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School of accounting
ACCT1501
ACCOUNTING AND FINANCIAL
MANAGEMENT 1A
COURSE OUTLINE
SEMESTER 1, 2015
business.unsw.edu.au
CRICOS Code 00098G
TABLE OF CONTENTS
PART A. COURSE SPECIFIC INFORMATION
2. COURSE DETAILS
4
4
4
4
5
6
7
4. ASSESSMENT
9
9
5. COURSE RESOURCES
14
15
7. COURSE SCHEDULE
16
3.1. Workload
3.2. Attendance
3.3. General Conduct and Behaviour
3.4. Occupational Health and Safety
3.5. Keeping Informed
2
2
2
2
3
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Name
Location
Phone
Lecturer-in-charge
(LIC)
Lecturer
ACCT1501@unsw.edu.au
QUAD 3069
9385 6081
Jeffrey Knapp
j.knapp@unsw.edu.au
QUAD 3103
9385 5940
Lecturer
r.jidin@unsw.edu.au
QUAD 3114
9385 9790
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2. COURSE DETAILS
2.1. Teaching Times and Locations
It is essential that you attend the lecture and tutorial in which you are formally
enrolled. All lectures and tutorial spaces have been allocated. If you attend a
different time slot, there may not be a seat available.
TIME
THEATRE
A
B
C
D
E
15:00 17:00
12:00 14:00
14:00 16:00
11:00 13:00
18:00 20:00
Burrows Theatre
MathewsTheatre A
MathewsTheatre A
Burrows Theatre
CLB 8
Thursday
Thursday
Tuesday
Wednesday
Wednesday
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This course is offered by the School of Accounting and may form part of an accounting
major, double major or disciplinary minor within the Bachelor of Commerce or Bachelor
of Economics degrees. This course also constitutes part of the core curriculum of
studies required by professional accounting bodies, namely CPA Australia, Chartered
Accountants Australia+New Zealand and the Institute of Public Accountants (IPA).
Accounting and Financial Management 1A forms an integrated study program
designed to give students an understanding of the way in which financial information is
generated and used. Many students undertaking this course will study accounting as a
major and will undertake Accounting and Financial Management 1B.
Accounting and Financial Management 1A (ACCT1501) is concerned with the
design and analysis of accounting information systems. The assumptions and choices
made in the design of an accounting system are explored with particular attention given
to financial reporting to external stakeholders and management accounting which
revolves around reporting to internal stakeholders of the business.
Accounting and Financial Management 1B (ACCT1511) introduces cash flow
statements and considers issues such as recognition and disclosure of financial
statement elements, professional ethics, and accounting policy. In addition to the
preparers perspective, it also considers the perspective of a user of financial
information with an introduction to financial statement analysis and managerial decision
making.
Taken together, the first year accounting courses seek to develop technical
competence in recording economic events in the accounting system; a critical
understanding of key technical terms and concepts so as to interpret accounting
information and reports in the financial press; an ability to argue a reasoned position on
key questions of accounting theory and practice; and familiarity with institutional
structures that affect the practice of accounting.
2.5. Student Learning Outcomes
The following table shows how these Course Learning Outcomes relate to the overall
Program Learning Goals and Outcomes, and indicates where these are assessed:
Program Learning
Goals and
Outcomes
This course helps you
to achieve the
following learning
goals for all Business
undergraduate
students:
1
Knowledge
Course Assessment
Item
Tutorial
participation
Multiple choice
online quiz
Mid-session test
On-line practice
set
Final examination
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Critical thinking
and problem
solving
3a
Written
communication
3b
Oral
communication
Teamwork
5.
Ethical,
environmental
and
sustainability
responsibility
Tutorial
participation
Multiple choice
online quiz
Mid-session test
On-line practice
set
Final examination
Tutorial homework
Mid-session test
Final examination
Tutorial
individual/group
participation
Tutorial group
participation
Tutorial
participation
Multiple choice
online quiz
Final examination
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Lectures
Each student is required to register for a lecture time via the NSS system, accessed
through the myUNSW portal. There are two hours of lectures per week, which are held
in two hour blocks commencing week 1 until week 12. In consideration to other
students please: arrive on time, turn off your mobile phones, attend your registered
lecture and refrain from distracting or disruptive behaviour when the lecturer is
presenting. You will also be expected to participate in the activities in the lecture which
have been carefully designed to enhance your learning and understanding of the
subject material.
The purpose of lectures is to introduce and explain concepts that are critical to the core
themes of the course. In order to maximise the benefits of attending lectures, students
are expected to read the relevant study materials thoroughly before attending lectures.
Copies of the lecture notes will be available before the lecture for you to download and
bring to class. Students are expected to take notes during the lecture. Additional
lecture notes or slides (i.e. additional to the content on Moodle) will not be provided
after the lecture. Lecturers will provide in-class worked examples of exam type
problems and engage students in class discussion. The model of teaching in lectures is
an interactive one, so ensure you attend lectures prepared to contribute and participate
1
From The First Year Experience, Ann Game and Andrew Metcalfe, Federation Press,
2003. This book gives great advice on how to start, stay and succeed at uni.
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in small group discussion and seek clarification if you dont understand something. We
will also use in-class real-time quizzes.
We will also provide a podcast of the lecture material which will be made available to
you after the weeks lectures. However, we suggest this is not an effective substitute
for the face-to-face interaction in a real-time lecture setting and we recommend you
use it as an additional study resource. Other than the podcast resource the school
provides, lectures may not be recorded or reproduced without the written consent of
the lecturer.
Tutorials
Each student is required to register for a tutorial group via the NSS system, accessed
through the myUNSW portal. Tutorials are one hour per week and will be held each
week from weeks 2 to 13. Students must attend the tutorial they have been formally
allocated. The tutorials constitute the core learning experience of this course. During
tutorials, students will be encouraged to discuss and critique accounting concepts and
problems in a team learning environment, and to discuss and present their findings to
the rest of the class.
It is essential that, prior to a tutorial, you read the relevant course materials and
prepare written responses to all questions assigned. In AFM1A we set two types of
questions: preparation questions and tutorial questions (all questions must be
attempted before your tutorial session). All students are expected to complete the
preparation questions and check their solutions prior to attending tutorials. The
solutions to the preparation questions will be posted on Moodle by the end of the week
prior to the tutorial being held. If you have any queries or problems with the preparation
questions and the solutions provided you should raise this in your tutorial or see your
tutor in consultation time. Tutorial questions should also be attempted prior to your
tutorial session and will be discussed in the tutorial time. You are expected to prepare
for the tutorial questions, including the case studies. Lack of preparation is one of the
most common reasons why students fail this course and it will impact your overall
success in this course as 10% of the total marks for the course are dependent on
your tutorial preparation and contribution in class. The solutions to the tutorial
questions will be posted on Moodle at the end of the week after they have been
discussed in class.
Self-Study
Self-study is a key element of the learning design of this course. From time to time,
self-study materials will be posted on Moodle to facilitate deeper learning of core
elements of the course. The aim of these self-study questions is to encourage students
to assume responsibility in their learning process, and to make the tutorials more
effective. Thus, the onus is on students to review and complete these materials. The
teaching team will be available in consultation hours to assist with difficulties
experienced with self-study materials.
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4. ASSESSMENT
4.1. Formal Requirements
To be eligible for a passing grade in this course, students must:
(a)
(b)
Please note that there will only be ONE supplementary exam which will be held on 14
July 2015. It is the students responsibility to ensure that he or she is available on the
date of the supplementary exam (see Part B.3 for supplementary exam information).
A pass conceded (PC) grade may only be granted by the Australian School of
Business Assessment Committee, and not the Head of School, Course Coordinator or
Lecturer-in-Charge. Please do not approach the Lecturer-in-Charge seeking a PC
grade as it is beyond the scope of the LICs role and authority.
4.2. Assessment Details
The composite mark for ACCT1501 will be calculated as follows.
Assessment Task
Tutorial Participation
Multiple Choice On-line Quiz
Weighting
10%
15%
Mid-session Test
On-Line Practice Set
Final examination
15%
10%
50%
TOTAL
100%
Due Date
Weeks 2 - 13
Quiz 1 March 27 @ 3pm
Quiz 2 April 24 @ 3pm
Quiz 3 May 29 @ 3pm
Week 8
Monday May 18 @ 3pm
Exam Period
(June 12 June 29)
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2
3
A student who has attended fewer than 10 tutorials will receive 0 marks, as
per UNSW and Business School rules. Students MUST arrive at the tutorial
room within 10 minutes of the start of class to qualify as in attendance.
A student who has attended 10 to 12 tutorials, but has not contributed to
class discussions, will receive up to a maximum of 1 mark.
A student who has attended 10 to 12 tutorials and voluntarily contributed to
3 class discussions in a constructive way will receive a maximum of 2
marks depending on the contributions.
A student who has attended 10 to 12 tutorials and voluntarily contributed to
6 class discussions in a constructive way will receive a maximum of 3
marks depending on the contributions.
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have sufficient knowledge to commence the practice set at the end of week 7. You
must manage your time to ensure you will be able to complete it by the due date.
The practice set is designed to test the following criteria: your technical competence
and understanding of the accounting cycle and operation of an accounting information
system; your ability to identify and accurately record events and post them correctly to
the appropriate accounts; and your ability to prepare a bank reconciliation and month
end accounts. Once you have submitted your answers on-line, you will be provided
with immediate performance feedback and a final score.
How to access the Perdisco online practice set
Students are required to complete an online practice set that will count towards the
overall assessment mark for this unit. Through the completion of a one month
accounting cycle for a fictional business, you will gain experience in the practical and
technical skills essential to accounting.
The practice set provides each student with a unique accounting scenario and
therefore must be completed on an individual basis. The practice set is a large activity,
taking up to 20 study hours to complete over a number of days or weeks. Please
ensure that you leave yourself enough time to complete this activity before its
submission deadline.
Answers to the practice set are submitted online. However, it is possible to print each
page of the practice set in order to work on it offline. Once each page is submitted, you
will be provided with immediate performance feedback and a final score.
The online practice set is available from within your Perdisco account. To access the
practice set, please:
1. Create an account at www.perdisco.com.au/login or through its link on moodle
2. Once registered, click Add a product to my account
3. Select your course from the available options
4. Click How do I pay? for the payment options available.
5. Ensure you register with your correct student identity number (SID, e.g.,
z8888888). If you do not provide your correct SID number, we may not be able
to apply your score to your student records and therefore your final results for
this course.
6. You must register to complete the Perdisco Practice Set only once. To register
to undertake the Practice Set more than once is effectively cheating and
therefore student gross misconduct. You will be reported to the faculty for
this breach of conduct and receive a score of zero on this assessment
task.
In the interest of student access and equity, free virtual library copies of the
practice set are provided through an Electronic Special Reserve (ESR) service on
the Perdisco website. ESR operates in a similar way to the provision of free
'library copies' of a textbook. Just like a real library copy, access to Perdisco's ESR
copies is limited by time and number of users. Each ESR copy can be used by many
different students each day between the hours of 6.00 am and 10.00 pm. Once a
student logs into an ESR copy of their Perdisco Practice Set, that copy remains
exclusively available to that particular student for the following two hours. After this
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time, the student is automatically logged out and the ESR copy becomes available for
other students to use. ESR provides students with free access to their Perdisco
Practice Set from any internet connected computer (at home, in an internet caf or on
campus). For more information, click ESR info after registration. Tip for using ESR:
avoid leaving your work to the last minute when demand for ESR copies of the
practice set is likely to be high.
If you choose to pay for the practice set to enjoy the convenience of unlimited
access at any time, please note that the practice set is $24.95 per student. You
can purchase the practice set by accessing and registering with Perdisco at
www.perdisco.com.au/login or through its link in the Moodle website. Payment can be
made online by credit card or PayPal. Payment instructions are provided after
registration.
When you login to your practice set, you will see a Student Companion and Helpful
Hints document on your practice set home page. Please read this document because
it gives you information that will help you to successfully complete the practice set.
You must complete and submit your answers to the Perdisco online practice set by the
end of week 10. The completion of the Perdisco practice set is due on Monday 18
@ 3pm.
Please note that, given the nature of the computerised assignment, late submissions
will not be accepted. Your mark will be based on the work completed by the deadline.
Final Examination (50%)
Students are required to sit for a final examination paper in this course. The final exam
will test your technical competence and accuracy in problem solving, your
understanding of accounting concepts, and your ability to critically analyse and
articulate your understanding of accounting issues. Students will be advised of the
general format and content of the final examination during the lecture in Week 12.
Quality Assurance
The Business School is actively monitoring student learning and quality of the student
experience in all its programs. A random selection of completed assessment tasks may be
used for quality assurance, such as to determine the extent to which program learning goals
are being achieved. The information is required for accreditation purposes, and aggregated
findings will be used to inform changes aimed at improving the quality of Business School
programs. All material used for such processes will be treated as confidential.
5. COURSE RESOURCES
Student Resources
There are three required resources for AFM1A.
The required textbook for first-year courses in Accounting (AFM1A and 1B) is:
1. Trotman, K. Gibbins, M. & Carson, E., 2013 Financial Accounting: An
Integrated Approach 5th edition + Management Accounting Supplement,
Melbourne: Thomson Nelson ITP. This is the most recent edition and any
previous editions must not be used as a substitute.
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CRICOS Code 00098G
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Week
7. COURSE SCHEDULE
Week
Beginning
March 2
March 9
March 16
March 23
March 30
Preparation
Tutorial
Lecture Topics
Questions
Questions
Introduction to Financial
No Tutorial classes this week
Accounting (Ch 1)
Lecturer: Youngdeok
DQ 1.1, 1.2, 1.7, 1.12,
DQ 1.3, 1.16,
Measuring & Evaluating
P1.6, P1.14,
P1.7, P1.12, P1.23
Financial Position & Financial
Case 1A
Performance (Ch 2)
Lecturer: Youngdeok
DQ 2.1, 2.2, 2.11,
DQ 2.6, 2.10,
The Double Entry System (Ch 3)
P1.18, P2.3, Case 2A
P2.7, P2.9, P2.11, P2.16
Lecturer: Youngdeok
On-line Quiz 1: March 20 March 27
Record-Keeping (Ch 4)
Lecturer: Youngdeok
Accrual Accounting Adjustments
(Ch 5) Lecturer: Jeffrey
DQ 3.2, 3.4,
P3.16, P3.18, Case 3A
DQ 4.2, 4.6, 4.7, 4.16,
P4.2, P4.10, Case 4A
April 13
DQ 5.10, 5.19,
P5.7, P5.9, P5.13
April 20
May 4
10
May 11
11
May 18
12
May 25
13
June 1
DQ 9.2,
P9.2, P9.6,
Case 9B*
DQ10.14
P10.12, P10.16
DQ 6.1, 6.2, 6.3, 6.12,
DQ 6.17, DQ7.8
6.16, 6.17, P6.9, P6.11,
P6.3, P6.4, P7.7
DQ 7.1, 7.7, 7.32,
Case 6A (Parts 1-5, 8P7.3, P7.9, P7.10
10)*
Practice Set Assignment (10%) is due this week (Monday May 18 @ 3pm)
DQ 15.3, 15.8, 15.9,
Mid-Session Test
Management Accounting:
15.11, P15.2, P15.3,
feedback &
Introduction and Cost Concepts
P15.13, Case 15A
DQ 15.20,
Lecturer: Radzi
P15.11, P15.12
On-line Quiz 3: May 22 May 29
DQM1.3, 1.4, 1.5, 1.9,
DQM1.11
Management Accounting: CVP
1.12,
PM1.1, PM1.4, PM1.7,
Analysis
PM1.3, PM1.6, PM1.9
PM 1.10*
Lecturer: Radzi
DQM2.1, 2.3, 2.7,
DQM2.5
PM2.1, PM2.7, PM2.9,
PM2.8, PM2.10,
PM2.11
PM2.14*
Study Period: June 6 to June 11
Financial Reporting Principles,
Accounting Standards and
Auditing, and Sustainability
reporting (Ch 6 & 7)
Lecturer: Radzi
Financial Statement Analysis
Basic (Ch 15)
Lecturer: Radzi
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CRICOS Code 00098G
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practice.
You should be able to:
a. Identify and assess ethical, environmental and/or sustainability considerations in
business decision-making and practice, and
b. Identify social and cultural implications of business situations.
3.1. Workload
It is expected that you will spend at least nine to ten hours per week studying this course. This
time should be made up of reading, research, working on exercises and problems, online
activities and attending classes. In periods where you need to complete assignments or prepare
for examinations, the workload may be greater.
Over-commitment has been a cause of failure for many students. You should take the required
workload into account when planning how to balance study with employment and other
activities.
We strongly encourage you to connect with your Moodle course websites in the first week of
semester. Local and international research indicates that students who engage early and often
with their course website are more likely to pass their course.
Information on expected workload: https://student.unsw.edu.au/uoc
3.2. Attendance
Your regular and punctual attendance at lectures and seminars is expected in this course.
University regulations indicate that if students attend less than 80% of scheduled classes they
may be refused final assessment. For more information, see:
https://student.unsw.edu.au/attendance
The policy of the School of Accounting is that the lecturer-in-charge will need to be satisfied on
each of the following before supporting a request for special consideration:
1. Does the medical certificate contain all relevant information? For a medical certificate
to be accepted, the degree of illness, and impact on the student, must be stated by
the medical practitioner (severe, moderate, mild). A certificate without this will not be
valid.
2. Has the student performed satisfactorily in the other assessment items? Satisfactory
performance would require all assessment tasks attempted and a satisfactory result
in each assessment item specified in the Course Outline and meeting the obligation
to have attended 80% of tutorials.
3. Does the student have a history of previous applications for special consideration? A
history of previous applications may preclude a student from being granted special
consideration.
Special Consideration and the Final Exam:
Applications for special consideration in relation to the final exam are considered by a Business
School Faculty panel to which lecturers-in-charge provide their recommendations for each
request. If the Faculty panel grants a special consideration request, this will entitle the student to
sit a supplementary examination. No other form of consideration will be granted. The following
procedures will apply:
1. Supplementary exams will be scheduled centrally and will be held approximately
two weeks after the formal examination period. The dates for Business School
supplementary exams for Semester 1, 2015 are:
th
14 July exams for the School of Accounting
th
15 July exams for all Schools except Accounting and Economics
th
16 July exams for the School of Economics
If a student lodges a special consideration for the final exam, they are stating they
will be available on the above dates. Supplementary exams will not be held at
any other time.
2. Where a student is granted a supplementary examination as a result of a request for
special consideration, the students original exam (if completed) will be ignored and
only the mark achieved in the supplementary examination will count towards the final
grade. Failure to attend the supplementary exam will not entitle the student to have
the original exam paper marked and may result in a zero mark for the final exam.
If you attend the regular final exam, you are extremely unlikely to be granted a supplementary
exam. Hence if you are too ill to perform up to your normal standard in the regular final exam,
you are strongly advised not to attend. However, granting of a supplementary exam in such
cases is not automatic. You would still need to satisfy the criteria stated above.
The Business Schools Special Consideration and Supplementary Examination Policy and
Procedures for Final Exams for Undergraduate Courses is available at:
www.business.unsw.edu.au/Students-Site/Documents/supplementary_exam_procedures.pdf.
special consideration will be granted for the Perdisco on-line Practice Set or the on-line MCQ
quizzes.
Business School
ACCT1501 Accounting and Financial Management 1A
Session 1 2015
There will be 3 separate quizzes each worth 5%; they will equal 15% of the total
assessment marks for this course.
Each quiz will be open for 1 week.
o Quiz 1 opens on Friday (20 March) at 3pm and remains open until Friday (27
March) at 3pm.
o Quiz 2 opens on Friday (17 April) at 3pm and remains open until Friday (24 April)
at 3pm.
o Quiz 3 opens on Friday (22 May) at 3pm and remains open until Friday (29 May)
at 3pm.
Each quiz will have 20 questions (5 % of your overall assessment) from the following
chapters :
o Quiz 1: Chapters 1, 2, 3
o Quiz 2: Chapters 4, 5, 5A, 8
o Quiz 3: Chapters 6, 7, 9, 10, 15 & Management accounting
You will not be timed, but we recommend you complete each quiz within 40 minutes.
There will be no penalty if you go over the recommended time.
You will only have one attempt to complete and submit each quiz.
The question sets are randomly allocated to each student. You will have different
questions than other students, but they will be the same level of difficulty. The questions
are all of equal value.
Do NOT wait until the last day to complete the quiz as there will be
NO opportunity to complete the quiz once it has closed.
After the quiz has closed, you will be able to access the feedback and answers by checking
Grades in Moodle.
If you experience technical problems with your submission (e.g. your computer network
crashes or some other IT related problem occurs), please email
ACCT1501@unsw.edu.au with the details of the problem and the screen shot of the
technical error message.
This will be investigated, and we will attempt to resolve the problem. Only emails from
your UNSW student email will be answered. Lecture staff will NOT handle these enquiries.
Do NOT email or phone the lecturing staff or tutors with this problem.
We will clear any quiz attempts that have had technical problems each day by 1 pm.
We need at least 24 hours to investigate your problem and reset the quiz. Check your
submission the following day after 1pm.
You must lodge your request before 12 noon on the due date if you require our
assistance. Requests received after that time will not be processed.
Business School
ACCT1501 Accounting and Financial Management 1A
Session 1 2015
PASS Leader
Darshi Niranjan
Vicki Wang
Lohith Kumar
Joshua Golberg
Day
Monday
Monday
Tuesday
Tuesday
Time
1-3pm
3-5pm
1-3pm
3-5pm
Location
Mathews 313
SqHouse 208
QUAD G048
Mathews 301
5
6
7
Sarah Hu
Benjamin Deng
Christopher Chiam
Wednesday
Thursday
Friday
3-5pm
1-3pm
11-1pm
Mathews 301
ASB 130
QUAD G040