The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
Unit Profile Correction added on 13-02-24
Accreditation bodies no longer require invigilated exams, so we're replacing the invigilated exam with an online test. Additionally, following feedback from students like you, we've decided not to have invigilated exams at all. Instead, we'll be offering online tests for your convenience.
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
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 - 2024
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 Coordinators' reflections
More assistance to be provided with assessment in the form of workshopping it in the regular classes
Workshop the assessments in the weeks prior to assessment due dates. This will help in reducing academic integrity cases and help in student retention.
- 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.
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 - 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 | ||||
| 8 - Aboriginal and Torres Strait Islander Cultures | ||||
Textbooks
Financial Accounting
9th Edition (2020)
Authors: Craig Deegan
McGraw Hill
ISBN: 9781743767399
Binding: eBook
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Word processing (Microsoft Office Word or similar)
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.
m.kansal@cqu.edu.au
Module/Topic
An overview of the external reporting environment
Chapter
Chapter 1
Events and Submissions/Topic
Module/Topic
Conceptual framework of accounting and theories of financial accounting
Chapter
Chapter 2 and 3
Events and Submissions/Topic
Module/Topic
An overview of accounting for assets
Chapter
Chapter 4
Events and Submissions/Topic
Module/Topic
Depreciation of property, plant and equipment
Chapter
Chapter 5
Events and Submissions/Topic
Module/Topic
An overview for accounting for liabilities
Chapter
Chapter 10
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
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
Module/Topic
Share capital and reserves
Chapter
Chapter 13
Events and Submissions/Topic
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
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
Module/Topic
Financial instruments – an introduction
Chapter
Chapter 14
Events and Submissions/Topic
Module/Topic
Corporate social responsibility and Integrated reporting
Chapter
Chapter 31
Events and Submissions/Topic
Module/Topic
Unit review
Chapter
Revision resources on the Moodle
Events and Submissions/Topic
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 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.
Week 6 Friday (19 Apr 2024) 5:00 pm AEST
Group assignment. One group member will submit via Moodle.
Week 8 Friday (3 May 2024)
Assignments will be returned two weeks after the marker receives the assignment (Excluding Public Holidays)
Marking rubrics is available on Moodle.
- 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
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.
Week 8 Friday (3 May 2024) 5:00 pm AEST
Group assignment. One group member will submit via Moodle.
Week 10 Friday (17 May 2024)
Assignments will be returned two weeks after the marker receives the assignment (Excluding Public Holidays)
Marking rubrics is available on Moodle.
- 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.
Examination
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?
