ACC1101 Accounting for Decision-Making
|Semester 2, 2019 On-campus Springfield|
|Short Description:||Accounting for Decision-Making|
|Faculty or Section :||Faculty of Business, Education, Law and Arts|
|School or Department :||School of Commerce|
|Student contribution band :||Band 3|
|ASCED code :||080101 - Accounting|
|Grading basis :||Graded|
Examiner: Raymond Leong
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 http://www.usq.edu.au/current-students/support/computing/hardware.
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; managerial costing and budgetary policies; investing; 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.
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.
On successful completion of this course students should be able to:
- communicate clearly using professional literacies which include an understanding of 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
- understand the use of basic financial reports in communicating information to stakeholders and in providing relevant information for financial decision making
- demonstrate the ability to select and apply appropriate business-related knowledge and technical skills to resolve basic problems whilst considering basic ethical implications.
|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 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://omnia.usq.edu.au/textbooks/?year=2019&sem=02&subject1=ACC1101)
Please contact us for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Student workload expectations
|Description||Marks out of||Wtg (%)||Due Date||Notes|
|ONLINE TEST 1||20||10||12 Aug 2019||(see note 1)|
|ASSIGNMENT||90||15||16 Sep 2019|
|ONLINE TEST 2||30||15||30 Sep 2019|
|EXAMINATION||100||60||End S2||(see note 2)|
- 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.
- This is a restricted examination. The total working time for the examination is 2 hours. The examination date will be available via UConnect when the official examination timetable has been released.
Important assessment information
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. (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.)
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)
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.
Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.
To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure http://policy.usq.edu.au/documents/14749PL (point 4.4.2).
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.
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:
- writing materials. These must be non-electronic and free from material which could give the student an unfair advantage in the examination.
- 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.
- 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.
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.
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.
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 http://www.usq.edu.au/library/referencing.
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.