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Unit of study_

ACCT1006: Accounting and Financial Management

Semester 1, 2020 [Normal day] - Camperdown/Darlington, Sydney

Accounting and Financial Management is an introduction to financial reporting, and the gateway unit to further study in accounting. This unit builds upon the accounting context, presented in BUSS1030 Accounting, Business and Society, and aims to develop the technical skills to record basic business transactions through accounting systems. In addition to this technical focus, specific attention is given to the way in which the accounting information can be used to undertake financial management and analysis, to give students the ability to produce and interpret financial reports.

Unit details and rules

Unit code ACCT1006
Academic unit Accounting
Credit points 6
Prohibitions
? 
ACCT1001 or ACCT1002 or ACCT1003 or ACCT1004
Prerequisites
? 
BUSS1030 or ACCT1005
Corequisites
? 
None
Assumed knowledge
? 

HSC Mathematics

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Janine Coupe, janine.coupe@sydney.edu.au
Type Description Weight Due Length
Final exam hurdle task Final exam
Written exam
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4
In-semester test Mid-semester exam
Written exam
20% Mid-semester exam period 1.5 hours
Outcomes assessed: LO1 LO4 LO3 LO2
Small continuous assessment Tutorial work and/or assignment
Written task
30% Ongoing n/a
Outcomes assessed: LO1 LO2 LO3 LO4
hurdle task = hurdle task ?

Assessment summary

  • Tutorial work and/or assignment: Students are assigned questions to prepare each week, the questions and assessment details are provided on Canvas. Students are required to complete an online practice set. The practice set has been designed to provide students with experience in the practical and technical skills essential to accounting, through the completion of a one month accounting cycle for a fictional business. The practice set will provide each student with a unique accounting scenario and therefore must be completed on an individual basis.
  • Mid-semester exam: This is a closed book exam. 
  • Final exam: This is a closed book exam. The final exam is listed as a HURDLE TASK which means you must complete the assessment in order to pass the unit. Students who fail to complete this assessment, even when their aggregate mark for the entire unit of study is above 50%, will be given a Fail grade for this unit. As a result, a student's academic transcript will show a Fail grade and the actual mark achieved if the final mark of the unit is between 0-49 and a Fail grade and a capped moderated mark of 49 for all other final marks.

Replacement exams: The Business School has determined that second replacement exams (both mid-semester and final) will not be offered for this unit of study should a student submit two special considerations for the same exam as this unit forms part of the professional accounting accreditation pathway. Should a student be granted a replacement exam via special consideration, and is then unable to attend or does not complete the replacement exam, any subsequent special consideration will result in a DC grade (Discontinue Without Fail).

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Distinction

75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Credit

65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Pass

50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website  provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.  

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Introduction to GAAP and revision of the accounting information system Lecture (1.5 hr)  
Week 02 Accrual accounting concepts Lecture and tutorial (3 hr)  
Week 03 Recording, analysing, managing and reporting merchandising operations 1 Lecture and tutorial (3 hr)  
Week 04 Recording, analysing, managing and reporting merchandising operations 2 Lecture and tutorial (3 hr)  
Week 05 Accounting subsystems Lecture and tutorial (3 hr)  
Week 06 Recording, analysing, managing and reporting receivables Lecture and tutorial (3 hr)  
Week 07 Revision Lecture and tutorial (3 hr)  
Week 08 Recording, analysing, managing and reporting non-current assets Lecture and tutorial (3 hr)  
Week 09 Recording, analysing, managing and reporting liabilities Lecture and tutorial (3 hr)  
Week 10 Recording, analysing, managing and reporting equity Lecture and tutorial (3 hr)  
Week 11 Analysing, managing and reporting cash flows part 1 (direct method) Lecture and tutorial (3 hr)  
Week 12 Analysing, managing and reporting cash flows part 2 (indirect method) Lecture and tutorial (3 hr)  
Week 13 Revision Lecture and tutorial (3 hr)  

Attendance and class requirements

Lecture recordings: Pre-recorded lectures will be available for students.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

Details of the prescribed textbook can be found on Canvas.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. record the impact of basic business transactions and be able to produce financial statements across a variety of types of business organisations
  • LO2. analyse and interpret commercial, economic, and business information to develop solutions and responses to business problems and challenges
  • LO3. communicate, both orally and in writing, including the ability to negotiate and persuade in a business context
  • LO4. apply discipline-specific expertise, including ethical decision-making in a broad business context.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.