Unit Outline

Accounting and Accountability for Decision Making is an introductory accounting unit concerned with the fundamentals of financial accounting. The unit includes an introduction to the basic principles of accrual accounting and the five elements of financial reports (i.e. assets, liabilities, owners equity, revenue and expenses). The unit focusses on the key financial statements from the preparer's perspective – the balance sheet, income statement and statement of cash flows. Topics covered in the unit include measuring and reporting financial position, the accounting cycle, inventory, internal control and cash, non-current assets, cash flow statements and accounting policy choice.

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 accounting and accountability concepts to accounting systems and reporting
2.	Critique complex financial and non-financial reports for potential accounting issues
3.	Prepare financial statements using contemporary accounting theory and practice for management decision-making

Alterations as a result of student feedback

As a result of student feedback there has been a change made to include an earlier opportunity for assessment and feedback. Assessment Task 1 now has 2 parts. Part 1 is due in week 3, with the main part (part 2) due late in week 8.

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:	Case Study (Part A Due: Week 3 & Part B Due: Week 8)	Week 3	35 %	LO1, LO2, LO3
Assessment Task 2:	Oral presentation	Week 10	25 %	LO1, LO2
Assessment Task 3:	End of Semester Exam	Exam Period	40 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Case Study (Part A Due: Week 3 & Part B Due: Week 8)

Task Description:

This assessment task has two parts. Firstly, it requires you to apply fundamental concepts of accounting and accountability in an online quiz. The quiz will comprise multiple choice questions and assess topics 1 and 2. Secondly, part 2 of the assignment requires you to record and report financial information for a given company using an accounting software, and then prepare a comprehensive written report for the management team of the same company. You will be responsible for documenting and analysing the company's financial transactions and records, including sales, expenses, and other financial data.
You will also assess the company's accounting processes, data accuracy, and identify any potential areas of improvement. Finally, you will prepare a detailed report outlining your findings and recommendations for the company's management team, highlighting any significant issues or opportunities for improvement. This assessment task will test your ability to manage financial records, analyse data accurately and efficiently, and communicate your findings effectively to others.

Part A (5%) due week 3: Online MCQ Quiz

Part B (30%) due week 8: MYOB Case Study – Financial reports to management.

Task Length:

Case study

Due Date:

Week 3

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Use of accounting software to record accounting transactions	LO1
2	Analyse financial information to determine or identify accounting issues	LO2
3	Recommend financial management and performance improvement	LO3

Assessment Task 2: Oral presentation

Task Description:

The second assessment task requires you to deliver an oral presentation to the management team of the given company used in Assessment Task 1. The presentation should demonstrate your ability to effectively communicate your research findings, provide relevant insights, and propose viable solutions to the company's identified issues or challenges.
During the presentation, you should use appropriate language and a professional demeanour to engage the audience and convey your ideas clearly. The content of the presentation should be well-structured, with a clear introduction, body, and conclusion that summarizes the key points and recommendations. You should review the findings and recommendations from the written report in Assessment Task 1 to ensure that your presentation builds upon these insights. You will also need to submit a written script or a copy of the transcript of your presentation.

Task Length:

5-minute video presentation

Due Date:

Week 10

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply accounting theory to financial reporting	LO1
2	Critique issues in complex financial reports	LO2
3	Critique issues in complex non-financial and sustainability disclosure	LO2
4	Communicate using professional language and standards common to business professionals	LO2

Assessment Task 3: End of Semester Exam

Task Description:

The final exam is an invigilated online test comprising of MCQs, short-answered questions and case study questions. You need to properly install the Respondus Lockdown Browser in your computers/ laptops before attending the exams. Further instructions on the exam contents and technical issues will be provided closer to the exam dates

Task Length:

3 hours, 15 minutes

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply concepts of accounting systems for internal control	LO1
2	Analyse elements of financial statements for decision-making	LO3
3	Prepare financial statements	LO3
4	Critique the application of accounting concepts to financial reporting	LO2
5	Critique the application of accounting concepts to non-financial reporting	LO2

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

Deegan, C. 2023, An Introduction to Accounting: Accountability in Organisations and Society, 2nd Ed., Nelson ITP, Cengage Learning Australia, Melbourne.