Students

ACCG101 – Accounting IB

2013 – S1 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Bill Blair
bill.blair@mq.edu.au
Contact via bill.blair@mq.edu.au
E4A 339
Tuesday and Wednesdays 11 am -12pm
Credit points Credit points
3
Prerequisites Prerequisites
ACCG100(P) or ACCG105(P)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This unit aims to build on the principles and concepts of financial accounting established in ACCG100. Topics include an examination of the regulatory framework of financial accounting including the definition, recognition and measurement of assets, liabilities, income and expenses. Aspects of investor decision making are covered, including financial statement analysis. In addition, the unit introduces students to aspects of management accounting including cost-volume-profit analysis, job costing and concepts relating to budgeting. The unit develops graduate capabilities centred on effective oral and written communication skills, and analytical and critical thinking skills.

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:

  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • acquired knowledge of the role of a professional accountant and the importance of professional development.
  • practical skills to account for liabilities, and equity related to partnerships and companies.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Assessment Tasks

Name Weighting Due
1. Assessed Coursework 15% Weeks 4, 6, 10 & 12
2. Class test 10% Week 8 Class
3. Assignment 20% Weeks 5, 8 & 11
4. Final Examination 55% Formal Examination Period

1. Assessed Coursework

Due: Weeks 4, 6, 10 & 12
Weighting: 15%

Comprises the collection of 4 in class handouts where the best three will count towards the final mark of 15. Each random collection will be of equal weight.

 

Submission:

In your designated tutorials.

Extension:

No extension will be granted.

Penalties:

A mark of ZERO will be assigned for non-submission.


On successful completion you will be able to:
  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • practical skills to account for liabilities, and equity related to partnerships and companies.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

2. Class test

Due: Week 8 Class
Weighting: 10%

Will cover all lecture topics up until the end of week 6. 

Submission:

In your designated tutorial in week 8

Extension:

No extension will be granted.

Penalties:

A mark of ZERO will be assigned for non-submission. Unless a special consideration application is submitted and approved in which case the weighting of the final exam will be adjusted to include the amrks for this test.
On successful completion you will be able to:
  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • practical skills to account for liabilities, and equity related to partnerships and companies.

3. Assignment

Due: Weeks 5, 8 & 11
Weighting: 20%

(a) Accounting firm report (maximum 500 words) worth 5%

(b) Personal resume worth 5%

(c) Reflective Learning Report (maximum 1000 words) worth 10% 

 

Submission:

Submissions will occur in the designated tutorials as stated in the unit schedule.

Extension:

No extension will be granted

Penalties:

A mark of ZERO will be assigned for late or non-submission. Unless a special consideration application is submitted and approved. In the case of special consideration being granted the marks will be allocated onto the final exam.
On successful completion you will be able to:
  • acquired knowledge of the role of a professional accountant and the importance of professional development.

4. Final Examination

Due: Formal Examination Period
Weighting: 55%

 A final examination is included as an assessment task for this unit to provide assurance that:

 i)the product belongs to the student and

 ii)the student has attained the knowledge and skills tested in the exam.

 A three hour final examination plus 10 minutes reading time for this unit will be held during the university examination period. All topics covered in the unit are examinable.

 

You are expected to present yourself for examination at the time and place designated in the university examination timetable. The timetable will be available in draft form approximately eight weeks before the commencement of the examinations and in final form approximately four weeks before the commencement of the examinations. http://www.timetables.mq.edu.au/exam

 

What is required to complete the unit satisfactorily:

1) Satisfactory completion of all assessment tasks

 

2) To pass this unit a student’s overall performance must be satisfactory, and additionally he/she MUST PASS the final examination.

 

 

 
On successful completion you will be able to:
  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • practical skills to account for liabilities, and equity related to partnerships and companies.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Delivery and Resources

Classes

  • The unit involves 3 hours face-to-face teaching per week consisting of 1 lecture (one hour) and 1 tutorial (two hours)
  • The timetable for classes can be found on the University web page at:

            http:www.timetables.mq.edu.au/

  • To avoid overcrowding issues, you are required to attend your allocated lecture. Please do not attend a class if you are not enrolled in it.
  • Any changes to tutorials must be made through e-student. You have to finalise your classes by the end of week 2 after which changes are no longer possible.

Prizes

  • The CPA Australia Prize for 100-level accounting.
  • The Institute of Chartered Accountants Prize for best overall performance in first year accounting units.

More information cna be found on the following web page:

http://www.businessandeconomics.mq.edu.au/undergraduate_degrees/prizes_scholarships

Required and recommended texts and/or Materials

  • HoggettJ., Edwards,L., Medlin,J., and Tilling,M. (2012), Accounting, 8th edition,

            John Wiley and Sons, Sydney, Australia.

  • Supplementary materials will be provided on the unit web page.
  • The textbook cna be purchased from the Co-op bookshop. The textbook can be purchased with a WileyPlus code or without. WileyPlus is not required for ACCG101, but may help the self-study of students.
  • Copies of the textbook are available in the library.

 

Technology Used and Required

  • Students must be familiar with the learning management system ilearn.
  • Students need to have knowledge about accessing e-reserve to download articles.
  • Students are required to conduct their own research and need to be familiar with Internet search engines and library databases.

Unit Web Page

  • Course material is available on the learning management system (ilearn). It is essential to visit the unit web page regularly. Unit outline, announcements, supplementary reading materials, lecture and tutorial materials, and assessments are available to access and/or download via the web page.
  • 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 and password. You should IThelpdesk if you need any assistance.

 

Learning and Teaching Activities

In the lecture, you will be given practical explanations and examples to supplement the text materials. For every week, you are expected to read both the textbook chapter(s) highlighted in the Unit Schedule and any supplementary materials specified on the unit web page. You are also expected to read the relevant text chapters and supplementary materials before attending the lecture. Lecture slides in pdf format will be available on the unit web page on a weekly basis. It is suggested that you bring a copy of the lecture slides to each class and make any additional notes you think are important.

Tutorials will commence in week 2. The purpose of tutorials is to provide an interactive learning environment in which students will practise the materials covered in lectures. You are required to prepare the weekly tutorial questions before attending the tutorial. these will assist you for the in-class handouts that will count towards your final assessment as well as prpeare you for the types of questions in the final examination. It is suggested you bring your tetxbook to class. Selected solutions to tutorial questions will be available on the unit web page on a weekly basis. You are expected to study the solutions prvided and compare them with your own attempts. If you are experiencing difficulties then it is suggested you attend PAL sessions or consultations provided for this unit.

Unit Schedule

Week &

Lecture

Lecture Week

Commencing

 Topic Text Topic Number
1 25th February

Revision of Important

Financial Accounting Concepts

(HEM) Chapters

4,5,18,19 &20
2 4th March Accounting Regulation and Conceptual Framework

(HEM) Chapter 17

3 11th March Non-current assets

(HEM) Chapter 21

4 18th March Accounting for Liabilities

(HEM) Chapter 22

5 25th March

Equity in Business - Partnerhsips

(no Friday Classes)

(HEM) Chapter 15

6 2nd April

Equity in Business - Companies

(Part 1) (No Monday classes)

(HEM) Chapter 16

7 8th April

Equity in Business - Companies

(Part 2)

(HEM) Chapter 16

  13-28 April Mid-semester break no classes  
8 29th April Financial Statement Analysis

(HEM) Chapter 25

9 6th May Accounting for GST

(HEM) Chapter 3 Appendix 
10 13th May Introduction to Management Accounting

(HEM) Chapter 8

11 20th May Cost-volume-profit analysis

(HEM) Chapter 11

12 27th May Budgeting

(HEM) Chapter 12

13 3rd June Revision  
    Lecturer: Bill blair  

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://www.mq.edu.au/policy/docs/academic_honesty/policy.html

Assessment Policy  http://www.mq.edu.au/policy/docs/assessment/policy.html

Grading Policy http://www.mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://www.mq.edu.au/policy/docs/gradeappeal/policy.html

Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html

Special Consideration Policy http://www.mq.edu.au/policy/docs/special_consideration/policy.html

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Academic Honesty

The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:

  • all academic work claimed as original is the work of the author making the claim
  • all academic collaborations are acknowledged
  • academic work is not falsified in any way
  • when the ideas of others are used, these ideas are acknowledged appropriately.

Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html

Grades

Macquarie University uses the following grades in coursework units of study:

  • HD - High Distinction
  • D - Distinction
  • CR - Credit
  • P - Pass
  • F - Fail

Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:

http://www.mq.edu.au/policy/docs/grading/policy.html

Grading Appeals and Final Examination Script Viewing

If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.

http://www.businessandeconomics.mq.edu.au/new_and_current_students/undergraduate_current_students/how_do_i/grade_appeals/

Special Consideration Policy

The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that there may be circumstances where a student is prevented by unavoidable disruption from performing in accordance with their ability. A special consideration policy exists to support students who experience serious and unavoidable disruption such that they do not reach their usual demonstrated performance level. The policy is available at:

http://www.mq.edu.au/policy/docs/special_consideration/policy.html 

Student Support

Macquarie University provides a range of Academic Student Support Services. Details of these services can be accessed at: http://students.mq.edu.au/support/

UniWISE provides:

  • Online learning resources and academic skills workshops http://www.students.mq.edu.au/support/learning_skills/
  • Personal assistance with your learning & study related questions.
  • The Learning Help Desk is located in the Library foyer (level 2).
  • Online and on-campus orientation events run by Mentors@Macquarie.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

Details of these services can be accessed at http://www.student.mq.edu.au/ses/.

IT Help

If you wish to receive IT help, we would be glad to assist you at http://informatics.mq.edu.au/help/. 

When using the university's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students and it outlines what can be done.

Graduate Capabilities

Capable of Professional and Personal Judgement and Initiative

We want our graduates to have emotional intelligence and sound interpersonal skills and to demonstrate discernment and common sense in their professional and personal judgement. They will exercise initiative as needed. They will be capable of risk assessment, and be able to handle ambiguity and complexity, enabling them to be adaptable in diverse and changing environments.

This graduate capability is supported by:

Learning outcomes

  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • acquired knowledge of the role of a professional accountant and the importance of professional development.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Assessment tasks

  • 1. Assessed Coursework
  • 2. Class test
  • 3. Assignment
  • 4. Final Examination

Discipline Specific Knowledge and Skills

Our graduates will take with them the intellectual development, depth and breadth of knowledge, scholarly understanding, and specific subject content in their chosen fields to make them competent and confident in their subject or profession. They will be able to demonstrate, where relevant, professional technical competence and meet professional standards. They will be able to articulate the structure of knowledge of their discipline, be able to adapt discipline-specific knowledge to novel situations, and be able to contribute from their discipline to inter-disciplinary solutions to problems.

This graduate capability is supported by:

Learning outcomes

  • acquired basic knowledge of the regulatory framework, corporate governance, professional judgement and ethics in accounting.
  • practical skills to account for liabilities, and equity related to partnerships and companies.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Assessment tasks

  • 1. Assessed Coursework
  • 2. Class test
  • 4. Final Examination

Critical, Analytical and Integrative Thinking

We want our graduates to be capable of reasoning, questioning and analysing, and to integrate and synthesise learning and knowledge from a range of sources and environments; to be able to critique constraints, assumptions and limitations; to be able to think independently and systemically in relation to scholarly activity, in the workplace, and in the world. We want them to have a level of scientific and information technology literacy.

This graduate capability is supported by:

Learning outcomes

  • acquired knowledge of the role of a professional accountant and the importance of professional development.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Assessment tasks

  • 1. Assessed Coursework
  • 2. Class test
  • 3. Assignment
  • 4. Final Examination

Problem Solving and Research Capability

Our graduates should be capable of researching; of analysing, and interpreting and assessing data and information in various forms; of drawing connections across fields of knowledge; and they should be able to relate their knowledge to complex situations at work or in the world, in order to diagnose and solve problems. We want them to have the confidence to take the initiative in doing so, within an awareness of their own limitations.

This graduate capability is supported by:

Learning outcomes

  • acquired knowledge of the role of a professional accountant and the importance of professional development.
  • practical skills to account for liabilities, and equity related to partnerships and companies.
  • ability to analyse and interpret financial information.
  • acquired knowledge of various costing and budgeting techniques in management accounting at introductory level

Assessment tasks

  • 3. Assignment
  • 4. Final Examination

Research and Practice

  • This unit uses research from external sources.
  • This unit gives you practice in applying research findings in your assignments.
  • This unit gives you opportunities to conduct your own research