ACCT19062 - Intermediate Financial Accounting

General Information

Unit Synopsis

In this unit you will examine a selection of Australian accounting standards that address fundamental issues in financial reporting. You commence with an analysis of the role of accounting standards in the regulation of financial reporting in Australia and the concepts in the Australian Framework for the Preparation and Presentation of Financial Statements. You then interpret and apply the requirements of the selected accounting standards to solve routine accounting problems. This unit develops your professional competence in accounting as well as preparing you for future participation in an international and dynamic professional accounting environment.

Details

Level Undergraduate
Unit Level 2
Credit Points 6
Student Contribution Band 3
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites

Pre-requisite: ACCT19084 or ACCT11081

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).

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 3 - 2020

Term 3 - 2020 Profile
Online
Term 1 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2021 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2021 Profile
Online

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).

Assessment Overview

Recommended Student Time Commitment

Each 6-credit Undergraduate 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.

Assessment Tasks

Assessment Task Weighting
1. Online Quiz(zes) 10%
2. Written Assessment 40%
3. Take Home Exam 50%

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

Past Exams

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Previous Feedback

Term 1 - 2019 : The overall satisfaction for students in the last offering of this course was 4.4 (on a 5 point Likert scale), based on a 31.71% response rate.

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.

Source: Student feedback
Feedback
Students are unclear about the level of quality that is expected from them in the practical and written assessment.
Recommendation
Provide samples of high quality written assignments from students in previous terms. These should also be discussed in class (on-campus students) and in a Zoom session (on-campus and distance).
Action Taken
Examples of student assignments have been made available through Moodle. Discussion about these examples is currently being analysed.
Source: Student evaluations
Feedback
Students are provided with practice questions and solutions. Some are sourced from the prescribed textbook whilst others have been written by the Unit Coordinator. Students have expressed a desire for more questions (with solutions) to enable them to practice.
Recommendation
Provide students with more practice questions and solutions.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Explain the institutional arrangements for developing and revising Australian and international accounting pronouncements
  2. Interpret and apply the financial reporting requirements for entities governed by the Corporations Act 2001
  3. Interpret and apply the AASB’s Framework for the Preparation and Presentation of Financial Statements
  4. Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
  5. Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Online Quiz(zes)
2 - Written Assessment
3 - Take Home Exam
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
2 - Problem Solving
3 - Critical Thinking
4 - Information Literacy
6 - Information Technology Competence
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
2 - Written Assessment
3 - Take Home Exam
1 - Online Quiz(zes)