Undergraduate unit of study descriptions

Please Note:The Business School website (sydney.edu.au/business/ugunits) contains the most up to date information on unit of study availability and other requirements. Timetabling information for 2014 is available on this website (sydney.edu.au/business/timetable). Students can also refer to the University of Sydney's unit of study handbook (https://ssa.usyd.edu.au/ssa/handbook/uossearch.jsp) for the latest information regarding unit of study descriptions, assessment or other requirements.

ACCT - Accounting


Item Change Date
1 BUSS2100 Business Placement A (Internship) has been removed as an elective option for this major. 20/08/2014
ACCT1006 Accounting and Financial Management

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x 1.5hr lecture and 1x 1.5hr tutorial per week Assessment: Tutorial work (10%), practice set (15%), mid-semester exam (20%) and final exam (55%)
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.
ACCT2011 Financial Accounting A

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x2hr lecture and 1x1hr tutorial per week Assessment: Mid-semester examination (40%) and final examination (60%)
This unit examines the accounting and reporting practices of reporting entities, particularly listed public companies. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, the various regulatory requirements (professional and statutory) governing financial reporting. The unit commences with an overview of the financial reporting environment and theories that seek to explain the accounting policy choices of management. This framework provides a basis for examining a range of specific issues in financial accounting. Emphasis throughout the unit is on both the application of specific accounting techniques/rules and the conceptual/theoretical issues associated with alternative accounting methods.
ACCT2012 Management Accounting A

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1 x 2hr lecture and 1x 1hr tutorial per week Assessment: Computer assignments (10%), quizzes (10%), case study assignment (10%); SAP assignment (10%), and final examination (60%)
This course provides students with an introduction to the basics of management/cost accounting; itequips them with necessary skills to use an industry-standard accounting system and management accounting information efficiently and effectively.Areas specifically covered include: cost terms and purposes, cost behaviour, cost-volume-profit analysis, cost estimation, basic and alternative product costing methods, detailed study of the mechanics of the budgeting process (master budgets, flexible budgets, standard costing and variance analysis, capital budgeting), sustainability and environmental management accounting,decision making using relevant costs/revenues and cost allocation.
ACCT3011 Financial Accounting B

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x2hr lecture and 1x1hr tutorial per week Assessment: Mid-semester examination (30%), group presentations (10%), group assignment (10%), and final examination (50%)
This unit introduces students to accounting for investments in entities that are controlled, significantly influenced, or jointly controlled by the investor. The first part of the unit focuses on assessing whether an investment should be consolidated, the process of consolidation, the preparation of consolidated financial statements for corporate groups, including the treatment of goodwill, intra-group transactions and non controlling interests. Other aspects of group accounting, such as equity accounting, segment disclosures, related party disclosures, and accounting for joint operations are investigated. The first part of the unit concludes with a critical analysis of group accounting, including the outcomes of related processes, and the impact on users. The second part of the unit focuses on critically evaluating current issues in accounting regulation and practice, such as the politics of the standard-setting process, using accounting for financial instruments as a special case. Finally, voluntary disclosures for social and environmental reporting are considered. This unit aims to further develop students' written communication skills and critical and analytic skills within the context of corporate group activities.
ACCT3012 Management Accounting B

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x1.5hr lecture and 1x1.5hr tutorial per week Assessment: Tutorial participation (5%), tutorial presentation (10%), tutorial critique (10%), mid-semester exam (25%), and Final exam (50%)
Note: Discipline Permission required for students who have not passed ACCT2012 (or ACCT2002)
Management Accounting B deals with the theory and practice of a selection of contemporary management accounting issues. The course begins by examining the influences that impact upon the design of an organisation and its management accounting system. Behavioural factors, rather than technical factors, are highlighted and a range of organisational settings and management levels are reviewed. The unit then examines advanced issues relevant to operational management accounting. While this section of the course builds on the foundations laid in Management Accounting A, the focus remains on the behavioural implications of accounting techniques for making decisions in organisations.
ACCT3013 Financial Statement Analysis

Credit points: 6 Session: Semester 1 Classes: 1x 2hr lecture and 1x 1hr tutorial per week Assessment: tutorial participation (10%), mid-semester examination (20%), group case studies (15%), and final examination (55%)
Although the appropriate 'form' of financial analysis depends largely on the specific context (e.g. equity investment, credit extension, analysis of supplier/customer health, competitor analysis, regulatory overview or intervention, valuation for takeover/restructuring), many of the techniques of financial analysis are common to each. A primary purpose of this course is to develop an understanding of these techniques, as well as the inherent difficulties in their application. Specific issues addressed include the analysis of business performance and disclosure, the analysis of earnings quality, cash flow assessment, credit worthiness and accounting-based valuation methods.
ACCT3014 Auditing and Assurance

Credit points: 6 Session: Semester 1,Semester 2 Classes: 1x2hr lecture and 1x1hr tutorial per week Assessment: Group assignment (20%), mid-semester examination (30%), and final examination (50%).
This unit of study examines the process of auditing, highlighting the important concepts which underpin the practice of auditing. Although the focus of attention is on the audit of corporate financial reports undertaken in compliance with the Corporation Act 2001 (Cth), reference is also made to other forms of audit and assurance. The unit of study is intended to provide an overview of the audit process within the context of Australian Auditing Standards. The course is both practical and theoretical, with students expected to apply their knowledge to practical case studies developed from practice.
ACCT3031 International Corporate Governance

Credit points: 6 Session: Semester 2 Classes: 1x 2hr lecture and 1x 1hr tutorial per week Assessment: Individual assessment (20%), mid-semester exam (20%), group assessment (25%), and final exam (35%).
This unit examines the evolving view of corporate governance from an international perspective, with reference to Australian principles. Corporate governance from a narrow view is concerned with how a corporation is controlled, to the establishment of sets of arrangements affecting the conduct of an organisation and its relationship with stakeholders. Specific issues examined in this unit include the legal framework; control and culture of the modern corporation; operations of a Board; role of board sub-committees; Boards and the development or endorsement of strategies; measuring and rewarding performance; corporate governance, financial reporting and disclosure; corporate governance and the audit process; governance within the global financial crisis.
ACCT3032 Current Issues in Management Accounting

Credit points: 6 Session: Semester 1 Classes: 1x 1hr lecture and 1x 2hr tutorial per week Assessment: In-class tests (20%), research presentation (20%), tutorial contribution (10%), and final examination (50%)
This unit builds on the fundamentals of management accounting practice (ACCT2012) by introducing a series of advanced management accounting topics such as strategic management accounting, accounting innovation, human resource management, social and environmental accounting and designing management accounting systems. In addition, this unit relaxes the hitherto held assumption that management accounting works in a world characterised by certainty and rationality and instead shows that management accounting more often operates in a world characterised by fuzziness and ambiguity. This real-world view requires students to develop their judgemental skills and to adopt a more critical and reflective approach that challenges their beliefs about how management accounting works in practice. This is a perfect subject for those students aspiring to become strategic consultants.