Accounting Principles

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.

  • Academic unit: Bond Business School
    Subject code: ACCT71-600
    Subject title: Accounting Principles
    Subject level: Postgraduate
    Semester/Year: September 2017
    Credit points: 10.000
  • Timetable: https://bond.edu.au/timetable
    Delivery mode: Standard
    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) - Study time and 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:

    Books

    • Nobles, Mattison, Matsumara, Best, Fraser, Tan & Willett (eBook or hardcopy) (2016). Horngren's Financial Accounting. 8th Ed, Pearson

    Others

    • Nobles, Mattison, Matsumara, Best, Fraser, Tan & Willett (eBook or hardcopy) 2016, Horngren's Financial Accounting, 8th Ed (2016). Pearson's My Accounting Lab. Pearson
    After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.
    iLearn@Bond & Email: iLearn@Bond 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
Academic unit: Bond Business School
Subject code: ACCT71-600
Subject title: Accounting Principles
Subject level: Postgraduate
Semester/Year: September 2017
Credit points: 10.000

Enrolment requirements

Requisites:

Nil
Assumed knowledge:

Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge.

No Prior Knowledge Required
Restrictions:

Nil

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)

Generative Artificial Intelligence in Assessment

The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.

  • Type Task % Timing* Outcomes assessed
    iLearn-based Examination (Closed) Final Examination 40% Final Examination Period 1,2,3,4,5,6,7
    Written Report Event Study 5% Week 2
    *Technical Skills Test Excel-based Test 15% Week 6 3,7
    Written Report Group Project (2 per group) 25% Week 12 1,2,3,5,6,7
    *Homework Exercise My Accounting Lab Homework 15% Weekly 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.

    Pass requirement

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

  • 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.

Type Task % Timing* Outcomes assessed
iLearn-based Examination (Closed) Final Examination 40% Final Examination Period 1,2,3,4,5,6,7
Written Report Event Study 5% Week 2
*Technical Skills Test Excel-based Test 15% Week 6 3,7
Written Report Group Project (2 per group) 25% Week 12 1,2,3,5,6,7
*Homework Exercise My Accounting Lab Homework 15% Weekly 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.

Pass requirement

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

Study Information

Submission procedures

Students must check the iLearn@Bond 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.

Academic Integrity

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.

Accessibility and Inclusion 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.

Additional subject information

Subject curriculum

Approved on: Jul 17, 2017. Edition: 3.2
Last updated: Oct 10, 2022