Outline

Overview

This unit examines the accounting and reporting practices of reporting entities, particularly listed public companies. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, the various regulatory requirements (professional and statutory) governing financial reporting. The unit commences with an overview of the financial reporting environment and theories that seek to explain the accounting policy choices of management. This framework provides a basis for examining a range of specific issues in financial accounting. The emphasis throughout the unit is on both the application of specific accounting techniques/rules and the conceptual/theoretical issues associated with alternative accounting methods.

Unit details and rules

Unit code	ACCT2011
Academic unit	Accounting
Credit points	6
Prohibitions ?	None
Prerequisites ?	(ACCT1001 or ACCT1005 or BUSS1030) and (ACCT1002 or ACCT1006)
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Eagle Zhang, eagle.zhang@sydney.edu.au

Type	Description	Weight	Due	Length
Small continuous assessment	Online Quizzes Online quiz tasks	5%	-	n/a
Outcomes assessed:
Final exam (Record+)	Final exam Written exam	50%	Formal exam period	2 hours
Outcomes assessed:
Small continuous assessment	Tutorial work Tutorial work	5%	Ongoing	n/a
Outcomes assessed:
In-semester test (Record+)	Mid-semester exam Written exam	20%	Week 07 Due date: 20 Sep 2021 at 13:00	50 minutes
Outcomes assessed:
Assignment	Group assignment Written task	20%	Week 10 Due date: 18 Oct 2021 at 17:00 Closing date: 28 Oct 2021	1,500 words
Outcomes assessed:
= hurdle task ? = group assignment ? = Type B final exam ? = Type B in-semester exam ?

Assessment summary

Online quizzes: Students are advised to refer to Canvas for further information.
Tutorial work: Students are advised to refer to Canvas for further information.
Group assignment: Students are advised to refer to Canvas for further information.
Mid-semester exam: The mid-semester exam is a closed book examination and will cover material from weeks 1 to 5 inclusive. Students are advised to refer to Canvas for further information.
Final exam: The final exam is a closed book examination and will cover the material from weeks 1-13 inclusive, with emphasis on the material from weeks 6-13. An assessment that is listed as HURDLE TASK means you must undertake the assessment and achieve a mark above a minimum standard. Students who fail to achieve this minimum standard in this assessment, even when their aggregate mark for the entire unit is above 50%, will be given a Fail grade for the unit. As a result the student's academic transcript will show a fail grade and the actual mark achieved if between 0-49 and a fail grade and a capped moderated mark of 49 for all other marks. The hurdle mark for this assessment is 45%.

Each assessment has different parts that cover several aspects of the unit and several ULOs.

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.

Learning support

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.

Weekly schedule

WK	Topic	Learning activity
Week 01	Introduction and conceptual framework for financial reporting	Lecture and tutorial (3 hr)
Week 02	Measurement and choice of accounting methods	Lecture and tutorial (3 hr)
Week 03	Accounting for assets - property, plant, and equipment	Lecture and tutorial (3 hr)
Week 04	Accounting for assets - intangible assets	Lecture and tutorial (3 hr)
Week 05	Accounting for leases	Lecture and tutorial (3 hr)
Week 06	Provisions; ethics	Lecture and tutorial (3 hr)
Week 07	Revenue	Lecture and tutorial (3 hr)
Week 08	Accounting for income tax	Lecture and tutorial (3 hr)
Week 09	Accounting for financial instruments	Lecture and tutorial (3 hr)
Week 10	Equity	Lecture and tutorial (3 hr)
Week 11	Accounting for the extractive industries	Lecture and tutorial (3 hr)
Week 12	Presentation of financial statements	Lecture and tutorial (3 hr)
Week 13	Review	Lecture (3 hr)

Attendance and class requirements

Lecture recordings: All lectures are recorded and will be available on Canvas for student use.

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

Henderson, S., Pierson, G., Herbohn, K., Artiach, T., and Howieson, B. (2017). Issues in Financial Accounting (16th ed.). Melbourne, Australia: Pearson

Learning outcomes

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.

Outcomes
Graduate qualities

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

LO1. describe and understand the conceptual framework and specific standards for preparing financial statements within a regulatory and commercial context
LO2. interpret and apply specific accounting standards to transactions based on varying problems and facts, which require critical thinking and judgement
LO3. critically discuss issues in the interpretation and application of accounting standards, as these affect the information content and decision-relevance of financial statements
LO4. critique Australian accounting standards in order to evaluate financial reporting issues for a reporting entity; develop solid and defensible arguments that reflect your opinion
LO5. work collaboratively with others to analyse the requirements of an Australian accounting standard and understand how these accounting requirements can be applied to an entity's operations
LO6. recognise the requirements of different users of financial statements and appreciate the social and ethical dimensions of the choices made by financial statement preparers.

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
Learning outcomes

Responding to student feedback

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

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

Additional information

More information can be found on Canvas.

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.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

ACCT2011: Financial Accounting A

Semester 2, 2021 [Normal day] - Remote

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Attendance and class requirements

Study commitment

Required readings

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect