Course Outline
ACC506 Accounting Fundamentals
Course Coordinator:Leanda Garvie (lgarvie@usc.edu.au) School:School of Business and Creative Industries
2020ATMC Semester 3
USC SydneyUSC Melbourne |
Blended learning | Most of your course is on campus but you may be able to do some components of this course online. |
Please go to unisc.edu.au for up to date information on the
teaching sessions and campuses where this course is usually offered.
What is this course about?
Description
This course provides the fundamental concepts and processes of financial accounting and an introduction to management accounting. Through the use of an Accounting Practice Simulation you will learn to apply the concepts and processes of financial accounting in the preparation and presentation of accounting information. This course covers the basic principles of accounting as well as theoretical aspects underpinning judgments in accounting choices
How will this course be delivered?
| Activity | Hours | Beginning Week | Frequency |
| Blended learning | |||
| Lecture | 1hr | Not applicable | Not Yet Determined |
| Tutorial/Workshop 1 | 1hr | Not applicable | Not Yet Determined |
| Laboratory 1 | 1hr | Not applicable | Not Yet Determined |
What level is this course?
500 Level (Advanced)
Engaging with new discipline knowledge and skills at an advanced level or deepening existing knowledge and skills within a discipline. Independent application of knowledge and skills in unfamiliar contexts.
What is the unit value of this course?
12 units
How does this course contribute to my learning?
| Course Learning Outcomes On successful completion of this course, you should be able to... | Graduate Qualities Completing these tasks successfully will contribute to you becoming... | |
| 1 | Use critical thinking to identify, analyse and solve problems in diverse areas of accounting. | Creative and critical thinker |
| 2 | Effectively communicate accounting related knowledge and information. | Engaged |
| 3 | Apply accounting knowledge and information in a business context for decision making. |
Knowledgeable Empowered |
Am I eligible to enrol in this course?
Refer to the UniSC Glossary of terms for definitions of “pre-requisites, co-requisites and anti-requisites”.
Pre-requisites
Enrolled in any PGRD Program
Co-requisites
Not applicable
Anti-requisites
Not applicable
Specific assumed prior knowledge and skills (where applicable)
Not applicable
Microcredential Information
Not applicable
How am I going to be assessed?
Grading Scale
Standard Grading (GRD)
| High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL). |
Details of early feedback on progress
Students will receive feedback on their progress in tutorials. Early feedback will be provided through Formative Quizzes available in Blackboard to support topics 1-3. In Week 8 computer lab, the assessment Task 2 will be reviewed and necessary feedback given to support the successful completion of the excel spreadsheet and report.
Assessment tasks
| Delivery mode | Task No. | Assessment Product | Individual or Group | Weighting % | What is the duration / length? | When should I submit? | Where should I submit it? |
| All | 1 | Quiz/zes | Individual | 15% | 30 minutes |
Week 5 | In Class |
| All | 2 | Case Study | Individual | 35% | 900 word report plus a Spreadsheet with multiple worksheets |
Week 10 | Online Assignment Submission with plagiarism check |
| All | 3 | Examination - Centrally Scheduled | Individual | 50% | 2 hours |
Exam Period | Exam Venue |
| All - Assessment Task 1:Multiple choice test | |||||||||||||
| Goal: | The aim is for you to use critical thinking to identify, analyse and solve problems; to show that you understand and can interpret commerce-related knowledge and information and apply such knowledge. |
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| Product: | Quiz/zes | ||||||||||||
| Authorship Statement: | |||||||||||||
| Format: | This is an individual assessment to be completed online through Blackboard during the computer lab class. |
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| Criteria: |
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| Generic Skills: | |||||||||||||
| All - Assessment Task 2:Accounting Practice Simulation Stage 2 and Questions | ||||||||||
| Goal: | The aim is to use computer software (Excel spreadsheet or designated accounting software) to identify, analyse and solve problems in a medium sized business and use accounting knowledge to address questions pertaining to the business. |
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| Product: | Case Study | |||||||||
| Authorship Statement: | ||||||||||
| Format: | Journal, Ledger, Trial Balance, Financial Statements and a Financial Report - An Accounting Practice Simulation that completes the accounting cycle for a medium sized business,using perpetual inventory with a number of products, a number of non-current assets that are depreciated resulting in the production of the financial statements. A financial report that analyses the position and performance of the business will also be generated. Accounting Practice Simulation - (25 percent) Additional questions for ACC506 - (10 percent) This is an individual assessment, the details are to be provided on Blackboard. The additional report questions will be advised |
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| Criteria: |
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| All - Assessment Task 3:Final Exam | |||||||
| Goal: | The aim is to test the accounting knowledge and theory covered in the course. |
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| Product: | Examination - Centrally Scheduled | ||||||
| Authorship Statement: | |||||||
| Format: | The final exam is a closed book, two-hour examination, comprising both theoretical and practical questions in an extended answer format. The material covered in the examination may be drawn from all lecture topics. It is an individual assessment. |
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| Criteria: |
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| Generic Skills: | |||||||
Directed study hours
A 12-unit course will have total of 150 learning hours which will include directed study hours (including online if required), self-directed learning and completion of assessable tasks. Student workload is calculated at 12.5 learning hours per one unit.
What resources do I need to undertake this course?
Please note: Course information, including specific information of recommended readings, learning activities, resources, weekly readings, etc. are available on the course Canvas site– Please log in as soon as possible.
Prescribed text(s) or course reader
You need regular access to the resource(s) below. Many texts are available as ebooks through the Library at no additional cost.
| Required? | Author | Year | Title | Edition | Publisher |
| Required | Noble, T., Mattison, B., Matsumura, E., Best, P., Fraser, R., Tan, R.& Willet, R. | 2016 | Horngren's Accounting | 8th Ed | Pearson Australia |
Specific requirements
Not applicable
How are risks managed in this course?
Health and safety risks for this course have been assessed as low. It is your responsibility to review course material, search online, discuss with lecturers and peers and understand the health and safety risks associated with your specific course of study and to familiarise yourself with the University’s general health and safety principles by reviewing the online induction training for students, and following the instructions of the University staff.