Assesment 2
KING’S OWN INSTITUTE* Success in Higher Education ACC701 FINANCIAL ACCOUNTING T319 All information contained within this Subject Outline applies to all students enrolled in the trimester as indicated. 1. General Information 1.1 Administrative Details Associated HE Award(s) Duration Level Subject Coordinator Graduate Diploma of Business Master of Accounting Master of Professional Accounting 1 trimester Postgraduate Patricia Vakafua
[email protected] P: 92833583 L: Level 1, 545 Kent St. Consultation: via Moodle or by appointment 1.2 Core/Elective 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. 1.3 Subject Weighting 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 1.4 Student Workload 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*** 4 hours/week (2 hour Lecture + 2 hour Tutorial) 6 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. 1.5 Mode of Delivery On-campus 1.6 Pre-requisites ACC700 Principles of Accounting 1.7 General Study and Resource Requirements o Students are expected to attend classes with the weekly worksheets and subject support material provided in Moodle. Students should read this material before coming to class to improve their ability to participate in the weekly activities. o Students will require access to the internet and their KOI email and should have basic skills in word processing software such as MS Word, spreadsheet software such as MS Excel and visual presentation software such as MS PowerPoint. o Computers and WIFI facilities are extensively available for student use throughout KOI. Students are encouraged to make use of the campus Library for reference materials. Resource requirements specific to this subject: Students should have a non-programmable calculator. Applications in smart phones will not be sufficient to perform the required calculations in class. ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 1 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 mailto:
[email protected] ACC701 2. Academic Details 2.1 Overview of the Subject 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. 2.2 Graduate attributes for postgraduate courses Graduates of Postgraduate courses from King’s Own Institute will gain 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 in a range of contexts for professional practice or scholarship and as a pathway for further learning. King’s Own Institute’s key generic graduate attributes for a master’s level degree are summarised below: 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. 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 ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 2 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 ACC701 2.3 Subject Learning Outcomes Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject: Subject Learning Outcomes Contribution to Course Graduate Attributes 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. 2.4 Subject Content and Structure Below are details of the subject content and how it is structured, including specific topics covered in lectures and tutorials. Reading refers to the text unless otherwise indicated. Weekly Planner: Week (beginning) Topic Covered in Each Week’s Lecture Reading(s) Expected work as listed in Moodle 1 04 Nov Accounting regulation and the conceptual framework Loftus: Ch. 1 Tutorial exercises as listed in Moodle 2 11 Nov Statement of cash flows Loftus: Ch. 17 AASB 107 Tutorial exercises 3 18 Nov Revenue Loftus: Ch. 15 AASB 15 Tutorial exercises 4 25 Nov Intangible assets Loftus: Ch. 6 AAS8 138 Tutorial exercises 5 02 Dec Employee benefits Loftus: Ch. 9 AASB 119 Tutorial exercises 6 09 Dec Mid trimester test Assignment review Mid trimester exams 7 16 Dec Share-based payments Loftus: Ch. 14 AASB 2 Tutorial exercises 22 Dec 2019 – 05 Jan 2020 Mid trimester break 8 06 Jan Leases Loftus: Ch. 10 AASB 16 Tutorial exercises 9 13 Jan Financial instruments Part I Ch. 11 (pp. 401-415) AASB 7, 9, 132 Case study due Deferred mid trimester exams - see Section 2.6 below for more information 10 20 Jan Financial instruments Part II Loftus: Ch. 11 (pp. 416-454) AASB 7, 9, 132 Tutorial exercises ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 3 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 ACC701 11 27 Jan Earnings per share Loftus: Ch. 19 AASB 133 Tutorial exercises 12 03 Feb Revision lecture Revision exercises 13 10 Feb Study Review Week 14 17 Feb Final Exam Week Please see exam timetable for exam date, time and location 15 23 Feb Student Vacation begins Enrolments for T120 open 16 02 Mar Results Released 04 Mar 2020 Certification of Grades 07 Mar 2020 T120 begins 09 Mar 2020 1 09 Mar Week 1 of classes for T120 Friday 06 Mar 2020 – Review of Grade Day for T319 – see Sections 2.6 and 3.6 below for more information. 2.5 Public Holiday Amendments Please note: KOI is closed on all scheduled NSW Public Holidays. T319 has one (1) public holiday (Australia Day) that occurs during classes this trimester. Classes scheduled for this public holiday (Calendar Class Dates) will be rescheduled as per the table below. This applies to all subjects taught in T319. Please see the table below and adjust your class timing as required. Please make sure you have arrangements in place to attend the rescheduled classes if applicable to your T319 enrolment. Classes will be conducted at the same time and in the same location as your normally scheduled class except these classes will be held on the date shown below. Calendar Class Date Rescheduled Class Date Monday 27 January 2020 (Week 11) Monday 10 February 2020 (Week 13) (Study Review Week) 2.6 Review of Grade, Deferred Exams & Supplementary Exams/Assessments Review of Grade: There may be instances when you believe that your final grade in a subject does not accurately reflect your performance against the subject criteria