This subject is designed to provide a thorough grounding in accounting through emphasis upon aspects of financial reporting. It presupposes no prior knowledge of accounting and adopts the perspective of the user of financial statements to develop an understanding of the important financial reporting topics that all students of business and management should know. This subject will cover the basic financial statements used in financial reporting, the accounting cycle, the interrelationships between the financial statements, some contentious reporting issues, analysis and interpretation of financial statements. This subject has a very practical focus of current business issues that are analysed in the Macquarie Trading Room using a variety of online tools such as Bloomberg, Morningstar and Excel. The skills will be developed individually and within groups over the semester.
|Academic unit:||Bond University College|
|Subject title:||Accounting for Decision Making|
Delivery & attendance
|Prescribed resources:|| |
|[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 www.bond.edu.au
|Restrictions: ?|| This subject is not available to|
This subject is not available as a general elective. To be eligible for enrolment, the subject must be specified in the students’ program structure.
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.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Describe the key characteristics and regulatory environment of the three main different business structures.
- Demonstrate knowledge and application of routine accounting concepts and principles for recording business transactions using accrual accounting and the double entry system.
- Explain the purpose of financial statements in the context of using accounting information to evaluate business performance for decision-making purposes from the perspective of multiple stakeholders.
- Use accounting software to record business transactions.
- Demonstrate the ability to discuss and evaluate responsible business approaches.
- Explain and demonstrate important internal controls within a firm's operating environment.
- Prepare and interpret a Statement of Financial Position, Statement of Comprehensive Income and Statement of Cash Flows.
- Work cooperatively and contribute to action learning opportunities.
|*Online Quiz||Weekly Quizzes||15%||Weekly||1, 2, 3, 5, 7.|
|*Homework||Weekly Tasks||10%||Weekly||1, 2, 3, 4, 5, 6, 7, 8.|
|Written Report||Business Report (Individual)||25%||Week 6||1, 2, 3, 4, 5, 6, 7.|
|*Technical Skills Test||In-class Excel Test||20%||Week 9||2, 3, 4, 5, 7.|
|Paper-based Examination (Closed)||Final Examination||30%||Final Examination Period||1, 2, 3, 4, 5, 6, 7.|
- * 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.
|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.|
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.
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.
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.
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.
Additional subject information
Students are required to read the assigned materials, watch associated videos and revise prior week materials prior to each new week. Research tells us that students who prepare ahead of new content delivery find the learning objectives more interesting and better understand key concepts. Prior preparation also enables the instructor to teach the content at a higher level replacing content with action learning opportunities. It is a requirement that students must make a genuine attempt at all of the assessment items, regardless of the marks involved. Students who do not complete all of the assessment items will receive an 'Incomplete' grade. As part of the requirements for Business School quality accreditations, the Bond Business School employs an evaluation process designed 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.
Tools of the trade, basic concepts & business processes
Introduction to Business Reporting
Accounting for current and non-current assets (specifically property, plant and equipment).
Accounting for current and non-current liabilities, and accounting for share issues, dividends and other transactions impacting shareholder's equity.
Operating, investing and financing cash flows.
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.
Identifying differences between managerial and financial accounting.
How to prepare and analyse a master budget.
Calculating break-even points, profit planning and sensitivity analyses.
Reviewing the relevance of information in making decisions. Review of the course materials.
Final exam to be scheduled centrally.