ACCY201 Subject Outline 2021 Spring Session PDF

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ACCY201 Subject Outline 2021 Spring Session
ACCY201 Subject Outline 2021 Spring Session
ACCY201 Subject Outline 2021 Spring Session...

Description

School of Business

ACCY201: Financial Accounting IIB Subject Outline 6 credit points

Subject Information Spring, 2021 Wollongong, On Campus Batemans Bay, On Campus Bega, On Campus Shoalhaven, On Campus South Western Sydney, On Campus Southern Highlands, On Campus Southern Sydney, On Campus This subject has both On Campus and Online Remote Study options as detailed in the Lecture & Tutorial Sections of this outline. Please note that all subjects, where necessary, can be undertaken online, to accommodate changing circumstances and individual requirements for academic consideration. Information about remote study options in this subject can be found on your subject Moodle site. Lecture Information: For current timetable information please refer to the online Subject Timetables on the Current Students webpage. Pre-requisites: ACCY200 Co-requisites: Nil Restrictions: No restrictions/exclusions for this subject Contact Hours: Please refer to subject timetable/subject's Moodle site for contact hours detail Online Subject Material: http://www.uow.edu.au/student/index.html Please check the ACCY201 Moodle site regularly, particularly the 'Announcements from Erin' and 'Student communication forum' activities.

Faculty Vision, Mission and PRME The Mission of the Faculty is to promote responsible leadership and sustainable business practice, and contribute to a stronger economy and a more just society. The Faculty Vision, Mission and Values statements can be found at https://business.uow.edu.au/vision-mission/index.html The Faculty is also a signatory to the Principles of Responsible Management Education (PRME) and supports the realisation of the United Nations Sustainable Development Goals. More information on PRME can be found at https://business.uow.edu.au/about/index.html

ACCY201 Subject Outline

Spring, 2021

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ACCY201 Subject Outline

Spring, 2021

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Teaching Staff Teaching Role

Coordinator, Lecturer and Tutor

Name

Dr Erin Twyford

Telephone

02 4221 3285

Email

[email protected] 40.304

Consultation Times

Thursday 09:30 - 10:30 ((Other times to be arranged by appointment)) Thursday 11:30 - 13:30 ((Other times to be arranged by appointment))

Teaching Staff Additional Information Consultations will take place online using Zoom, or in person at my office. Please book a consultation time using the 'Book a Consultation' activity on Moodle. Please allow a 15 minute gap between the time you place the booking and the booking time.

ACCY201 Subject Outline

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Expectations of Students UOW values are intellectual openness, excellence and dedication, empowerment and academic freedom, mutual respect and diversity, recognition and performance. We will provide a safe, equitable and orderly environment for the University community, and expect each member of our community to behave responsibly and ethically (UOW Student Conduct Rules https://documents.uow.edu.au/about/policy/learning/index.html ). We expect that students demonstrate these values and professional behaviour, both face to face and online, making genuine efforts to complete their studies successfully, arriving on time to class, taking part constructively in class discussions and activities, demonstrating appropriate professional and ethical conduct in all communication with UOW staff and community members, and submitting assignments on time (or completing a request for Academic Consideration in advance if needed).

Email Etiquette: Consultation with your subject coordinator and/or teachers via email Your teachers receive many emails each day. In order to enable them to respond to your emails appropriately and in a timely fashion, students are asked to observe basic requirements of professional communication: Consider what the communication is about   

Is your question addressed elsewhere (e.g. in this subject outline or, where applicable, on the subject's eLearning site)? Is it something that is better discussed in person or by telephone? This may be the case if your query requires a lengthy response or a dialogue in order to address. If so, see consultation times above and/or schedule an appointment. Are you addressing your request to the most appropriate person?

Specific email title/ header to enable easy identification of subject related/ student emails 

Identify the subject code of the subject you are enquiring about (as your teacher may be involved in more than one subject) in the email header. Add a brief, specific header after the subject code where appropriate.

Professional courtesy     

Address your teacher appropriately by name (and formal title if you do not yet know them). Use full words (avoid 'text-speak' abbreviations), correct grammar and correct spelling. Be respectful and courteous. Academics will normally respond within 1-2 business days. If the matter is urgent, you may wish to telephone the teaching staff whose contact details are given in this subject outline or contact the School. Please ensure that you include your full name and identify your seminar or tutorial group in your email so that your teachers know who they are communicating with and can follow-up personally where appropriate.

Cyber Bullying The University is committed to providing a safe, respectful, equitable and orderly environment for the University community, and expects each member of that community to behave responsibly and ethically. Students must comply with the University's Student Conduct Rules and related policies including the IT Acceptable Use Policy and Bullying Prevention Policy, whether undertaking their studies face-to-face, online or remotely. For more information on appropriate communication and etiquette in the online environment please refer to the guide Online and Email Etiquette or at https://www.uow.edu.au/student/learning-co-op/technology-andsoftware/email-etiquette/.

ACCY201 Subject Outline

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Copyright Commonwealth of Australia Copyright Regulations 1969 © 2021 University of Wollongong The original material prepared for this guide is covered by copyright. Apart from fair dealing for the purposes of private study, research, criticism or review, as permitted under the Copyright Act, no part may be reproduced by any process without written permission.

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Table of Contents Section A: General Information............................................................................................................................6 Learning Outcomes.............................................................................................................................................6 Student Learning Outcomes...........................................................................................................................6 Subject Description.........................................................................................................................................6 Course Learning Outcomes............................................................................................................................6 eLearning, Readings, References and Materials.................................................................................................6 Subject eLearning...........................................................................................................................................6 Major Text(s)..................................................................................................................................................7 Key References...............................................................................................................................................7 Recommended Background and Further Reading..........................................................................................7 Lectures, Tutorials and Attendance Requirements..............................................................................................8 Lecture Times *..............................................................................................................................................8 Lecture Program *..........................................................................................................................................8 Lecture Recording...............................................................................................................................................9 Your Privacy - Lecture Recording.......................................................................................................................9 Additional Lecture Comments........................................................................................................................9 Tutorial/Seminar/Workshop Times.................................................................................................................9 Tutorial/Seminar/Workshop Program...........................................................................................................10 Additional Tutorial/Seminar/Workshop Comments.....................................................................................11 Attendance Requirements - Participation/Contribution to Lectures/Tutorials/Seminars/Workshops...............11 Recent Improvements to Subject.......................................................................................................................11 Extraordinary Changes to the Subject Outline..................................................................................................12 Learning Analytics.............................................................................................................................................12 Section B: Assessment..........................................................................................................................................13 Assessment Summary........................................................................................................................................13 Additional Assessment Information..................................................................................................................18 UOW Grade Descriptors..............................................................................................................................18 Assessment Learning Outcome Matrix.............................................................................................................18 Minimum Performance Requirements..............................................................................................................18 Types of Assessment and Collaboration............................................................................................................19 Submission, Retention and Collection of Written Assessment.........................................................................19 Submitting Assessment Tasks.......................................................................................................................19 Extensions.....................................................................................................................................................20 Faxing, Posting and Emailing Assessment Work.........................................................................................20 Late Submission of Assessment Tasks.........................................................................................................20 Collection......................................................................................................................................................20 Retention.......................................................................................................................................................20 Scaling...............................................................................................................................................................20 Supplementary Assessment...............................................................................................................................20 Review and Appeal of Academic Decisions......................................................................................................21 Assessment Quality Cycle.................................................................................................................................21 Assurance of Learning (What will students learn in their degree?)..................................................................21 Academic Integrity............................................................................................................................................21 Plagiarism Prevention...................................................................................................................................21 Referencing........................................................................................................................................................22 Why do you need to reference?....................................................................................................................22 The Harvard System of Referencing............................................................................................................22 Section C: General Advice for Students - Policies and Procedures.................................................................23

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Section A: General Information Learning Outcomes Student Learning Outcomes On successful completion of this subject, students will be able to: 1. 2. 3. 4.

Identify key aspects of Australian corporations\' law and accounting standards relevant for corporate financial accounting and reporting Apply relevant legislation and accounting standards to corporate accounting practice and financial reporting Appraise the situational issues and circumstances in the selection of accounting policies and accounting methods in corporate accounting practice Explore the ethical and corporate governance issues related to corporate accounting practice

Subject Description ACCY201 builds on the knowledge and skills students have acquired in ACCY200. As with ACCY200, the subject contains distinct but inter-related strands. First, there is a technical strand incorporating the application of specific accounting standards and regulatory provisions to the preparation of financial reports. Second, there is a contextual strand, highlighting the institutional and social contexts of accounting and financial reporting. Course Learning Outcomes Course Learning Outcomes can be found in the Course Handbook https://www.uow.edu.au/handbook/index.html.

eLearning, Readings, References and Materials Subject eLearning The University uses the eLearning system Moodle to support all coursework subjects. The subject Moodle site can be accessed via: https://moodle.uowplatform.edu.au/course/view.php?id=23365 IN ADDITION TO THE UOW ONLINE WOLLONGONG DISTANCE MOODLE SITE YOU WILL ALSO HAVE ACCESS TO THE REMOTE STUDY SUPPORT SITE. Remote Study Support Moodle site (TCHR054_20) is accessible to support your studies from remote locations around the globe until you can return to on campus study. This site will appear as an additional site on your list of active Moodle subject sites. This site contains comprehensive information with a range of resources related to teaching and learning as well as other student support information.

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Major Text(s) Loftus, J., Leo, K., Daniluc, S., Boys, N., Luke, B., Ang, H., and Byrnes, K., 2020, Financial Reporting, Third Edition, Wiley (referred to as Loftus et al (2020) throughout the subject outline). The publisher is not printing hard copies of this text unless requested - it can be purchased and downloaded as an e-text for $65. Textbook details are available online from the University Bookshop at https://unishop.uow.edu.au/ Key References AASB Framework for the Preparation and Presentation of Financial Statements (Conceptual Framework) AASBs (relevant to topics covered) - The CF and standards can be downloaded for free, in Word or PDF format, from the AASB website: http://www.aasb.gov.au/Pronouncements.aspx AASB and AUASB, 2018 “AASB Climate-related and other emerging risks disclosures: assessing financial statement materiality using AASB Practice Statement 2”, available online at: https://www.aasb.gov.au/admin/file/content102/c3/AASB_AUASB_Joint_Bulletin_13122018_final.pdf Abbott, M. and Tan- Kantor, A. 2018 "Fair value measurement and mandated accounting changes: The case of the Victorian Rail Track Corporation", Australian Accounting Review, Vol. 28, Issue 2, pp 266-278. This article may be accessed through UOW Library Journal Search. Accounting Professional Ethics and Standards Board (APESB), 2010, APES 110 Code of Ethics for Professional Accountants, available online at: http://www.apesb.org.au/uploads/standards/apesb_standards/standard1.pdf ASX Corporate Governance Council, 2019, Corporate Governance Principles and Recommendations, 4th Edition, available online at: https://www.asx.com.au/documents/asx-compliance/cgc-principles-andrecommendations-fourth-edn.pdf Dumay, J. and Hossain, MD Amir, 2019, "Sustainability risk disclosure practices of listed companies in Australia, Australian Accounting Review, 29(2), 343-359. This article is accessible through UOW library journal search. Leo, K., Knapp, J., McGowan, S. and Sweeting, J. 2015. "Company Accounting", 10th Edition, John Wiley and Sons Australia Ltd, Milton, Queensland (Chapter 4 only, Fundamental Concepts of Corporate Governance). This text may be accessed via ACCY201 readings on the UOW library website - electronic resources. Recommended Background and Further Reading I encourage students to read widely if possible, taking note of current events, what is trending on Twitter, what is being covered on Hack (Triple J) etc. A good knowledge of the broader environment in which we are working and learning is vital as a professional. This is not an exhaustive list of references. Students should also use the library catalogue and databases to locate additional resources.

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Lectures, Tutorials and Attendance Requirements Lecture Times * For current timetable information please refer to the online Subject Timetables on the Current Students webpage. Lecture Program * Week Date

Topics Covered

Readings

1

27 Jul 2021

Introduction to ACCY201 Corporate governance

ASX Corporate Governance Principles and Recommendations (2019) Leo et al (2015) Chapter 4 - available on Moodle Dumay and Hossain (2019) - available on Moodle

2

03 Aug 2021

Financial statement preparation Loftus et al (2020) Chapters 16 and 18 and presentation Part I

3

10 Aug 2021

Financial statement preparation Loftus et al (2020) Chapters 16 and 18 and presentation Part II

4

17 Aug 2021

Financing of company operations -accounting for Loftus et al (2020) Chapter 13 share issues and other financing options

5

24 Aug 2021

Fair value measurement

Loftus et al (2020) Chapter 3

6

31 Aug 2021

Mid-session exam There is no lecture this week.

The exam will cover topics addressed in lectures week 1-4. This exam is for study purposes and is not a designated assessment tas...