Category | Assignment | Subject | Accounting |
---|---|---|---|
University | KING’S OWN INSTITUTE | Module Title | ACC701 Financial Accounting |
1.1 Administrative Details
Associated HE Award(s) | Duration | Level |
Graduate Diploma of Business Master of Accounting Master of Professional Accounting |
1 trimester | Postgraduate |
This is a core subject for the Master of Accounting and the Master of Professional Accounting and elective subject for the Graduate Diploma of Business.
Indicated below is the weighting of this subject and the total course points.
Subject Credit Points | Total Course Credit Points |
4 |
GDBus 32; MAcc 48; MPA 64 |
Indicated below is the expected student workload per week for this subject
No. Timetabled Hours/Week* | No. Personal Study Hours/Week | Total Workload Hours/Week |
3 hours/week plus supplementary online material | 7 hours/week | 10 hours/week |
Total time spent per week at lectures and tutorials
Total time students are expected to spend per week in studying, completing assignments, etc.
Combination of timetable hours and personal study.
Mode of Delivery: Classes will be face-to-face or hybrid. Certain classes will be online (e.g., special arrangements).
Resource requirements specific to this subject: Students should have a non-programmable calculator. Applications in smartphones will not be sufficient to perform the required calculations in class.
Academic advising is available to students throughout teaching periods including the exam weeks. As well as requesting help during scheduled class times, students have the following options:
This subject introduces students to special topics relating to Australian financial reporting with an emphasis on recognition and measurement of assets and liabilities. It comprehensively covers a number of Australian-International Financial Reporting Standards relevant to reporting problems in particular areas (such as cash flows and revenue), and with reference to particular types of assets and liabilities (such as intangible assets, share-based payments, leases and complex financial instruments). In addition, the expanded disclosure is reviewed along with various proposals for strengthening external financial reporting.
Graduates of Postgraduate courses from King’s Own Institute will achieve the graduate attributes expected from successful completion of a Master’s degree under the Australian Qualifications Framework (2nd edition, January 2013). Graduates at this level will be able to apply an advanced body of knowledge from their major area of study in a range of contexts for professional practice or scholarship and as a pathway for further learning.
King’s Own Institute’s generic graduate attributes for master’s level degree are summarised below:
KOI Master’s Degree Graduate Attributes | Detailed Description |
Knowledge | Current, comprehensive and coherent knowledge, including recent developments and applied research methods |
Critical Thinking | Critical thinking skills to identify and analyse current theories and developments and emerging trends in professional practice |
Communication | Communication and technical skills to analyse and theorise, contribute to professional practice or scholarship, and present ideas to a variety of audiences |
Research and Information Literacy | Cognitive and technical skills to access and evaluate information resources, justify research approaches and interpret theoretical propositions |
Creative Problem Solving Skills | Cognitive, technical and creative skills to investigate, analyse and synthesise complex information, concepts and theories, solve complex problems and apply established theories to situations in professional practice |
Ethical and Cultural Sensitivity | Appreciation and accountability for ethical principles, cultural sensitivity and social responsibility, both personally and professionally |
Leadership and Strategy | Initiative, leadership skills and ability to work professionally and collaboratively to achieve team objectives across a range of team roles Expertise in strategic thinking, developing and implementing business plans and decision making under uncertainty |
Professional Skills | High level personal autonomy, judgement, decision- making and accountability required to begin professional practice |
Across the course, these skills are developed progressively at three levels:
o Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply them in stand-alone contexts
o Level 2 Intermediate – Students further develop skills, theories and techniques of the subject and apply them in more complex contexts, beginning to integrate the application with other subjects.
o Level 3 Advanced – Students have a demonstrated ability to plan, research and apply the skills, theories and techniques of the subject in complex situations, integrating the subject content with a range of other subject disciplines within the context of the course.
Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject:
a) Explain and apply the concepts and regulations relating to financial accounting in accounting settings
b) Articulate measurement issues related to the covered topics;
and locate and implement the disclosure requirements related to the covered topics
c) Identify and solve financial accounting problems by applying analytical and problem solving techniques
d) Demonstrate technical competence in the relevant complex areas of accounting where measurement and recognition judgements need to be made.
The assessments for this subject are described below. The description includes the type of assessment, its purpose, weighting, due date and submission requirements, the topic of the assessment, details of the task and detailed marking criteria, including a marking rubric for essays, reports, and presentations. Supplementary assessment information and assistance can be found in Moodle.
KOI expects students to submit their own original work in both assignments and exams, or the original work of their group in the case of group assignments. Material in assignments which comes from the work of others must be appropriately acknowledged.
Assessment Type: Online Moodle Quiz
Purpose: This assessment is designed to reinforce subject content taught each week allowing students to apply accounting principles to analyse and evaluate student comprehension, learning needs, and academic progress. The purpose of this assessment is to promote learning by considering the progress of each individual student at the early stage of trimester. This contributes to learning outcomes a, b and c.
Value: 5% Due Date: Week 4 Sunday 11.59 pm. Topic: Weekly subject content.
Task Details:
Each student is required to attempt the quiz through Moodle during week 4. This quiz consists of multiple-choice questions that will cover content from topics 1, 2 and 3.
This quiz will be located on the KOI Moodle subject homepage and will close at 11.59pm Sunday of Week 4.
Assessment Type: In-class test – Individual Assessment
Purpose: This assessment is designed to reinforce subject content taught during the trimester. This contributes to learning outcomes a, b, c, d.
Value: 15% Due Date: Week 7 Topic: Weeks 1 to 5 subject content.
Task Details: The class test may consist of various types of questions, which may include but are not limited to, short answer questions, multiple choice questions, matching exercises, fill-in-the-blank questions, true/false questions, accounting scenario-based questions, and problem analysis questions. This test is scheduled to take place during the class time in week 7 managed by the lecturer/s, and students must attend the campus on the exam day. All relevant arrangements and announcements will be communicated by the subject coordinator via Moodle. Students must bring their own laptop, charger, calculator and other relevant lecture materials. In class test cannot be taken on a mobile phone.
Assessment Type: Individual research assessment
Purpose: To allow students to apply the technical knowledge of relevant accounting standards to financial reporting settings. This assessment relates to learning outcomes c and d.
Value: 30% Due Date: Week 9 - 8:00 pm Wednesday of Week 9
Submission: Submission must be made via the Moodle assignment link on the KOI Moodle ACC701 home page by 8.00 pm AEST time on Wednesday of Week 9.
Topic: Reporting, Measurement and Disclosure of Intangible Assets Task Details:
The lecturer will nominate an ASX listed firm for each student. Each student is required to analyse its financial statement of the financial year ending in 2024. The analysis must focus on discussing the firm’s reporting and disclosure practices of intangible assets. In the discussion, detail the accounting policy that the firm follows in reporting, measuring, and disclosing its intangible assets and an analysis of accounting policies. The discussion must evaluate the current accounting treatment for the recognition and measurement of intangible assets under AASB138.
Research requirements: Students need to support their analysis with reference to relevant material from the textbook and minimum of eight (8) suitable, reliable, current, and academically acceptable sources - this should include at least 2 peer-reviewed academic journal articles.
Presentation: 2000 words (+/- 10%) short report format. Title page, executive summary, table of contents, appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing, and reference list (Harvard - Anglia style), attachments if relevant (as screenshots). Single spaced, font Times New Roman 12pt, Calibri 11pt or Arial 10pt.
Note: Students are required to reference all sources, including any GenAI tools used in preparing the assignment. Please refer to the "KOI Student Guidelines for AI" document, available in the Referencing section on the right sidebar of the Moodle homepage.
Assessment Type: Final Exam – individual assessment. Students should bring a non-programmable calculator to the exam. No other electronic or other aids will be permitted.
Duration: On-campus: 2 hours + 10 mins reading time.
Purpose: The purpose of the final examination is to test your understanding of the subject’s concepts and your ability to apply these concepts.
The examination may cover materials used in tutorials, class discussions and/or from the readings. This assessment contributes specifically to learning outcomes a, b, c and d.
Value: 50% Due Date: The final exam will be held in the official KOI exam period.
The specific date and time will be posted towards the end of the trimester.
Topic: The examination may cover content from any part of the entire subject.
Task Details: The final exam will require students to explain and apply the subject content to practical situations as would be found in a modern accountancy practice, identifying issues, drawing conclusions, and making recommendations.
a) Late Penalties and Extensions
An important part of business life and key to achieving KOI’s graduate outcome of Professional Skills is the ability to manage workloads and meet deadlines. Completing assessment tasks on time is a good way to master these habits.
Students who miss mid-trimester tests and final exams without a valid and accepted reason may not be granted a deferred exam and will be awarded 0 marks for the assessment item. Assessment items which are missed or submitted after the due date/time will attract a penalty unless there is a compelling reason (see below). These penalties are designed to encourage students to develop good time management practices, and to create equity for all students.
Any penalties applied will only be up to the maximum marks available for the specific piece of assessment attracting the penalty.
Late penalties, granting of extensions and deferred exams are based on the following:
In Class Tests and Quizzes (excluding Mid-Trimester Tests)
Written Assessments and Video Assessments
For group presentations, if serious circumstances prevent some members of the group from participating, the members of the group who are present should make their contributions as agreed. If a make-up presentation is approved, the other members of the group will be able to make their individual presentation later and will be marked according to the marking rubric. A video presentation may be used to facilitate the process.
Mid-Trimester Tests and Final Exams
If students are unable to attend mid-trimester tests or final exams due to illness, hardship or some other unavoidable problem (acceptable to KOI), they must:
b) Applying for an Extension
If students are unable to submit or attend an assessment when due, they must
c) Referencing and Plagiarism
Please remember that all sources used in assessment tasks must be suitably referenced.
Failure to acknowledge sources is plagiarism, and as such is a very serious academic issue. Students plagiarising run the risk of severe penalties ranging from a reduction in marks through to 0 marks for a first offence for a single assessment task, to exclusion from KOI in the most serious repeat cases.
Exclusion has serious visa implications. The easiest way to avoid plagiarising is to reference all sources.
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