| Semester 3, 2021 Online | |
| Short Description: | Accounting for Decision-Making |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Business |
| Student contribution band : | Band 4 |
| ASCED code : | 080101 - Accounting |
| Grading basis : | Graded |
Staffing
Examiner:
Other Requisites
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at .
Rationale
In the business world it is essential to develop a thorough understanding of financial and management accounting fundamentals. Therefore a knowledge of the practical and functional nature of business decisions from the perspective of financial accounting途 managerial costing and budgetary policies途 investing途 and financing of business operations provides the basis on which more advanced business acumen and skills are developed. This course provides an introduction to the tools managers need to analyse financial information and to inform business decision making.
Synopsis
This course introduces students to the world of accounting. Designed to provide a solid foundation for further study in both accounting and non-accounting disciplines, the course provides a logical introduction to the accounting environment and to the common financial accounting (external) reports and management accounting (internal) tools used for decision making purposes.
Objectives
On successful completion of this course students should be able to:
- Communicate clearly using professional literacies which include describing and applying fundamental financial and management accounting concepts, terminology, theories and processes;
- Apply analytical thinking skills in the context of accounting decision making and the review of basic financial reports;
- Use basic financial reports to communicate information to stakeholders and to provide relevant information for financial decision making;
- Select and apply appropriate business-related knowledge and technical skills to resolve basic problems whilst considering basic ethical implications.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Introduction to business accounting and the role of professional skills | 9.00 |
| 2. | Developing a business plan: cost-volume-profit analysis and budgeting | 18.00 |
| 3. | Concepts and applications of the accounting system | 19.00 |
| 4. | Managing and reporting working capital | 9.00 |
| 5. | Basic financial statements: overview and analysis | 27.00 |
| 6. | Sustainable business and introduction to capital expenditure decisions. | 18.00 |
Text and Materials
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2021&sem=03&subject1=ACC1101)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Cunningham, B Nikkolai, L Bazlley, J Kavanagh, M & Simmons, S & James, C 2021, Accounting: information for business decisions, 4th edn, Cengage Learning Australia, South Melbourne, Victoria.
Reference Materials
Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
Birt, J, Chalmers, K, Brooks, A, Byrne, S & Oliver, J 2017, Accounting: business reporting for decision making, 6th edn, John Wiley & Sons, Milton, Queensland.
Hoggett, JR, Edwards, L & Medlin, JF 2018, Accounting, 10th edn, John Wiley & Sons, Milton, Queensland.
Horngren, CT, Harrison, W, Oliver, S, Best, P, Fraser, D, Tan, R & Willett, R 2013, Accounting, 7th edn, Pearson Australia, Frenchs Forest, New South Wales.
Marshall, DH, McManus, WW & Viele, DF 2017, Accounting: what the numbers mean, 11th edn, McGraw Hill/Irwin, Boston, Massachusetts.
Student Workload Expectations
| Activity | Hours |
|---|---|
| Directed Study | 48.00 |
| Independent Study | 117.00 |
Assessment Details
| Description | Marks out of | Wtg (%) | Due Date | Notes |
|---|---|---|---|---|
| QUIZ 1 (Topic 1) | 20 | 10 | 03 Dec 2021 | (see note 1) |
| QUIZ 2 (Topic 2) | 20 | 10 | 17 Dec 2021 | (see note 2) |
| QUIZ 3 (Topics 3 & 4) | 30 | 15 | 07 Jan 2022 | (see note 3) |
| QUIZ 4 (Topic 5) | 30 | 15 | 21 Jan 2022 | (see note 4) |
| ONLINE EXAMINATION | 100 | 50 | End S3 | (see note 5) |
Notes
- Quiz 1 - including written reflection - Topic 1. The quizzes are designed to assess student knowledge/comprehension/application/problem solving and provide progressive feedback. They will be a mixture of theory and problem solving questions, and short answer. There is a practice online quiz which is formative (0%) only. This is to assist students to complete and manage online quizzes.
- Quiz 2 - Topic 2. The quizzes are designed to assess student knowledge/comprehension/application/problem solving and provide progressive feedback. They will be a mixture of theory and problem solving questions, and short answer. There is a practice online quiz which is formative (0%) only. This is to assist students to complete and manage online quizzes.
- Quiz 3 - Topics 3 and 4. The quizzes are designed to assess student knowledge/comprehension/application/problem solving and provide progressive feedback. They will be a mixture of theory and problem solving questions, and short answer. There is a practice online quiz which is formative (0%) only. This is to assist students to complete and manage online quizzes.
- Quiz 4 - Topic 5. The quizzes are designed to assess student knowledge/comprehension/application/problem solving and provide progressive feedback. They will be a mixture of theory and problem solving questions, and short answer. There is a practice online quiz which is formative (0%) only. This is to assist students to complete and manage online quizzes.
- This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
Important assessment information
-
Attendance requirements:
It is the students' responsibility to attend and participate appropriately in all activities scheduled for them, and to study all material provided to them or required to be accessed by them, to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item. -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course. -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
An Online Examination is one in which candidates may have access to any printed or written material. -
Examination period when Deferred/Supplementary examinations will be held:
Deferred and Supplementary examinations will be held in accordance with the Assessment Procedure . -
University Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at .
Assessment Notes
-
Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .
Other Requirements
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Students can expect that questions in assessment items in this course may draw upon knowledge and skills that they can reasonably be expected to have acquired before enrolling in this course. This includes knowledge contained in pre-requisite courses and appropriate communication, information literacy, analytical, critical thinking, problem solving or numeracy skills. Students who do not possess such knowledge and skills should not expect the same grades as those students who do possess them.