CQUniversity Unit Profile
ACCT20071 Foundations in Accounting
Foundations in Accounting
All details in this unit profile for ACCT20071 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 financial accounting within the context of the accounting conceptual framework and relevant accounting standards in Australian regulatory environment. You will gain a sound knowledge of accounting for reporting requirements of elements of financial statements, and able to analyse and interpret complex accounting issues relating to them. You will be also able to use analytical and research skills to apply, investigate and analyse complex accounting issues relating to elements of financial statements including social and environmental reporting.

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

Students must successfully complete ACCT20070 Accounting in Australia prior to enrolling in 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 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 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: 20%
2. Presentation and Written Assessment
Weighting: 20%
3. Online Test
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
Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Demonstrate mastery of Australian accounting standards in preparing financial statements and reporting on the elements of financial statements, and able to analyse and interpret complex accounting issues relating to them
  2. Critically evaluate and report on the conceptual framework for accounting as it is applied in Australia
  3. Use analytical and research skills to apply, investigate and analyse complex accounting issues relating to elements of financial statements including social and environmental reporting
  4. Communicate effectively with professionals and non professionals in relation to elements of financial statements including social and environmental reporting.
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 and Written Assessment - 20%
2 - Presentation and Written Assessment - 20%
3 - Online Test - 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
8 - Aboriginal and Torres Strait Islander Cultures
Textbooks and Resources

Textbooks

Prescribed

FINANCIAL ACCOUNTING

Edition: 9th (2019)
Authors: Craig Deegan
McGraw-Hill Australia
Sydney Sydney , NSW , Australia
ISBN: 9781743767672
Binding: Paperback

Additional Textbook Information

Textbooks can be accessed online at the CQUniversity Library website. If you prefer your own copy, you can purchase either paper or eBook versions 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
Annie Ding Unit Coordinator
a.ding@cqu.edu.au
Schedule
Week 1 Begin Date: 06 Mar 2023

Module/Topic

An overview of the external reporting environment

Chapter

Chapter 1

Events and Submissions/Topic

Week 2 Begin Date: 13 Mar 2023

Module/Topic

Conceptual framework of accounting and theories of financial accounting

Chapter

Chapter 2 and 3

Events and Submissions/Topic

Week 3 Begin Date: 20 Mar 2023

Module/Topic

An overview of accounting for assets

Chapter

Chapter 4

Events and Submissions/Topic

Week 4 Begin Date: 27 Mar 2023

Module/Topic

Depreciation of property, plant and equipment

Chapter

Chapter 5

Events and Submissions/Topic

Week 5 Begin Date: 03 Apr 2023

Module/Topic

An overview for accounting for liabilities

Chapter

Chapter 10

Events and Submissions/Topic



Practical and Written Assessment Due: Week 5 Friday (7 Apr 2023) 5:00 pm AEST
Vacation Week Begin Date: 10 Apr 2023

Module/Topic

Chapter


Events and Submissions/Topic

Week 6 Begin Date: 17 Apr 2023

Module/Topic

Companies: Formation and shareholders' equity

Chapter

Chapter 14 of 'Horngren's Financial Accounting 8th edn (2015)'. Download from moodle resources for week 6

Events and Submissions/Topic

Week 7 Begin Date: 24 Apr 2023

Module/Topic

Share capital and reserves

Chapter

Chapter 13

Events and Submissions/Topic

Week 8 Begin Date: 01 May 2023

Module/Topic

The statement of comprehensive income and statement of changes in equity

Chapter

Chapter 16 and selected questions from Chapter 15 of 'Horngren's Financial Accounting 8th edn (2015)'. Download from moodle resources for week 8

Events and Submissions/Topic

Presentation and Written Assessment Due: Week 8 Friday (5 May 2023) 5:00 pm AEST
Week 9 Begin Date: 08 May 2023

Module/Topic

The statement of cash flows

Chapter

Chapter 19 & Chapter 12 of 'Libby and Short' Book. Download from moodle resources for week 9.

Events and Submissions/Topic

Week 10 Begin Date: 15 May 2023

Module/Topic

Financial instruments – an introduction

Chapter

Chapter 14

Events and Submissions/Topic

Week 11 Begin Date: 22 May 2023

Module/Topic

Corporate social responsibility and Integrated reporting

Unit review

Chapter

Chapter 31

Events and Submissions/Topic

Week 12 Begin Date: 29 May 2023

Module/Topic

Online test 

Chapter

Events and Submissions/Topic

Online test: Details will be provided on moodle in week 10. 

Assessment Tasks

1 Practical and Written Assessment

Assessment Title
Practical and Written Assessment

Task Description

This assignment requires students to demonstrate an understanding of the conceptual framework of accounting. The students are required to make a written submission on some theoretical concepts and their practical application in interpreting the annual reports/sustainability/integrated reports of the ASX-listed companies. Further details are available on Moodle. This is a group assignment.


Assessment Due Date

Week 5 Friday (7 Apr 2023) 5:00 pm AEST

Group assignment. One group member will submit via Moodle.


Return Date to Students

Week 7 Friday (28 Apr 2023)

Assignments will be returned two weeks after the marker receives the assignment (Excluding Public Holidays)


Weighting
20%

Assessment Criteria

Marking rubrics is available on Moodle. 


Referencing Style

Submission
Online Group

Submission Instructions
Submit via Moodle

Learning Outcomes Assessed
  • Demonstrate mastery of Australian accounting standards in preparing financial statements and reporting on the elements of financial statements, and able to analyse and interpret complex accounting issues relating to them
  • Critically evaluate and report on the conceptual framework for accounting as it is applied in Australia
  • Use analytical and research skills to apply, investigate and analyse complex accounting issues relating to elements of financial statements including social and environmental reporting
  • Communicate effectively with professionals and non professionals in relation to elements of financial statements including social and environmental reporting.

2 Presentation and Written Assessment

Assessment Title
Presentation and Written Assessment

Task Description

This assignment consists of a written submission and a Video presentation. The students need to do some extended personal research and self-directed learning in order to complete this assignment. In the written submission, the students are required to write a research report based on annual reports of the companies listed on the Australian Securities Exchange (ASX). The students must also submit a video presentation based on this written submission. Any video format which markers are able to view for marking is acceptable. Further details on video submission are available on Moodle. This is a group assignment.


Assessment Due Date

Week 8 Friday (5 May 2023) 5:00 pm AEST

Group assignment. One group member will submit via Moodle.


Return Date to Students

Week 10 Friday (19 May 2023)

Assignments will be returned two weeks after the marker receives the assignment (Excluding Public Holidays)


Weighting
20%

Assessment Criteria

Marking rubrics is available on Moodle.


Referencing Style

Submission
Online Group

Learning Outcomes Assessed
  • Demonstrate mastery of Australian accounting standards in preparing financial statements and reporting on the elements of financial statements, and able to analyse and interpret complex accounting issues relating to them
  • Critically evaluate and report on the conceptual framework for accounting as it is applied in Australia
  • Use analytical and research skills to apply, investigate and analyse complex accounting issues relating to elements of financial statements including social and environmental reporting
  • Communicate effectively with professionals and non professionals in relation to elements of financial statements including social and environmental reporting.

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 60% of the total marks for the unit.

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



Assessment Due Date

Details to be provided via Moodle.


Return Date to Students

Marks will be released after approval of grades.


Weighting
60%

Assessment Criteria

Completion and accuracy of the online test questions


Referencing Style

Submission
Online

Submission Instructions
Submit through Moodle

Learning Outcomes Assessed
  • Demonstrate mastery of Australian accounting standards in preparing financial statements and reporting on the elements of financial statements, and able to analyse and interpret complex accounting issues relating to them
  • Critically evaluate and report on the conceptual framework for accounting as it is applied in Australia
  • Communicate effectively with professionals and non professionals in relation to elements of financial statements including social and environmental reporting.

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?