AYN416 Financial Accounting Processes
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: | AYN416 |
|---|---|
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| Domestic tuition unit fee | $4,092 |
| International unit fee | $4,584 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYN416 |
|---|---|
| Credit points: | 12 |
| Coordinator: | Elizabeth Marsland | e.marsland@qut.edu.au |
Overview
All firms need to prepare financial statements at least annually. AYN416 provides a comprehensive introduction to financial accounting processes from both a practical and theoretical viewpoint. Being the first accounting unit in the Master of Business (Professional Accounting) AYN416 also provides the foundation for studies in all the other accounting related units in the degree course particularly AYN417 Corporate Accounting and AYN418 Advanced Financial Accounting.
Learning Outcomes
On successful completion of this unit you will be able to:
- Explain the importance of accounting information to the users of that information.
- Competently carry out accounting procedures using a generalised system of financial accounting in accordance with the regulatory framework.
- Prepare a set of general purpose financial reports for external reporting purposes, both manually and using a computerised accounting package.
- Discuss the social responsibility implications associated with the use of accounting information.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit covers the accounting cycle for both, retail and merchandising operations, then examines specific issues including: accounting systems, liabilities, assets, company formation and operations. Other topics covered include the preparation of Income statement, balance sheet, statement of changes in owner's equity and statement of cash flows in accordance with the Australian equivalents to International Financial Reporting Standards (AIFRS).
QUT Business Capabilities (Postgraduate)
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 & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
This unit introduces basic accounting principles, applications and theoretical foundations. This is then extended to cover more detailed aspects of financial reporting in terms of technical and professional requirements. This unit will encourage students to conceptually link the theoretical aspects of financial reporting with the practical aspects enabling students to apply their knowledge in the preparation and analysis of financial statements.
Weekly sessions commence in Week 1 and are structured to ensure student learning is facilitated by providing the basic understanding of the weekly material. This understanding is further developed through weekly reading, weekly practice questions and weekly online questions.
Learning materials (power point slides and lecture examples) will be available each week from the unit Canvas site: Students should download the learning materials and bring them to the lecture each week.
Practice Questions are contained at the end of the weekly power point slides and are based on the learning material for that week. The first set of questions are to be completed by students using the 'Wiley Plus' online interactive learning package. Students will receive immediate feedback as to whether their answers are correct and can then re-attempt the questions. After the 3rd attempt the solution will be shown. This is a self-directed learning tool and the answers will not be discussed in lectures. The second sets of handwritten practical questions from the textbook extend the development of analytical and problem solving skills within the context of the 'real world' reporting requirement for accounting professionals. The solutions for these will be placed on Canvas the following week, to enable you to correct your answers.
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: Online Quiz
The mid semester examination will be conducted as an online quiz and will cover topics 1-5.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Integrated Accounting Project
Students will be required to complete a financial reporting task both manually and using accounting software. You will use accounting software to set up the accounting records of a business, input typical transactions and prepare appropriate reports. You will compare and reconcile the manual and computerised financial statements.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
The final exam will cover the material from topics 6 to 12 inclusive. The exam will consist of both practical questions and higher order thinking 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)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2022) Financial Accounting: Reporting, Analyses and Decision Making 7th edition.
Reference book(s)
Birt, Chalmers, Maloney, Brooks, Bond, Oliver (2023) Accounting Business Reporting for Decision Making 8th edition
www.wileyplus.com.au
www.aasb.com.au
Other
AYN416 powerpoint slides and other materials will be provided on the AYN416 Canvas site.
Accounting Software (further details to be provided as assessment is released).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in 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.
Unit Outline: Semester 1 2024, Online
| Unit code: | AYN416 |
|---|---|
| Credit points: | 12 |
Overview
All firms need to prepare financial statements at least annually. AYN416 provides a comprehensive introduction to financial accounting processes from both a practical and theoretical viewpoint. Being the first accounting unit in the Master of Business (Professional Accounting) AYN416 also provides the foundation for studies in all the other accounting related units in the degree course particularly AYN417 Corporate Accounting and AYN418 Advanced Financial Accounting.
Learning Outcomes
On successful completion of this unit you will be able to:
- Explain the importance of accounting information to the users of that information.
- Competently carry out accounting procedures using a generalised system of financial accounting in accordance with the regulatory framework.
- Prepare a set of general purpose financial reports for external reporting purposes, both manually and using a computerised accounting package.
- Discuss the social responsibility implications associated with the use of accounting information.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit covers the accounting cycle for both, retail and merchandising operations, then examines specific issues including: accounting systems, liabilities, assets, company formation and operations. Other topics covered include the preparation of Income statement, balance sheet, statement of changes in owner's equity and statement of cash flows in accordance with the Australian equivalents to International Financial Reporting Standards (AIFRS).
QUT Business Capabilities (Postgraduate)
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 & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
This unit introduces basic accounting principles, applications and theoretical foundations. This is then extended to cover more detailed aspects of financial reporting in terms of technical and professional requirements. This unit will encourage students to conceptually link the theoretical aspects of financial reporting with the practical aspects enabling students to apply their knowledge in the preparation and analysis of financial statements.
Weekly sessions commence in Week 1 and are structured to ensure student learning is facilitated by providing the basic understanding of the weekly material. This understanding is further developed through weekly reading, weekly practice questions and weekly online questions.
Learning materials (power point slides and lecture examples) will be available each week from the unit Canvas site: Students should download the learning materials and bring them to the lecture each week.
Practice Questions are contained at the end of the weekly power point slides and are based on the learning material for that week. The first set of questions are to be completed by students using the 'Wiley Plus' online interactive learning package. Students will receive immediate feedback as to whether their answers are correct and can then re-attempt the questions. After the 3rd attempt the solution will be shown. This is a self-directed learning tool and the answers will not be discussed in lectures. The second sets of handwritten practical questions from the textbook extend the development of analytical and problem solving skills within the context of the 'real world' reporting requirement for accounting professionals. The solutions for these will be placed on Canvas the following week, to enable you to correct your answers.
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: Online Quiz
The mid semester examination will be conducted as an online quiz and will cover topics 1-5.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Integrated Accounting Project
Students will be required to complete a financial reporting task both manually and using accounting software. You will use accounting software to set up the accounting records of a business, input typical transactions and prepare appropriate reports. You will compare and reconcile the manual and computerised financial statements.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
The final exam will cover the material from topics 6 to 12 inclusive. The exam will consist of both practical questions and higher order thinking 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)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2022) Financial Accounting: Reporting, Analyses and Decision Making 7th edition.
Reference book(s)
Birt, Chalmers, Maloney, Brooks, Bond, Oliver (2023) Accounting Business Reporting for Decision Making 8th edition
www.wileyplus.com.au
www.aasb.com.au
Other
AYN416 powerpoint slides and other materials will be provided on the AYN416 Canvas site.
Accounting Software (further details to be provided as assessment is released).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in 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.
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYN416 |
|---|---|
| Credit points: | 12 |
Overview
All firms need to prepare financial statements at least annually. AYN416 provides a comprehensive introduction to financial accounting processes from both a practical and theoretical viewpoint. Being the first accounting unit in the Master of Business (Professional Accounting) AYN416 also provides the foundation for studies in all the other accounting related units in the degree course particularly AYN417 Corporate Accounting and AYN418 Advanced Financial Accounting.
Learning Outcomes
On successful completion of this unit you will be able to:
- Explain the importance of accounting information to the users of that information.
- Competently carry out accounting procedures using a generalised system of financial accounting in accordance with the regulatory framework.
- Prepare a set of general purpose financial reports for external reporting purposes, both manually and using a computerised accounting package.
- Discuss the social responsibility implications associated with the use of accounting information.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit covers the accounting cycle for both, retail and merchandising operations, then examines specific issues including: accounting systems, liabilities, assets, company formation and operations. Other topics covered include the preparation of Income statement, balance sheet, statement of changes in owner's equity and statement of cash flows in accordance with the Australian equivalents to International Financial Reporting Standards (AIFRS).
QUT Business Capabilities (Postgraduate)
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 & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
This unit introduces basic accounting principles, applications and theoretical foundations. This is then extended to cover more detailed aspects of financial reporting in terms of technical and professional requirements. This unit will encourage students to conceptually link the theoretical aspects of financial reporting with the practical aspects enabling students to apply their knowledge in the preparation and analysis of financial statements.
Weekly sessions commence in Week 1 and are structured to ensure student learning is facilitated by providing the basic understanding of the weekly material. This understanding is further developed through weekly reading, weekly practice questions and weekly online questions.
Learning materials (power point slides and lecture examples) will be available each week from the unit Canvas site: Students should download the learning materials and bring them to the lecture each week.
Practice Questions are contained at the end of the weekly power point slides and are based on the learning material for that week. The first set of questions are to be completed by students using the 'Wiley Plus' online interactive learning package. Students will receive immediate feedback as to whether their answers are correct and can then re-attempt the questions. After the 3rd attempt the solution will be shown. This is a self-directed learning tool and the answers will not be discussed in lectures. The second sets of handwritten practical questions from the textbook extend the development of analytical and problem solving skills within the context of the 'real world' reporting requirement for accounting professionals. The solutions for these will be placed on Canvas the following week, to enable you to correct your answers.
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: Online Quiz
The mid semester examination will be conducted as an online quiz and will cover topics 1-5.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Integrated Accounting Project
Students will be required to complete a financial reporting task both manually and using accounting software. You will use accounting software to set up the accounting records of a business, input typical transactions and prepare appropriate reports. You will compare and reconcile the manual and computerised financial statements.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
The final exam will cover the material from topics 6 to 12 inclusive. The exam will consist of both practical questions and higher order thinking 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)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2022) Financial Accounting: Reporting, Analyses and Decision Making 7th edition.
Reference book(s)
Birt, Chalmers, Maloney, Brooks, Bond, Oliver (2023) Accounting Business Reporting for Decision Making 8th edition
www.wileyplus.com.au
www.aasb.com.au
Other
AYN416 powerpoint slides and other materials will be provided on the AYN416 Canvas site.
Accounting Software (further details to be provided as assessment is released).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in 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.
Unit Outline: Semester 2 2024, Online
| Unit code: | AYN416 |
|---|---|
| Credit points: | 12 |
Overview
All firms need to prepare financial statements at least annually. AYN416 provides a comprehensive introduction to financial accounting processes from both a practical and theoretical viewpoint. Being the first accounting unit in the Master of Business (Professional Accounting) AYN416 also provides the foundation for studies in all the other accounting related units in the degree course particularly AYN417 Corporate Accounting and AYN418 Advanced Financial Accounting.
Learning Outcomes
On successful completion of this unit you will be able to:
- Explain the importance of accounting information to the users of that information.
- Competently carry out accounting procedures using a generalised system of financial accounting in accordance with the regulatory framework.
- Prepare a set of general purpose financial reports for external reporting purposes, both manually and using a computerised accounting package.
- Discuss the social responsibility implications associated with the use of accounting information.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit covers the accounting cycle for both, retail and merchandising operations, then examines specific issues including: accounting systems, liabilities, assets, company formation and operations. Other topics covered include the preparation of Income statement, balance sheet, statement of changes in owner's equity and statement of cash flows in accordance with the Australian equivalents to International Financial Reporting Standards (AIFRS).
QUT Business Capabilities (Postgraduate)
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 & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
This unit introduces basic accounting principles, applications and theoretical foundations. This is then extended to cover more detailed aspects of financial reporting in terms of technical and professional requirements. This unit will encourage students to conceptually link the theoretical aspects of financial reporting with the practical aspects enabling students to apply their knowledge in the preparation and analysis of financial statements.
Weekly sessions commence in Week 1 and are structured to ensure student learning is facilitated by providing the basic understanding of the weekly material. This understanding is further developed through weekly reading, weekly practice questions and weekly online questions.
Learning materials (power point slides and lecture examples) will be available each week from the unit Canvas site: Students should download the learning materials and bring them to the lecture each week.
Practice Questions are contained at the end of the weekly power point slides and are based on the learning material for that week. The first set of questions are to be completed by students using the 'Wiley Plus' online interactive learning package. Students will receive immediate feedback as to whether their answers are correct and can then re-attempt the questions. After the 3rd attempt the solution will be shown. This is a self-directed learning tool and the answers will not be discussed in lectures. The second sets of handwritten practical questions from the textbook extend the development of analytical and problem solving skills within the context of the 'real world' reporting requirement for accounting professionals. The solutions for these will be placed on Canvas the following week, to enable you to correct your answers.
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: Online Quiz
The mid semester examination will be conducted as an online quiz and will cover topics 1-5.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Integrated Accounting Project
Students will be required to complete a financial reporting task both manually and using accounting software. You will use accounting software to set up the accounting records of a business, input typical transactions and prepare appropriate reports. You will compare and reconcile the manual and computerised financial statements.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.2), HO (2.1)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Examination
The final exam will cover the material from topics 6 to 12 inclusive. The exam will consist of both practical questions and higher order thinking 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)
Carlon, McAlpine, Lee, Mitrione, Kirk, Wong (2022) Financial Accounting: Reporting, Analyses and Decision Making 7th edition.
Reference book(s)
Birt, Chalmers, Maloney, Brooks, Bond, Oliver (2023) Accounting Business Reporting for Decision Making 8th edition
www.wileyplus.com.au
www.aasb.com.au
Other
AYN416 powerpoint slides and other materials will be provided on the AYN416 Canvas site.
Accounting Software (further details to be provided as assessment is released).
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in 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.