CQUniversity Unit Profile
ACCT11081 Term 2 - 2020
Introductory Financial Accounting
All details in this unit profile for ACCT11081 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

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

Career Level: Undergraduate
Unit Level: Level 1
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

Pre-requisite: ACCT11059 or ACCT11057 Anti-requisite: ACCT19084

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 2 - 2020

Brisbane
Bundaberg
Cairns
Gladstone
Mackay
Melbourne
Online
Rockhampton
Sydney
Townsville

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).

Class and Assessment Overview

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

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Online Quiz(zes)
Weighting: 5%
2. Written Assessment
Weighting: 45%
3. Take Home Exam
Weighting: 50%

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.

Previous Student Feedback

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback from Student feedback

Feedback

It would be great if one of the weekly tutorials/workshops could be videoed as well as the weekly lecture.

Recommendation

We will include videos of the weekly workshops on Moodle.

Feedback from Student feedback

Feedback

It would be great if we could have a video to support Steps 4 and 5 of the Assignment.

Recommendation

We will include videos to support Steps 4 and 5 of the Assignment on Moodle.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Describe the accounting conceptual framework as it applies to specific financial reports
  2. Apply the accounting conceptual framework to the measurement of the elements of accounting
  3. Examine how financial statements are analysed and interpreted for effective decision making
  4. Interact effectively with peers.
Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Quiz(zes) - 5%
2 - Written Assessment - 45%
3 - Take Home Exam - 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

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
1 - Online Quiz(zes) - 5%
2 - Written Assessment - 45%
3 - Take Home Exam - 50%
Textbooks and Resources

Textbooks

There are no required textbooks.

Additional Textbook Information

The key readings for the unit are the Study Guide materials which are provided on Moodle.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Word
  • Excel
  • MYOB AccountRight Plus v19 or MYOB Essentials/Account Edge for Mac users
Referencing Style

All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)

For further information, see the Assessment Tasks.

Teaching Contacts
Martin Turner Unit Coordinator
m.turner@cqu.edu.au
Schedule
Week 1 Begin Date: 13 Jul 2020

Module/Topic

Introduction

Chapter

Study Guide Chap 1

Events and Submissions/Topic

Study Guide: Chap 1: Sections 1.1-1.3

Start PeerWise: register and start writing and answering questions on the readings this week; in particular on Study Guide Chap 1 Sections 1.1-1.3

Find out your Company in Moodle: Friday Week 1, 5:00PM AEST

ASS Step 1 Due (see Moodle for assessment due date)

Week 2 Begin Date: 20 Jul 2020

Module/Topic

Double-Entry Bookkeeping

Chapter

Study Guide Chap 1, 2

Events and Submissions/Topic

Study Guide: Chap 1 Section 1.4; Chap 2

PeerWise: write, answer, rate and comment on questions on the readings this week; in particular on Study Guide Chap 1 Section 1.4; and Chap 2

Week 3 Begin Date: 27 Jul 2020

Module/Topic

Double-Entry Bookkeeping

Chapter

Study Guide Chap 2, 3

Events and Submissions/Topic

Study Guide Chap 2, 3

PeerWise: write, answer, rate and comment on questions on the readings this week

ASS Step 2 Due (see Moodle for assessment due date)

Week 4 Begin Date: 03 Aug 2020

Module/Topic

Double-Entry Bookkeeping

Chapter

Study Guide Chap 3

Events and Submissions/Topic

Study Guide: Chap 3

PeerWise: write, answer, rate and comment on questions on the readings this week 

ASS Step 6: Post draft (see Moodle for assessment due date)

Week 5 Begin Date: 10 Aug 2020

Module/Topic

Inventories

Chapter

Study Guide Chap 4

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 4

ASS Step 6: Make sure you have given feedback to others by the due date. (See Moodle for assessment due date.). Work on ASS Step 7.

Vacation Week Begin Date: 17 Aug 2020

Module/Topic


Chapter


Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 4, 5

ASS Steps 3-6 Due (see Moodle for assessment due date).

Week 6 Begin Date: 24 Aug 2020

Module/Topic

Accounting Systems: MYOB

Chapter

There are no readings for this week. You will need to use your time to focus on setting up and learning to use MYOB.

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Chap 5. Work on ASS Step 8.

Week 7 Begin Date: 31 Aug 2020

Module/Topic

Receivables

Chapter

Study Guide Chap 5

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 5. Work on ASS Step 9.

Week 8 Begin Date: 07 Sep 2020

Module/Topic

Non-Current Assets

Chapter

Study Guide Chap 5

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 5. Work on ASS Step 10.

Week 9 Begin Date: 14 Sep 2020

Module/Topic

Liabilities

Chapter

Study Guide Chap 6

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 6 ASS Step 11: Post draft (see Moodle for assessment due date).

Week 10 Begin Date: 21 Sep 2020

Module/Topic

Statement of Cash Flows

Chapter

Study Guide Chap 7

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 7 ASS Step 11: Make sure you have given feedback to others by the due date. (See Moodle for assessment due date.)

Exam advice available in Moodle in Week 10.

Week 11 Begin Date: 28 Sep 2020

Module/Topic

Equity

Chapter

Study Guide Chap 8

Events and Submissions/Topic

PeerWise: write, answer, rate and comment on questions on Study Guide Chap 8


Assignment Due: Week 11 Tuesday (29 Sep 2020) 11:00 am AEST
Week 12 Begin Date: 05 Oct 2020

Module/Topic

Revision

Chapter


Events and Submissions/Topic


Review/Exam Week Begin Date: 12 Oct 2020

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 19 Oct 2020

Module/Topic


Chapter


Events and Submissions/Topic


Assessment Tasks

1 Online Quiz(zes)

Assessment Title
Peerwise

Task Description

We will be using PeerWise as a place for you to create, share and evaluate questions with others in the unit. PeerWise is designed to be used each week throughout the unit. Each week, PeerWise will support you to read the Study Guide (that's right, each week), write multiple choice questions from your reading (including solutions), answer others questions and rate others questions. You can also comment on people’s questions, and people can then comment on your comments and so on.

You should aim to write at least 2-3 questions each week and answer (and rate) 20 – 30 questions each week. It is a big advantage in PeerWise to start early in the unit; and to write high quality questions (and solutions). Typically, on average, people will write about 25-30 questions during the unit and answer/rate about 250-300 questions. Some people will do much more; and others less.

Start by looking at the video "Tips on Using PeerWise" visiting PeerWise here. If you have not used PeerWise before, please click the "Registration" link and follow the prompts. All you need to do is choose a user name and a password for your PeerWise account. If you have used PeerWise before, simply log in and then select "Join a course" from the Home menu.

You will need to follow the information provided on Moodle in order to access PeerWise for our unit this term as we have a unique Course ID for this term.


Number of Quizzes


Frequency of Quizzes


Assessment Due Date

Peerwise closes at 5pm AEST on Thursday in Week 11. There is no need to submit anything concerning PeerWise in Moodle.


Return Date to Students

Peerwise is to be completed in the external Peerwise system. Your Peerwise score will manually be transferred to Moodle before the end of term by the Unit Coordinator.


Weighting
5%

Assessment Criteria

As you contribute to PeerWise, you will accumulate a Reputation score calculated in the software which is composed of three parts: · writing questions (Questioning) · answering questions (Answering), and · rating questions you have answered (Rating).

To achieve a high score it is much better to have good scores for each of the three components than a very high score in just one (or two) components. It is particularly important not to have a zero (or near zero) score for any of the three components. Answering and Rating scores at a similar level and your Questioning score at about one-tenth of your Answering and Rating scores can be a good balance. For example, a score of Questioning: 175; Answering: 1,750; and Rating: 1,750.

You can see your score in the top right-hand corner of PeerWise. We use the Reputation score (not the Answer score).

You will gain a mark out of 5 for your PeerWise contribution. This will be calculated according to the Peerwise grading guidelines available on Moodle.

The Unit Co-ordinator reserves the right to adjust the mark of any student if they engage in inappropriate behaviour on PeerWise. Inappropriate behaviour might include: · Bullying, harassing or being rude to any other student. · Contributing questions flagged as being easy, for example as ‘Easy’ or ‘Questions for Dummies’. · Marking correct answers in bold or with other marks. · Copying other student’s questions and contributing them onto PeerWise as your own (although it is understood that different students may independently contribute similar or even identical questions at times, and this is perfectly alright).

Please report to the Unit Co-ordinator any inappropriate behaviour on PeerWise.


Referencing Style

Submission

No submission method provided.


Learning Outcomes Assessed
  • 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


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking

2 Written Assessment

Assessment Title
Assignment

Task Description

The assignment for this unit is made up of eleven (11) steps.

As you complete each step, you will find your company’s annual reports and have a look at them. You will practice aspects of the recording process using Excel. You will then create a Trial Balance from your company’s financial statements, and explore its Inventory and Depreciation policies.

You will also have the opportunity of creating a set of business transactions for your company, recording these in MYOB software and producing a set of financial statements using MYOB. As well, you will have the opportunity to experience how interacting with others in the unit may be able to help you to better understand the concepts we will be studying.


Assessment Due Date

Week 11 Tuesday (29 Sep 2020) 11:00 am AEST


Return Date to Students

Within two weeks from the due date of the assignment (or from submission date for late assignments).


Weighting
45%

Assessment Criteria

The assignment will be marked for accuracy and inclusion of answers, as follows:

Step 1 (KCQ’s) will be marked out of 2 marks

Step 2 (KCQ’s) will be marked out of 2 marks

Step 3 (company information) will be marked out of 3 marks

Step 4 (recording process) will be marked out of 5 marks

Step 5 (trial balance) will be marked out of 6 marks

Step 6 (individual feedback given) will be marked out of 2 marks

Step 7 (inventory) will be marked out of 5 marks

Step 8 (MYOB training) will be marked out of 5 marks

Step 9 (MYOB transactions) will be marked out of 8 marks

Step 10 (depreciation) will be marked out of 5 marks

Step 11 (individual feedback given) will be marked out of 2 marks

TOTAL = 45 marks


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • 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.


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking
  • Team Work

3 Take Home Exam

Assessment Title
TAKE HOME EXAM

Task Description

No Assessment Task Description


Assessment Due Date

During the University examination period


Return Date to Students

Within two weeks from the date of the Take Home Exam


Weighting
50%

Assessment Criteria

No Assessment Criteria


Referencing Style

Submission

No submission method provided.


Learning Outcomes Assessed
  • 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


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking

Academic Integrity Statement

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.

What can you do to act with integrity?

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.