ACCT1511 Accounting and Financial Management 1B - 2019

ACCT1511
Undergraduate
Summer
6 Units of Credit
Online
Accounting
This course outline is for the current semester. To view outlines from other years and/or semesters, visit the archives

1. Course Details

Summary of Course

Accounting and Financial Management 1A and 1B are part of the integrated first-year accounting program design ed to give students an understanding of the ways in which financial information is generated within the corporation, and the uses of this information.

AFM1A is concerned with the analysis and design of a financial accounting system which reflects the activities of an entity in the economic and legal environment, and attempts to meet the information needs of parties in the present institutional and regulatory environment. The assumptions and choices made in the design of such an accounting information system are explored.

AFM1B builds on this introductory knowledge from AFM1A by showing ways in which accounting information systems can accommodate more complex events and provide additional reports. It further develops the preparation of the Balance Sheet, Income Statement and Cash Flow Statement. It also considers the analysis of financial statements by users, the use of accounting information by the management within the entity. AFM1B prepares you for further accounting courses and contains the appropriate preparation for you in an accounting major.

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

Course Aims and Relationship to Other Courses

​This course is offered by the School of Accounting and is a core course for students enrolled in the Bachelor of Commerce Major in Accounting (or Double-Major with Accounting and some other major). To enrol in this course, the following pre-requisite must have been satisfied – ACCT1501: Accounting and Financial Management 1A. This course is also a part of the core curriculum studies required by CPA A ustralia and the Chartered Accountants Australia & New Zealand (CAANZ).

2. Staff Contact Details

Position Title Name Email Location Phone Consultation Times
Lecturer-in-chargeDrVictoria CloutQUAD 3091-TBA
LecturerDrPer Christen TronnesQUAD 3095-TBA

The Lecturer-in-Charge is responsible for the overall direction and academic content of the course. Any questions or issues of an academic or administrative nature (i.e. anything other than the assessment results of the review and submission questions) should be directed to the Lecturer-in-Charge first. Questions that are of a content nature should be posted on the discussion board on Moodle.

The Lecturer-in-Charge should be contacted by email.

While emails to staff should be a rare occurrence as noted above, in instances where it is warranted please make sure that:

  • You use your UNSW email address when corresponding with AFM1B staff. Emails sent from other email addresses are not accepted nor replied to.

  • You must use appropriate communication level with staff, emails and discussion board posts that use short hand and “Texting” language are not acceptable, and communication must be in English . If your email cannot be understood by staff will not reply.

  • You must identify yourself by your full name, student number and tutorial day and time.

Please be aware that Staff will not necessarily reply to students to inform them if their emails are non-compliant.

Complaints about this the assessment and other aspects of this course should be directed to the Lecturer-in-Charge in the first instance and if unsatisfied with the response should then be directed to the School of Accounting Grievance Officer: https://www.business.unsw.edu.au/about/schools/accounting/contact

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

​Successful study of ACCT1511 requires discipline, persistence, diligence but, most of all, your engagement with the teaching and learning activities. At UNSW, the focus is on your self-directed search for knowledge. This course provides resources including online lectures, weekly materials on Moodle, animated videos and textbook readings are designed to help you learn. The aim is provide you with a flexible but directed learning approach. The two assignments during the semester will provide you with ongoing feedback on your performance in the course.

The online lecture will be live and you are highly encouraged to interact with the lecturer during this live online lecture. You are also able to engage with the teaching staff and other students using the Discussion Board on the course Moodle site. You are encouraged to engage with the materials on a weekly basis and undertake the online practice quizzes.

Learning Activities and Teaching Strategies

​Keeping up to date with the course materials is very important. In this course you will need to keep up with the weekly  material as each topic builds on that covered in the prior topics. The weekly materials will be used in the online lectures, it important to attempt these weekly materials to engage and ask questions during this online lecture. The course Moodle site contains pre-recorded videos of worked examples and topic concepts, these will also help you to master the weekly concepts. Each of the pre-recorded videos have a pdf template which you can download and work along with the video to understand the concepts.

The examinable content of the course is defined by the textbook chapters referred to in the course schedule below; the content of the lecture slides; the content of the tutorial program; and the content of the recorded Blackboard Collaborate sessions.

Offline learning

You are expected to read assigned chapters in the text and to review lecture slides (and recorded lectures, if desired) each week, as we move through each topic. To get the most out of your online learning time, you are advised to work through the relevant lecture material and textbook chapters assigned for a given week prior to joining a Blackboard Collaborate session that week. Links to all materials required for offline learning, with the exception of the text itself, will be provided through the Moodle site.

The purpose of your offline learning is to provide a logical structure for the topics that make up the course; to develop a basic grasp of the important concepts and methods of each topic; and to start engaging with relevant examples to which the concepts and methods are applied.

Online learning

Two-hour Blackboard Collaborate session will be held each week of the session, in which the computing and tutorial material for that week will be worked through interactively. These sessions are designed to help students deepen their conceptual understanding and to practice applying the material. Bb Collaborate sessions also provide students the opportunity to ask specific questions about the material covered in lecture slides and in the text. The sessions will be recorded for future revision by students and they are scheduled for the following Sydney local times:

Week Date of Online Lecture Time Topic

  1. Wednesday 5 December 3-5pm - Topic 1 – Assets

  2. Wednesday 12 December 3-5pm - Topic 2 – Liabilities

  3. Wednesday 2 January 3-5pm - Topic 3 – Financial Statements

  4. Wednesday 9 January 3-5pm - Topic 4 – Cash flows & cash flow analysis

  5. Wednesday 16 January 3-5pm - Topic 5 – Financial Statement analysis & Accounting policy choice

  6. Wednesday 23 January 3-5pm - Topic 6 – Management Accounting

Finally, you may find other resources provided on the Moodle site to be of use, including links to recorded lectures from previous offerings of ACCT1511 and the animated videos which are available via the links within each topic on the Moodle site.

General Strategy

An “ideal” weekly study strategy (on which the provision of course materials is based) might look like the following:

  1. Read the relevant chapter(s) of the text after going through the lecture slides (and the recorded lectures, if desired). Complete your reading and review by the middle of the week.

  2. Briefly review the tutorial questions (available via Moodle) on your own. This helps you to identify issues that need to be clarified or resolved. You might need to go back to the textbook or lecture slides for more clarification.

  3. On the Moodle site attempt the MCQs for that week’s topics - available within the topic and are for practice only.

  4. Join a Blackboard Collaborate session to cement your understanding and practice applying the material. Participate in other online activities via Moodle if desired.

  5. (if applicable) Complete and upload the assignment for that section.

5. Course Resources

​The website for this course is on Moodle at: http://moodle.telt.unsw.edu.au

The Prescribed Textbook is:

Trotman, K., Gibbins, M. and Carson, E. (2016) Financial Accounting: An Integrated Approach, 6th edition, Cengage Learning.

You should have a copy of the above textbook as it was used in AFM1A previously. There are many second-hand copies available and we use textbook questions as preparation and PASS questions. The textbook is also available as an e-book from Cengage.

Access to the Management Accounting Supplements for the 6th edition is via the instructions provided with the textbook MAC card (not the other card that is about general resources). The supplementary chapters can be purchased individually using the details provided on Moodle. The Supplement will not be made available by staff due to copyright restrictions.

Highly Recommended resources:

Trotman, Carson, and Gibbins (2016) Financial Accounting Student Study Guide, Cengage, (copies available in the UNSW Library).

Australian Accounting Standards available at the AASB’s website: http://www.aasb.gov.au/ Pronouncements/Current-standards.aspx (see lecture notes for relevant accounting standards) Course Website:

This course has a Moodle site. You are required to have a student number and zpass to access this website at: http://moodle.telt.unsw.edu.au In addition, you must be enrolled in the course to access the course Moodle site. The Moodle site will contain important announcements, weekly questions and solutions, animated videos for each topic and preparation questions, and in addition to other material deemed suitable by the Lecturer-in-charge from time to time. If you need help getting started or using Moodle then go to https://teaching.unsw.edu.au/elearning

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

 

ACCT1511 has been further refined over successive periods by the the teaching team. We seek with this course to offer insights into real world accounting issues based on the feedback of past students. The teaching team will continue to work hard in the future to enhance the course and this includes addressing constructive student feedback.

7. Course Schedule

Week Activity Topic Assessment/Other
Week 1: 3 December 2018Topic 1

1. Assets

1.1 Asset essential characteristics and recognition criteria

1.2 Depreciation of non-current assets

1.3 Non-current asset disposals

1.4 Measurement methods for assets

1.5 Revaluation model

1.6 Impairment

1.7 Intangible assets and goodwill

Textbook readings:

6.3; 10.1-10.5; 6.4; 10.6-10.8;

Weekly questions:

See Moodle site

 

Week 2: 10 December 2018Topic 2

2. Liabilities:

2.1 Liabilities essential characteristics and recognition criteria

2.2 Bonds

2.3 Provisions

2.4 Contingent liabilities

Textbook readings: 11.1-11.6; 11.8-11.9

Weekly questions:

See Moodle site

Week 3: 31 January 2019Topic 3

3. Financial Statements:

3.1 Share capital

3.2 Reserves

3.3 Retained profits and dividends

3.4 Bonus issues and share splits

3.5 Revenue recognition

3.6 Expense recognition

3.7 Income statement

3.8 Statement of changes in equity

3.9 What if analysis

Textbook readings: 12.3-12.8; 13.1-13.6

Weekly questions:

See Moodle site

Week 4: 7 January 2019Topic 4

4. Cash flow statement & Cash flow analysis

4.1 Cash flow components

4.2 Direct method estimation cash flow statement

4.3 Indirect method estimation cash flows in operating activities

4.4 Decision usefulness of cash flows

4.5 How to analyse cash flow information

4.6 Lifecycle of firms

4.7 Cash Flow ratios

4.8 Analysis of risk of bankruptcy

Textbook readings: 14.1-14.3; 14.4-14.6

Weekly questions:

See Moodle site

Week 5: 14 January 2019Topic 5

5. Financial Statement Analysis & Accounting Policy Choice

5.1 Financial Statements background

5.2 Comparative analysis

5.3 Business and competitive analysis

5.4 Accounting policy choices overview

5.5 Accounting policy choice effects leverage ratio

5.6 Accounting policy choice effects on intangibles

Textbook readings: 15.1-15.10; 16.1-16.7

Weekly questions:

See Moodle site

Week 6: 21 January 2019Topic 6

6. Management Accounting

6.1 Cost measurement and cost assignment

6.2 Job-order and process costing

6.3 Actual and normal costing

6.4 Normal costing – applied Overhead

6.5 Cost flow through the manufacturing cycle

6.6 Budgeting in a manufacturing organisation

6.7 Behavioural Dimension of Budgeting

Textbook readings:M3, M5. (These two chapters are included in the Management Accounting Supplement to the TCG textbook, where these chapters are accessible online as an e-book using your MAC card that came with the textbook, otherwise without the card you will need to purchase the e-chapters in addition to the TGC textbook.)

Weekly questions:

See Moodle site

8. Policies and Support

Information about UNSW Business School protocols, University policies, student responsibilities and education quality and support.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs.  Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

RELATED DOCUMENTS

 

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Centre.




Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.


Student Responsibilities and Conduct

Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance

Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.



Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Education Quality and support Unit (EQS)
The EQS offers academic writing, study skills and maths support specifically for Business students. Services include workshops, online resources, and individual consultations.
Level 1, Room 1033, Quadrangle Building.
bschoolconsults@unsw.edu.au
02 9385 7577 or 02 9385 4508

Business School Student Centre
The Business School Student Centre provides advice and direction on all aspects of admission, enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189

UNSW Learning Centre
The UNSW Learning Centre provides academic skills support services, including workshops and resources, for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
learningcentre@unsw.edu.au
02 9385 2060

Educational Support Service
Educational Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process. Check their website to request an appointment or to register in the Academic Success Program.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9385 2650

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
itservicecentre@unsw.edu.au
02 9385 1333

Disability Support Services
UNSW Disability Support Services provides assistance to students who are trying to manage the demands of university as well as a health condition, learning disability or who have personal circumstances that are having an impact on their studies. Disability Advisers can arrange to put in place services and educational adjustments to make things more manageable so that students are able to complete their course requirements. To receive educational adjustments for disability support, students must first register with Disability Services.
Ground Floor, John Goodsell Building.
disabilities@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418


Search Degrees

Find a degree or course



ACCT1511