BUSINESS SCHOOL

Unit of Study Outline

Unit Code ACCT1006
Unit Title Accounting and Financial Management
Semester 2, 2014
Pre-requisite Units: ACCT1005 or BUSS1030
Co-requisite Units:
Prohibited Units: ACCT1001, ACCT1002, ACCT1003, ACCT1004
Assumed Knowledge and/or Skills: You are assumed to have a broad understanding of: the role of accounting
in business and society including the economic, financial and social repercussions of accounting; the users and
uses of financial information from an accountability focus and a decision making focus; organisational forms
including sole traders, partnerships and corporations; and financial reports: income statement, statement of
financial position and statement of cash flows.
Unit Coordinator: Rosina Mladenovic
Address: Room 340, The Business School Building(H69), Darlington NSW 2008
Email: rosina.mladenovic@sydney.edu.au Phone: 93516991
Consultation Hours: Please go to Blackboard for details of all staff consultation times
Class Day(s): Please go to Blackboard for class times and locations
Required Text / Resources:
Carlon, S., Mladenovic-McAlpine, R., Palm, C., Kimmel, P., Kieso, D. and Weygandt, J. 2012, Accounting:
Building Business Skills, 4th Australian ed., John Wiley & Sons, Brisbane.
This unit of study outline MUST be read in conjunction with
The Business School Unit of Study Common Policy and implementation information that applies to every unit of study offered by the
Business School (http://sydney.edu.au/business/currentstudents/policy). All assessment rules, such as standards used, penalties etc, are
covered.
The Business School Student Administration Manual - for information about all processes such as illness, appeals etc (
http://sydney.edu.au/business/currentstudents/student_information/student_administration_manual) When deciding applications and
appeals relating to these matters it will be assumed that every student has taken the time to familiarise themselves with these key policies
and procedures.
The Business School seeks feedback from students and staff in order to continually improve all units offered. For information on previously
collected feedback and innovations made in response to this feedback, please see
http://sydney.edu.au/business/learning/planning_and_quality/feedback/student

1. Unit of Study Information

Accounting and Financial Management is an introduction to financial reporting, and the gateway unit to further
study in accounting leading to a major in accounting. This unit builds upon the accounting context, presented in
BUSS1030 Accounting, Business and Society, with the aim of developing the technical skills of recording basic
business transactions through accounting systems. In addition to this technical focus, specific attention will be
given to the way in which the accounting information can be used to undertake financial management and analysis,
to give students the ability to produce and interpret financial reports.

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2. Program Learning Outcomes and Unit Learning Outcomes

The Program Learning Outcomes for this Program are located at
http://sydney.edu.au/business/learning/staff/leadership/program_directors/outcomes
Unit Learning Outcomes
Unit Learning Outcomes
On the successful completion of the Unit you should be able to:
Record the impact of basic business transactions and be able to produce
financials statements across a variety of types of business organisation.
Analyse and interpret commercial, economic and business information to
develop solutions and responses to business problems and challenges.
Communicate, both orally and in writing, including the ability to negotiate
and persuade in a business context.
Apply discipline-specific expertise, including ethical decision-making in a
broad business context.

Program Learning Outcomes

1. Accounting Knowledge
3. Business Analysis and
Problem-Solving
4. Communication
6. Ethical and Social
Responsibility

3. Assessment

Assessment Name

Tutorial Written Work

(combination of
completion online and
Individual
collected at random in
tutorials during semester)
Mid-semester
Individual
Examination
Practice Set
Individual
Final Examination
Academic Honesty

Program
Learning
Outcomes
Assessed

Length Weight Due Date

Closing Date

Optional

1, 3, 4, 6

1000

10%

Weekly

Weekly

Compulsory

1, 4

1000

20%

12-Sep-2014

12-Sep-2014

Compulsory

1500

15%

Mandatory

1, 3, 4, 6

2000

55%

27-Oct-2014
Final Exam
Period
Week 4

03-Nov-2014
Final Exam
Period

Individual/ Assessment
Group
Conditions

Individual

For the meaning and operation of this table, see policy information in the box on the front page or click here

Assessment details
Tutorial Written Work (combination of completion online and collected at random in tutorials during
semester)

Task Description
Tutorials commence in week 2 of the semester and students are recommended to attend 75% or greater of
their allocated tutorial, as statistically this improves the quality of the course result at semester end.Tutorial
Written Work (TWW) is based on the questions allocated in the weekly tutorial program (available on
blackboard). Students are expected to bring their completed TWW to tutorials each week.
TWW will be assessed with a combination of: online submissions and random collection in tutorials at the
beginning of the tutorial. There are four online submissions, each is worth a maximum of 1.5 marks (maximum
total of 6 marks). Each random manual collection is worth a maximum of 1 mark, the best four out of five
manual submissions (maximum of 4 marks) will be summed and added to the online submission mark for the
total TWW mark of 10%.
Note: Students are not permitted to email tutorial work to Tutors under any circumstances and are advised
that any such submissions will not be marked or returned to the students. Only tutorial work collected by the
tutor in person, from students attending their assigned tutorial, shall be marked.

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The TWW mark is 10% of the overall assessment mark for this unit.
The weekly tutorial program for the TWW is provided on Blackboard.

Assessment Criteria
The following assessment criteria will be applied, as relevant for each weeks TWW based on the questions
allocated in the weekly tutorial program (available on blackboard). Marks will be awarded for the
completeness, accuracy and the effort demonstrated in submitted TWW in relation to:
1. recording the impact of basic business transactions across a variety of types of business organisation;
2. analysing the impact of basic business transactions within accounting systems;
3. the production of financial statements;
4. evaluating and analysing accounting information to inform business issues and understanding the impact of
financial decisions on the financial statements;
5. understanding the role of accountants and accounting for decision making including ethical decision making
in contemporary business contexts;
6. communicating confidently and coherently, both orally and in writing, to a professional standard.
Feedback - What, when and how feedback will be provided for this assessment
An opportunity to ask questions and clarify understanding will be provided in weekly tutorials. Suggested
solutions will be provided on Blackboard on Thursday evenings.

Mid-semester Examination

Task Description
The mid-semester examination is a closed book examination and will be held on Friday 12th September
2014 at 6pm. It will be awarded 20% of the overall assessment mark for this unit. This 75 minute
examination (with a further 10 minutes reading time) will test material covered in the first 5 weeks of lectures,
the tutorial material up to and including week 6 and associated readings. The examination will be conducted in
several venues. You must bring a non-programmable calculator, a black or blue pen and your USyd Student
Identity Card to the examination.
Note: You cannot leave the examination early, do not plan any engagements that conflict with this
examination.
Further information will be available on blackboard closer to the time of the examination.

Assessment Criteria
Marks will be awarded for the completeness and accuracy demonstrated in examination answers relation to:
1. analysing the impact of basic business transactions across a variety of types of business organisation;
2. recording the impact of basic business transactions within accounting systems;
3. the production of financial statements;
4. evaluating and analysing accounting information to inform business issues and understanding the impact of
financial decisions on the financial statements;
5. explaining accounting concepts and principles;
6. conforming with instructions and clarity of expression;
7. responsiveness to questions/issues raised.
Feedback - What, when and how feedback will be provided for this assessment
After individual marks have been provided to students, information regarding common areas of difficulty and
exam statistics will be made available on Blackboard. Students will have an opportunity to view their exam
papers in an exam review session. Students are encouraged to discuss areas of concern with staff during a
staff consultation session to improve future performance.

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Practice Set

Task Description
Students are required to complete an online practice set that will count towards 15% of the overall
assessment mark for this unit. The due date is Monday 27 October, 2014 at 9am. The practice set has
been designed to provide students with experience in the practical and technical skills essential to accounting,
through the completion of a one month accounting cycle for a fictional business.
The practice set will provide each student with a unique accounting scenario and therefore must be completed
on an individual basis. Submission is to be completed online; however it is possible to print various parts of
the practice set for offline calculation. Once submitted, the practice set will provide immediate performance
feedback and a final score.
Further details on how to access and complete the practice set will be available on Blackboard.

Assessment Criteria
Marks will be awarded for the accuracy demonstrated in submitted work:
1. analysing the impact of basic business transactions within accounting systems;
2. recording the impact of basic business transactions within accounting systems;
3. the production of financial statements.
Feedback - What, when and how feedback will be provided for this assessment
Feedback is provided immediately and continuously as each section of the practice set is completed in the
form of marked sections, correct answers and marks achieved to date. Students can learn from their mistakes
at each section by carefully reviewing this feedback before proceeding. A final mark will be given on
completion of the practice set.

Final Examination

Task Description
The Final Examination is Mandatory.
This assessment is listed as MANDATORY which means you must undertake the assessment and achieve a
mark above 40% of the available marks in that assessment. Students who fail to achieve this minimum
standard in this assessment, even when their aggregate mark for the entire unit of study is above 50%, will be
given a Fail grade for this unit. As a result a student's academic transcript will show a fail grade and the actual
mark achieved if between 0-49 and a fail grade and a capped moderated mark of 49 for all other marks.
The final examination is a closed book examination and will be held during the University Examination Period.
It will be awarded 55% of the overall assessment mark for this unit. The exact date, time and venue will be
available on the universitys website later in the semester when the examination timetable is announced. This
two hour examination (with a further 10 minutes reading time) may cover topics from the entire unit of study,
with a focus on the topics covered after the mid-semester examination.
Further information on the examination will be available on blackboard closer to the time of the examination.

Assessment Criteria
Marks will be awarded for the completeness and accuracy demonstrated in examination answers relation to:
1. analysing the impact of basic business transactions across a variety of types of business organisation;
2. recording the impact of basic business transactions within accounting systems;
3. the production of financial statements;
4. evaluating and analysing accounting information to inform business issues and understanding the impact of
financial decisions on the financial statements;
5. understanding the role of accountants and accounting for decision making including ethical decision making
in contemporary business contexts;

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6. explaining and applying concepts, principles and frameworks - communicating confidently and coherently to
a professional standard;
7. conforming with instructions and clarity of expression;
8. addressing the question i.e. responsiveness to questions/issues raised.

Feedback - What, when and how feedback will be provided for this assessment
Students may view their exam paper in an exam review session after examination marks are available.

4. Other Resources for Students

All lectures and seminars are recorded and will be available within Blackboard for student use. Please note the
Business School does not own the system and cannot guarantee that the system will operate or that every
class will be recorded. Students should ensure they attend and participate in all classes.
The above paragraph does not apply in this unit. Recordings of all lectures may not be available as
lectures are designed to be interactive and as a result recordings are not a subsitute for attendance and
active engagement. However, pre-recorded lecture summaries will be available for students who are unable to
attend the lectures.

Pass Program
Peer Assisted Study Sessions. This program helps to improve students' academic performance providing extra
free learning opportunities with trained student facilitators, including problem solving practice where relevant, in
areas directly related to understanding the unit concepts more thoroughly. Students register for PASS online at:
http://sydney.edu.au/business/learning/students/pass Email all enquiries about the PASS program to:
business.pass@sydney.edu.au

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5. Unit Schedule
Week

Required Reading(s)

Lecture

Assessments Due

NB: Nine submissions

of Tutorial Written Work
Chapter 1 Carlon et al. (read Introduction to the Conceptual Framework
will be collected online
1
only PP. 11-13; 18-37; 42-66)
and at random in
28 Jul 2014 Chapter 2 Carlon et al. (read Revision: Introduction to accounting and
tutorials during the
only PP. 97-126)
the accounting Information System
semester. Details on
Blackboard.
2
Chapter 3 Carlon et al.
Accrual accounting concepts
4 Aug 2014
3
Chapter 4 Carlon et al.
Recording, analysing, managing and
11 Aug
Appendix not required until wk
reporting merchandising operations - 1
2014
8
4
Chapter 5 Carlon et al.
Recording, analysing,managing and
Academic honesty
18 Aug
Appendix 5A and 5C
reporting merchandising operations - 2
module
2014
5
25 Aug
Chapter 6 Carlon et al.
Accounting subsystems
2014
6
Chapter 7 Carlon et al.
Managing cash and
1 Sep 2014 Appendix NOT required
receivables
Mid-semester
7
Chapter 8 Carlon et al. (exc. Recording, analysing, managing and
examination
8 Sep 2014 PP. 459, 469-472, 475-482)
reporting non-current assets
(12 September 6pm)
8
Chapter 9 Carlon et al. (exc.
Recording, analysing, managing and
15 Sep
PP. 528-534)
reporting liabilities
2014
Appendix 4 GST PP. 235-240
9
Recording, analysing, managing and
22 Sep
Chapter 10 Carlon et al.
reporting equity
2014
Common week 29 Sep to 5 Oct
10
6 Oct 2014
11
13 Oct
2014
12
20 Oct
2014
13
27 Oct
2014

Chapter 11 Carlon et al.

Analysing, managing and reporting cash

flows Part 1 direct method

Chapter 11 Carlon et al.

Analysing, managing and reporting cash

flows Part 2 indirect method

Chapter 13 Carlon et al.

Analysing and integrating GAAP

See Blackboard for week 13

Revision Materials

Revision

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Practice set
(27 October 9am)