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.

In this unit you will consider the fundamental principles that underpin financial accounting and accountability; the regulatory environment under which financial accounting is practiced; and how and why financial transactions are recorded as they are.

The techniques of recognition, measurement, recording and reporting for informed decision making are also considered. This unit 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.	Explain financial accounting principles to make informed decisions.
2.	Explain the regulatory environment under which financial accounting is practiced.
3.	Identify, record and report financial transactions in accordance with Australian Accounting Standards.
4.	Communicate financial accounting and accountability information to various stakeholders using language and standards expected of business professionals

Requisites


REQUISITE TYPE	REQUISITES
Anti-requisite (mutual excl)	XPD107

Alterations as a result of student feedback

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 Test	Week 5	20 %	LO1, LO2, LO3
Assessment Task 2:	Case Study	Week 11	40 %	LO1, LO3, LO4
Assessment Task 3:	Exam	Refer to Assessment Description	40 %	LO1, LO2, LO3, LO4

Assessment details

Assessment Task 1: Online Test

Task Description:

The online test will involve answering 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 financial accounting and accountability.	LO1
2	Identify and record accounting transactions.	LO2
3	Apply double entry accounting principles to record financial transactions.	LO3

Assessment Task 2: Case Study

Task Description:

This assessment task involves using an accounting software package to perform all aspects of the accounting cycle.

More details will be provided on MyLO.

Task Length:

Refer to MyLO

Due Date:

Week 11

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Use basic internal control procedures to make informed decisions.	LO1
2	Use financial accounting information to make informed decisions.	LO1
3	Apply accounting software skills to record accounting transactions and report financial information.	LO3
4	Prepare financial accounting reports	LO3
5	Communicate using professional language and standards common to business professionals.	LO4

Assessment Task 3: Exam

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.

The exam will be held in the exam period.

More details will be provided on MyLO.

Task Length:

3 Hours

Due Date:

Refer to Assessment Description

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Explain the fundamental principles of financial accounting.	LO1
2	Identify and record accounting transactions.	LO1
3	Apply basic internal control procedures.	LO1
4	Explain the regulatory environment in which financial accounting is practiced.	LO2
5	Report financial information in the form of financial statements.	LO3
6	Communicate using professional language and standards common to business professionals.	LO4

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.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

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.