Unit Outline

Welcome to this foundation unit for students intending to undertake an Accounting Major in the Bachelor of Business. This unit is compulsory and is an important pre-requisite for second and third-year units. Accounting is a technical, social and moral practice and this unit reflects this. You will consider the fundamental principles that underpin accrual accounting and financial reporting including how and why financial transactions are recorded as they are. The elements of the accounting cycle and techniques of measurement, recording and reporting for decision-makers are also considered. This unit expands on the role accounting plays in providing accountability. This unit also introduces you to accounting information systems and accounting software.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

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


1.	Apply accountability and accounting principles to make informed decisions.
2.	Apply accounting information systems to record business transactions and evaluate organisational risk.
3.	Use professional communication skills to convey accounting information, individually and in team environments.

Requisites


REQUISITE TYPE	REQUISITES
Anti-requisite (mutual excl)	XPD107

Alterations as a result of student feedback

To Be Determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Online Quiz via Respondus	Week 5	20 %	LO1, LO2
Assessment Task 2:	Case Study	Week 10	40 %	LO1, LO2, LO3
Assessment Task 3:	Exam via Respondus	Exam Period	40 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Online Quiz via Respondus

Task Description:

The online quiz will involve practical and theoretical short answer questions relating to material covered in weeks 1 to 4 of the semester.

More details will be provided on MyLO.

Task Length:

90 minutes

Due Date:

Week 5

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain the fundamental principles of accountability and accounting.	LO1
2	Identify and record accounting transactions.	LO1
3	Apply the accountability model to an organisation’s financial performance in order to make informed decisions.	LO1
4	Explain accounting information systems and the software that can be used to record business transactions.	LO2

Assessment Task 2: Case Study

Task Description:

This assessment task will consist of two parts.

Part a of the assessment will be completed individually and will involve recording
and reporting financial information for a small Tasmanian organisation using MYOB
accounting software (Criterion 3).

Part b of the assessment will involve an assessment of the organisational risk of the
same Tasmanian organisation used in part a of the assessment. This will be completed in groups. The risk assessment will involve assessing the adequacy of processes and controls in the organisation’s accounting information system as well as assessing the organisation’s sustainability risks. Recommendations will be made based on the risk assessment. The risk assessment and recommendations will be presented to the management of the organisation as a professional client report.

More details will be provided on MyLO.

Task Length:

Written Report 1,500 words

Due Date:

Week 10

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Evaluate an organisation’s sustainability risks.	LO1
2	Recommend strategies for reducing sustainability risks.	LO1
3	Apply MYOB skills to record accounting transactions and report financial information.	LO2
4	Evaluate the risk of an organisation's accounting information system.	LO2
5	Recommend improvements to an organisation's accounting information system.	LO2
6	Produce a professional client report.	LO3
7	Produce teamwork documentation to demonstrate collaborative work.	LO3
8	Communicate in written form using professional language and standards common to business professionals.	LO3

Assessment Task 3: Exam via Respondus

Task Description:

The exam will enable you to demonstrate your breadth and depth of understanding across all unit materials. All topics are examinable. An information sheet with details about the exam will be given to you in the last week of the
semester and posted on MyLO. You will require a non-programmable calculator for
the exam.

The invigilated exam will be completed by you via MyLO and Respondus on a day and time determined by the exams office.

Task Length:

3 hours

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain the fundamental principles of accountability and accounting.	LO1
2	Identify and record accounting transactions.	LO1
3	Apply the accountability model to an organisation’s financial performance in order to make informed decisions.	LO1
4	Report financial information in the form of financial statements.	LO1
5	Explain accounting information systems and the software that can be used to record business transactions.	LO2
6	Evaluate the risk of an organisation's accounting information system.	LO2
7	Recommend improvements to an organisation's accounting information system.	LO2
8	Communicate in written form using professional language and standards common to business professionals.	LO3

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

This unit does not have a required text, but has a number of recommended texts that will be referenced throughout the weekly content.