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 technical aspects of accounting in Australia. You will gain a sound understanding and knowledge of the core accounting concepts for preparing financial statements. This unit introduces you to the ethical requirements for accountants in Australia. You will also learn the foundation principles and concepts of accounting, especially the accounting equation and accrual accounting and learn how to analyse and interpret the financial statements.

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 - 2018

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 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 Unit coordinator's reflections

Feedback

Need for ethical decision questions based on practical scenarios and excel exercises

Recommendation

Add more ethical decision questions and excel exercises

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Define accounting and identify the users of accounting information and prepare the financial statements
  2. Demonstrate mastery of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes
  3. Apply, evaluate and report on the ethical requirements for accountants in Australia
  4. Communicate effectively about the core accounting concepts and ethical requirements, with professionals and non-professionals
  5. Correctly analyse and interpret the financial information contained within financial statements through the use of appropriate financial ratios, and provide professionally written reports on the results of those analyses.
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 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 Assessment - 30%
2 - Online Test - 10%
3 - Examination - 60%
Textbooks and Resources

Textbooks

Prescribed

Horngren's Financial Accounting 8th edn (2015)

Authors: Nobles, Mattison, Matsumura, Best, Fraser, Tan, Willett
Pearson Australia
Sydney Sydney , NSW , Australia
ISBN: 9781486021161
Binding: eBook

Additional Textbook Information

If you prefer a paper copy, they 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)
  • 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
Richard Goldman Unit Coordinator
r.goldman@cqu.edu.au
Schedule
Week 1 Begin Date: 05 Nov 2018

Module/Topic

The role of accounting in decision making

Chapter

1

Events and Submissions/Topic


Week 2 Begin Date: 12 Nov 2018

Module/Topic

Recording Business Decisions

Chapter

2

Events and Submissions/Topic

Form Groups of 5 for Practical Assessment Tasks to be assessed in Weeks 3 to 12

Week 3 Begin Date: 19 Nov 2018

Module/Topic

The adjusting process

Chapter

3

Events and Submissions/Topic

Group work - Practical and written assessment

Week 4 Begin Date: 26 Nov 2018

Module/Topic

Completing the accounting cycle

Chapter

4

Events and Submissions/Topic

Group work - Practical and written assessment

Vacation Week Begin Date: 03 Dec 2018

Module/Topic

Vacation Week

Chapter

Vacation Week

Events and Submissions/Topic

Vacation Week

Week 5 Begin Date: 10 Dec 2018

Module/Topic

Retailing operations

Chapter

5

Events and Submissions/Topic

Group work - Practical and written assessment

Week 6 Begin Date: 17 Dec 2018

Module/Topic

Retail inventory

Chapter

6

Events and Submissions/Topic

Group work - Practical and written assessment

Week 7 Begin Date: 31 Dec 2018

Module/Topic

Internal Control and Cash

Chapter

8

Events and Submissions/Topic

Group work - Practical and written assessment

Week 8 Begin Date: 07 Jan 2019

Module/Topic

Receivables

Chapter

9

Events and Submissions/Topic

Group work - Practical and written assessment

Week 9 Begin Date: 14 Jan 2019

Module/Topic

Non-current assets property, plant
and equipment, and intangibles

Chapter

10

Events and Submissions/Topic

Group work - Practical and written assessment


Online test Due: Week 9 Friday (18 Jan 2019) 5:00 pm AEST
Week 10 Begin Date: 21 Jan 2019

Module/Topic

Current liabilities and payroll

Chapter

11

Events and Submissions/Topic

Group work - Practical and written assessment

Week 11 Begin Date: 28 Jan 2019

Module/Topic

Financial Statement Analysis

Chapter

18

Events and Submissions/Topic

Group work - Practical and written assessment

Week 12 Begin Date: 04 Feb 2019

Module/Topic

Unit Revision

Chapter

Revision as per exam advice

Events and Submissions/Topic

Group work - Practical and written assessment

Exam Week Begin Date: 11 Feb 2019

Module/Topic

Chapter

Events and Submissions/Topic


Assessment Tasks

1 Practical Assessment

Assessment Title
Written Assessment and Group Presentation

Task Description

This assessment is done in groups of five students over 10 weeks, starting from week 3 to week 12, Distance students are allowed to complete the assessment task individually.
Each group submits excel solutions to the assigned questions every alternate week (ie up to 2 marks x 5 submissions = up to 10 marks).
Further, each group verbally presents answers to assigned questions every alternate week (ie up to 4 marks x 5 verbal presentations = up to 20 marks).
Total Marks for Written Assessment and Group Presentation is 30 marks.


Assessment Due Date

5 Excel Submissions with group cover page via Moodle on alternate Weeks


Return Date to Students

Results available via Moodle


Weighting
30%

Assessment Criteria

Students will be assessed on two criteria for written work:

1. Completion and Accuracy

2. Appropriate use of Formats


Students will be assessed on two criteria for presentation work:

1. Oral Communication of Theoretical Concept/ Practical Application//Demonstration//Reasoning
2. Language/Communication/Presentation skills


Referencing Style

Submission
Online Group

Submission Instructions
Submissions are to be provided via moodle by one student on behalf of their group and include a completed cover page and an excel spreadsheet.

Learning Outcomes Assessed
  • Define accounting and identify the users of accounting information and prepare the financial statements
  • Demonstrate mastery of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes
  • Apply, evaluate and report on the ethical requirements for accountants in Australia
  • Communicate effectively about the core accounting concepts and ethical requirements, with professionals and non-professionals
  • Correctly analyse and interpret the financial information contained within financial statements through the use of appropriate financial ratios, and provide professionally written reports on the results of those analyses.


Graduate Attributes
  • Knowledge
  • Communication

2 Online Test

Assessment Title
Online test

Task Description

On-line test: This is an individual assessment task. Online test will open at 9:00 on the Monday of week 9 and close at 17:00 on Friday of week 9. This assessment covers the content from week 1 to week 8. The test consists of multiple choice questions which may be theoretical, conceptual, and /or practical. Only one attempt at the online test is permitted and it must be completed within the required time frame. 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 (18 Jan 2019) 5:00 pm AEST


Return Date to Students

Week 9 Friday (18 Jan 2019)

Results will be made available via moodle


Weighting
10%

Assessment Criteria

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


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • Define accounting and identify the users of accounting information and prepare the financial statements
  • Demonstrate mastery of core accounting concepts, such as accrual accounting, by correctly applying these concepts to contemporary business problems, and reporting on the outcomes
  • Apply, evaluate and report on the ethical requirements for accountants in Australia


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).
Calculator - non-programmable, no text retrieval, silent only
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?