Faculty of Arts, Business and Law School of Business Teaching Session: Semester 2 Year: 2017 Course Coordinator: Dr Greg Laing Office: K1.31 Telephone: +61 7 5459 4675 Email: glaing@usc.edu.au Consultation Times: As advised on Blackboard Course outline Code: ACC210 Title: Financial Accounting 1. What is this course about? 1.1 Course description This course is structured to enable you to complete financial accounting tasks with reference to the professional, legislative and theoretical framework of accounting. Completion of the course should enable you to demonstrate knowledge of the 'regulatory' environment within which accounting procedures and reporting practices operate. Financial Accounting is a key course for students who wish to pursue a career in professional accounting. Topics covered include accounting conceptual framework; accounting for noncurrent assets and intangibles; cash flow statements; financial statement analysis; and accounting for leases. 1.2 Course content Accounting regulation and the conceptual framework Fair value measurement Property, plant and equipment Intangible assets Provisions, contingent liabilities and contingent assets Employee benefits Leases Revenue Statement of cash flows Accounting policies and other disclosures Operating segments and related party disclosures 2. Unit value 12 units
Page 2 3. How does this course contribute to my learning? Specific Learning Outcomes Assessment Tasks Graduate Qualities On successful completion of this course you should be able to: You will be assessed on the learning outcome in task/s: Completing these tasks successfully will contribute to you becoming: Use critical thinking to identify, analyse and solve problems in diverse areas of commerce. Effectively communicate commerce-related knowledge and information. Understand and interpret commerce-related knowledge and information and apply such knowledge and information to regional, national and/or global business situations and decision making. 1, 2 and 3 Creative and critical thinkers. 2 Empowered. 1, 2 and 3 Knowledgeable. 4. Am I eligible to enrol in this course? Refer to the Coursework Programs and Awards - Academic Policy for definitions of pre-requisites, corequisites and anti-requisites 4.1 Enrolment restrictions Nil 4.2 Pre-requisites ACC106 4.3 Co-requisites Nil 4.4 Anti-requisites Nil 4.5 Specific assumed prior knowledge and skills Basic financial accounting knowledge acquired in ACC106 5. How am I going to be assessed? 5.1 Grading scale Standard High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL)
5.2 Assessment tasks Task No. Assessment Tasks Individual or Group Page 3 Weighting % What is the duration / length? When should I submit? Where should I submit it? 1 Mid-semester Individual 20% 1 hour Week 5 Blackboard test 2 Essay Individual 30% 1500 words Monday, SafeAssign Week 11 3 Final exam Individual 50% 2 hours Central In exam venue examination period 100% Assessment Task 1: Mid-semester test Goal: The aim is for you to use critical thinking to identify, analyse and solve problems; to show that you can understand and interpret commerce-related knowledge and information and apply such knowledge. Product: Multiple choice test Format: This is an individual assessment. You will have 1 hour to complete the test which will be conducted on Blackboard. The test will comprise questions that will examine material covered in weeks 1 to 4 of the course. Criteria You will be assessed on your ability to recall and apply the material covered in these weeks. Generic skill assessed Skill assessment level Problem solving Assessment Task 2: Essay Goal: Product: Format: Criteria The aim is for you to use critical thinking to identify, analyse and solve problems; to show that you can understand and interpret commerce-related knowledge and information and apply such knowledge; and communicate commerce related knowledge. Written answers to problems and/or case studies. The assignment is to be your own individual work it is not a group assignment. The approximate word count is 1500 words. Details of the assignment will be provided on Blackboard. Specifically, you will be assessed in terms of: logical application of concepts to situations, with adequate justification for choices made professional presentation, including correct use of spelling, grammar and Harvard referencing Skill assessment level Generic skill assessed Problem solving Communication
Assessment Task 3: Final exam Goal: Product: Format: Criteria Page 4 The aim is for you to use critical thinking to identify, analyse and solve problems; to show that you can understand and interpret commerce-related knowledge and information and apply such knowledge. Final exam. This is a centrally scheduled final examination and will be held during the end of semester examination period. The final examination will be two hours in duration, with 10 minutes perusal and will be closed book. Questions may be drawn from any of the topics covered in the course. More details on the final examination will be provided on Blackboard. You will be assessed on your ability to think and apply the knowledge you have learnt during the course. Skill assessment level Generic skill assessed Problem solving 5.3 Additional assessment requirements Plagiarism In order to minimise incidents of plagiarism and collusion, this course may require that some of its assessment tasks, when submitted to Blackboard, are electronically checked through SafeAssign. This software allows for text comparisons to be made between your submitted assessment item and all other work that SafeAssign has access to. Eligibility for Supplementary Assessment Your eligibility for supplementary assessment in a course is dependent of the following conditions applying: a) The final mark is in the percentage range 47% to 49.4% b) The course is graded using the Standard Grading scale c) You have not failed an assessment task in the course due to academic misconduct 5.4 Submission penalties Late submission of assessment tasks will be penalised at the following maximum rate: 5% (of the assessment task s identified value) per day for the first two days from the date identified as the due date for the assessment task. 10% (of the assessment task s identified value) for the third day 20% (of the assessment task s identified value) for the fourth day and subsequent days up to and including seven days from the date identified as the due date for the assessment task. A result of zero is awarded for an assessment task submitted after seven days from the date identified as the due date for the assessment task. Weekdays and weekends are included in the calculation of days late. To request an extension you must contact your course coordinator to negotiate an outcome. 6. How is the course offered? 6.1 Directed study hours On campus Lecture: 2 hours per week On campus Tutorial: 1 hour per week 6.2 Teaching semester/session(s) offered Semester 2
6.3 Course activities Teaching What key concepts/content Week / will I learn? Module 1 Accounting regulation and the conceptual framework Loftus et al Ch 1 2 Fair value measurement Loftus et al Ch 3 Page 5 What activities will I engage in to learn the concepts/content? Directed Study Activities Independent Study Activities Lecture No Tutorials Ch 1: Information 3 Property, plant and equipment Loftus et al Ch 5 Ch3: Information to be provided on 4 Intangible assets Loftus et al Ch 6 Ch 5: Information 5 No lectures or tutorials Mid-semester test 6 Provisions, contingent liabilities and contingent assets Loftus et al Ch 8 7 Employee benefits Loftus et al Ch 9 8 Leases Loftus et al Ch 10 9 Revenue Loftus et al Ch 15 10 Monday, 2 nd October Queen's Birthday Public Holiday Statement of cash flows Loftus et al Ch 17 11 Accounting policies and other disclosures Loftus et al Ch 18 12 Operating segments and related party disclosures Loftus et al Chs 20 and 21 Mid Semester Break Group discussion Essay Due Group discussion 13 Revision Group discussion Study Period Central Examination Period on Blackboard Ch 6: Information Ch 8: Information Ch 9: Information Ch 10: Information Ch 15 Information Ch 17: Information Ch 18: Information Chs 20 and 21: Information to be provided on
Page 6 End of Semester Break Please note that the course activities may be subject to variation. 7. What resources do I need to undertake this course? 7.1 Prescribed text(s) Please note that you need to have regular access to the resource(s) listed below: Author Year Title Publisher Loftus, J., Leo, K., Boys, N., Luke, B., Daniliuc, S., Ang, H. and Byrnes, K 2015, 1st Edn. Financial Reporting John Wiley & Sons 7.2 Required and recommended readings Lists of required and recommended readings may be found for this course on its Blackboard site. These materials/readings will assist you in preparing for tutorials and assignments, and will provide further information regarding particular aspects of your course. 7.3 Specific requirements N/A 7.4 Risk management Health and safety risks have been assessed as low. It is your responsibility to research and understand risks of specific courses and to review the USC s health and safety principles by viewing the online induction training for students. 8. How can I obtain help with my studies? In the first instance you should contact your tutor, then the Course Coordinator. Additional assistance is provided to all students through Peer Advisors and Academic Skills Advisors. You can drop in or book an appointment. To book: Tel: +61 7 5430 2890 or Email: studentcentral@usc.edu.au 9. Links to relevant University policies and procedures For more information on Academic Learning & Teaching categories including: Assessment: Courses and Coursework Programs Review of Assessment and Final Grades Supplementary Assessment Administration of Central Examinations Deferred Examinations Student Academic Misconduct Students with a Disability http://www.usc.edu.au/university/governance-and-executive/policies-and-procedures#academic-learningand-teaching 10. General enquiries In person: Sippy Downs - Student Central, Ground Floor, Building C USC SouthBank - Student Central, Building B, Ground floor (level 1) USC Gympie - Student Central, 71 Cartwright Road, Gympie USC Fraser Coast - Student Central, Building A Tel: +61 7 5430 2890 Email: studentcentral@usc.edu.au