AYB201 Financial Accounting and Reporting
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: | AYB201 |
|---|---|
| Prerequisite(s): | AYB106 |
| Antirequisite(s): | AYB200 or AYX200 or AYB150 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,124 |
| Pre-2021 CSP student contribution | $1,663 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 | $3,204 |
| International unit fee | $4,512 |
Unit Outline: Semester 1 2025, Gardens Point, Internal
| Unit code: | AYB201 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 |
| Anti-requisite: | AYB200, AYX200 |
| Coordinator: | Sarah Osborne | sarah.osborne@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:
- Prepare financial reports to provide useful information to users with respect to the allocation of financial resources.[KS 1.1, 1.2]
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reporting. [KS 1.1, KS 1.2, SE 5.1]
- 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. [HO 2.1, 3.1]
- Identify and analyse the theoretical principles underlying accounting practice. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply accounting information systems concepts, issues and controls to critically analyse and make judgements in real world accounting systems contexts. [HO 2.2]Relates to: UG Business Capabilities: HO (2.2)
Content
1. Overview to the Global Regulatory Environment
2. Accounting Theory
3. Current and Non Current Liabilities
4. Income and Expenses
5. Statement of Cash Flows
6. Leases
7. Foreign Currency Transactions
8. ICT (internal controls, fraud and information security)
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 your 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.
Feedback on Learning and Assessment
You 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: Multiple Choice Quiz
The Quiz covers multiple weeks materials.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
Acting as an accounting professional, you will analyse and synthesise a company's financial data and prepare a report about financial statements that comply with international accounting standards. Demonstrated use of and interpretation of technology forms part of this assignment.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), 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, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Resource Materials
Prescribed text(s)
Deegan, C. M.(2020) Financial Accounting 9th Edition, McGraw-Hill Education (Australia) Pty Ltd
Available electronically and in paperback.
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, ULO3, ULO4, Multiple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO5, Business Report, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Multiple Choice Quiz, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Business Report
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS06 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS08 Bachelor of Business - International
- 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
Unit Outline: Semester 1 2025, Online
| Unit code: | AYB201 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 |
| Anti-requisite: | AYB200, AYX200 |
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:
- Prepare financial reports to provide useful information to users with respect to the allocation of financial resources.[KS 1.1, 1.2]
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reporting. [KS 1.1, KS 1.2, SE 5.1]
- 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. [HO 2.1, 3.1]
- Identify and analyse the theoretical principles underlying accounting practice. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply accounting information systems concepts, issues and controls to critically analyse and make judgements in real world accounting systems contexts. [HO 2.2]Relates to: UG Business Capabilities: HO (2.2)
Content
1. Overview to the Global Regulatory Environment
2. Accounting Theory
3. Current and Non Current Liabilities
4. Income and Expenses
5. Statement of Cash Flows
6. Leases
7. Foreign Currency Transactions
8. ICT (internal controls, fraud and information security)
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 your 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.
Feedback on Learning and Assessment
You 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: Multiple Choice Quiz
The Quiz covers multiple weeks materials.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
Acting as an accounting professional, you will analyse and synthesise a company's financial data and prepare a report about financial statements that comply with international accounting standards. Demonstrated use of and interpretation of technology forms part of this assignment.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), 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, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Resource Materials
Prescribed text(s)
Deegan, C. M.(2020) Financial Accounting 9th Edition, McGraw-Hill Education (Australia) Pty Ltd
Available electronically and in paperback.
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, ULO3, ULO4, Multiple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO5, Business Report, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Multiple Choice Quiz, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Business Report
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS06 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS08 Bachelor of Business - International
- 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
Unit Outline: Semester 2 2025, Gardens Point, Internal
| Unit code: | AYB201 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 |
| Anti-requisite: | AYB200, AYX200 |
| Coordinator: | Sarah Osborne | sarah.osborne@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:
- Prepare financial reports to provide useful information to users with respect to the allocation of financial resources.[KS 1.1, 1.2]
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reporting. [KS 1.1, KS 1.2, SE 5.1]
- 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. [HO 2.1, 3.1]
- Identify and analyse the theoretical principles underlying accounting practice. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply accounting information systems concepts, issues and controls to critically analyse and make judgements in real world accounting systems contexts. [HO 2.2]Relates to: UG Business Capabilities: HO (2.2)
Content
1. Overview to the Global Regulatory Environment
2. Accounting Theory
3. Current and Non Current Liabilities
4. Income and Expenses
5. Statement of Cash Flows
6. Leases
7. Foreign Currency Transactions
8. ICT (internal controls, fraud and information security)
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 your 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.
Feedback on Learning and Assessment
You 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: Multiple Choice Quiz
The Quiz covers multiple weeks materials.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
Acting as an accounting professional, you will analyse and synthesise a company's financial data and prepare a report about financial statements that comply with international accounting standards. Demonstrated use of and interpretation of technology forms part of this assignment.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), 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, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Resource Materials
Prescribed text(s)
Deegan, C. M.(2020) Financial Accounting 9th Edition, McGraw-Hill Education (Australia) Pty Ltd
Available electronically and in paperback.
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, ULO3, ULO4, Multiple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO5, Business Report, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Multiple Choice Quiz, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Business Report
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS06 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS08 Bachelor of Business - International
- 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
Unit Outline: Semester 2 2025, Online
| Unit code: | AYB201 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB106 |
| Anti-requisite: | AYB200, AYX200 |
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:
- Prepare financial reports to provide useful information to users with respect to the allocation of financial resources.[KS 1.1, 1.2]
- Identify, analyse and explain specific technical, accounting and legal requirements in financial reporting. [KS 1.1, KS 1.2, SE 5.1]
- 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. [HO 2.1, 3.1]
- Identify and analyse the theoretical principles underlying accounting practice. [HO 2.1]Relates to: UG Business Capabilities: HO (2.1)
- Apply accounting information systems concepts, issues and controls to critically analyse and make judgements in real world accounting systems contexts. [HO 2.2]Relates to: UG Business Capabilities: HO (2.2)
Content
1. Overview to the Global Regulatory Environment
2. Accounting Theory
3. Current and Non Current Liabilities
4. Income and Expenses
5. Statement of Cash Flows
6. Leases
7. Foreign Currency Transactions
8. ICT (internal controls, fraud and information security)
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 your 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.
Feedback on Learning and Assessment
You 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: Multiple Choice Quiz
The Quiz covers multiple weeks materials.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Assessment: Business Report
Acting as an accounting professional, you will analyse and synthesise a company's financial data and prepare a report about financial statements that comply with international accounting standards. Demonstrated use of and interpretation of technology forms part of this assignment.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), 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, 2.2), SE (5.1)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
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.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Requirements to Study
Requirements
No additional requirements
Costs
No additional costs
Resources
Resource Materials
Prescribed text(s)
Deegan, C. M.(2020) Financial Accounting 9th Edition, McGraw-Hill Education (Australia) Pty Ltd
Available electronically and in paperback.
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, ULO3, ULO4, Multiple Choice Quiz, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO5, Business Report, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Multiple Choice Quiz, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO1, Business Report
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Business Report
SE (5.1): Ethical and Legal Understanding
Relates to: ULO2, 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS06 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination
BS08 Bachelor of Business - International
- 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, ULO2, Multiple Choice Quiz, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO1, Business Report - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, ULO3, ULO4, Multiple 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: ULO5, Business Report, Final Examination - 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 - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO2, Final Examination