Course coordinator
Dr Byungki Kim
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 a regulatory framework for financial reporting.
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 2111 or 7101 or 7804
Restrictions
Course is restricted to students enrolled in the BAdvBus(Hons) program
Course contact
Course staff
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Please note: Teaching staff do not have 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 email business.mytimetable@uq.edu.au from your UQ student email account with the following details:
- Full Name
- Student ID
- Course Code
Aims and outcomes
The aim of this course is to provide students with the necessary technical and technologicalﾠskills to analyse and interpret financial reports. The course covers a range of topics in financial accounting and additionally focuses on the way that information used for decision making.
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.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination |
In-Semester Exam
|
30% |
4/09/2024
During Lecture |
| Paper/ Report/ Annotation |
Assignment: Understanding Financial Statements
|
20% |
30/09/2024 2:00 pm |
| Examination |
Final exam
|
50% All topics |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
In-Semester Exam
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
4/09/2024
During Lecture
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
The In-Semester exam consists of multiple choice questions, short answer theory questions, practical questions including the preparation of journal entries (including adjusting and closing entries), and the preparation of basic financial statements. The material will be drawn from Topics 1 to 4 inclusive. In preparing for the exam you should review all lecture material, tutorial questions and exercises.
The exam will be a closed-book exam held on campus during lecture schedule and timed to 90 minutes with an additional 10 minutes perusal time.
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 | (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.
Assignment: Understanding Financial Statements
- Team or group-based
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 20%
- Due date
30/09/2024 2:00 pm
- Other conditions
- Peer assessed.
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
This assignment is to be completed in groups.
Full details of the assignment will be provided via the course Blackboard site.
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
Deferral or extension
You may be able to apply for an extension.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Final exam
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 50% All topics
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
The final exam will cover all the topics 1 to 10.
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.
The final exam will be a closed book exam invigilated on campus and timed to 2 hours with an additional 10 minutes perusal time.
Note: Sample exams are available on the university library website. Please note however that these are provided for revision purposes only.
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 | 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 |
Lecture 1 - Introduction to Financial Reporting This lecture will provide an introduction to accounting including the business environment, the regulatory environment and the financial statements. Learning outcomes: L01, L04, L05 |
Tutorial |
No Tutorials No tutorials this week |
|
Week 2 |
Lecture |
Lecture 2 - Recording Transactions: Double Entry Accounting Students will learn the principle of double-entry accounting (debits and credits) and how they are used to record accounting transactions. Learning outcomes: L02, L03 |
Tutorial |
Tutorial 1 Introduction to Financial Reporting Learning outcomes: L01, L04, L05 |
|
Week 3 |
Lecture |
Lecture 3 - Revenue and Expense Recognition in Accrual Accounting Students will learn the accrual accounting concepts and how they are used in making adjusting entries for prepayments and accruals. Learning outcomes: L02 |
Tutorial |
Tutorial 2 Recording Transactions - Double Entry Accounting & Xero Workshop (1): Preparing journal entries and trial balance using Xero Learning outcomes: L02, L03 |
|
Week 4 |
Lecture |
No Lecture (Public Holiday) Royal Queensland Show Public Holiday - Wednesday 14 Aug 2024 - Check Blackboard for announcements about affected classes. |
Tutorial |
Tutorial 3 Revenue and Expense Recognition in Accrual Accounting & Xero Workshop (2): Preparing adjusting journal entries and financial statements using Xero Note: There is a public holiday on 14th August (Ekka Holiday). Students who normally attend the Wednesday tutorials can attend alternate tutorials in this week. Learning outcomes: L02 |
|
Week 5 |
Lecture |
Lecture 4 - Accounting for Merchandising Firms Students will learn the accounting treatment of different inventory systems and cost flow methods. Learning outcomes: L02, L03, L04, L05 |
Tutorial |
No Tutorials No tutorials this week |
|
Week 6 |
Lecture |
Lecture 5 - Financial Statement Analysis Students will learn different tools of financial statement analysis including ratio analysis for assessing a company's creditworthiness and profitability. Learning outcomes: L01, L04, L05 |
Tutorial |
Tutorial 4 Accounting for Merchandising Firms Learning outcomes: L02, L03, L04, L05 |
|
Week 7 |
Lecture |
In-Semester Exam There will be no lectures and no tutorials in this week to assist with revision for the in-semester test. The in-semester test will be held during the lecture time on Wednesday 4th September. Learning outcomes: L01, L02, L03 |
Tutorial |
No Tutorials There will be no lectures and no tutorials in this week to assist with revision for the in-semester test. |
|
Week 8 |
Lecture |
Lecture 6 - Accounting for Current Assets Students will learn internal control principles for handling cash and the reporting of cash and receivables in the financial statements. Learning outcomes: L02, L03, L05 |
Tutorial |
Tutorial 5 Financial Statement Analysis Learning outcomes: L01, L04, L05 |
|
Week 9 |
Lecture |
Lecture 7 - Accounting for Non-Current Assets Students will learn the accounting treatment of non-current assets including the concept of depreciation, asset impairments and revaluation. Learning outcomes: L02, L03, L05 |
Tutorial |
Tutorial 6 Accounting for Current Assets Learning outcomes: L02, L03, L05 |
|
Mid Sem break |
No student involvement (Breaks, information) |
In-Semester Break There are no lecture or workshops this week. |
Week 10 |
Lecture |
Lecture 8 - Liabilities Students will learn the accounting treatment of current and non-current liabilities including debentures, provisions and contingent liabilities. Learning outcomes: L02, L03, L05 |
Tutorial |
Tutorial 7 Accounting for Non-Current Assets Learning outcomes: L02, L03, L05 |
|
Week 11 |
Lecture |
Lecture 9 - Equity Students will learn the accounting treatment of equity including the issuance of ordinary shares, share splits, cash dividends and share dividends. Learning outcomes: L02, L03, L05 |
Tutorial |
Tutorial 8 Liabilities Learning outcomes: L02, L03, L05 |
|
Week 12 |
Lecture |
Lecture 10 - Statement of Cash Flows Students will learn how to prepare a statement of cash flows using the direct/indirect method and how to evaluate an entity using cash flows. Learning outcomes: L02, L03, L04, L05 |
Tutorial |
Tutorial 9 Equity Learning outcomes: L02, L03, L05 |
|
Week 13 |
Lecture |
Lecture 11 - Revision Lecture This is a revision lecture and all the important concepts and principles learned in this course will be reviewed. Learning outcomes: L01, L02, L03, L04, L05 |
Tutorial |
Tutorial 10 Statement of Cash Flows Learning outcomes: 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.