination 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
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
Please refer to iLearn for details
Study Schedule and Weekly Readings |
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Lecture Week |
Lecture Topics |
Weekly readings* |
1 |
Introduction to the Unit Accounting, Accountability and Society Forms of Business Organisations |
Chapter 1 pp. 1-10 and 12-15 only. |
2 |
Financial Accounting for Business: Transaction Analysis Elements of Financial Statements Accounting Concepts and Principles Qualitative Characteristics of Accounting Information |
Chapter 2 pp. 77-89 and Chapter 1 pp. 35-38 |
3 |
Financial Accounting for Business: Preparing General Journal Entries |
Chapter 2 pp. 90-94 |
4 |
Financial Accounting for Business: The General Ledger Posting General Journal Entries Preparing a Trial Balance |
Chapter 2 pp. 94-112 |
5 |
Financial Accounting for Business: Preparing Adjusting Journal Entries |
Chapter 3 pp. 133-136 and 140-156 |
6 |
Financial Accounting for Business: The Closing Process Preparing Closing Journal Entries |
Chapter 3 pp. 157-161 |
7 |
Financial Accounting for Business: Preparing Financial Statements |
Chapter 1 pp. 16-28 |
Mid-Session Break: Monday 14th April to Friday 25th April 2025 |
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8 |
Financial Accounting for Business: Interpreting Financial Statements |
Chapter 1 pp. 39-46 and 48-54 |
9 |
Management Accounting: Introduction to Management Accounting |
Chapter 14 pp. 738-744
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10 |
Management Accounting: Cost-Volume-Profit Analysis |
Chapter 16 pp. 839-842 and 848-857 |
11 |
Business Ethics: What is it and why is it important? Role of Ethics in Accounting Code of Ethics for Professional Accountants |
Reading materials provided on iLearn via Leganto |
12 |
Sustainability Reporting: What it is and why is it important? Role of Accountants Disclosure and Reporting Requirements |
Reading materials provided on iLearn via Leganto |
13 |
Revision Week |
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* Weekly readings refer to chapters in the prescribed textbook unless otherwise indicated.
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 connect.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 the Service Connect Portal, or contact Service Connect.
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 2025.03 of the Handbook