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. 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 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 - 2021

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 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. Take Home Exam
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 Evaluation

Feedback

More class exercise would be helpful

Recommendation

Introduce a couple more questions for each weekly topic.

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. Work as a team leader and as part of a team to acquire new knowledge, or to identify and solve accounting related problems.
  4. 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
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
1 - Knowledge
2 - Communication
3 - Cognitive, technical and creative skills
4 - Research
5 - Self-management
6 - Ethical and Professional Responsibility
7 - Leadership
Textbooks and Resources

Textbooks

Prescribed

Financial Accounting 9th ()

Authors: Nobles, Mattison, Matsumura, Best, Fraser, Tan Willett
Pearson Australia
Melbourne Melbourne , VICTORIA , Australia
ISBN:
Binding: eBook

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
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
Robert Grose Unit Coordinator
r.grose@cqu.edu.au
Monika Kansal Unit Coordinator
m.kansal@cqu.edu.au
Schedule
Week 1 Begin Date: 08 Nov 2021

Module/Topic

The role of accounting in decision making

Chapter

One

Events and Submissions/Topic

Introduction to unit and assessments

Week 2 Begin Date: 15 Nov 2021

Module/Topic

Recording business transactions 

Chapter

Two

Events and Submissions/Topic

Week 3 Begin Date: 22 Nov 2021

Module/Topic

The adjusting process

Chapter

Three

Events and Submissions/Topic

The teaching staff will organise students into groups of 5 students (Maximum numbers of students allowed to be in a group) for written assessment and group presentation tasks. 

Week 4 Begin Date: 29 Nov 2021

Module/Topic

Completing the accounting cycle

Chapter

Four

Events and Submissions/Topic

Vacation Week Begin Date: 06 Dec 2021

Module/Topic


Chapter


Events and Submissions/Topic


Week 5 Begin Date: 13 Dec 2021

Module/Topic

Retailing operations

Chapter

Five

Events and Submissions/Topic

Week 6 Begin Date: 20 Dec 2021

Module/Topic

Retail inventory

Chapter

Six

Events and Submissions/Topic

Vacation Week Begin Date: 27 Dec 2021

Module/Topic


Chapter


Events and Submissions/Topic


Week 7 Begin Date: 03 Jan 2022

Module/Topic

Internal control and cash

Chapter

Eight

Events and Submissions/Topic

Week 8 Begin Date: 10 Jan 2022

Module/Topic

Receivables

Chapter

Nine

Events and Submissions/Topic

Week 9 Begin Date: 17 Jan 2022

Module/Topic

Non-current assets: Property, plant and equipment, and intangibles

Chapter

Ten

Events and Submissions/Topic

Group Written Task and Presentation Due: Week 9 Friday (21 Jan 2022) 5:00 pm AEST
Week 10 Begin Date: 24 Jan 2022

Module/Topic

Current liabilities and payroll

Chapter

Eleven

Events and Submissions/Topic

Online Quiz Due: Week 10 Friday (28 Jan 2022) 5:00 pm AEST
Week 11 Begin Date: 31 Jan 2022

Module/Topic

Financial statement analysis

Chapter

Eighteen

Events and Submissions/Topic

Week 12 Begin Date: 07 Feb 2022

Module/Topic

Review of the Term and unit review

Chapter

As per final exam advice

Events and Submissions/Topic

Exam Week Begin Date: 14 Feb 2022

Module/Topic

Chapter

Events and Submissions/Topic

Assessment Tasks

1 Practical Assessment

Assessment Title
Group Written Task and Presentation

Task Description

This assessment comprises two components. The due date for the submission is Friday of week 9. For the Written task (Excel) component, each group of not more than 5 students submits an excel spreadsheet of the assigned question.  For the presentation component, each group member will present via a zoom recording submitted in moodle. The practical assessment (Group written assessment and presentation) contributes 30% towards the final grade. Distance/Flex students may be allowed to complete the written assessment and presentation individually.


Assessment Due Date

Week 9 Friday (21 Jan 2022) 5:00 pm AEST

Excel sheet and zoom recording submissions with group cover page via Moodle


Return Date to Students

Results available via Moodle grade book


Weighting
30%

Assessment Criteria

Students will be assessed on the criteria as specified below:

Group written task 

1. Completion and Accuracy

2. Appropriate use of Formats/Formulas in excel

Group presentation 

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


Referencing Style

Submission
Online Group

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
  • 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 Quiz

Task Description

This is an individual assessment task. The online test will open at 9:00 am on Monday of week 10 and close at 5.00 pm on Friday of week 10. This assessment covers the contents from week 1 to week 8. The test consists of multiple-choice questions which may be theoretical, conceptual, and /or practical. Only one attempt is permitted and it must be completed within 60 minutes. There will be no opportunity to complete the online test once it closes. Further details are available on Moodle.


Assessment Due Date

Week 10 Friday (28 Jan 2022) 5:00 pm AEST

Online test must be completed at one go. You must complete it within the allocated time


Return Date to Students

Results will be available immediately on the submission of quiz via moodle


Weighting
10%

Assessment Criteria

The online test will automatically be marked by the computer system and results can be viewed immediately after the submission


Referencing Style

Submission
Online

Submission Instructions
Details available on the Moodle

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

3 Take Home Exam

Assessment Title
Take home exam

Task Description

This is an individual assessment. The take-home exam will be posted to Moodle at the date and time scheduled for the examination and extensions are not permitted. This document is to be downloaded, completed and resubmitted by the due time. The duration of the exam will be 3.5 hours, allowing for downloading, completion and submission. Late submissions (even by a few minutes) will not be accepted and any late submission will receive a zero mark. Further information is available on Moodle.


Assessment Due Date

Return Date to Students

Weighting
60%

Assessment Criteria

No Assessment Criteria


Referencing Style

Submission
Online

Submission Instructions
The take-home exam paper is to be submitted via Moodle by the due date and time.

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
  • Ethical and Professional Responsibility

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?