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ACCT71-600: Accounting Principles January 2018 [Standard]

General information

This subject provides an introduction to generally accepted accounting principles and practices. The subject adopts a 'user' perspective. That is, it focuses on using information produced by the accounting system in business decision-making. Consequently, the subject provides an essential component in the curriculum of all business students. Topics are also covered in ample depth to provide a solid foundation for potential accounting practitioners.

Changes due to Commonwealth Games: The University has marginally altered the timetable for the January semester of 2018 (181) to ensure that students have the opportunity to engage with the Commonwealth Games to be held in April 2018. The modified timetable has been designed to not impact on overall subject or program learning outcomes. Some subjects may be delivered in a slightly modified mode to accommodate the change. Specific arrangements will be included on the iLearn site for each subject. All changes to the class schedule have the full approval of University and Academic Unit administration and will not adversely affect student learning or assessment.


Academic unit:Bond Business School
Subject code:ACCT71-600
Subject title:Accounting Principles
Subject level:Postgraduate
Semester/Year:January 2018
Credit points:10

Delivery & attendance

Delivery mode:


Workload items:
  • Computer Lab: x12 (Total hours: 24) - Seminar 1
  • Computer Lab: x12 (Total hours: 24) - Seminar 2
  • Personal Study Hours: x12 (Total hours: 72) - Recommended study time & reviewing materials
Attendance and learning activities: Attendance at ALL sessions is a requirement. Attendance of classes is compulsory and will be monitored. Non-attendance could impact on the final mark in this subject. The tasks completed within classes will be assessed periodically and contribute to your final grade. All sessions build on the work of the previous one and it is difficult to recover if you miss a session. Students are expected to notify the instructor of any absences. The course commences on Monday of Week 1. Students are required to attend both classes in Week 1 when an introduction to the course and teaching and learning strategies will set the foundation for the rest of the semester. University Policy: A student who has an unsatisfactory attendance record or who performs poorly at progressive assessment tasks may be identified as being in need of support under the COR 4.01 Student Support Policy.


Prescribed resources:
  • Nobles, Mattison, Matsumara, Best, Fraser, Tan & Willett (eBook or hardcopy) (2016). Horngren's Financial Accounting. 8th Ed, Pearson
  • Nobles, Mattison, Matsumara, Best, Fraser, Tan & Willett (eBook or hardcopy) 2016, Horngren's Financial Accounting, 8th Ed (2016). Pearson's My Accounting Lab. [Online Textbook Supplement] Pearson.
After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.
[email protected] & Email:[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.

To access these services, log on to the Student Portal from the Bond University website as

Enrolment requirements

Requisites: ?


Restrictions: ?


Assurance of learning

Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.

At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.

Program Learning Outcomes (PLOs)

Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:
  1. Discuss and evaluate the three main different business structures within diverse business, social and regulatory contexts. (Graduate Attributes - 1 & 4)
  2. Explain the purpose of financial statements and demonstrate the ability to critically evaluate and communicate accounting information for decision making purposes from a multiple stakeholders perspective. (Graduate Attributes - 1 & 3)
  3. Integrate theoretical and technical knowledge of routine accounting concepts and principles to record business transactions using accrual accounting and the double entry system. (Graduates Attributes - 1)
  4. Ability to record and analyse business transactions. (Graduate Attribute - 1)
  5. Demonstrate the ability to discuss and evaluate responsible business approaches.(Graduate Attributes 1, 3 & 4)
  6. Explain and demonstrate important internal controls within a firm's operating environment.(Graduate Attributes 1, 3 & 4)
  7. Prepare, analyse and interpret a Statement of Financial Position, Statement of Comprehensive Income and Statement of Cash Flows.(Graduate Attributes - 1 & 3)


Assessment details

TypeTask%Timing*Outcomes assessed
Homework Exercise My Accounting Lab Homework 15% Weekly 3, 4, 5, 6, 7.
Written Report Event Study 10% Week 3 2, 5.
Technical Skills Test Excel-based Test 15% Week 6 3, 7.
Written Report § Group Project (2 per group) 20% Week 12 1, 2, 3, 5, 6, 7.
Computer-Aided Examination (Closed) Final Examination 40% Final Examination Period 1, 2, 3, 4, 5, 6, 7.

Pass requirement

Students must pass the exam components (average of mid semester and final exam) to pass the course.

  • § Indicates group/teamwork-based assessment
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Assessment criteria

High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.
Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.
Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.
Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment.
Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.

Quality assurance

For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.

Study information

Submission procedures

Students must check the [email protected] subject site for detailed assessment information and submission procedures.

Policy on late submission and extensions

A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.

Policy on plagiarism

University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.

Bond University utilises Originality Reporting software to inform academic integrity.

Feedback on assessment

Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.

Disability support

If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.

Subject curriculum

Tools of the trade, basic concepts & business processes

Introduction to the double entry system of accounting to capture business transactions and produce financial statements

The end of period adjusting and closing process for accrual accounting

Accounting for retailing operations (selling goods) and perpetual and periodic inventory systems

Safeguarding a business’s assets and accounting for bad debts

Revision of topics 1-5

Tools and techniques to assist in analysing and interpreting information contained in financial statements

Accounting for non-current assets, specifically property, plant & equipment and intangibles

Accounting for current and non-current liabilities, and analysing owner's equity

The importance of cash, cash flow, and the statement of cash flow, preparation of the CFS, reconciling profit with cash from operations

Social issues, TBL reporting, GRI, balanced scorecard

Making business decisions and revision of course materials

Approved on: Nov 2, 2017. Edition: 3.3
Last updated: Dec 12, 2017.