ACCTING 7019 - Accounting Concepts and Methods (M)

North Terrace Campus - Semester 1 - 2023

This course introduces students to the fundamentals of financial accounting practice. Students' understanding of key accounting concepts, recording and measuring methods, and disclosure requirements will be developed. There is a focus on understanding the conceptual framework principles which sets students up for success in later accounting courses. Students will learn the process of identification, measurement, recording and communication of financial information through general purpose financial reports using the accrual bases of accounting. Specific issues relating to inventory, non-current assets, liabilities, and equity are examined. Research skills are introduced and students will perform practical research on an Australian stock exchange listed company.

  • General Course Information
    Course Details
    Course Code ACCTING 7019
    Course Accounting Concepts and Methods (M)
    Coordinating Unit Accounting
    Term Semester 1
    Level Postgraduate Coursework
    Location/s North Terrace Campus
    Units 3
    Contact Up to 3 hours per week
    Available for Study Abroad and Exchange Y
    Incompatible ACCTING 7000
    Assessment Assignment, Research Project, Exam as prescribed in the first lecture
    Course Staff

    Course Coordinator: Dr Wei Li

    Adelaide Semester 1 Melbourne Semester 1
    Dr. Wei Li
    The University of Adelaide Business School
    Level 13, Room 13.31
    Pulteney StreetThe University of Adelaide, AUSTRALIA 5005
    Ph : +61 8 8313 0508
    Name: Rekha Prabagaran
    Adelaide Semester 2
    Dr. Yunyan Zhang
    The University of Adelaide Business School
    Level 13
    10 Pulteney Street
    The University of Adelaide, AUSTRALIA 5005
    Ph : +61 8 8313 6825
    Course Timetable

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

    Melbourne students only:
    • Students in this course are expected to attend two 1-hour lectures and one 2-hour practical (tutorial) class each week.
    • PRACTICALS (tutorials) commence in WEEK 2 and ASSESSMENT in practicals BEGINS in WEEK 2.
    • Please efer to MyUni for applicable timetable and assessment information.
  • Learning Outcomes
    Course Learning Outcomes

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

    1 Identify, measure, record and classify financial information for the purpose of preparing general purpose financial statements in accordance with the Conceptual Framework and Australian Accounting Standards.
    2 Conduct research of a practical nature by sourcing data and using basic analysis techniques to make informed judgements.
    3 Communicate accounting information and research findings in a professional manner.
    4 Use accounting software to process basic accounting transactions.
    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)

    Attribute 1: Deep discipline knowledge and intellectual breadth

    Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.


    Attribute 2: Creative and critical thinking, and problem solving

    Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.


    Attribute 3: Teamwork and communication skills

    Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.


    Attribute 4: Professionalism and leadership readiness

    Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.

    1 - 4

    Attribute 5: Intercultural and ethical competency

    Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.


    Attribute 6: Australian Aboriginal and Torres Strait Islander cultural competency

    Graduates have an understanding of, and respect for, Australian Aboriginal and Torres Strait Islander values, culture and knowledge.


    Attribute 7: Digital capabilities

    Graduates are well prepared for living, learning and working in a digital society.


    Attribute 8: Self-awareness and emotional intelligence

    Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.

  • 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, 7th Edition by Carlon, Mladenovic-McAlpine, Lee, Mitrione, Kirk and Wong.
    To increase your success in this course you should have WileyPlus associated with the text. From this link

    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.

    AASB Conceptual Framework and Standards:
    Other resources such as the Accounting Conceptual Framework and Accounting Standards will be provided on MyUni.

    Online Learning
    Many course resources are available on the course website:, including:
    • Lecture and tutorial documents;
    • Sample exams and suggested solutions; and
    • Assessment task related documents.
  • Learning & Teaching Activities
    Learning & Teaching Modes
    Design of this course is based on facilitating learning in an environment where you are actively engaged by applying abstract concepts to practical problems that are meaningful to you. By giving you a range of activities and time to reflect on what you have learnt you get the opportunity to build up a good understanding which you can demonstrate through assessment tasks at appropriate times throughout the semester. The course design has been well thought out to help you learn but it will only work if you put the effort in and work consistently throughout the semester. If you do work consistently there is no reason why you will not do well.

    There are four key activities:

    1. Pre-class activity – Preparation
    Each week you should read through the appropriate chapter of the text book before the lecture. Do this online by following the link in the weekly module on MyUni. Read the eBook and watch and do the interactive activities. These are often a series of slides and animations with audio which explain key concepts followed by something for you to do. You are not expected to be able to do activities 100% correctly at this stage but you should at least watch and attempt them as it will give you a broad overview of the weekly topic which enables you to get maximum benefit from the following lecture and tutorial time. After  reading the relevant chapter and activities you should also have a first attempt at the relevant online activity.

    2. In-class activities – Understanding
    Having completed the preparation you can come to the lecture and tutorial ready to actively listen and participate in discussion and activities. The lecturer or tutor will not need to labour the key terms, as they were covered in the preparation and minimal explanation should see you grasp these concepts. Examples will be worked through, questions asked and answered, concepts compared, discussed, and relationships formed with previous work. This will build up your body of knowledge and understanding.  All of the weekly material will be not be covered in each class. The activities are designed so that you can use the skills you have learnt to answer the remaining questions. A guide for students is provided at the end of each week to assist in your revision.

    3. Real World application – Consolidation
    Many of our examples use simplified data to enable understanding. The real test comes in applying the concepts you have learnt to real company annual reports. What this does is take an abstract concept demonstrated in simplified examples in the textbook and lectures/tutorials and illustrates that concept in its full complexity in a real world setting. You are given activities to do in the Research Project with real annual reports; such as finding key elements and calculating key ratios. Through applying your knowledge in this way, you will consolidate your understanding. The research project is a team activity. You should approach this as a “team” and work closely together to find the required information and discuss your annual reports. Much can be learnt through helping each other to discover items and through discussing concepts.

    4. Assessment - Demonstration
    At various points throughout the semester and ultimately at the end of semester you will complete assessment tasks. These are individual and team tasks and the final exam which gives you an opportunity to demonstrate that you have achieved the learning outcomes of the course. In addition, and most importantly, you get feedback and find out which concepts you are struggling with so that you can work on these areas.

    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.

    Learning Activities Summary
    1. An introduction to accounting (and introduction to the general purpose financial statements and the Conceptual Framework)
    2. The recording process
    3. Accrual accounting concepts
    4. Inventories and reporting and analysing inventory
    5. Reporting and analysing cash and receivables
    6. Mid-term exam
    7. Reporting and analysing non-current assets
    8. Reporting and analysing liabilities
    9. Accounting and analysing equity
    10. Cash flow statements
    11. Analysing and integrating GAAP (an in-depth look at the Conceptual Framework)

    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
    XERO accounting software exercise Week 7 5% 4
    Mid-term exam Week 6 15% 1, 3
    Research Project Week 8 (to be confirmed - see handout on MyUni) 20% 2, 3
    Final Examination Date to be confirmed - 3 hours 60% 1, 2, 3
    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
    XERO accounting software practice 5%
    This practice requires students create a XERO account for access to the Demo Company, process transactions using XERO and submit the required printed outputs.

    Mid-term exam 15%
    In the relevant week at a designated time you will get a mid-term exam, designed for you to test your knowledge of the previous weeks’ content. This exam will give you timely feedback on your level of understanding.

    Research Project 20%
    The research project brings together the key concepts that you have learnt in the early weeks of the course and allows you to demonstrate your knowledge in a real world context through the use of company annual reports. This project will be worked on in team of four (4) and should be approached as a “team” event. That is, everyone working together and helping each other to discuss the requirements and derive an outcome. An excellent project will be one that is presented in a professional manner, provides the information asked for, and is seamlessly put together and not dis-jointed. Extensive guidance will be provided on the project requirements.

    Final Exam 60%
    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. The exam will consist of multiple choice, problem based and written questions. Sample exams and suggested solutions will be provided on MyUni.
    Research Project

    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.

    The research project is submitted by one group member only via MyUni.

    Online submission confirms your 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.

    If practical requests for extensions should 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) may be penalised by 20% of the total assignment mark for each day that it is late. Requests for extensions after the due date must be made with supporting documentation by completing the Application for Assessment Extension form within seven (7) days of the task due date.  If possible an alternative time to complete the assessment will be negotiated. 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.

    Return of Assignments and Tests to students
    Online assessment tasks are marked automatically with results and feedback available on completion. We will aim to mark and return the research project to students within two (2) weeks of the due date with feedback. These will be marked online and available via MyUni.
    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.