CQUniversity Unit Profile
ACCT19062 Intermediate Financial Accounting
Intermediate Financial Accounting
All details in this unit profile for ACCT19062 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

In this unit you will examine a selection of Australian accounting standards that address fundamental issues in financial reporting. You commence with an analysis of the role of accounting standards in the regulation of financial reporting in Australia and the concepts in the Conceptual Framework for Financial Reporting. You then interpret and apply the requirements of the selected accounting standards to solve routine accounting problems. This unit develops your professional competence in accounting as well as preparing you for future participation in an international and dynamic professional accounting environment.

Details

Career Level: Undergraduate
Unit Level: Level 2
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

Pre-requisites or Co-requisites

Pre-requisite: ACCT19084 or ACCT11081

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 - 2023

Brisbane
Melbourne
Online
Sydney

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: 10%
2. Written Assessment
Weighting: 40%
3. Online Test
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 Reflection

Feedback

The content for Week 2 (reporting requirements of entities governed by the Corporations Act 2001) has been significantly reduced because of ongoing changes in the regulation of Australian financial reporting.

Recommendation

Combine Weeks 1 & 2 into a single module.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Explain the regulatory environment for financial reporting in Australia
  2. Apply and interpret the AASB’s Conceptual Framework for Financial Reporting
  3. Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
  4. Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.
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) - 10%
2 - Written Assessment - 40%
3 - Online Test - 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
Textbooks and Resources

Textbooks

Prescribed

Issues in Financial Accounting

16th Edition (2017)
Authors: Henderson, S, Peirson, G, Herbohn, K, Artiach, T & Howieson, B
Pearson Australia
Frenchs Forest Frenchs Forest , NSW , Australia
ISBN: 9781488611643
Binding: Paperback

Additional Textbook Information

Both paper and eBook versions are available at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the unit code).

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Word processing (Microsoft Office Word or similar)
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
David Keene Unit Coordinator
d.keene@cqu.edu.au
Annie Ding Unit Coordinator
a.ding@cqu.edu.au
Gerard Ilott Unit Coordinator
g.ilott@cqu.edu.au
Schedule
Week 1 Begin Date: 06 Mar 2023

Module/Topic

The regulation of financial reporting in Australia

Chapter

AASB 1053 Application of Tiers of Australian Accounting Standards

Events and Submissions/Topic

Assessment Task 1

Online Tests open 09:00 AEST Monday 6 March 2023

Week 2 Begin Date: 13 Mar 2023

Module/Topic

The conceptual framework for financial reporting

Chapter

Chapters 2 and 3

AASB Conceptual Framework for Financial Reporting

Events and Submissions/Topic


Week 3 Begin Date: 20 Mar 2023

Module/Topic

Financial statement presentation

Chapter

Chapters 6 and 14

AASB 101 Presentation of Financial Statements

IAS 1 Presentation of Financial Statements Implementation Guidance

Events and Submissions/Topic

Assessment Task 1

Online Tests close 21:00 AEST Friday 24 March 2023
Online Tests Due: Week 3 Friday (24 Mar 2023) 9:00 pm AEST
Week 4 Begin Date: 27 Mar 2023

Module/Topic

Accounting policies, estimates and errors

Chapter

Chapter 18

AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors

Events and Submissions/Topic


Week 5 Begin Date: 03 Apr 2023

Module/Topic

Revenue from contracts with customers

Chapter

Chapter 15

AASB 15 Revenue from Contracts with Customers

Events and Submissions/Topic


Vacation Week Begin Date: 10 Apr 2023

Module/Topic

Term break

Chapter

N/A

Events and Submissions/Topic


Week 6 Begin Date: 17 Apr 2023

Module/Topic

Fair value measurement

Provisions, contingent liabilities and contingent assets

Chapter

Chapter 4

AASB 13 Fair Value Measurement

IFRS 13 Fair Value Measurement Illustrative Examples

AASB 137 Provisions, Contingent Liabilities and Contingent Assets

Events and Submissions/Topic

Assessment Task 2

Written assessment (Part A) due by 23:45 AEST Wednesday 19 April 2023

Week 7 Begin Date: 24 Apr 2023

Module/Topic

Property, plant and equipment

Chapter

Chapter 8

AASB 116 Property, Plant and Equipment

Events and Submissions/Topic


Week 8 Begin Date: 01 May 2023

Module/Topic

Intangible assets

Chapter

Chapter 10

AASB 138 Intangible Assets

AASB 3 Business Combinations

Events and Submissions/Topic


Week 9 Begin Date: 08 May 2023

Module/Topic

Impairment of assets

Chapter

Chapter 8

AASB 136 Impairment of Assets

Events and Submissions/Topic

Assessment Task 2

Written assessment (Part B) due by 23:45 AEST Wednesday 10 May 2023

Week 10 Begin Date: 15 May 2023

Module/Topic

Leases

Chapter

Chapter 11

AASB 16 Leases

Events and Submissions/Topic


Week 11 Begin Date: 22 May 2023

Module/Topic

Employee benefits

Chapter

Chapter 12

AASB 119 Employee Benefits

Events and Submissions/Topic


Week 12 Begin Date: 29 May 2023

Module/Topic

Review and revision

Chapter


Events and Submissions/Topic


Review/Exam Week Begin Date: 05 Jun 2023

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 12 Jun 2023

Module/Topic


Chapter


Events and Submissions/Topic

Invigilated online test date TBA

Assessment Tasks

1 Online Quiz(zes)

Assessment Title
Online Tests

Task Description

This assessment task consists of two open-book online tests:

1. Online Test One:

  • Has a weighting of 5% of the total marks for the unit.
  • Assesses the content taught in Week 1 (The regulation of financial reporting in Australia).

2. Online Test Two:

  • Has a weighting of 5% of the total marks for the unit.
  • Assesses the content taught in Week 2 (The conceptual framework for financial reporting).


Online Test Availability

The two online tests will be available for three weeks as follows:

  • Open: 09:00 (9.00 AM) AEST on Monday of Week 1 (6 March 2023), and
  • Close: 21:00 (9.00 PM) AEST on Friday of Week 3 (24 March 2023).


Online Test Instructions

  • The online tests can be completed in any order. For example you can complete Online Test Two either before or after Online Test One.
  • Each online test consists of 20 multiple-choice questions.
  • The duration of each online test is 40 minutes from the time you start it.
  • You can make two attempts at each online test.
  • If you make a second attempt, then the highest mark out of the two attempts will be recorded as your final mark.
  • The online tests must be completed during the time that they are open. In the absence of an approved extension, there will be no opportunity to complete the online tests after they close.



Number of Quizzes

2


Frequency of Quizzes


Assessment Due Date

Week 3 Friday (24 Mar 2023) 9:00 pm AEST


Return Date to Students

Results will be available in Moodle immediately after the completion of each online test.


Weighting
10%

Assessment Criteria

Each question has one correct answer.

Each correctly answered question is awarded 0.25 marks.


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Explain the regulatory environment for financial reporting in Australia
  • Apply and interpret the AASB’s Conceptual Framework for Financial Reporting

2 Written Assessment

Assessment Title
Written Assessment

Task Description

This assessment task comprises two individual assignments:

1. Written assessment: Part A

  • Has a weighting of 20% of the total marks for the unit.
  • Is due by 23:45 (11:45 PM) AEST on Wednesday of Week 6 (19 April 2023).

2. Written assessment: Part B.

  • Has a weighting of 20% of the total marks for the unit.
  • Is due by 23:45 (11:45 PM) AEST on Wednesday of Week 9 (10 May 2023).

Full details of this assessment task will be available in Moodle at the commencement of the term. The information in Moodle will include the specific questions and the detailed assessment criteria.


Assessment Due Date

Part A is due 23:45 AEST on Wednesday 19 April 2023 (Week 6); Part B is due 23:45 AEST on Wednesday 10 May 2023 (Week 9)


Return Date to Students

You will receive your assignment back two weeks from the submission date.


Weighting
40%

Assessment Criteria

The assessment criteria (which will be available in Moodle) includes the following:

  • The relevant technical requirements and conceptual aspects of accounting pronouncements have been identified and appropriately interpreted.
  • The requirements of relevant accounting pronouncements, conceptual accounting knowledge, and (where applicable) professional judgement have been appropriately applied to solve routine accounting problems.


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Apply and interpret the AASB’s Conceptual Framework for Financial Reporting
  • Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
  • Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.

3 Online Test

Assessment Title
Invigilated Online Test

Task Description

This assessment task comprises an invigilated online test in Moodle.

The invigilated online test has a weighting of 50% of the total marks for the unit.

The invigilated online test will be scheduled during the university exam period.

You will be advised during the term of the scheduled date and time of the invigilated online test.

The invigilated online test will be conducted in accordance with the School of Business & Law's Invigilation Protocols.


Assessment Due Date

During the university examination period. Details to be provided via Moodle.


Return Date to Students

Marks will be released after approval of grades.


Weighting
50%

Assessment Criteria

No Assessment Criteria


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
  • Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.

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.

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?