27/07/2021 ACCT6001: Semester 2, 2021

Current students

During 2021 we will continue to support students who need to study remotely due to the ongoing
impacts of COVID-19 and travel restrictions. Make sure you check the location code when selecting a
unit outline or choosing your units of study in Sydney Student. Find out more about what these codes
mean. [https://www.sydney.edu.au/students/selecting-units-in-sydney-student.html#codes] Both
remote and on-campus locations have the same learning activities and assessments, however teaching
staff may vary. More information about face-to-face teaching and assessment arrangements for each
unit will be provided on Canvas.

Unit of study_

ACCT6001: Intermediate Financial Reporting

Overview


This unit provides an understanding of the contemporary Australian financial reporting environment.
Particular attention is paid to accounting theory and concepts, mandatory reporting practices and reporting
policies that reflect either a choice from among several mandated alternatives, or those areas where
regulation has not occurred. The unit is intended for those who will be involved in the preparation or use of
company financial statements. The unit provides an understanding of accounting techniques, both in terms of
technical method and their relative impact on a corporation's financial statements. The emphasis throughout
is on both the 'techniques' and the related explanations for their use.

Details

Academic unit Accounting

Unit code ACCT6001

Unit name Intermediate Financial Reporting

Session, year   ? Semester 2, 2021

Attendance mode Normal day

Location Remote

Credit points 6

Enrolment rules

Prohibitions   ? None

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Prerequisites   ? ACCT5001

Corequisites   ? None

Available to study Yes

abroad and
exchange students

Teaching staff and contact details

Coordinator Xiaojiao Jo Wang, [email protected]

Assessment 

Type Description Weight Due Length

Final exam (Record+) B Final exam 50% Formal exam period 2 hours
Closed book exam covering Units
1-12

Outcomes assessed: LO1 LO2 LO3 LO4 LO5

Assignment Individual assignment 20% Week 07 1000

Written assignment Due date: 20 Sep 2021 words
Closing date: 30 Sep
2021

Outcomes assessed: LO2 LO3 LO4 LO5 LO1

In-semester test (Record+) Mid-semester exam 30% Week 08 1.5 hours

B Closed book exam covering topics
1-6

Outcomes assessed: LO1 LO2 LO3 LO4 LO5

= hurdle task B = Type B final exam B = Type B in-semester exam

? ? ?

Mid semester test:  The mid semester test will covers Topics 1-6 inclusive. It will be a closed book exam.
Individual assignment : This task requires students to demonstrate their capacity to interpret, analyse
and discuss the implications of accounting standards/regulations as they relate to contemporary
financial reporting issues. Students will be given a current accounting issue and they will be asked to
explore the impact this has on accounting standard setting and/or reporting practice. 
Final exam: The final exam will cover the material from topics 1-12 inclusive. The final exam is a closed
book examination. The final exam is a HURDLE TASK which means you must undertake the exam and
achieve a mark above a minimum standard. Students who fail to achieve this minimum standard in this
assessment, even when their aggregate mark for the entire unit is above 50%, will be given a Fail grade
for the unit. As a result a student's academic transcript will show a Fail grade with the actual mark
achieved if between 0-49 and a Fail grade with a capped moderated mark of 49 for all other marks. The
hurdle mark for this assessment is 45%.

Detailed information for each assessment can be found on Canvas.

Assessment criteria
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The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high
standard, a credit a good standard, and a pass an acceptable standard.

Result Mark
Description
name range

High Awarded when you demonstrate the learning outcomes for the unit at an exceptional
85 - 100
distinction standard, as defined by grade descriptors or exemplars outlined by your faculty or
school. 
Awarded when you demonstrate the learning outcomes for the unit at a very high
Distinction 75 - 84
standard, as defined by grade descriptors or exemplars outlined by your faculty or
school.
Credit 65 - 74 Awarded when you demonstrate the learning outcomes for the unit at a good standard,
as defined by grade descriptors or exemplars outlined by your faculty or school.
Awarded when you demonstrate the learning outcomes for the unit at an acceptable
Pass 50 - 64
standard, as defined by grade descriptors or exemplars outlined by your faculty or
school. 
Fail 0 - 49 When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

Late submission
In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on
the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Special consideration
If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if
you have essential commitments which impact your preparation or performance in an assessment, you may
be eligible for special consideration or special arrangements.

Academic integrity
The Current Student website provides information on academic honesty, academic dishonesty, and the
resources available to all students.

The University expects students and staff to act ethically and honestly and will treat all allegations of
academic dishonesty or plagiarism seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic
dishonesty. If such matches indicate evidence of plagiarism or other forms of dishonesty, your teacher is
required to report your work for further investigation.

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Weekly schedule


Learning Learning
WK Topic activity outcomes

Week Introduction and Australia financial reporting environment Lecture (3  

01 hr)

Week Measurement: Choice of accounting methods Lecture (3  

02 hr)

Week Accounting for property, plant and equipment Lecture (3  

03 hr)

Week Accounting for intangible assets Lecture (3  

04 hr)

Week Accounting for leases Lecture (3  

05 hr)

Week Ethics in accounting Lecture (3  

06 hr)

Week Revenue Lecture (3  

07 hr)

Week Provisions and contingent liabilities and introduction to accounting Lecture (3  

08 for income taxes hr)

Week Accounting for income taxes Lecture (3  

09 hr)

Week Accounting for financial instruments Lecture (3  

10 hr)

Week Equity-preference shares and compound financial instruments Lecture (3  

11 hr)

Week Future Directions and Specific Accounting Issues for Extractive Lecture (3  
12 Industries hr)

Week Review Lecture (3  

13 hr)

Study commitment
Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units
of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of
student effort in total.

Prescribed readings
Henderson, S., Pierson, G., Herbohn, K., Artiach, T., and Howieson, B. (2017). Issues in Financial Accounting
(16th ed.). Melbourne, Australia: Pearson

Details of prescribed readings can be found on Canvas.

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Learning outcomes


Learning outcomes are what students know, understand and are able to do on completion of a unit of study.
They are aligned with the University’s graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

LO1. apply appropriate accounting standards to produce information for financial reporting purposes.
LO2. read and interpret basic financial reports.
LO3. analyse financial reporting practice and accounting choices.
LO4. demonstrate knowledge of contemporary financial reporting issues within the profession, the standard
setting bodies, and the financial press.
LO5. critique financial reporting practice and its implications for users.

Graduate qualities
The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on
successful completion of an award course. As a future Sydney graduate, the set of qualities have been
designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding
and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving
practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order
to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a
solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner
that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate,
create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness
Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across
and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres
Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

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Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices,
working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between
one’s personal and professional selves in an ethical context.

GQ9 Influence
Engaging others in a process, idea or vision.

Outcome map

Learning Graduate qualities

outcomes GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

Closing the loop 

No changes have been made since this unit was last offered.

Additional information 

More information can be found on Canvas.

Business School Policies

Maths in Business Workshops
Peer-Assisted Study Sessions (PASS)

Key dates Student administration

Key dates through the academic year, including Enrolment, course planning, fees, graduation,
teaching periods, census, payment deadlines and support services, student IT
exams.

Expectations of student conduct Academic appeals

Code of Conduct for Students, Conditions of Academic appeals process, special consideration,
Enrollment, University Privacy Statement, rules and guidelines, advice and support
Academic Integrity

Learning and teaching policy Financial support

Policy register, policy search Scholarships, interest free loans, bursaries, money
management

Study resources Health and support

Learning Centre, faculty and school programs, Student Centre, counselling & psychological
Library, online resources services, University Health Service, general health
and wellbeing

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Disclaimer
The University reserves the right to amend units of study or no longer offer certain units, including
where there are low enrolment numbers.

This unit of study outline was last modified on 23 Jul 2021.

To help you understand common terms that we use at the University, we offer an online glossary.

Leadership for good starts here

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