AYB200 Financial Accounting
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYB200 |
|---|---|
| Prerequisite(s): | BSB110 |
| Antirequisite(s): | AYB201, AYX200 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,176 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYB200 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | BSB110 |
| Anti-requisite: | AYX200, AYB201 |
| Coordinator: | Sohanur Rahman | s5.rahman@qut.edu.au |
Overview
External financial reports are a legal requirement for companies under the Australian Corporations Act and provide decision-useful information for interested users. Therefore, it is a requirement for accountants working in industry to know and understand: accounting concepts and procedures; specific technical accounting and legal requirements; and, general professional and ethical concepts. These are required in order to be able to prepare, present and explain external financial reports for users. Similarly, this knowledge and skill is a requirement for auditors who perform audits and reviews of external financial reports.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reportingRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and external financial statements for companies in accordance with international accounting standards for financial analysis and decision making
- Apply critical thinking and judgement and prepare written reports to analyse and respond to real world accounting issues and social responsibility implications
Content
1. Overview - Professional and Regulatory Framework of Financial Accounting;
2. Conceptual Framework
3. Assets; Current and Non Current Assets;
4. Liabilities; Current and Non Current Liabilities;.
5. Leases;
6. Shareholders, equity and reserves;
7. Income Statement;
8. Statement of Cash Flows
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgment and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The teaching and learning strategies applied in this subject are intended to maximise students' involvement with the ideas that are presented, and to provide step-by-step support for their application to a range of problems relevant to the technical and professional role of financial accountants. Weekly sessions will provide an introduction to the theoretical concepts and this will be supported by additional sessions designed to provide an interactive learning environment that focuses on the development of an integrated knowledge base (technical and professional), and a capacity to apply that knowledge through a wide range of problem-solving activities and case studies. In addition, opportunities will be provided to discuss and resolve any uncertainties that may arise in a smaller group setting.
This unit uses Turnitin, a tool in Canvas, which is a text matching tool that assists students to develop the academic skills required to correctly use and cite reference material as well as to check citations and determine possible instances of plagiarism. You will be expected to submit a final version of one or more assignments using this tool. Your Unit Coordinator will provide detailed information on how the tool will be used in this unit.
Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mulitple Choice Quiz
Quiz covers Weeks 1 - 8 (excluding Equity II)
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
This assignment will require students to research and write a report responding to an accounting situation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
This examination will cover key concepts and techniques covered throughout the semester (weeks one to twelve) and will consist of practical, critical thinking and theoretical questions.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), SE (5.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Deegan, C. (9th ed.) 2020, Australian Financial Accounting, McGraw Hill, North Ryde, NSW, Australia Ltd.
Reference book(s)
Australian Accounting Standards - relevant extracts listed on Canvas materials, with weblinks.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the >Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Mulitple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Business Report
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mulitple Choice Quiz, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, ULO3, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mulitple Choice Quiz, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, ULO3, Final Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Mulitple Choice Quiz, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO3, Business Report - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Business Report
Unit Outline: Semester 1 2024, Online
| Unit code: | AYB200 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | BSB110 |
| Anti-requisite: | AYX200, AYB201 |
Overview
External financial reports are a legal requirement for companies under the Australian Corporations Act and provide decision-useful information for interested users. Therefore, it is a requirement for accountants working in industry to know and understand: accounting concepts and procedures; specific technical accounting and legal requirements; and, general professional and ethical concepts. These are required in order to be able to prepare, present and explain external financial reports for users. Similarly, this knowledge and skill is a requirement for auditors who perform audits and reviews of external financial reports.
Learning Outcomes
On successful completion of this unit you will be able to:
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reportingRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and external financial statements for companies in accordance with international accounting standards for financial analysis and decision making
- Apply critical thinking and judgement and prepare written reports to analyse and respond to real world accounting issues and social responsibility implications
Content
1. Overview - Professional and Regulatory Framework of Financial Accounting;
2. Conceptual Framework
3. Assets; Current and Non Current Assets;
4. Liabilities; Current and Non Current Liabilities;.
5. Leases;
6. Shareholders, equity and reserves;
7. Income Statement;
8. Statement of Cash Flows
QUT Business Capabilities (Undergraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgment and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
The teaching and learning strategies applied in this subject are intended to maximise students' involvement with the ideas that are presented, and to provide step-by-step support for their application to a range of problems relevant to the technical and professional role of financial accountants. Weekly sessions will provide an introduction to the theoretical concepts and this will be supported by additional sessions designed to provide an interactive learning environment that focuses on the development of an integrated knowledge base (technical and professional), and a capacity to apply that knowledge through a wide range of problem-solving activities and case studies. In addition, opportunities will be provided to discuss and resolve any uncertainties that may arise in a smaller group setting.
This unit uses Turnitin, a tool in Canvas, which is a text matching tool that assists students to develop the academic skills required to correctly use and cite reference material as well as to check citations and determine possible instances of plagiarism. You will be expected to submit a final version of one or more assignments using this tool. Your Unit Coordinator will provide detailed information on how the tool will be used in this unit.
Students should refer to the unit Canvas site for the latest information.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Mulitple Choice Quiz
Quiz covers Weeks 1 - 8 (excluding Equity II)
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
This assignment will require students to research and write a report responding to an accounting situation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
This examination will cover key concepts and techniques covered throughout the semester (weeks one to twelve) and will consist of practical, critical thinking and theoretical questions.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), SE (5.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Deegan, C. (9th ed.) 2020, Australian Financial Accounting, McGraw Hill, North Ryde, NSW, Australia Ltd.
Reference book(s)
Australian Accounting Standards - relevant extracts listed on Canvas materials, with weblinks.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to view the >Emergency video.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.1): Critical Analysis
Relates to: ULO2, Mulitple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Business Report
KS (1.1): Discipline Knowledge
Relates to: ULO1, Mulitple Choice Quiz, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.2): Global Social Responsibility
Relates to: ULO2, ULO3, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, Mulitple Choice Quiz, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, ULO3, Final Examination - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Mulitple Choice Quiz, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO3, Business Report - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO3, Business Report