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

ACC5502 Accounting and Financial Management

Semester 1, 2021 On-campus Toowoomba
Short Description: Accounting and Financial Mgt
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: Marie Kavanagh

Requisites

Pre-requisite: Students enrolled in one of the following Programs: Master of Professional Accounting (MPAC) or Master of Business Administration & Master of Professional Accounting (MBAC) are not eligible for enrolment

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

Rationale

The purpose of this course is to develop the ability of non-accountants to use accounting and finance information to increase the effectiveness of their decision making. Understanding, interpreting, analysing and using accounting and finance data has always been essential for business sustainability, however the impacts of globalisation make the learning of accounting and finance tools and concepts an imperative for all managers who want to creatively address problems and find real world solutions.

Synopsis

Accounting and finance knowledge is crucial in effectively managing organisations. This course provides a broad understanding of accounting and finance tools and concepts. These tools are widely used in business practice and successful completion of this course will enable students to make considered and knowledgeable business decisions. The course will cover the use and interpretation of financial and management reports to help plan, control and evaluate in today's business environment.

Objectives

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

  1. demonstrate applied knowledge of the accounting regulatory environment and the accounting and finance processes, systems, concepts and techniques used globally in business practice;
  2. apply financial statement analysis, management accounting concepts and finance frameworks to identify and solve complex organisational problems creatively and practically to increase the effectiveness of management decision making that provides solutions to real world problems;
  3. apply financial statement analysis, management accounting concepts and finance frameworks to changing global and economic conditions and to help assess the impact on organisational systems;
  4. apply and use financial statement analysis, management accounting concepts and finance frameworks with other evidence to provide solutions to real world problems;
  5. appreciate ethical frameworks and codes of practice and their application to accounting and finance outcomes to help comprehend and address complex ethical dilemmas.

Topics

Description Weighting(%)
1. Accounting and the business regulatory environment 8.00
2. Ethics and corporate governance 8.00
3. Financial accounting 34.00
4. Management accounting 34.00
5. Finance 16.00

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=2021&sem=01&subject1=ACC5502)

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

Birt, J, Chalmers, K, Maloney, S, Brooks, A & Oliver, J 2020, Accounting: business reporting for decision making, 7th edn, John Wiley & Sons, Milton, Queensland.

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.
Atrill, P & McLaney, E 2019, Accounting and finance: an introduction, 10th edn, Pearson Education, Harlow, England.

Student workload expectations

Activity Hours
Directed Study 36.00
Independent Study 129.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ASSIGNMENT 1 100 25 19 Apr 2021 (see note 1)
ASSIGNMENT 2 100 25 14 May 2021 (see note 2)
OPEN EXAM - TAKE HOME 100 50 End S1 (see note 3)

Notes
  1. Discussion, critical thinking and problem-solving questions relating to ethics, governance and financial accounting.
  2. Discussion, critical thinking and problem-solving questions relating to management accounting and financing issues.
  3. This will be a take home exam. Students will be provided further instruction regarding the exam by their examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.

Important assessment information

  1. 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.

  2. Requirements for students to complete each assessment item satisfactorily:
    Due to COVID-19 the requirements for S1 2021 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.

    Requirements after S1, 2021:
    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:
    Due to COVID-19 the requirements for S1 2021 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

    Requirements after S1, 2021:
    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).

  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:
    Due to COVID-19 the requirements for S1 2021 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.

    Requirements after S1, 2021:
    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 examination for this course are:
    1. writing materials (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 (students must indicate on their examination paper the make and model of any calculator they use 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:
    Normally Deferred and Supplementary Examinations are held in the next Examination period. In S1 2021 selected courses will pilot an early Deferred and Supplementary Examination period held within 30 business days of results release. The list of courses involved can be found at https://cmsauth.usq.edu.au/current-students/academic/exams/supplementary-and-deferred-assessment.

  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 http://www.usq.edu.au/library/referencing.

Date printed 18 June 2021