BUSN1001

Accounting Principles Semester 1, 2015 Topic Coordinator: Maz Demosthenous Room 3.59 Law and Commerce Building Email: maz.demosthenous@flinders.edu.au Ph: 8201 3896 This topic guide should be read in conjunction with the Flinders Business School Undergraduate Student Handbook

1

Contents Page

1. Teaching staff 2

2. Topic aims 2

3. Learning outcomes and graduate qualities 2

4. Lecture outline and reading guide 3

5. Tutorials 6 6. TEST in week 6 7

7. Student workload 7 8. Student consultation 7 9. Being informed 8 10. Assumed knowledge 8 11. Textbooks 8 12. Reference books 8 13. Computer lab access 9 14. Topic FLO site 9 15. Topic prize 10 16. Assessment 10 Supplementary assessment 11 Grade descriptors 12

17. Extensions and late submission of assignments 14

18. Student support 14

19. Academic integrity policy 14

20. Discussion of results 15

21. Tutorial attendance, preparation and participation 15

22. Assignment expectations 16

23. Withdrawal deadlines 16

Statement of Assessment Methods 17

2

1. TEACHING STAFF

Topic Coordinator Maz Demosthenous Rm 3.59 LWCM Ph. (08) 8201 3896

Lecturers Maz Demosthenous Rm 3.59 LWCM Ph. (08) 8201 3896 Yen Bui Rm 3.63 LWCM Ph. (08) 8201 3081

Tutors

Maz Demosthenous Rm 3.59 LWCM Ph. (08) 8201 3896 Yen Bui Rm 3.63 LWCM Ph. (08) 8201 3081 Ludek Sena Rm 3.48 LWCM Ph. (08) 8201 2882

2. TOPIC AIMS

This topic introduces students to the technical aspects of recording and reporting accounting information for the relatively less complex sole proprietorship form of business organisation. It also aims to provide students with an understanding of the importance of financial information in business practice. The topic includes introductory financial accounting and preparation of three financial statements.

3. LEARNING OUTCOMES and GRADUATE QUALITIES Learning Outcomes

Upon successful completion of this topic students will be able to:

1. Understand how the accounting profession is organised in Australia 2. Complete the accounting cycle, which comprises:

o Explaining the accounting equation o Analysing the effects of business transactions on the accounting equation o Articulating the rules of debit and credit and how to apply these in analysing

transactions o Recording transactions in the appropriate journal o Posting transactions from the journals to the appropriate ledger o Preparing adjusting entries and reversing entries o Using a worksheet to complete the accounting cycle o Preparing financial statements

3. Complete an accounting cycle for a merchandising organisation 4. Prepare accounting entries for inventory and receivables 5. Prepare a bank reconciliation

3

Graduate Qualities Bachelor degree programs at Flinders aim to develop, along with more program-specific professional competencies, the core qualities listed here. These expected graduate qualities shape the more detailed educational aims and learning outcomes which are specified for each course and topic. Flinders University’s Bachelor degree programs aim to produce graduates:

• who are knowledgeable – the context of this topic will stretch students’ knowledge boundaries

• who can apply their knowledge – tutorial preparation and assignments give students the opportunity to apply the knowledge gained in the topic

• who communicate effectively – tutorials provide the opportunity to develop spoken communication skills and preparing assignments helps develop

written communication skills • who can work independently – assignment and examination preparation help

develop independent work habits and skills

Further attributes will be covered in other topics of your degree.

4. LECTURE OUTLINE AND READING GUIDE

There is one 2 hour lecture per week in this topic: Thursday 10.00 am to 12.00 pm in 1.01 Education building Lectures will typically introduce concepts and issues that will be revisited in greater depth in tutorials and workshops. Lectures may also include some material not covered in tutorials due to limitations of time. A guide to lecture material appears in this guide, below. Lectures will be digitally recorded, with the recording of the lecture available from the FLO site for the topic. The recording should be available within a couple of hours of the lecture, but be aware that this will be subject to technical staff availability. You can view the recordings on campus in the Computing Labs (Rooms 1.13 and 1.14 of the Law and Commerce Building) and in the Library, or off campus from any computer with Internet access (in the Computing Labs, you must supply your own headphones). Lectures are compulsory. Please note that lecture recording is to supplement face to face lectures (i.e. to allow you to catch up on a missed lecture or for revision), they do not replace face to face lectures. While every attempt is made to ensure lectures are recorded, technological failures do occur so students should not rely on these recordings. Notes:

• Hoggett et al. refers to the textbook: Hoggett J, Edwards L, Medlin J, Chalmers K, Hellman A, Beattie C and Maxfield J, (2015) Financial Accounting 9th ed. Wiley, Australia, and is required reading.

• We will not be covering Chapters 8 – 10 or 14-19 of the text (the concepts covered in

these chapters are covered in later topics). The weekly lecture outline may be found on the following pages.

4

Week Date Lecture Outline No. & Content Reading

1 5 March

Overview of topic, expectations & assessment 1. The Accounting Environment

This Topic Guide Hoggett et al. Ch. 1

2 12 March

2. Intro to Financial Reporting and the Accounting Equation

Hoggett et al. Ch. 2

3 19 March

3. Recording transactions in journals and ledgers:

Hoggett et al. Ch. 3

4 26 March

4. Balance day adjustments, using worksheets, preparing financial statements

Hoggett et al. Ch. 4

5 2 April

5. Completing the accounting cycle and Financial Statements

Hoggett et al. Ch. 5 (Easter week – Friday is a public holiday)

6 9 April

5 (cont.) Intro to GST TEST – lecture theatre

Hoggett et al. Ch. 3 Appendix p108

Mid Semester Break: 13 April – 24 April This two week break is NOT a holiday.

It is provided for students to begin Assignment 1 and undertake revision.

5

Week Date Lecture Outline No. and Content Reading

7 30 April

6. Accounting for Retailing Hoggett et al. Chapt 6

8 7 May 7. Accounting systems; special journals and subsidiary ledgers

Hoggett et al. Chapt 7

9 14 May 8. Cash; bank reconciliations Hoggett et al. Chapt 11

10 21 May 9. Receivables and doubtful Debts

Hoggett et al Chapt 12

11 28 May 10. Inventories Hoggett et al. Chapt 13

12 4 June

11. Overview of the topic & examination structure

Revision

13 11 June

No Lectures

6

5. TUTORIALS

Students are expected to attend one tutorial per week, which will last for 50 minutes, starting in Week 2. The allocation of tutorial groups was done at enrolment. Changes to allocated times can be made by the topic coordinator only.

Note: 10% of your assessment depends upon attendance and

preparation for tutorials. See details in section 22. Questions and problems for class discussion are set in advance of tutorials so that students will have sufficient time to prepare in order to participate in class discussion. TUTORIAL QUESTIONS FOR EACH WEEK CAN BE FOUND ON FLO. ALL QUESTIONS ARE FROM THE TEXTBOOK, HOGGETT ET AL. (2015) FINANCIAL ACCOUNTING, UNLESS OTHERWISE STATED.

Tutorials will usually involve application of problem-solving skills to specific questions. Discussion questions and problems will normally relate to material introduced in lectures in the previous week. PUBLIC HOLIDAYS The 3rd of April is a public holiday (Good Friday). If you are allocated to a tutorial on Friday you should attend another class during the week (see list of class times and rooms on the FLO site). If you cannot attend at any other time, please advise your tutor. TUTORIAL PREPARATION

Tutorials are the most important mode of teaching and learning utilised in this subject. They will be effective if students prepare written answers in advance and bring them to class in appropriate form (i.e. logically structured and neat and tidy). This will allow students and tutors to readily identify problem areas and deal with them in an economical fashion. If students come to class poorly prepared it will not be possible to get through all the questions set, or to address students’ problems. Tutors have the option of abandoning classes where student preparation is sub-standard.

Please note the difference between Discussion Questions, Exercises and Problems when preparing for tutorials. The “Discussion Questions” listed as tutorial preparation may not be covered in all tutorials unless students request discussion of a particular question at the beginning of the tutorial or if there is time left after going through the exercises and problems. These are generally intended to indicate the important points in each Chapter for revision purposes. Generally, printed solutions to tutorial problems will NOT be distributed to students. On some occasions, to be determined by the topic coordinator only, a particular solution may be provided to all students and this will be done via FLO.

7

6. TEST

In Week 6 The Test will take place in the lecture theatre Exam conditions/closed book Week 1-5 material will be examined

Non-programmable, non-text, non-financial calculators will be permitted in the examination

The Test is worth 10% of your assessment.

7. STUDENT WORKLOAD

Flinders uses units to provide guidance to students on their study plans. It is normally expected that each unit point is equivalent to approximately two hours of study time per week (including both formal contact time in lectures, tutorials etc.) and individual study time during the teaching period, including mid-semester breaks. The expected workload for each 4.5 unit topic is therefore approximately 9 hours per week. Note this is indicative only of the estimated minimum time commitment necessary to achieve an average grade in the topic.

8. STUDENT CONSULTATION

You may consult with the tutors regarding topic subject matter at the times specified in the student consultation timetable (available on FLO), or by prior arrangement. If the tutor is not in their office for some reason during their notified consultation times please see the Business School office staff in room 3.07.

8

9. BEING INFORMED For the purposes of this topic you will be deemed to be aware of:

1. The contents of this Topic Guide.

2. Any announcements made or handouts distributed during lectures and/or placed on the Flinders Business School noticeboard (outside the Computer Labs 1.13 and 1.14 on Level 1 of the Law and Commerce Building). Copies of all handouts will also be available for download from the topic FLO site

Any important announcements made during lectures will also be sent to your FLO email address [or posted on the FLO noticeboard for the topic]. It is therefore important that you check your FLO email account [or the FLO noticeboard] on a regular basis.

3. Any announcements made or handouts distributed during your tutorial.

10. ASSUMED KNOWLEDGE No prior knowledge of accounting is assumed. 11. TEXTBOOKS

Hoggett et al. refers to the textbook: Hoggett J, Edwards L, Medlin J, Chalmers K, Hellman

A, Beattie C and Maxfield J, (2015) Financial Accounting 9th edition. Wiley, Australia. 12. REFERENCE BOOKS

The following resources are useful for studying this topic, but are not required to be purchased (all books are available in the library):

Carlon S., Mladenovic R., Palm C., Kimmel P., Kieso D.E. and Weygandt J.J (2012) Accounting: building accounting skills, Wiley, Australia

Carlon S., Mladenovic R., Palm C., Kimmel P., Kieso D.E. and Weygandt J.J (2009) Financial Accounting: building accounting knowledge Wiley, Australia

Hoggett J., Edwards L. and Medlin J. and Tilling, M. (2009) Accounting, 7th Edition, Milton,

Wiley. Australia. (This book is similar to the textbook but contains additional chapters that cover management accounting)

Horngren C., Harrison W., Bamber L., Best P., Fraser D., and Willet R. (2004) Accounting,

4th Edition, Frenchs Forest NSW, Pearson.

9

13. COMPUTER LAB ACCESS

Every student enrolled in a Social and Behavioural Sciences topic (including BUSN1001) has their own individual account on the S&BS network. Your Flinders Authentication Name (FAN) (this is the same for lab access, your central email account and FLO access) (i.e. the first four letters of your surname followed by four digits) was sent to you when you first enrolled at Flinders. Your initial password will be the last four digits of your student ID number followed by the first four digits of your birth date (e.g. if your student ID number is 9912345 and you were born on 12 February 1981, your initial password would be 23451202). It is best to change your password as soon as possible. If you experience any difficulties with computer network access contact the Computer Support Helpdesk area in Social Sciences North (telephone access is available in the computer labs).

14. TOPIC FLO SITE AND OTHER USEFUL INTERNET SITES

BUSN1001 Flinders Learning Online (FLO) Site

The Topic Name FLO site is accessible through the iFlinders Student Portal accessible from i.flinders.edu.au. Students are required to login on a regular basis to check topic announcements, mail and discussions. What is FLO for? Flinders Learning Online (FLO) provides additional support for students enrolled in this topic via access to materials through the Internet. All handouts distributed in lectures will be available via the FLO site, as well as all topic information, staff details, assessment details and announcements.

The site allows you to communicate with teaching staff and with other students. Staff may use the site to make announcements, provide feedback and answer frequently asked questions. FLO Features • Topic information (e.g. aims and learning outcomes, staff, assessment, deadlines, study

schedule, tutorial questions etc.). • Downloadable copies of all handouts. • Videos of lectures • Calendar of critical dates (eCalendar). • Details of policies (e.g. supplementary examinations, plagiarism, etc.). • Links to useful web sites (including professional bodies, other business/accounting

related sites, Library, Flinders Business School). • Internal FLO email.

This email facility will be used on a regular basis to communicate with students. You should therefore ensure that you check your FLO email regularly.

• Announcements will be posted on the announcements board, and may also be emailed to your FLO email account.

10

Help with FLO: You are encouraged to enrol in a FLO workshop in the library (if you have not already attended one in a prior year). Technical problems should also be referred to library staff. Staff in the Flinders Business School can only provide help with the topic and cannot provide technical support.

Privacy Information: Students should be aware that the topic coordinator is able to access information about students’ use of the FLO site. For example, a record of which pages were visited, when, for how long and what has been downloaded are maintained for every student enrolled in the topic.

Links to other useful websites are provided on the topic FLO site. You can also access these sites directly at the following URLs:

CPA Australia www.cpaaustralia.com.au Institute of Chartered Accountants in Australia (ICAA) www.icaa.org.au

15. CPA AUSTRALIA YOUNG PROFESSIONALS NETWORK PRIZE This prize is awarded to the student who achieves the highest overall mark for BUSN1001

Accounting Principles. The value of the prize is $200. (In the case of joint-winners the prize will be divided equally amongst the winners.

16. ASSESSMENT

COMPONENT PERCENTAGE OF TOTAL TOPIC GRADE

Tutorial Attendance and Preparation 10

TEST - week 6 lecture theatre 10

Assignment One: Written Problems * Due: Monday 25 May, 4.00 pm (WEEK 11)

20

One 3 hour examination (unseen) In the end-of-semester examination period

60

TOTAL 100%

In order to achieve a passing grade in the topic each student must achieve an overall mark of 50% or above and must achieve a mark of at least 50% in the final examination. Failure to gain 50% or above in the examination component will automatically lead to a grade of Fail (F) in the topic.

11

Assignments

* Full details of the assignment questions can be found in the ‘Assignments’ handout.

REDEMPTION BY RE-SUBMISSION IS NOT PERMITTED.

Assignments are required to be lodged electronically via FLO by 4.00 PM on the due date and further instructions will be given with the assignment handout. Examinations

The examination will be held during the examination period at the end of Semester.

Students must achieve a mark of 50% for the examination in order to be eligible to pass the topic. Failure to do so will automatically lead to a grade of Fail in the topic. The examination will not be “open-book”. Non-programmable, non-text, non-financial calculators will be permitted in the examination

Supplementary assessment

Information on eligibility for supplementary examinations can be found in the Statement of Assessment Methods attached to this Topic Guide, or in the Flinders University Student Related Policies and Procedures Manual 2014.

In order to be eligible for an academic supplementary examination both Assignments must be completed and handed in for assessment, AND students must have received a non-zero mark for tutorials and compulsory online quizzes or have successfully applied for exemption from this component of the assessment.

Any supplementary assessment in this topic will take the form of an examination

Supplementary examinations are held in July. Details of supplementary examination schedules for BUSN topics will be advised via the University Examination website. See details under ‘Current Students’ on the Flinders website. Note: Very important – students need to be aware that no Semester 1 BUSN topic or Semester 2 supplementary examination can be sat overseas. It is students’ responsibility to ensure that they know the times, dates and venues of all supplementary examinations. Students who book holidays, return to their home country, or cannot attend for other non-essential reasons when supplementary examinations are scheduled will not be provided with an alternative supplementary examination date.

12

Students who have been granted a supplementary examination on, but who are unable to sit the supplementary examination as a result of ongoing medical or compassionate circumstances certified by a professional practitioner may be offered alternative assessment (which will be an examination) by the topic co-ordinator, or a WN (Withdraw, Not Fail). The medical/compassionate supplementary examination must be concluded by the end of the mid-semester break of Semester 2 for 1st Semester topics, and by the first day of semester 1 for 2 Semester topics. Where students have been unable to complete supplementary assessment by these dates, a grade of WN will be entered. Details on Supp on Supp examination schedules for BUSN topics will be advised to eligible students.

GRADE DESCRIPTORS In line with the University's assessment policies and procedures in relation to grading for

topics, the following notations will be used. Final grade descriptors are taken from the University’s Student Related Policies and Procedures, under Assessment Policies and Procedures (6.1 Final Grades), which indicate the standards necessary to achieve each of the final grades.

Grade (Notation)

Percentage Range

Final Grade Descriptor

Pass Level (P)

50-64

The grade will be awarded where there is evidence that a student has undertaken the required core work for the topic and has demonstrated at least an adequate level of knowledge/understanding/competencies/ skills required for meeting topic objectives and satisfactorily completing essential assessment exercises.

The student would normally have attained an adequate knowledge of matter contained in set texts or reading materials, and demonstrated familiarity with major academic debates, approaches, methodologies and conceptual tools.

Pass is the highest grade which can be achieved in a supplementary assessment granted on academic grounds.

Credit (CR) 65-74

The grade will be awarded where there is evidence that a student has undertaken all of the required core work for the topic and additional work in wider areas relevant to the topic, and has demonstrated a sound level of knowledge/understanding/competencies/skills required for meeting topic objectives and completing assessment exercises at a proficient standard.

The student would normally have attained a sound knowledge of matter contained in set texts or reading materials and have done wider reading, and demonstrated familiarity with and the ability to apply a range of major academic debates, approaches, methodologies and conceptual tools.

13

Students should have a reasonable opportunity of reaching this grade provided they have completed all course requirements, demonstrated proficiency in the full range of course objectives and shown considerable evidence of a sound capacity to work with the range of relevant subject matter.

Distinction (DN)

75-84

The grade will be awarded where there is evidence that a student has undertaken all of the required core work for the topic at a high level and considerable additional work in wider areas relevant to the topic, has demonstrated advanced knowledge/understanding/competencies/skills required for meeting topic objectives and completing assessment exercises at a high standard.

The student would normally have attained an advanced knowledge of matter beyond that contained in set texts or reading materials and have done considerable wider reading, and have demonstrated a broad familiarity with and facility at applying a range of major academic debates, approaches, methodologies and conceptual tools.

The grade should reflect very high quality work which shows the student generally works at a level which is beyond the requirements of the assessment exercise and is developing a capacity for original and creative thinking.

High Distinction (HD)

85-100

The grade will be awarded where there is evidence that a student has undertaken the required core work for the topic at a high level and considerable additional work in wider areas relevant to the topic, has demonstrated the acquisition of an advanced level of knowledge/understanding/competencies/skills required for meeting topic objectives and passing the range of topic elements at the highest level.

The student would normally have attained an in-depth knowledge of matter contained in set texts or reading materials and undertaken extensive wider reading beyond that which is required or expected. The student would have consistently demonstrated a high level of proficiency at applying a range of major academic debates, approaches, methodologies and conceptual tools and combining knowledge of the subject matter of the topic with original and creative thinking.

The grade will be awarded in recognition of the highest level of academic achievement expected of a student at a given topic level.

Fail (F) 0-49

The grade will be awarded if a student is unable to demonstrate satisfactory academic performance in the topic or has failed to complete essential topic elements or required assessment tasks at an acceptable level, in accordance with topic objectives.

14

You are also advised to carefully read the Statement of Assessment Methods form attached to this Topic Guide. In addition to reiterating information outlined above, it includes other important information of which all students enrolled in this topic should be aware.

17. EXTENSIONS AND LATE SUBMISSION OF ASSIGNMENTS

Extensions for assignments may be granted in exceptional circumstances only, and will only be granted on medical or compassionate grounds. A student must approach the Topic Coordinator prior to the submission deadline to seek such an extension. Documentary evidence supporting the requested extension (e.g. a medical certificate covering a sufficient relevant period prior to the due date) will be required.

Where no extension has been granted late submissions will be dealt with as follows:

• A penalty of 20% of the allocated mark per day or part thereof overdue, up to 72 hours after the deadline.

• Assignments submitted more than 72 hours after the deadline will not be

marked. 18. STUDENT SUPPORT

Flinders Business School provides support for all its students in English language, writing, numerical skills and plus additional support is available for specific first year topics. Information about the Flinders Business School Steps to Success Programme (STS) will be provided in lectures, on noticeboards and via the Steps to Success web site at: www.flinders.edu.au/sabs/business/current_students/sts/

19. ACADEMIC INTEGRITY POLICY

All students and staff have an obligation to understand and respect the rules and practice of academic integrity. It is therefore expected that students and staff will adhere to high standards of academic integrity. The full policy can be found in the Student Related Policies and Procedures Manual or on the University Web site: http://www.flinders.edu.au/ppmanual/student/SecC_b.htm The following, highlighted, extract is taken from the University’s Policy on Academic Integrity.

2 Academic Integrity

2.1 Academic integrity means that all work which is presented is produced by the student alone, with all sources and collaboration fully acknowledged.

2.2 Any failure to meet the requirements of academic integrity in any form of academic work will be regarded as a breach of the requirements of academic integrity and, depending on the circumstances and the nature of the breach, consequences including penalties may be expected to follow. Breaches of academic integrity may include plagiarism, collusion, fabrication, falsification, double submission of work and misconduct in examinations.

15

2.2.1 Plagiarism Plagiarism is the use of another person's words or ideas as if they were one's own. It may occur as a result of lack of understanding and/or inexperience about the correct way to acknowledge and reference sources. It may result from poor academic practice, which may include poor note taking, careless downloading of material or failure to take sufficient care in meeting the required standards. It may also occur as a deliberate misuse of the work of others with the intent to deceive. It may include, but is not restricted to:

• presenting extracts, without quotation marks and/or without appropriate referencing, from books, articles, theses, other published or unpublished works, films, music, choreography, working papers, seminar or conference papers, internal reports, computer software codes, lecture notes or tapes, numerical calculations, data or work from another student. In such cases, it is not adequate merely to acknowledge the source. This applies to material accessed in hard copy, electronically or in any other medium;

• close paraphrasing of sentences or whole paragraphs with or without acknowledgement by referencing of the original work;

• adopting ideas or structures from a source without acknowledgment;

• using source codes and data from other's work without acknowledgement;

• arranging for someone else to undertake all or part of a piece of work and presenting that work as one's own;

• submitting another student's work whether or not it has been previously submitted by that student.

2.2.2 Collusion Collusion occurs when a student submits work as if it has been done individually when it has been done jointly with one or more other person unless the topic coordinator has indicated that this is acceptable for the specific piece of work in question.

2.2.3 Other breaches of the requirements of academic integrity Other breaches of the requirements of academic integrity may include:

• submission of the same piece of work for more than one topic unless the topic coordinator(s) have indicated that this procedure is acceptable for the specific piece of work in question; • providing another student with the means of copying an essay or assignment.

20. DISCUSSION OF RESULTS

Students may not discuss with staff the content of examinations, their performance therein, or topic results, until final grades have been officially released by the University.

21. TUTORIAL PREPARATION, ATTENDANCE and PARTICIPATION

Your 10% tutorial mark will be assessed on attendance at the tutorial and preparation of answers to tutorial questions. Each week, students will be asked to show tutors their written answers to questions and will be awarded a mark if preparation is satisfactory. Attendance without adequate written preparation will be awarded a half mark. The best ten (10) marks for the semester will be counted.

16

Failure to attend at least five (5) of the 12 tutorials will result in a zero marks (out to the maximum possible 10 marks) being awarded for this component of the assessment. In addition, failure to satisfy the minimum attendance requirement is deemed to constitute failure to meet the assessment requirements for the purposes of eligibility for supplementary assessment on academic grounds. (See also the Statement of Assessment Methods form.) If you are unable to attend in a particular week due to illness a medical certificate or other appropriate documentary evidence covering the day of the tutorial must be sighted by your tutor.

Difficulty in attending tutorials In cases of genuine inability to meet the attendance requirement, the 10 marks for tutorial participation may be reallocated to the final examination (i.e. in such cases the final examination would be weighted 70% of the total assessment). Students who anticipate that they will be unable to meet the minimum attendance requirement, and can provide documentary evidence of their inability to do so, should discuss their situation with the Topic Coordinator before the end of the second week of the semester (i.e. by Friday, 13th March 2015). Arrangements in relation to this matter will not be negotiated after this date.

22. ASSIGNMENT EXPECTATIONS

You should note the following requirements relating to the assignments in this topic:

• For all practical/problem questions complete and detailed workings/ calculations must be shown. In most cases marks will be attached to the required workings.

• Presentation will be taken into account in determining your final grade for the assignments. Assignments should preferably be typed/word-processed.

• You must keep a copy of the final version of all assignments you submit. You should keep a hard copy as well as a soft / disk copy of your work.

• Failure to submit any or all of the assignments for this topic is deemed to constitute failure to meet the assessment requirements for the purposes of eligibility for supplementary assessment on academic grounds. (See also Section 9 of the attached Statement of Assessment Methods form.)

• Plagiarism and other forms of academic dishonesty are treated as serious offences by the University and are subject to harsh penalties, which may include expulsion from the University. Ensure that you have read and understood the University’s policy on academic dishonesty, as contained in the Student related Policies and Procedures Manual.

23. WITHDRAWAL DEADLINES Certain deadlines apply to students regarding enrolment and withdrawal. Details of

withdrawal deadlines for the current semester may be viewed at: www.flinders.edu.au/studentinfo/important_dates.htm

17

Flinders University

STATEMENT OF ASSESSMENT METHODS - 2015

Students' attention is drawn to the Student Related Policies and Procedures Manual 2013 (http://www.flinders.edu.au/ppmanual/student.html), which outlines the University’s Assessment Policy.

Topic number and title: BUSN1001 - Accounting Principles

Units: 4.5 Units

Date on which this statement was provided to students: 5 March 2015

Duration of topic: 5 March 2015 to 4 July 2015

School(s) responsible for topic: Flinders Business School

Topic Coordinator: Maz Demosthenous

Telephone number of Topic Coordinator: (08) 8201 3896 Expected student workload* (http://www.flinders.edu.au/ppmanual/student/SecC_expected.html ): number of hours per week or in total (specify). 9 Hours per week (see Topic guide section 9)*

* Indicative only of the estimated minimum time commitment necessary to achieve an average grade in the topic. Expected student workload should be based on the standard student workload of approximately 30 hours of student time commitment per unit.

Details of assessable work in the topic. (Optional forms of assessment, where permitted, are also detailed):

Format of each form of assessable work Proportion of total marks/100

Deadline for submission*

Penalties to be applied if deadline is not met

Date work is expected to be returned to students

Tutorial Attendance and Preparation TEST –week 6 in lecture theatre Assignment One: Written Problems One 3 hour examination (unseen closed book)

10

10

20

60

Continuous in tutorials Week 6 25 May, 4.00 pm

N/A Non-attendance -FAIL For Assignments 1, 20% per day or part thereof unless an extension is granted (see Topic Guide Section 18) N/A

Week 7 Week 13

* Extensions may be granted by a topic coordinator where the following criteria apply: • the student has made a written request for an extension prior to the due date for the assessment item; • the student has justified the request on the basis of unforeseen individual circumstances that are reasonably likely to prevent completion of the assessment by the specified due date.

18

The criteria for successful completion of the topic (including, where appropriate, the achievement of a certain minimum level of competence in both the theoretical and practical components of the topic and details of special requirements concerning particular elements or aspects of the topic such as attendance/participation requirements, group activity) are as follows: In order to achieve a passing grade in the topic each student must achieve an overall mark of 50% or above and must achieve a mark of at least 50% in the final examination. Failure to gain 50% or above in the examination component will automatically lead to a grade of Fail (F) in the topic. In order to be eligible for an academic supplementary examination Assignment 1 must be completed and handed in for assessment and students must have received a non-zero mark for tutorials. All supplementary assessment in this topic will take the form of a 3-hour examination.

19

STATEMENT OF ASSESSMENT METHODS – 2015 Alignment of Assessment with Expected Topic Learning Outcomes On completion of this topic, students will be expected to be able to:

Assessment items relating to each Learning Outcome

LO1: Understand how the accounting profession is organised in Australia

Tutorial & Compulsory Online Quiz

LO2: Complete the accounting cycle, which comprises:

o Explaining the accounting equation o Analysing the effects of business

transactions on the accounting equation o Articulating the rules of debit and credit and

how to apply these in analysing transactions o Recording transactions in the appropriate

journal o Posting transactions from the journals to the

appropriate ledger o Preparing adjusting entries and reversing

entries o Using a worksheet to complete the

accounting cycle o Preparing financial statements

Tutorial Attendance & Participation TEST Assignment 1 Final 3 Hour Examination

LO3: Complete an accounting cycle for a merchandising organisation

Tutorial Attendance & Participation Assignment 1 Final 3 Hour

LO4: Prepare accounting entries for inventory and receivables

Tutorial Attendance & Participation Assignment 1 Final 3 Hour Examination

LO5: Prepare a bank reconciliation

Tutorial Attendance & Participation Final 3 Hour Examination

Alignment of Assessment with Graduate Qualities (only include for topics offered in undergraduate courses) Flinders University’s Bachelor degree programs aim to produce graduates who:

Assessment items relating to each Graduate Quality

GQ1. Are knowledgeable

Tutorial Attendance & Participation TEST Assignment 1 Final 3 Hour Examination

GQ2. Can apply their knowledge

Tutorial Attendance & Participation TEST Assignment 1 Final 3 Hour Examination

GQ3. Communicate effectively

Tutorial Attendance & Participation Assignment 1 Final 3 Hour Examination

GQ4. Can work independently Tutorial Attendance & Participation

20

TEST Assignment 1 Final 3 Hour Examination

GQ5. Are collaborative

All assessment items are individual assessment items. Collaboration on assessment items not permitted for BUSN1001.

GQ6. Value ethical behaviour

Assessed more extensively in other topics.

GQ7. Connect across boundaries.

Assessed more extensively in other topics.

Detection of Breaches of Academic Integrity Staff may use a range of methods (including electronic means) to assist in the detection of breaches of academic integrity. In addition, the University makes available for staff and student use the electronic text matching software application – Turnitin. Will the electronic text matching software application Turnitin be used? No If Yes, students will receive a written statement describing how the software will be used and be advised about the Flinders Learning Online Academic Integrity site.

Will scaling procedures be used in determining marks for each piece of work or for determining the final topic grade? Yes Details of scaling procedures: Final examination marks may be scaled in order to achieve a satisfactory distribution of passing grades. May assessment exercises be resubmitted after revision for re-marking? No The circumstances under which assessment exercises may be resubmitted, the form this may take and the maximum mark obtainable are as follows: Resubmission is not permitted.

21

Students who believe that their ability to satisfy the assessment requirements for this topic has been or will be affected by medical, compassionate or other special circumstances and who want these circumstances to be taken into consideration in determining the mark for an assessment exercise may apply to the Topic Coordinator of the topic for special consideration. The preferred method of application is: specify: By email Supplementary assessment for this topic may be approved on the following grounds: • Medical/Compassionate – a student who is unable to sit or remain for the duration of the original

examination due to medical or compassionate reasons may apply for supplementary assessment. If illness or special circumstance prevents the student from sitting or remaining for the duration of the scheduled supplementary examination, or from submitting by the agreed deadline a supplementary assessment exercise, the student will be either: awarded a result in the topic of Withdraw, Not Fail (WN); or be offered the opportunity to demonstrate competence through an alternative mechanism. If illness or special circumstance is demonstrated to persist up to the commencement of the next academic year, then the student will be awarded a result in the topic of WN.

• Academic – a student will be granted supplementary assessment if he/she: achieves an overall result in the topic of between 45 and 49%, (or between 40 and 49% where a student obtains a fail grade in the last 12 units required for completion of a course) or the equivalent where percentage marks are not awarded; has completed all required work for the topic; has met all attendance requirements; and obtains at least a pass level grade in any specific component of assessment (other than an examination) for the topic where this is explicitly stated to be a formal requirement for the successful completion of the course or topic. If illness or special circumstance prevents the student from sitting or remaining for the duration of the scheduled supplementary assessment, the student will be either: awarded a result in the topic of Withdraw, Not Fail (WN); or be offered the opportunity to demonstrate competence through an alternative mechanism. If illness or special circumstance is demonstrated to persist up to the commencement of the next academic year, then the student will be awarded a result in the topic of WN.

A student with a disability, impairment, or medical condition who seeks reasonable adjustments in the teaching or assessment methods of a topic on the basis of his/her disability may make a request to the Topic Coordinator or the Disability Advisor as soon as practicable after enrolment in the topic. Any such reasonable adjustments must be agreed in writing between the student and the Topic Coordinator and must be in accordance with related University policy. A student who is dissatisfied with the response from the Topic Coordinator or with provisions made for reasonable adjustments to teaching or assessment methods may appeal in writing to the Faculty Board. ..................................................... 5th March, 2015 Signature of Topic Coordinator Date