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Unit outline_

BUSS1030: Accounting, Business and Society

Semester 1, 2020 [Normal day] - Camperdown/Darlington, Sydney

This unit investigates the fundamentals of accounting and aims to provide a broad understanding of the role of accounting in the context of business and society. The format of the unit is designed to show that there are many uses of accounting data. The focus moves from accountability to decision making; both functions are explained through examples such as the 'double entry equation', and from an output (financial statements) perspective. Some more technical aspects of accounting are outlined, including the elements of assets, liabilities, revenues and expenses within simple, familiar scenarios. Besides developing an understanding of the role of accounting via conventional financial reports, recent developments including the discharge of accountability by companies through the release of corporate social and environmental reports and the global financial crisis, are explored through an accounting lens.

Unit details and rules

Academic unit Accounting
Credit points 6
Prerequisites
? 
None
Corequisites
? 
None
Prohibitions
? 
ACCT1001 or ACCT1002 or ACCT1003 or ACCT1004 or ACCT1005
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Paul Blayney, paul.blayney@sydney.edu.au
Type Description Weight Due Length
Final exam hurdle task Final exam
Written exam
60% Formal exam period 3 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Online task Assignment task 1
Practical assessment
20% Multiple weeks n/a
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
Online task Assignment task 2
Practical assessment
20% Week 12
Due date: 18 May 2020 at 11:59

Closing date: 18 May 2020
n/a
Outcomes assessed: LO1 LO2 LO3 LO4 LO5
hurdle task = hurdle task ?

Assessment summary

  • Assignment task 1: MyAccountingLab (MAL) requires online posting of responses to assigned tutorial questions. Responses must be entered into MyAccountingLab by Monday 12 pm unless otherwise announced. Responses to the assigned questions must be posted in designated weeks.
  • Assignment task 2: Please note that the submission deadline for this assessment is 11:59 a.m. 18 May 2020.  Late submissions NOT accepted.
  • Final exam: This closed-book exam will cover topics from the entire unit of studyThe final exam is listed as having a HURDLE TASK which means you must complete the assessment and achieve at least 45% of the available marks in this assessment in order to pass the unit. Students who fail to achieve this minimum standard, 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 the final mark of the unit is between 0-49 and a Fail grade and a capped moderated mark of 49 for all other final mark.

Replacement exams: The Business School has determined that second replacement exams will not be offered for this unit of study should a student submit two special considerations for the same exam as this unit forms part of the professional accounting accreditation pathway. Should a student be granted a replacement exam via special consideration, and is then unable to attend or does not complete the replacement exam, any subsequent special consideration will result in a DC grade (Discontinue Without Fail).

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Distinction

75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Credit

65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Pass

50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

This unit has an exception to the standard University policy or supplementary information has been provided by the unit coordinator. This information is displayed below:

Late work not accepted.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Use of generative artificial intelligence (AI) and automated writing tools

You may only use generative AI and automated writing tools in assessment tasks if you are permitted to by your unit coordinator. If you do use these tools, you must acknowledge this in your work, either in a footnote or an acknowledgement section. The assessment instructions or unit outline will give guidance of the types of tools that are permitted and how the tools should be used.

Your final submitted work must be your own, original work. You must acknowledge any use of generative AI tools that have been used in the assessment, and any material that forms part of your submission must be appropriately referenced. For guidance on how to acknowledge the use of AI, please refer to the AI in Education Canvas site.

The unapproved use of these tools or unacknowledged use will be considered a breach of the Academic Integrity Policy and penalties may apply.

Studiosity is permitted unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission as detailed on the Learning Hub’s Canvas page.

Outside assessment tasks, generative AI tools may be used to support your learning. The AI in Education Canvas site contains a number of productive ways that students are using AI to improve their learning.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

WK Topic Learning activity Learning outcomes
Week 01 Introduction to accounting Lecture and tutorial (3 hr)  
Week 02 Key accounting concepts Lecture and tutorial (3 hr)  
Week 03 Business transactions Lecture and tutorial (3 hr)  
Week 04 Business transactions Lecture and tutorial (3 hr)  
Week 05 Cash management and internal control Lecture and tutorial (3 hr)  
Week 06 Statement of financial position Lecture and tutorial (3 hr)  
Week 07 Statement of financial performance Lecture and tutorial (3 hr)  
Week 08 Statement of cash flows Lecture and tutorial (3 hr)  
Week 09 Analysis and interpretation of financial statements Lecture and tutorial (3 hr)  
Week 10 Cost behaviour and cost volume profit analysis Lecture and tutorial (3 hr)  
Week 11 Costing Lecture and tutorial (3 hr)  
Week 12 Budgeting Lecture and tutorial (3 hr)  
Week 13 Revision and practice exam Lecture and tutorial (3 hr)  

Attendance and class requirements

Lecture recordings: All lectures and seminars are recorded and will be available on Canvas 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.

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Required readings

All readings for this unit can be accessed through the Library eReserve, available on Canvas.

1. Atrill, McLaney and Harvey (2018), Accounting for Business Students,  Pearson.

  • Week 1: Chapter 1 (LO1 to LO8)
  • Week 2: Chapter 2 (LO1 to LO3)
  • Week 3 and 4: Chapter 4: LO3, LO4, LO5 (excluding bad debts and inventory), LO7, LO8
  • Week 5: Chapter 5 (LO1, LO7)
  • Week 6: Chapter 2 (LO1 to LO7)
  • Week 7: Chapter 3 (LO1 to LO4, LO7, LO8)
  • Week 8: Chapter 8: (LO1 to LO3, LO6)
  • Week 9: Chapter 10 (LO1 to LO7)
  • Week 10: Chapter 11 (LO1 to LO4)
  • Week 11: Chapter 12 (LO1, LO2, LO4)
  • Week 12: Chapter 13 (LO1 to LO5, LO7)

Please note that the learning outcomes (LOs) of the readings are the learning outcomes stated in the textbook.

2. Razeed, Blayney, Hamilton-Jessop and Gouveros (2015), The Integrated Accounting Narrative, Pearson.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. demonstrate an understanding of the role of accounting in business decision-making through the analysis and interpretation of accounting information
  • LO2. prepare and use conventional financial reports - statement of financial position, statement of financial performance and cash flow statements
  • LO3. apply accounting concepts and techniques to new contexts and scenarios
  • LO4. analyse and critically interpret accounting information to inform everyday business decisions
  • LO5. develop technical competency in accounting skills/techniques to demonstrate their application in business contexts and scenarios.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

No changes have been made since this unit was last offered.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.