CQUniversity Unit Profile
ACCT20070 Accounting in Australia
Accounting in Australia
All details in this unit profile for ACCT20070 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 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

Career Level: Postgraduate
Unit Level: Level 8
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

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 3 - 2017

Brisbane
Distance
Melbourne
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 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

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

Assessment Overview

1. Practical and Written Assessment
Weighting: 30%
2. Online Test
Weighting: 10%
3. Examination
Weighting: 60%

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 survey

Feedback

An Australian-based textbook would be preferred.

Recommendation

A new Australian-based textbook will be used from T1, 2018.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Define accounting, and identify its various uses
  2. Critically evaluate and report on the uses and users of accounting information in Australia
  3. Critically evaluate and report on the conceptual framework for accounting, as it is applied in Australia
  4. Critically evaluate and report on the ethical requirements for accountants in Australia
  5. 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 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 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

Alignment of Assessment Tasks to Graduate Attributes

Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Practical and Written Assessment - 30%
2 - Online Test - 10%
3 - Examination - 60%
Textbooks and Resources

Textbooks

Prescribed

Financial Accounting 9th (2014)

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
John Wiley and Sons
QLD , Australia
ISBN:
Binding: Hardcover

Additional Textbook Information

Students can choose any one of the following options:
Wiley E-Text : Financial Accounting, 9th Edition. ISBN : 978-1-118-79669-6. 864 pages, October 2013, ©2014. AUD $55.00 (Subject to Change)
Paperback: Financial Accounting 9E Binder Ready Version with WileyPLUS Card Set. ISBN :978-1-118-85516-4, February 2014, ©2014.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft Excel
  • Microsoft Word
Referencing Style

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.

Teaching Contacts
Ann Sardesai Unit Coordinator
a.sardesai@cqu.edu.au
Schedule
Week 1 Begin Date: 06 Nov 2017

Module/Topic

What is accounting?

Chapter

1

Events and Submissions/Topic

Week 2 Begin Date: 13 Nov 2017

Module/Topic

Recording transactions

Chapter

2

Events and Submissions/Topic

Week 3 Begin Date: 20 Nov 2017

Module/Topic

When to record transactions Recording goods bought for sale, freight costs, returns and allowances, and discounts

Chapter

3 5

Events and Submissions/Topic

Group work Practical and written assessment
Week 4 Begin Date: 27 Nov 2017

Module/Topic

Accounting for retailing

Chapter

6 (from John Hoggett's Text book)

Events and Submissions/Topic

Group work Practical and written assessment
Vacation Week Begin Date: 04 Dec 2017

Module/Topic

Vacation Week

Chapter

Vacation Week

Events and Submissions/Topic

Vacation Week
Week 5 Begin Date: 11 Dec 2017

Module/Topic

Preparing financial statements in a retail company

Chapter

5

Events and Submissions/Topic

Group work Practical and written assessment
Week 6 Begin Date: 18 Dec 2017

Module/Topic

Current asset - Taking care of assets and cash

Chapter

7

Events and Submissions/Topic

Group work Practical and written assessment
Week 7 Begin Date: 01 Jan 2018

Module/Topic

Current asset - The Receivables

Chapter

8

Events and Submissions/Topic

Group work Practical and written assessment
Week 8 Begin Date: 08 Jan 2018

Module/Topic

Non current assets

Chapter

9

Events and Submissions/Topic

Group work Practical and written assessment
Week 9 Begin Date: 15 Jan 2018

Module/Topic

Liabilities - Owing to others

Chapter

10

Events and Submissions/Topic

Group work Practical and written assessment Online Test due Friday (21 Jan 18) 05:00 PM AEST
online test Due: Week 9 Friday (19 Jan 2018) 5:00 pm AEST
Week 10 Begin Date: 22 Jan 2018

Module/Topic

Shareholder's equity - owing to owners

Chapter

11

Events and Submissions/Topic

Group work Practical and written assessment
Week 11 Begin Date: 29 Jan 2018

Module/Topic

Conducting a financial health check

Chapter

14

Events and Submissions/Topic

Group work Practical and written assessment
Week 12 Begin Date: 05 Feb 2018

Module/Topic

Unit revision

Chapter

Unit revision

Events and Submissions/Topic

Group work Practical and written assessment
Review/Exam Week Begin Date: 12 Feb 2018

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 12 Feb 2018

Module/Topic

Chapter

Events and Submissions/Topic

Assessment Tasks

1 Practical and Written Assessment

Assessment Title
Written assessment and group presentation

Task Description

The 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.


Assessment Due Date

This is a weekly written and group presentation commencing from Week 3 through to Week 12. More details are available on Moodle site


Return Date to Students

The assignments will be graded and feed back will be provided one week after submission.


Weighting
30%

Assessment Criteria

Marks are awarded for the accuracy, completeness and satisfactory explanation of assigned workshop questions.


Referencing Style

Submission
Offline Online Group

Submission Instructions
On campus students will submit in workshops. Flex students will upload on moodle,

Learning Outcomes Assessed
  • 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.


Graduate Attributes
  • Knowledge
  • Communication
  • Cognitive, technical and creative skills
  • Ethical and Professional Responsibility

2 Online Test

Assessment Title
online test

Task Description

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 at 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.


Assessment Due Date

Week 9 Friday (19 Jan 2018) 5:00 pm AEST

Online test will open at 9:00 AEST on Monday (15.01.18) and close at 17:00 AEST on Friday (19.01.18).


Return Date to Students

Results will be made available in Moodle within one week after the due date of online test.


Weighting
10%

Assessment Criteria

The online test shall be assessed on the basis of accuracy and completeness of the answers.


Referencing Style

Submission
Online

Submission Instructions
On line submission. Online test will open at 9:00 AEST on Monday (15.01.18) and close at 17:00 AEST on Friday (19.01.18).

Learning Outcomes Assessed
  • 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.


Graduate Attributes
  • Knowledge

Examination

Outline
Complete an invigilated examination

Date
During the examination period, at a CQUniversity examination centre

Weighting
60%

Length
180 minutes

Details
Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Closed Book
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?