Course coordinator
Ms Yong Zhang
Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Business School
Develops the framework for the preparation and interpretation of financial statements through the provision of information on a range of common business transactions for companies, and on regulatory framework for financial reporting.
Corporate financial statements are the primary information source for financial markets about the activities undertaken by firms. The objective of this course is to provide an introductory treatment of the types of information that are gathered, why this is the information that is relevant, and how this information is summarised and reported by accountants within the current regulatory environment. The course further provides an introduction to how financial statements are analysed by financial market participants to assess value creation by companies. No previous knowledge of accounting is required.
Course requirements
Assumed background
This is an introductory course in Financial Accounting. No prior knowledge is assumed.
Incompatible
You can't enrol in this course if you've already completed the following:
(ACCT1101 and ACCT2101) or 2112 or 7101 or 7700 or 7804
Restrictions
Restricted to students enrolled in the BAdvFinEcon(Hons)
Course contact
Course staff
Lecturer
Ms Yong Zhang
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Please refer to the learning activities section for a list of course activities.
There are no tutorials in the first week of the semester.
Please note: Teaching staff doﾠnotﾠhave access to the timetabling system to help with class allocation. Therefore, should you need help with your timetable and/or allocation of classes, please ensure you emailﾠbusiness.mytimetable@uq.edu.auﾠfrom your UQ student email account with the following details:
- Full name,
- Student ID, and
- the Course Code
Aims and outcomes
The aim of this course is to teach youﾠthe "language of business". Financial accounting is the business information system that produces financial statements, the main source of information about the wealth and performance of corporations in financial markets. This course will demonstrate how accountants convert the economic outcomes of business decisions into financial statements using generally accepted accounting principles. By understanding this process you should be able to read, interpret and have a strong basic knowledge of how to analyse real-world financial statements.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Evaluate and explain accounting concepts, principles and methods.
LO2.
Record accounting transactions in accordance with the requirements in International Accounting Standards and Australian Accounting Standards.
LO3.
Prepare financial reports.
LO4.
Analyse and interpret financial reports.
LO5.
Understand the regulatory framework within which International Accounting Standards and Australian Accounting Standards are developed and issued.
LO6.
Consider corporate governance and ethical issues and implications for the business entity.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Quiz |
Tutorial Preparation Quizzes
|
10% |
Quiz 1 (Topic 2): Available from Monday, 29 July, 12 noon to Friday, 9 August at 4 pm. Week 2 Mon - Week 3 Fri Quiz 2 (Topic 6): Available from Monday, 9 September, 12 noon to Friday, 20 September, at 4 pm. Week 8 Mon - Week 9 Fri Quiz 3 (Topic 8): Available from Monday, 30 September, 12 noon to Friday, 1 October at 4 pm. Week 10 Mon - Week 11 Fri Quiz 4 (Topic 9): Available from Tuesday, 8 October, 4 pm to Friday, 18 October at 4 pm. Week 11 Tue - Week 12 Fri |
| Examination |
In-Semester Exam
|
35% |
Week 7
During the first lecture of the week - Monday, 2 September, between 10 am and 11:40 am. |
| Examination |
Final exam - Invigilated On Campus
|
55% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Tutorial Preparation Quizzes
- Online
- Mode
- Written
- Category
- Quiz
- Weight
- 10%
- Due date
Quiz 1 (Topic 2): Available from Monday, 29 July, 12 noon to Friday, 9 August at 4 pm. Week 2 Mon - Week 3 Fri
Quiz 2 (Topic 6): Available from Monday, 9 September, 12 noon to Friday, 20 September, at 4 pm. Week 8 Mon - Week 9 Fri
Quiz 3 (Topic 8): Available from Monday, 30 September, 12 noon to Friday, 1 October at 4 pm. Week 10 Mon - Week 11 Fri
Quiz 4 (Topic 9): Available from Tuesday, 8 October, 4 pm to Friday, 18 October at 4 pm. Week 11 Tue - Week 12 Fri
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03, L04, L05, L06
Task description
Tutorial Preparation Quizzes will be evaluated via four quizzes (through Blackboard) that will take place in selected weeks. Questions will be multiple choice or short answer and are based on the UPCOMING tutorial. Each quiz is designed from the tutorial questions or closely related to the topic of the week so that you can get prepared for the tutorial and also participate in the tutorial proactively.
Each quiz accounts for 2.5%. There are eleven days for students to attempt and submit each quiz. If you miss one quiz, the score for the missed quiz will be zero. No makeup will be available because answers for each quiz can be found in the solutions of tutorials which are released right after the quizzes are closed.
You are required to complete the quizzes individually. Quizzes can be attempted three times but only the last submission will be graded.
The four quizzes are:
- Quiz 1 is based on Topic 2. It will be opened after the Lecture for Topic 2 and closed before Tutorial Solutions for Topic 2 are released. The questions are based on the Tutorial for Topic 2.
- Quiz 2 is based on Topic 6. It will be opened after the Lecture for Topic 6 and closed before Tutorial Solutions for Topic 6 are released. The questions are based on the Tutorial for Topic 6.
- Quiz 3 is based on Topic 8. It will be opened after the Lecture for Topic 8 and closed before Tutorial Solutions for Topic 8 are released. The questions are based on the Tutorial for Topic 8.
- Quiz 4 is based on Topic 9. It will be opened after the Lecture for Topic 9 and closed before Tutorial Solutions for Topic 9 are released. The questions are based on the Tutorial for Topic 9.
AI Statement:
Note: This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
Assessments will be submitted via Blackboard
Deferral or extension
You cannot defer or apply for an extension for this assessment.
No extension or deferral is allowed for the quizzes.
Late submission
You will receive a mark of 0 if this assessment is submitted late.
No late submission is allowed. The quiz will be closed automatically past the due time.
In-Semester Exam
- Online
- Mode
- Written
- Category
- Examination
- Weight
- 35%
- Due date
Week 7
During the first lecture of the week - Monday, 2 September, between 10 am and 11:40 am.
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
The exam will be held ONLINE via Blackboard.
The exam duration is 90 minutes of working time and 10 minutes of reading time.
Topics 1 to 4 inclusive will be assessed in the in-semester exam.
The In-Semester exam will comprise multiple-choice questions and short answer questions. The questions include both theoretical and practical components.
In preparing for the In-Semester exam, you should review all lecture material, tutorial questions and exercises.
Please ensure you have a quiet environment and a good internet connection before you start.
AI Statement:
Note: This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 90 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Exam platform | Learn.UQ |
| Invigilation | Not invigilated |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Late submission
Exams submitted after the end of the submission time will incur a late penalty.
Final exam - Invigilated On Campus
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 55%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03, L04, L05, L06
Task description
The final exam will cover all topics with the main focus on Topics 5 to 10.
The final exam is a paper-based, closed book, invigilated exam by UQ-appointed invigilators as required by UQ and Professional Accounting organisations.
The final exam is timed to 2 hours with additional 10 minutes of reading time. Please use the 2 hours to answer the questions only.
The final exam consists of multiple choice questions and written questions including both practical and theoretical components. Information regarding more details of the exam will be provided in the revision lecture.
AI Statement:
Note: This assessment task is to be completed in person. The use of generative Artificial Intelligence (AI) tools will not be permitted. Any attempted use of Generative AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series or UQ approved , labelled calculator only |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0 - 29 |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30 - 46 |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47 - 49 |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50 - 64 |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65 - 74 |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75 - 84 |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85 - 100 |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
Grades will be allocated according to University-wide standards of criterion-based assessment.
Supplementary assessment
Supplementary assessment is available for this course.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 |
Lecture |
Topic 1 - Introduction to Financial Accounting and Financial Statements Learning outcomes: L01, L05, L06 |
Week 2 |
Tutorial |
Tutorial for Topic 1 Assigned Topic 1 questions in the Topic 1 folder on Blackboard Learning outcomes: L01, L05, L06 |
Lecture |
Topic 2 - Double Entry Accounting System Learning outcomes: L01, L02, L03, L05 |
|
Week 3 |
Tutorial |
Tutorial for Topic 2 Assigned Topic 2 questions in the Topic 2 folder on Blackboard Learning outcomes: L01, L02, L03, L05 |
Lecture |
Topic 3 - Adjusting and Closing Entries in Double Entry System Learning outcomes: L01, L02, L03, L05 |
|
Week 4 |
Tutorial |
Tutorial for Topic 3 Assigned Topic 3 questions in the Topic 3 folder on Blackboard Royal Queensland Show Public Holiday - No tutorials are on Wednesday, 14 August 2024. Please attend an alternative tutorial this week only. Learning outcomes: L01, L02, L03, L05 |
Lecture |
Topic 4 - Accounting for Retailing Firms Learning outcomes: L01, L02, L03, L04 |
|
Week 5 |
Tutorial |
Tutorial for Topic 4 Assigned Topic 4 questions in the Topic 4 folder on Blackboard Learning outcomes: L01, L02, L03, L04 |
Lecture |
Topic 5 - Accounting System & Conceptual Framework Learning outcomes: L01, L03, L05, L06 |
|
Week 6 |
General contact hours |
Independent Study: Preparation for In-Semester Exam No Lecture/Tutorial This Week |
Lecture |
Independent Study: Preparation for In-Semester Exam No Lecture/Tutorial This Week. |
|
Week 7 |
No student involvement (Breaks, information) |
In-Semester Exam No Tutorials due to the In-Semester Exam. Learning outcomes: L01, L02, L03 |
Lecture |
In-Semester Exam The In-Semester Exam (ONLINE) will be conducted during the first lecture of the week on Monday, 2 September, between 10 am and 11:40 am. Learning outcomes: L01, L02, L03 |
|
Week 8 |
Tutorial |
Tutorial for Topic 5 Assigned Topic 5 questions in the Topic 5 folder on Blackboard Learning outcomes: L01, L03, L05, L06 |
Lecture |
Topic 6 - Current Assets I - Cash and Receivables (CA) Learning outcomes: L01, L02, L03, L06 |
|
Week 9 |
Tutorial |
Tutorial for Topic 6 Assigned Topic 6 questions in the Topic 6 folder on Blackboard Learning outcomes: L01, L02, L03, L06 |
Lecture |
Topic 7 - Current assets II - Inventories (CA) Learning outcomes: L01, L02, L03, L04, L05 |
|
Mid Sem break |
No student involvement (Breaks, information) |
In-Semester Break |
Week 10 |
Tutorial |
Tutorial for Topic 7 Assigned Topic 7 questions in the Topic 7 folder on Blackboard Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Topic 8 - Non-current Assets (NCA) King's Birthday Public Holiday - Monday 7 Oct 2024 - Check Blackboard for announcements about affected classes. Learning outcomes: L01, L02, L03 |
|
Week 11 |
Tutorial |
Tutorial for Topic 8 Assigned Topic 8 questions in the Topic 8 folder on Blackboard King's Birthday Public Holiday - No tutorials Monday 7 October. Please attend an alternative tutorial this week only. Learning outcomes: L01, L02, L03 |
Lecture |
Topic 9 - Liabilities & Cash Flow Statement King's Birthday Public Holiday - Monday 7 Oct 2024 - Check Blackboard for announcements about affected classes. Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 12 |
Tutorial |
Tutorial for Topic 9 Assigned Topic 9 questions in the Topic 9 folder on Blackboard Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Topic 10 - Financial Statement Analysis Learning outcomes: L01, L02, L03, L04, L05 |
|
Week 13 |
Tutorial |
Tutorial for Topic 10 Assigned Topic 10 questions in the Topic 10 folder on Blackboard Learning outcomes: L01, L02, L03, L04, L05 |
Lecture |
Revision Lecture Revision Lecture Learning outcomes: L01, L02, L03, L04, L05 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.