Accacf 1100 Topic Schedule and Assessment Summary PDF

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ACC/ACF1100 – Introduction to Financial Accounting SEMESTER 2, 2021 Unit Schedule Lecture Topic Week

Assessment

1

Introduction to accounting and the Conceptual Framework, introduction to business types and accounting standards.

2

The recording process (Part 1): Double-entry accounting, general journal, and ledgers.

3

The recording process (Part 2): Trial balance and 10-column worksheet. Balance day adjustments (Part 1).

4

Balance day adjustments (Part 2).

Assessment 1 – Diagnostic test (3%) Monday 16 August 2021

5

Completing the accounting cycle: Closing the accounts and producing financial statements (income statement, statement of changes in equity, balance sheet).

6

Inventory (Part 1): Recording using both the periodic and perpetual methods.

7

Inventory (Part 2): AASB102 – cost of inventory, cost-flow assumptions, lower of cost and net realisable value rule, inventory write-downs.

8

Special journals and control accounts as a leadin to cash management (bank reconciliation).

9

Non-current assets: revaluation (increments or decrements), impairment (straightforward impairment), sale of a non-current asset.

Assessment 2 – Midsemester test (12%) Monday 6 September 2021 6pm

Assessment 3 – Manual assignment (10%) Assessment 4 – XERO assignment (10%) Tuesday 21 September 2021 4pm

10

Liabilities liabilities).

(leases,

provisions,

contingent

1

Classroom Activity

11

Equity, Income and Expenses. (income: revenue recognition standard and expenses: research and development).

Assessment 5 – Group presentation (15%) Tuesday 12 October 2021 4pm

12

Critical analysis of the Conceptual Framework versus Accounting Standards and revision.

Assessment summary Assessment task

Value

Due date

Learning Outcomes Assessed

Assessment 1 – Diagnostic test

3%

Monday 16 August 2021

1-4

Assessment 2 – Mid-semester test

12%

Monday 6 September 2021 6pm

1-4

Assessment 3 – Manual assignment

10%

Tuesday 21 September 2021 4pm

1-4

Assessment 4 – XERO assignment

10%

Tuesday 21 September 2021 4pm

1-4

Assessment 5 – Group presentation

15%

Tuesday 12 October 2021 4pm

3, 5

Final exam

50%

To be advised

1-4

Submission details: Turnitin can help you discern when you are using sources fairly, citing properly, and paraphrasing effectively in accordance with University policy. These are skills essential to all academic work. https://guides.lib.monash.edu/turnitin/using-turnitin Penalties for late lodgement: Penalties for late lodgement: The University has a standard penalty for late submission. See the Marking and Feedback Procedure for more information.

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Unit delivery information Recording of lectures This unit has pre-recorded video material, readings, and workshop activities.

Live streaming If you are allocated to a lecture activity as a livestream unit you do not need to come to campus. A link to the livestreams will be available in your Moodle unit. For information on how to participate in your lectures via live streaming you can review this guide created by the library: https://guides.lib.monash.edu/learning-tools/video If you have any technical issues please contact the service desk: https://www.monash.edu/esolutions/contact If you need more information on timetabling you can visit their site: https://www.monash.edu/timetables/fix- problems

Attendance For units with on-campus classes, teaching activities are normally scheduled to start on the hour (teaching will commence on the hour and conclude 10 minutes prior to the scheduled end time). Students should note that the Unit Schedule is a guide to the material to be covered in this unit and not a definitive statement of when that material will be covered. Specific details relating to the timing will be discussed in class. For units with on-campus classes, teaching activities are normally scheduled to start on the hour (teaching will commence on the hour and conclude 10 minutes prior to the scheduled end time). You should ensure you arrive to class on time.

Assessment Administration Information This section describes the assessment procedures and rules This unit may employ invigilated electronic assessment.

Marks A student’s final mark is normally the sum of the marks obtained in all of the individual assessment items in the unit.

Second marking All of the major assessment tasks and examinations graded as a fail by the first marker are marked by a second marker. See here for the Procedure

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Return of final marks The final mark that a student receives for a unit will be determined by the Board of Examiners taking into account all aspects of assessment. The final mark for this unit will be released by the Board of Examiners on the date nominated in the Faculty Calendar. Student results will be accessible through the my.monash portal.

Exam viewing Feedback on student performance in examinations and other end-of-semester assessment is required. The feedback should be in accordance with the University's procedures on Unit Assessment. Details of the examination script viewing arrangements set down by the Faculty of Business and Economics are available at https://www.monash.edu/business/current-students/exams-and-results/exam-performanceand-feedback

Assessment criteria Assessment Criteria Grading Descriptors available at: https://www.monash.edu/ data/assets/pdf_file/0009/801792/Grading-Scale-Policy.pdf

Hurdle requirement See Handbook

Extension and penalties Extensions are only provided under special circumstances. All applications for special consideration must be made in accordance with University guidelines. It is the student's responsibility to familiarise themselves with the University's Special Consideration policy regarding extensions for assessment tasks.

Resubmission of assignments Re-submission for assessments is not permitted for this unit.

Referencing requirements To build your skills in citing and referencing, and using different referencing styles, see the online resources Academic Integrity: Demystifying Citing and Referencing at https://www.monash.edu/rlo/research-writing- assignments/referencing-and-academic-integrity/citingand-referencing In this unit you are required to use the APA referencing style for written reports. You can get more information about using the APA reference style from the Monash Library resource.

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Feedback Our feedback to you Types of feedback you can expect to receive in this unit are: • • • •

Formal individual feedback on assignments expressed as a letter grade Answers to questions relating to the discipline or the unit’s work Advice about seeking additional help to develop your writing or research skills Informal feedback relating to class activities

Your feedback to us One of the formal ways students have to provide feedback on teaching and their learning experience is through the Student Evaluation of Teaching and Units (SETU) survey. The feedback is anonymous and provides the Faculty with evidence of aspects that students are satisfied with and areas for improvement.

Resources and Technologies Learning resources Monash Library Unit Reading List (if applicable to the unit): http://monash.rl.talis.com/index.html Research and Learning Online: www.monash.edu/rlo

Monash University Library The Monash University Library provides a range of services, resources and programs that enable you to save time and be more effective in your learning and research. Go to https://www.monash.edu/library or the library tab in my.monash portal for more information.

Prescribed text and readings Weekly readings may be made available for students via the Moodle site. These readings are mandatory for class participation and assessment preparation.

Policies and other information Policies Monash has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University's academic standards, and to provide advice on how they might uphold them. You can find Monash's Student Policies and Student Charter at: https://www.monash.edu/students/admin/policies

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