ACCTING 7019 - Accounting Concepts and Methods (M)

North Terrace Campus - Summer - 2016

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 Summer
    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: Ms Cathryn Harris

    Course Timetable

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

    Tuesdays 1.10 pm to 4.00 pm
    Napier 208 Lecture Theatre

    Thursdays 1.10 pm to 4 pm
    Napier 209 Lecture Theatre
  • Learning Outcomes
    Course Learning Outcomes
    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:
    Hoggett, J., Medlin, J., Edwards, L., Chalmers, K., Hellmann, A., Beattie, C., and Maxfield, J. (2015), Financial Accounting, 9th Edition, John Wiley & Sons.

    Accounting Manual Practice Sets – Further information will be provided at a later date.

    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 mid-semester test with suggested answers; and
    • Research Assignment and Manual Practice Set related documents.
    In addition, students will be able to purchase access to WileyPLUS, an online resource accompanying the text book. Please note that this is an optional tool and students are not required to purchase the WileyPLUS version of the textbook.

  • Learning & Teaching Activities
    Learning & Teaching Modes

    Each three hour session 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 with in-class questions and problems that can be done individually or in groups during the three hour session. This will be further reinforced with set homework that will be discussed prior to the start of the next topic. There are also self-study questions and problems for which the solutions will be available on MyUni. Students are encouraged to complete these questions in their own time and to check their answers. These will only be discussed if requested by students for clarification of specific issues.

    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 summer semester.
    Learning Activities Summary
    Accounting Concepts and Methods (M) covers the topics outlined below. Topics include: accounting information in its decision making context; accounting systems and the accounting cycle; external financial reports; accounting for assets; different organisational structures; and financial statement analysis.

    The schedule of lecture topics for the course is as follows:

    TOPIC                                    READING - TEXT
     Jan 5 Accounting and decision making, regulatory framework for external reports and forms of organisation and the conceptual framework. Chapter 1, pp. 2 – 15; Chapter 2, pp. 34 – 35, 37 - 38 and 44 - 47; Chapter 8, pp. 343 – 347; Chapter 9, pp. 378 – 382; Chapter 10, pp. 430 – 436 and 438 - 448; and Chapter 17, pp. 717 – 722.
    Jan 7 Statement of Financial Position and introduction to financial statement analysis. Chapter 2, pp. 38 – 40; Chapter 10, pp. 449 – 451 and 452 - 453; Chapter 17, pp. 725 – 727; and Chapter 19, pp. 830 - 835, 840 - 841 and 843 - 844.
    Jan 12 Measurement of profit, Statement of Comprehensive Income and Statement of Cash Flows and analysis and interpretation of the two statements. Chapter 10, pp. 451 – 457; Chapter 17, pp. 723 – 725; Chapter 18, pp. 751 – 774 and 792 - 794, and Chapter 19, pp. 836 - 840, 842 - 843, and 844 - 846.
    Jan 14 Recording financial transactions. Chapter 2, pp. 48 – 52, Chapter 3, and Appendix Chapter 3, pp. 108-110.
    Jan 19 Adjusting entries and the accounting cycle. Chapter 4 and Chapter 5
    Jan 21 Accounting for retailing. Chapter 6
    Jan 26 Manual and computerised accounting systems. Chapter 7
    Jan 28 Cash management and control. Chapter 11
    Feb 2 Accounting for receivables and Accounting for inventory. Chapter 12 and Chapter 13
    Feb 4 Accounting for non-current assets. Chapter 14, pp. 601 - 621 and Chapter 15, pp 638-648 and pp.653-659.
    Feb 9 Accounting for partnerships and companies. Chapter 8, pp. 344 - 359 and Chapter 9, pp. 378 – 382, and 385 – 408.
    Feb 11 Overview and summary
    Feb 15 to Feb 19 Final Examination Period

  • 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
    Assessment Due Date and time Weighting Related Learning Outcome
    Research Project

    Part 1

    Part 2
    Friday January 15, 5 pm

    Friday February 12, 5 pm
    7 %

    8 %
    1, 2, 12 and 15.
    Held in lecture time.
    Thursday January 28
    15 % 1,2,3,4,5,6,7,and 8
    Practice Set:
    Formative and Summative
    Friday February 19, 5 pm 10 % 6,7,8,9,10
    Final Examination
    3 hours
    To be confirmed 60% All
    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
    The assessment components are as follows:

    Research Assignment: 15%

    The research assignment consists of two parts and forms the basis of the overall research component of the Masters degree. The focus of the research assignment is financial statement analysis. An introduction to the research project will be given in the first lecture. Various elements of financial statement analysis will be included in both lectures and set questions and problems. Additional essential reading material will be available on MyUni.

    The research project requires students to demonstrate research and analysis skills in their assignments.

    The first part of the research assignment is an individual assignment; the second part is conducted as a group assignment. All documents must be submitted via Turnitin.

    For more detail about the research project, please refer to material provided to you throughout the semester.

    Test: 15%

    A one and half hour class test will be held during Topic 8 (Thursday, January 28). The test will be held in lecture time. It will cover Topics 1 to 5. A sample test with suggested answers will be available on MyUni.

    As part of the test, students must explain underlying accounting concepts and apply these concepts to practical problems. Part of the test includes a short answer question. This must be answered using the short answer format as specified in the Business School 'Communication Skills Guide' guidelines:

    During the lecture on Topic 2 guidelines on answering short answer questions will be discussed. 

    Practice Set: 10%

    The 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 assignment will be required to be completed online.

    Final Exam: 60%
    There will be a three (3) hour examination. The examination covers all of the topics studied in the course. A sample examination and the suggested answers will be available on MyUni. Please note that a minimum mark of 50% for the examination needs to be obtained in addition to an overall mark of 50% to gain a pass for this course.

    Notes on Assessment

    In this course, students’ continuing assessment will be assessed using specific guidelines and marking criteria determined by the lecturers-in-charge. The marking criteria will be discussed prior to the commencement of marking. Before the assessment is returned to students, a sample of students' assessment will be reviewed to determine if moderation is needed.

    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 mid-semester test and the final examination because of poor hand-writing.

    Students in this course are not permitted to take a DICTIONARY (English or English-Foreign) into the examination. In this course, the use of a calculator that is incapable of storing text is permitted in the examination.

    Assignment Guidelines including Referencing Details

    A copy of the Postgraduate Programs: Communication Skills Guide will have been given to you at the beginning of your program. This guide will assist you structure your assignments. A copy of the guide can also be downloaded from:

    This publication also provides guidelines on a range of other important communication skills including writing essays and management reports, making oral presentations 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. (Further information on plagiarism is provided later in this course outline.)
    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.

    Further assistance with referencing is available from the Faculty’s Learning Support Advisors. The contact details are provided on page 6 of the Communication Skills Guide.
    Presentation of Assignments

    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 (

    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 lecturers-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

    Markers aim to mark and return assignments to students within two (2) weeks of the due date with written feedback. Marked research assignments will be returned to students 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.