Overview
This unit introduces you to the theory and practice of accounting in Australia. You will gain a foundation knowledge of the conceptual framework, the Australian regulatory environment for accounting, and the ethical requirements of those who practice accounting. You will also learn the foundation principles and concepts of accounting, especially the accounting equation and accrual accounting.
Details
Pre-requisites or Co-requisites
There are no requisites for this unit.
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 - 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 Postgraduate 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.
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 survey
An Australian-based textbook would be preferred.
A new Australian-based textbook will be used from T1, 2018.
- Define accounting, and identify its various uses
- Critically evaluate and report on the uses and users of accounting information in Australia
- Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia
- Critically evaluate and report on the ethical requirements for accountants in Australia
- Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.
Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks | Learning Outcomes | ||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | |
1 - Practical and Written Assessment - 30% | |||||
2 - Online Test - 10% | |||||
3 - Examination - 60% |
Alignment of Graduate Attributes to Learning Outcomes
Graduate Attributes | Learning Outcomes | ||||
---|---|---|---|---|---|
1 | 2 | 3 | 4 | 5 | |
1 - Knowledge | |||||
2 - Communication | |||||
3 - Cognitive, technical and creative skills | |||||
4 - Research | |||||
5 - Self-management | |||||
6 - Ethical and Professional Responsibility | |||||
7 - Leadership | |||||
8 - 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 | |
1 - Practical and Written Assessment - 30% | ||||||||
2 - Online Test - 10% | ||||||||
3 - Examination - 60% |
Textbooks
Financial Accounting
Edition: 9th (2014)
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
John Wiley and Sons
QLD , Australia
Binding: Hardcover
Additional Textbook Information
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Excel
- Microsoft Word
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.kansal@cqu.edu.au
Module/Topic
What is accounting?
Chapter
1
Events and Submissions/Topic
Module/Topic
Recording transactions
Chapter
2
Events and Submissions/Topic
Module/Topic
When to record transactions
Chapter
3
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Recording goods bought for sale, freight costs, returns and allowances, and discounts
Accounting for retailing
Chapter
5
6 (From John Hoggett's Text Book)
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Preparing financial statements in a retail company
Chapter
5
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Current asset - Taking care of assets and Cash
Chapter
7
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Current asset – The Receivables
Chapter
8
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Non current assets
Chapter
9
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Liabilities
- Owing to others
Chapter
10
Events and Submissions/Topic
Group work
Practical and written assessment
Online Test Due: Week 9 Friday (15 Sept 2017) 5:00 pm AEST
Module/Topic
Shareholders’ equity
– owing to owners
Chapter
11
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Conducting a financial health check
Chapter
14
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Unit revision
Chapter
Unit revision
Events and Submissions/Topic
Group work
Practical and written assessment
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Practical and Written Assessment
This assignment requires students to demonstrate an understanding of the basic principles of accounting. The students are required to solve accounting questions. They submit answers in written form and give presentation during the class. Flex students submit written work and give their presentations online. Further details are available on Moodle. This is a group assignment.
Details on the Moodle site
The assignments will be graded and feedback will be provided one week after submission.
Marks are awarded for the accuracy, completeness and satisfactory explanation of assigned workshop questions.
- Define accounting, and identify its various uses
- Critically evaluate and report on the uses and users of accounting information in Australia
- Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia
- Critically evaluate and report on the ethical requirements for accountants in Australia
- Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Ethical and Professional Responsibility
2 Online Test
On-line test: Week 9
This is an individual assessment task. Online test will open at 9:00 AEST on Monday of the scheduled week and close on 17:00 AEST on Friday of that week.This is assessed on the basis of content taught from week 1 to week 8.The test consists of 25 multiple choice questions which may be theoretical, conceptual, and/or practical. The online test must be completed during the times that they are open. In the absence of an approved extension, there will be no opportunity to complete the online test after it closes. Further details will be available on Moodle.
Week 9 Friday (15 Sept 2017) 5:00 pm AEST
Results will be made available in Moodle within one week after the due date of online test.
The online test shall be assessed on the basis of accuracy and completeness of the answers.
- Define accounting, and identify its various uses
- Critically evaluate and report on the uses and users of accounting information in Australia
- Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia
- Critically evaluate and report on the ethical requirements for accountants in Australia
- Demonstrate understanding of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes.
- Knowledge
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.