ACCT20070 - Accounting in Australia

General Information

Unit Synopsis

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

Level Postgraduate
Unit Level Not Applicable
Credit Points 6
Student Contribution Band 3
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites There are no pre-requisites for the unit.
Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 2 - 2018

Term 2 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 3 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 1 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 3 - 2019 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 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.

Assessment Tasks

Assessment Task Weighting
1. Practical Assessment 30%
2. Online Test 10%
3. Examination 60%

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 Procedures for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2018 : The overall satisfaction for students in the last offering of this course was 4.2 (on a 5 point Likert scale), based on a 67.8% 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 survey
Feedback
An Australian-based textbook would be preferred.
Recommendation
A new Australian-based textbook will be used from T1, 2018.
Action Taken
From T1 2018, the unit uses a new textbook based in Australia.
Source: 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
Action Taken
Nil.
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 Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4 5
1 - Practical Assessment
2 - Online Test
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Advanced Level
Professional Level
Graduate Attributes Learning Outcomes
1 2 3 4 5
1 - Knowledge
2 - Communication
6 - Ethical and Professional Responsibility
Alignment of Assessment Tasks to Graduate Attributes
Advanced Level
Professional Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Practical Assessment
2 - Online Test
3 - Examination