Overview
This unit introduces you to key concepts of financial accounting and supports you to apply these concepts to various elements of accounting. You will also examine financial statements and how they are analysed and interpreted for effective decision making by both internal and external users. This unit prepares you for further accounting units.
Details
Pre-requisites or Co-requisites
Pre-requisite: ACCT11059 or ACCT11057
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 1 - 2017
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making
- Interact effectively with peers.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Online Quiz(zes) - 20% | ||||
| 2 - Written Assessment - 30% | ||||
| 3 - Examination - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Online Quiz(zes) - 20% | ||||||||||
| 2 - Written Assessment - 30% | ||||||||||
| 3 - Examination - 50% | ||||||||||
Textbooks
Accounting
Edition: 9th edn (2015)
Authors: Hoggett, Medlin, Edwards, Chalmers, Hellmann, Beattie & Maxfield
Wiley
Milton Milton , Queensland , Australia
ISBN: 9781118608227
Binding: Hardcover
Wipeout Water World: An Accounting Practice Set Using MYOB AccountRight v19 (Pearson Original Edition)
Edition: 1st (2014)
Authors: Brown, Marian
Pearson
Frenchs Forest Frenchs Forest , NSW , Australia
ISBN: 9781486022922
Binding: Hardcover
Additional Textbook Information
The Accounting 9th edition textbook can be purchased as an e-book directly from the online Wiley website at http://www.wileydirect.com.au/buy/accounting-9th-edition/
The e-book is usually cheaper than the hard copy textbook.
Students MUST obtain the current version of the MYOB Practice Set as those from previous terms cannot be used in this term.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Excel
- Microsoft Word
- MYOB Accountright Plus v19
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
m.tyler@cqu.edu.au
Module/Topic
Chapter
17
Events and Submissions/Topic
Assessment Task 1 (online quiz in WileyPlus) will open at 9am AEST on Monday of Week 1.
Module/Topic
Receivables
Chapter
18
Events and Submissions/Topic
Module/Topic
Inventories
Chapter
19
Events and Submissions/Topic
Module/Topic
Partnerships
Chapter
15
Events and Submissions/Topic
Module/Topic
Accounting Systems: MYOB
Chapter
7, pp. 312-317 and the Practice Set (part of your required textbooks for this unit) - you should complete the training portion of the Practice Set this week.
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
If you haven't already done so, now is a good time to complete your Assessment 1!
Module/Topic
Non-current Assets - acquisition and depreciation
Chapter
20
Events and Submissions/Topic
Module/Topic
Non-current Assets - revaluation, disposal and other aspects
Chapter
21
Events and Submissions/Topic
Module/Topic
Liabilities
Chapter
22
Events and Submissions/Topic
Module/Topic
Presentation of Financial Statements
Chapter
23
Events and Submissions/Topic
Module/Topic
Statement of Cash Flows
Chapter
24
Events and Submissions/Topic
Exam advice available in Moodle in Week 10.
Practical and Written Assessment Due: Week 10 Monday (15 May 2017) 11:00 am AEST
Module/Topic
Financial statement analysis
Chapter
25
Events and Submissions/Topic
Module/Topic
Revision
Chapter
Events and Submissions/Topic
Use the provided Exam Advice released in Moodle, along with the revision materials under the Week 12 resources in Moodle.
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
All students must complete this piece of assessment by doing one online quiz (timed).
Before you commence your quiz you MUST read the information relating to the online quiz found in the Assessment Box on the course website. The quiz is open book and should be completed individually.
The quiz will contain twenty (20) questions which will be either/or a combination of multiple choice, true/false or short answer questions. The questions relate to the textbook chapters as follows: Ch.17 - 5 questions, Ch.18 - 5 questions, Ch.19 - 5 questions, Ch.15 - 5 questions (covering the work from Weeks 1 through 4 inclusive). The questions are randomly generated so that all students should complete the quiz with different questions. Each question is worth 1 mark. You will be able to see your result immediately. Your total is out of twenty marks (worth 20% of the course total marks).
You will need a calculator as some of the questions may be practical.
The quiz is timed for sixty (60) minutes. Please pay particular attention to the time and ensure that you submit BEFORE your allocated time limit is up, otherwise you will be scored zero for that quiz.
You can only attempt the online quiz once. Each question can only be attempted once.
No extensions will be granted for the Quiz. This includes misreading of the quiz availability time period or commencing the term late. The online quiz cannot be deferred.
If you experience a technical problem, you MUST immediately document this (such as taking a screen shot or a photo on your mobile phone) and email this to your Unit Coordinator as soon as possible. You must document how far through the quiz you were at the time of the technical problem. The Unit Coordinator can confirm these details from the system. You should contact the WileyPlus technical support team for assistance in the first instance.
Students are strongly advised to print out and keep a copy of any documentation that proves you have sat this quiz. You do not have to send anything to the Unit Coordinator (or any other member of the teaching team) as the Unit Coordinator can access the results online, but in the unlikely event of technical problems you will have proof of the work you have completed.
You do not have to submit anything in Moodle for this assessment. The Unit Coordinator will transfer your result from WileyPlus to Moodle at the end of term, before your final exam.
1
Week 7 Monday (24 Apr 2017) 11:00 am AEST
Results are provided immediately after the test has been submitted in WileyPlus. Results will be transferred to Moodle at the end of term by the Unit Coordinator.
Students will be marked on the accuracy of the answers provided in the quiz.
- Describe the accounting conceptual framework as it applies to specific financial reports
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making
- Communication
- Problem Solving
- Critical Thinking
2 Written Assessment
This assignment is a practical assignment with a written component. Students are required to complete a computerised practice set using MYOB AccountRight Plus v19 (this practice set is one of your set text books and must be purchased - refer to the required textbooks information). Full details of this assessment item will be available in Moodle at the commencement of term, in the Assessment information box. You should be able to start this assignment after you have completed the work in Week 5. You can begin the assignment earlier if you complete Part A of the Practice Set earlier than Week 5. This assessment must be submitted electronically through Moodle. This assessment consists of three components: Step 1 is an individual reflection on technical content, Step 2 centres on key figures from the MYOB practice set, and Step 3 includes peer feedback. Ensure that you very carefully read the full details of this assessment item in Moodle.
Week 10 Monday (15 May 2017) 11:00 am AEST
Within two weeks from the due date of the assignment (or from submission date for late assessments).
Marking will be based on how accurately the MYOB accounting recording process has been followed as taught in the Practice Set. This is assessed through submitted key figures from reports generated as part of the Practice Set.
Marking for the written component will be based on the accuracy of answers provided according to the outlined assessment criteria in Moodle.
- Apply the accounting conceptual framework to the measurement of the elements of accounting
- Examine how financial statements are analysed and interpreted for effective decision making
- Interact effectively with peers.
- Communication
- Problem Solving
- Critical Thinking
- Team Work
Examination
Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
