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The current and official versions of the course specifications are available on the web at //www.usq.edu.au/course/specification/current.
Please consult the web for updates that may occur during the year.

ACC1101 Accounting for Decision-Making

Semester 2, 2015 On-campus Toowoomba
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce

Contents on this page

Staffing

Examiner: Christina James-Overheu
Moderator: Mark Vallely

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 //www.usq.edu.au/current-students/support/computing/hardware.

Rationale

This course is designed as an introduction to accounting and commerce. Students cover the fundamentals of both financial and management accounting, and an introduction to tools for managers to analyse financial information and improve their business decisions.

Synopsis

This course introduces students to the world of business. It emphasises the practical and functional nature of business decisions from the perspective of financial accounting; managerial costing and budgetary policies; investing; and financing of business operations. 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. As it is important to develop an understanding not only of how the accounting reports are used, but how they are derived, the course also addresses the procedures underlying their preparation. The course develops students' ability to work in teams, solve problems and encourages self-management.

Objectives

On successful completion of this course students should be able to demonstrate:

  1. professional literacy through an understanding of the environment in which businesses operate in Australia and the importance of accountability in decision making
  2. an understanding of the need for career development building and management, networking and teamwork to enhance future employability through reflective practice and learning
  3. an understanding of how a business operates with regard to decision making, planning and control through management planning techniques and business investment appraisal tools.
  4. problem solving through a theoretical and practical knowledge of the principles that underpin financial accounting systems and financial reports, and performance evaluation through financial statement analysis techniques
  5. ethical research and enquiry, an understanding of sustainability issues and the implications of triple bottom line accounting in the context of key factors that are relevant to operating a sustainable business.

Topics

Description Weighting(%)
1. Introduction to business accounting and the role of professional skills including professional skills development 8.00
2. Developing a business plan: cost-volume-profit 8.00
3. Developing a business plan: budgeting 8.00
4. The accounting system: concepts and application 9.00
5. Recording, storing and reporting accounting information 9.00
6. Managing and reporting working capital 9.00
7. The income statement: content and use 9.00
8. The balance sheet: content and use 8.00
9. The cash flow statement: content and use 8.00
10. Sustainable business 8.00
11. Short term planning decisions 8.00
12. Capital expenditure decisions 8.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (https://bookshop.usq.edu.au/bookweb/subject.cgi?year=2015&sem=02&subject1=ACC1101)

Please contact us for alternative purchase options from USQ Bookshop. (https://bookshop.usq.edu.au/contact/)

  • Cunningham, BM, Nikolai, LA, Bazley, JD, Kavanagh, M, Slaughter, G & Simmons, S 2014, Accounting: information for business decisions, 2nd 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 2011, Accounting: business reporting for decision making, 3rd edn, John Wiley & Sons, Milton, Queensland.
  • Hoggett, JR, Edwards, L & Medlin, JF 2011, Accounting, 8th 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 2010, Accounting: what the numbers mean, 9th edn, McGraw Hill/Irwin, Boston, Massachusetts.

Student workload requirements

Activity Hours
Assessments 20.00
Directed Study 52.00
Private Study 93.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ONLINE TEST 1 20 10 14 Aug 2015 (see note 1)
ASSIGNMENT 15 15 10 Sep 2015
ONLINE TEST 2 30 15 09 Oct 2015
EXAMINATION 2 HOURS 100 60 End S2 (see note 2)

NOTES
  1. Students should attempt ALL online tests. There is a practice online test which is formative (0%) only. This is to assist students to complete and manage online tests. Online test 1 is worth 10% and online test 2 is worth 15% (25% in total). Students are strongly encouraged to complete tests as they fall due in order to keep up with course content.
  2. The examination date will be available via UConnect when the official examination timetable has been released.

Important assessment information

  1. Attendance requirements:
    External/Online: If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility 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.

    On-campus: It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) 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.

  2. 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. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure http://policy.usq.edu.au/documents.php?id=14749PL (point 4.2.4)

  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.

  5. 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.

  6. Examination information:
    This is a restricted examination. Candidates are allowed access only to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are:
    1. writing materials. These must be non-electronic and free from material which could give the student an unfair advantage in the examination.
    2. a calculator which cannot hold textual information. The student must indicate on the examination paper the make and model of any calculator(s) used during the examination.
    3. an unmarked non-electronic translation dictionary (but not technical dictionary). A student whose first language is not English may take a translation dictionary into the examination room. A translation dictionary with any handwritten notes will not be permitted. Translation dictionaries will be subject to perusal and may be removed from the candidate's possession until appropriate disciplinary action is completed if found to contain material that could give the candidate an unfair advantage.


  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. 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 http://policy.usq.edu.au.

Assessment notes

  1. 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 //www.usq.edu.au/library/referencing.

Other requirements

  1. 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.