| Semester 1, 2020 On-campus Toowoomba | |
| Short Description: | Accounting and Society |
| Units : | 1 |
| Faculty or Section : | Faculty of Business, Education, Law and Arts |
| School or Department : | School of Commerce |
| Student contribution band : | Band 3 |
| ASCED code : | 080101 - Accounting |
| Grading basis : | Graded |
Staffing
Examiner:
Requisites
Pre-requisite: ACC2115
Other requisites
Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at .
Rationale
Many students ask 'why do we have to study theory?' This course answers this question for accounting to show how theories underpin not just about everything we do in our lives but also the practice of accounting. Theories are just that, someone鈥檚 view of phenomena. Therefore, theories must be looked at with a critical eye, not taken on blindly. They can help us make decisions providing benefits including explaining current practice, providing some principles for taking decision actions and identifying problems so that we can improve our professional practice. Students may then be able to move from what we do now (positive theory) to what we would like to do (normative theory) making a contribution to the accounting profession in the form of ideas and recommendations for a better world.
Synopsis
This course introduces students to the theory that underpins accounting practice. Using established accounting theories, the factors or incentives that exist for preparers of financial reports are investigated. These factors require consideration when making financial reporting decisions or evaluating the decisions of others. The primary objective of this course is to overlay theory concepts and a framework to accounting practice from a critical perspective so students see the relevance of theory to practice. This includes an investigation of the popular theories and evidence with regard to financial reporting. The financial reporting issues addressed include the choice of accounting methods, voluntary disclosures, environmental performance reporting and the regulation of financial reporting. As a capstone course for the accounting major, students are expected to bring together all their learned knowledge of accounting from prior courses and take a critical look at theory and practice of accounting.
Objectives
On completion of this course students will be able to:
- demonstrate problem solving, critical thinking and judgement skills to the level of threshold learning outcomes for accounting through assessment tasks;
- show the ability to undertake independent research and present those research findings in assessment tasks;
- outline, apply and evaluate accounting theories from an ethical perspective and used to explain and predict accounting practices to enhance decision making;
- critically evaluate the Australian accounting regulatory system including the conceptual framework and accounting standards with reference to the challenges in financial reporting;
- evaluate the influence of accounting information on human behaviour and decision processes using empirical evidence from capital markets research.
Topics
| Description | Weighting(%) | |
|---|---|---|
| 1. | Financial reporting and the accounting regulatory environment | 25.00 |
| 2. | Accounting theories and applications | 33.00 |
| 3. | Corporate governance, ethics and issues | 17.00 |
| 4. | Developments and challenges in accounting and financial reporting | 25.00 |
Text and materials required to be purchased or accessed
ALL textbooks and materials available to be purchased can be sourced from (unless otherwise stated). (https://omnia.usq.edu.au/textbooks/?year=2020&sem=01&subject1=ACC3116)
Please for alternative purchase options from USQ Bookshop. (https://omnia.usq.edu.au/info/contact/)
Reference materials
Student workload expectations
| Activity | Hours |
|---|---|
| Assessments | 33.00 |
| Lectures and Tutorials | 39.00 |
| Private 精东传媒app | 93.00 |
Assessment details
| Description | Marks out of | Wtg (%) | Due Date | Notes |
|---|---|---|---|---|
| ONLINE TEST | 30 | 15 | 23 Mar 2020 | (see note 1) |
| ASSIGNMENT - APPLIED THEORY | 50 | 25 | 11 May 2020 | |
| EXAMINATION | 105 | 60 | End S1 | (see Examination notes below) |
Notes
- Further details of assessments will be provided on the course 精东传媒appDesk during the semester.
| Description | Marks out of | Wtg (%) | Notes |
|---|---|---|---|
| EXAM PART A - MOODLE QUIZ | 15 | 15 | (see exam note 1) |
| TAKE HOME EXAMINATION | 90 | 45 | (see exam note 2) |
Exam Notes
- This will be a take home exam. Students will be provided further instruction regarding the exam by their examiner via 精东传媒appDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
- This will be a take home exam. Students will be provided further instruction regarding the exam by their examiner via 精东传媒appDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.
Important assessment information
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Attendance requirements:
It is the students' responsibility to attend and participate appropriately in all activities scheduled for them, and to study all material provided to them or required to be accessed by them, to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration. -
Requirements for students to complete each assessment item satisfactorily:
Due to COVID-19 the requirements for S1 2020 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.
Requirements after S1, 2020:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.) -
Penalties for late submission of required work:
Students should refer to the Assessment Procedure (point 4.2.4) -
Requirements for student to be awarded a passing grade in the course:
Due to COVID-19 the requirements for S1 2020 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Requirements after S1, 2020:
To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.
Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.
To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure (point 4.4.2). -
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course. -
Examination information:
Due to COVID-19 the requirements for S1 2020 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.
Requirements after S1, 2020:
This is a restricted examination. The only materials that candidates may use in the examination for this course are:- writing materials. These must be non-electronic and free from material, which could give the student an unfair advantage in the examination.
- an unmarked non-electronic translation dictionary (but not technical dictionary). A student whose first language is not English may take a translation dictionary into the examination room. A translation dictionary with any handwritten notes will not be permitted. Translation dictionaries will be subject to perusal and may be removed from the candidate's possession until appropriate disciplinary action is completed if found to contain material that could give the candidate an unfair advantage.
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Examination period when Deferred/Supplementary examinations will be held:
Due to COVID-19 the requirements for S1 2020 are: The details regarding deferred/supplementary examinations will be communicated at a later date.
Requirements after S1, 2020:
Any Deferred or Supplementary examinations for this course will be held during the next examination period. -
精东传媒app Student Policies:
Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions, which might contravene 精东传媒app policies and practices. These policies can be found at .
Assessment notes
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Referencing in assignments:
Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at .