ACCTING 7019 - Accounting Concepts and Methods (M)

North Terrace Campus - Semester 1 - 2017

This course introduces students to the fundamentals of financial accounting practice. It develops students' understanding of key accounting concepts, recording methods and measuring and disclosing requirements. Topics include an introduction to accounting information in decision contexts; regulatory framework; Conceptual Framework; financial statements; recording financial transactions, adjusting entries and the accounting cycle; inventory; cost of acquisition, depreciation, and revaluation of non-current assets; introduction to financial statement analysis; organisational structures (sole proprietors, partnerships, companies); and other selected issues relating to financial reporting standards.

  • General Course Information
    Course Details
    Course Code ACCTING 7019
    Course Accounting Concepts and Methods (M)
    Coordinating Unit Adelaide Business School
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 4 hours per week
    Available for Study Abroad and Exchange Y
    Corequisites COMMERCE 7033
    Incompatible ACCTING 7000
    Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture
    Course Staff

    Course Coordinator: Associate Professor Robyn Davidson

    Course Timetable

    The full timetable of all activities for this course can be accessed from Course Planner.

  • Learning Outcomes
    Course Learning Outcomes

    On successful completion of this course, students will be able to:

    1 Identify, measure, record and communicate financial information for the purpose of providing information in accordance with Australian Accounting Standards for economic decisions by users of financial statements.
    2 Analyse and interpret financial statement information for decision making purposes.
    3 Explain the purpose of, and factors which influence the content of, financial statements.
    4 Compare and contrast different business structures and relevant accounting practices.
    5 Communicate accounting information in a professional manner.
    6 Critically reflect on own learning.
    University Graduate Attributes

    This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

    University Graduate Attribute Course Learning Outcome(s)
    Deep discipline knowledge
    • informed and infused by cutting edge research, scaffolded throughout their program of studies
    • acquired from personal interaction with research active educators, from year 1
    • accredited or validated against national or international standards (for relevant programs)
    1 - 5
    Critical thinking and problem solving
    • steeped in research methods and rigor
    • based on empirical evidence and the scientific approach to knowledge development
    • demonstrated through appropriate and relevant assessment
    1 - 4
    Teamwork and communication skills
    • developed from, with, and via the SGDE
    • honed through assessment and practice throughout the program of studies
    • encouraged and valued in all aspects of learning
    1 - 5
    Career and leadership readiness
    • technology savvy
    • professional and, where relevant, fully accredited
    • forward thinking and well informed
    • tested and validated by work based experiences
    1 - 6
    Intercultural and ethical competency
    • adept at operating in other cultures
    • comfortable with different nationalities and social contexts
    • able to determine and contribute to desirable social outcomes
    • demonstrated by study abroad or with an understanding of indigenous knowledges
    Self-awareness and emotional intelligence
    • a capacity for self-reflection and a willingness to engage in self-appraisal
    • open to objective and constructive feedback from supervisors and peers
    • able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate
  • Learning Resources
    Required Resources

    Text Books:
    During this course we will be making extensive use of the electronic resources associated with the text:
    Financial Accounting, 5th Edition by Carlon, Mladenovic-McAlpine, Palm, Mitrione, Kirk and Wong. It is essential that you have WileyPlus associated with the text. From this link you can purchase the eText + WileyPLUS. Do not purchase just the eText or a secondhand text book - you must have Wiley Plus.

    Financial press:
    In this course, we may use articles from the financial press to illustrate the concepts discussed and for the research assignment. All major newspapers have a business section and many are currently on the internet. The Australian Financial Review is the most comprehensive financial newspaper in Australia.

    Use of the internet:
    Accounting Concepts and Methods (M) will make use of various internet sites which are accounting related. Access to the internet can be via the library or various computer pools located within the university.

    Online Learning
    Many course resources are available on the course website:, including:
    • Lecture and tutorial documents;
    • Sample exams and suggested solutions; and
    • Assessemnt task related documents.
  • Learning & Teaching Activities
    Learning & Teaching Modes


    Lectures will provide students with accounting concepts that underpin all accounting procedures, and give explanations and examples of analysing, recording, and summarising accounting information in formats suitable for users to make economic decisions. The material presented will be expanded and reinforced in tutorials the following week.


    Tutorial classes will be held weekly commencing Week 2. Each tutorial will be for two hours. Tutorial questions are included in the outline for each topic on MyUni and reinforce the material covered in the lecture the previous week, both as discussion questions and numerical questions. The tutorials include three types of questions:

    1. Questions to be prepared before class:

    These questions should be prepared before the tutorial and may be briefly discussed at the beginning of each session if students have any queries. Please note that tutors expect that you are prepared and will not provide detailed answers (solutions are available in your topic guide).

    2. Questions to be done in-class:

    These questions are done in-class, however to gain the most benefit you should prepare them before class. A summary of the key concepts/solutions will be provided for revision purposes after the tutorial.

    3. Self-study questions:

    Solutions to self-study questions are provided in the topic guide. These are extra questions provided for you to practice the relevant concepts.

    Tutorials are an important component of your learning in this course and you are strongly encouraged to participate. The communication skills developed in tutorials by regularly and actively participating in discussions are considered to be most important by the School and are highly regarded by employers and professional bodies.

    Members of tutorial classes is to be finalised by the end of the third week of semester (after the second tutorial). By week four (third tutorial) you should be attending your regular tutorial. This is important as you will be allocated into teams in week four so that you can work on the research project. 


    The information below is provided as a guide to assist students in engaging appropriately with the course requirements.

    The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that you are expected to commit approximately 9 hours for a three-unit course or 13 hours for a four-unit course of private study outside of your regular classes.

    Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.
    Learning Activities Summary
    Accounting Concepts and Methods (M) covers the topics outlined below:
    1. Accounting process, decision making process, users of accounting information, regulatory framework for external reports, forms of organisation, and the Conceptual Framework.
    2. Statement of Financial Position (Balance Sheet) and introduction to financial statement analysis.
    3. Measurement of Profit, Statement of Profit and Loss and Other Comprehensive Income (Income Statement), Statement of Cash Flows, and introduction to financial statement analysis.
    4. The recording of financial transactions, the accounting cycle, the debit and credit rules used in double entry accounting, and the Goods and Services Tax (GST).
    5. Adjusting the accounts, preparing financial statements and completing the accounting cycle.
    6. Accounting for Retailing.
    7. Accounting Systems (manual and computerized).
    8. Cash management and Cash Control.
    9. Accounting for Receivables. Accounting for Inventory.
    10. Accounting for Non-Current Assets (cost of acquisition, depreciation, subsequent costs, and revaluation; introduction to impairment test, intangible assets and goodwill).
    11. Accounting for partnerships and companies.

    An outline for each topic will be made available on MyUni.

  • Assessment

    The University's policy on Assessment for Coursework Programs is based on the following four principles:

    1. Assessment must encourage and reinforce learning.
    2. Assessment must enable robust and fair judgements about student performance.
    3. Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
    4. Assessment must maintain academic standards.

    Assessment Summary
    Test Week 7, time and place to be advised 20% 1, 2, 3, 4 and 5

    Research Assignment

    Sun 14th May 20% 1, 2, 3, 5 and 6
    Manual Practice Set Sun 28th May 10% 1, 2, 3 and 5
    Final Examination Date to be confirmed - 3 hours + reading time (10 minutes) 50% 1 to 5
    TOTAL 100%
    Assessment Related Requirements
    To gain a pass for this course, a mark of at least 50% must be obtained on the final examination as well as a total of at least 50% overall result.

    Students not achieving the minimum final examination mark will be awarded no more than 49 for the course.

    Assessment Detail
    Research Assignment 20%

    The research assignment forms the basis of the overall research component of the Master's degree. Students are required to demonstrate research and analytical skills in their assignment. The focus of the research assignment is the analysis of financial statements.  An introduction to the research project will be given in the first lecture, followed by various elements to be discussed in both lectures and tutorials. More details will be made available in a separate document on MyUni at the end of Week 3.

    Mid-Semester Test  20%

    An one-hour-and-15-minute test will cover Topics 1 to 5 inclusively. The test will be closed book. Students are not permitted to take a dictionary (English or English-Foreign) into the test.  The use of calculator that is incapable of storing text will be permitted.  Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted in the test because of poor hand-writing.

    A sample test with suggested answers will be available on MyUni.

    As part of the test, students must demonstrate research skills, explain underlying accounting concepts and apply these concepts to practical problems. Part of the test will include a 'short answer' question. During the second tutorial guidelines on how to answer a 'short answer' question will be discussed and practiced.

    Manual Practice Set  10%

    The Manual Practice Set requires students to record transactions for a period of one month for a fictitious company, and prepare financial statements at the end of the month.  It involves the manual recording of the transactions. This Manual Practice Set will be required to be completed online.

    Final Examination 50%

    There will be a three-hour examination covering all topics studied in the course. The examination will be closed book. Students are not permitted to take a dictionary (English or English-Foreign) into the examination.  The use of a calculator that is incapable of storing text is permitted in the examination. Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process.  Marks may be deducted because of poor hand-writing.

    If students are unable complete a test or submit an assignment within the specified time due to medical or compassionate grounds they should apply for an extension of time to the Course Coordinator before the due date.  An alternative time to complete the assessment will be negotiated. Any appropriate documentation should be provided at this time. The nature and form of the documentation to accompany a request for an extension must be in accordance with the instructions of the Modified Arrangements for Coursework Assessment (see below under 'Policies and Guidelines'). Students who fail to submit any piece of assessment and fail to provide adequate supporting documentation to the Course Coordinator will be awarded a score of zero for that component of the course assessment.
    Presentation of Assignment

    A copy of the Business School's Communication Skills Guide will have been given to you at the beginning of your program.  This guide will assist you to structure your assignments.  A copy of this guide can also be downloaded from  This publication also provides guidelines on a range of other important communication skills including how to write essays and management reports, making oral presentations, short anwer, etc. 

    In preparing any written piece of assessment for your postgraduate studies, it is important to draw on the relevant 'literature' to support critical analysis.  Also essential is to reference the literature used.  Correct referencing is important because it identifies the source of the ideas and arguments that you present, and sometimes the source of the actual words you use, and helps to avoid the problem of plagiarism. The Harvard System is widely used in the Business School. Guidelines for the use of this style of referencing can be found in the Communication Skills Guide.

    Please retain a copy of all assignments submitted.

    All components of the research assignment need to be submitted via Turnitin.

    Lecturers can refuse to accept assignments which do not have a signed acknowledgement of the University’s policy on plagiarism (refer below to the Academic Honesty Policy under 'Policies and Guidelines').

    Students must NOT submit work for an assignment that has previously been submitted for this course or any other course without prior approval from the lecturer-in-charge.

    Late Assignment Submission

    Students are expected to submit their work by the due date to maintain a fair and equitable system. Extensions will generally only be given for medical or other serious reasons.

    All requests for extensions must be emailed to the lecturer-in-charge of the course a minimum of 5 days before the due date. Each request will be assessed on its merits. A late assignment (without prior arrangement) will be penalised by 20% of the total assignment mark for each day that it is late.

    Return of Assignments and Tests to students

    Markers aim to mark and return assignments to students within two (2) weeks of the due date with feedback. For the assignments on Turnitin, marked assignments will be returned to students via Turnitin on MyUni.

    For hand-written tests, students are responsible for collecting their marked tests from their tutorial class in which they are officially enrolled. If not collected, the tests will be made available from Swot Vac week at the Professions Hub on the Ground floor, Nexus 10, until the end of semester. Thereafter, the remaining tests will be destroyed.
    Course Grading

    Grades for your performance in this course will be awarded in accordance with the following scheme:

    M10 (Coursework Mark Scheme)
    Grade Mark Description
    FNS   Fail No Submission
    F 1-49 Fail
    P 50-64 Pass
    C 65-74 Credit
    D 75-84 Distinction
    HD 85-100 High Distinction
    CN   Continuing
    NFE   No Formal Examination
    RP   Result Pending

    Further details of the grades/results can be obtained from Examinations.

    Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

    Final results for this course will be made available through Access Adelaide.

  • Student Feedback

    The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.

    SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy ( course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.

  • Student Support
  • Policies & Guidelines
  • Fraud Awareness

    Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.

The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.