Year
2024Credit points
10Campus offering
Prerequisites
Nil
Incompatible
ACCT100 Introduction to Accounting ,BUSN104 Money Matters
Teaching organisation
150 hours over a twelve-week semester or equivalent study period.
Unit rationale, description and aim
Without knowledge of ethical accounting and financial analysis skills the business world could collapse. This unit will provide a non-specialist grounding in accounting and financial management so that you can appreciate the financial dimensions of decisions within business. Moreover, the unit considers corporate social responsibility within the context of financial management and sustainability in the promotion of stewardship for social good. The unit will enable you to understand the impact of economic transactions on a business’ financial and operating capability as well as to recognise the use of accounting information in decision making without getting bogged down in the mechanics of the system. Building on this, you will develop fundamental financial planning and forecasting skills so that you can utilise these skills in life or in business. The aim of this unit is to introduce accounting and financial management skills in a non-technical way so you will be able to develop financial and accounting literacy as a life skill.
Learning outcomes
To successfully complete this unit you will be able to demonstrate you have achieved the learning outcomes (LO) detailed in the below table.
Each outcome is informed by a number of graduate capabilities (GC) to ensure your work in this, and every unit, is part of a larger goal of graduating from ACU with the attributes of insight, empathy, imagination and impact.
Explore the graduate capabilities.
| Learning Outcome Number | Learning Outcome Description | Relevant Graduate Capabilities |
|---|---|---|
| LO1 | Explain the importance of accounting and its role in decision making by various users and understand the importance of corporate social responsibility in the context of the common good, the environment and society | GC1, GC6 |
| LO2 | Recognise types of organisational structures and functional and operational areas including concepts for authority delegation and how these integrate an organisation’s governance framework and the rights and responsibilities of stakeholders that ensure ethical professional values | GC1, GC7 |
| LO3 | Show knowledge of communication theory and information literacies by applying relevant knowledge, skills and judgement for business and academic audiences | GC1, GC9, GC11 |
| LO4 | Measure the effect of recording basic business transactions and other events for different types of business that report financial position and performance using the principles of the duality of accounting and digital literacies | GC2, GC10 |
| LO5 | Analyse aspects of the global environment as well as cost behaviour and their drivers along with the risk management approach of an organisation towards international trade and finance considering internal and external factors that influence the strategy of an organisation | GC2, GC8 |
Content
Topics will include:
- Organisational structures and operations
- Business strategy and planning
- Measuring and reporting accounting information
- Corporate social responsibility and ethical professional values
- Communication and information literacies
- Corporate governance
- Fundamental finance and risk
- Cost behaviour analysis
Learning and teaching strategy and rationale
This unit takes an active learning approach to guide students in the analysis and synthesis of knowledge associated with managing money and finances. Students can explore the knowledge base through online learning material and a series of workshops. These workshops are designed to support students to actively participate in the construction and synthesis of this knowledge both individually and in groups. By participating in these workshops, students will systematically develop their understanding of the how and why management is critical to the achievement of sustainable business outcomes. This unit takes an experiential approach to support students by tapping into the knowledge of other participants, sharing stories and insights and reflecting on experiences. This approach is designed to interest students who prefer to learn within a social environment. The following resources will be accessible to students online:
- unit outline
- notices/announcements; assessment information, submission, marking and return of results/feedback; learning resources (readings, direction to further sources of online information, lecture slides, audio and video recorded material); interactive online self-study activities and quizzes.
Mode of delivery: This unit is offered in multimode to cater to the learning needs and preferences of a range of participants and maximise effective participation for isolated and/or marginalised groups.
Further to this, to ensure students are ready to transition from the Diploma and articulate into the second year of undergraduate study, transition pedagogies will be incorporated into the unit as the key point of differentiation from the standard unit. This focuses on an active and engaging approach to learning and teaching practices, and a scaffolded approach to the delivery of curriculum to enhance student learning in a supportive environment. This will ensure that students develop foundation level discipline-based knowledge, skills and attributes, and simultaneously the academic competencies required of students to succeed in this unit.
Assessment strategy and rationale
To pass this unit, students must demonstrate competence in all learning outcomes and achieve an aggregate mark of at least 50%. Marking will be in accordance with a rubric specifically developed to measure students’ level of achievement of the learning outcomes for each item of assessment. Students will also be awarded a final grade which signifies their overall achievement in the unit.
Assessment is an integral part of the learning process. Assessment tasks in this unit are aimed at measuring and developing student’s achievement of both the learning outcomes and graduate attributes noted above. In this unit there are multiple forms of formative assessment for a student to assess their progress against the learning objectives as well as three (3) main pieces of summative assessment. Students will progressively be submitting assessment tasks during the study period, to receive feedback from each to feed forward into their next task.
Strategies aligned with transition pedagogies will be utilised to facilitate successful completion of the unit assessment tasks. For each assessment, there will be the incorporation of developmentally staged tasks with a focus on a progressive approach to learning. This will be achieved through activities, including regular feedback, particularly early in the unit of study to support their learning; strategies to develop and understand discipline-specific concepts and terminology; in-class practice tasks with integrated feedback; and greater peer-to-peer collaboration.
Overview of assessments
| Brief Description of Kind and Purpose of Assessment Tasks | Weighting | Learning Outcomes | Graduate Capabilities |
|---|---|---|---|
Assessment 1: Written opinion editorials Students will evaluate data and information from a variety of sources and perspectives and apply critical thinking skills to explain the importance of accounting and an organisation’s governance framework and how corporate social responsibility and sustainability are integrated. Students are also required to formally communicate how accounting can be used to promote ethical professional values. Submission Type: Individual Assessment Method: Written opinion editorial (1000 words) Artefact: Opinion Editorial | 25% | LO2, LO3, LO4, LO5 | GC1, GC6, GC7, GC9, GC11 |
Assessment 2: Engagement This assessment focusses on the level co-creation of value by students whether on campus or online. Students will be assessed based on their continuous engagement and collaborative participation to the unit via a range of methods including, but not limited to tasks, activities, and discussions. Submission Type: Individual Assessment Method: Written and verbal evidence of value co-creation Artefact: Assessor generated summary as per rubric | 30% | LO1, LO2, LO4, LO5 | GC1, GC2, GC6, GC7, GC8, GC10 |
Assessment 3: Online assessment This is an online assignment in which students will solve and answer problem-based and/or case-study based scenarios using various accounting concepts/techniques to demonstrate how varying economic events, strategies, and financial planning and control affect organisational performance. Submission Type: Individual Assessment Method: Online assignment Artefact: Submitted answer | 45% | LO4, LO5, LO6 | GC2, GC8, GC10 |
Representative texts and references
Attrill, P McLaney, E, Harvey, D, Cong, M. 2024. Accounting: An Introduction and Finance for Non-Specialists, 2nd edn, Pearson, Melbourne.
Birt, J, Chalmers, K, Maloney, S, Brooks, A, Oliver, J & Bond D 2023, Accounting: Business reporting for decision making, 8th edn, John Wiley and Sons, Milton.
Dwyer, J 2020, Communication for business and the professions: Strategies and skills, 7th edn, Pearson, Melbourne.
Hoggett, J, Medlin, J, Chalmers, K, Beattie, C, Hellmann, A & Maxfield J 2020, Accounting, 11th edn, John Wiley & Sons, Milton.
Nobles, T, Mattison, B, Matsumura, E, Best, P, Fraser, D, Tan, R & Willett, R 2021, Accounting, 9th edn, Pearson, Melbourne.