21/07/2021 ACCT5001: 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_

ACCT5001: Foundation in Accounting

Overview


This unit provides an introduction to the generally accepted accounting principles and
practices underlying financial accounting and reporting. The unit introduces students to the
concepts and skills required to prepare, analyse, and interpret financial statements.

Details

Academic unit Accounting

Unit code ACCT5001

Unit name Foundation in Accounting

Session, year
  ? Semester 2, 2021

Attendance mode Normal day

Location Remote

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 1/11
21/07/2021 ACCT5001: Semester 2, 2021

Credit points 6

Enrolment rules

Prohibitions
  ? None

Prerequisites
  ? None

Corequisites
  ? None

Available to study Yes

abroad and
exchange students

Teaching staff and contact details

Coordinator Zhiyuan Tan,

simon.tan@sydney.edu.au

Assessment 

Type Description Weight Due Length

Final exam Final exam 50% Formal exam 2 hours

(Record+)
B
Online exam period

Outcomes assessed:
LO5
LO6
LO7
LO8
LO9
LO10

Assignment
Group Assignment 25% Multiple 2 x 3 hours
Online business cases weeks

Outcomes assessed:
LO1
LO10
LO9
LO7
LO6
LO5
LO4
LO3
LO2

Participation Tutorial participation 5% Ongoing 1.5 hours

Requirement to actively per week
participate in tutorials.

Outcomes assessed:
LO1
LO2
LO3
LO4
LO5
LO6
LO7
LO8
LO9
LO10

In-semester test In-semester exam 20% Week 08 1.5 hours

(Record+)
B Online exam

Outcomes assessed:
LO1
LO2
LO3
LO4
LO6
LO7

= hurdle task = group assignment B = Type B final exam

? ? ?
B = Type B in-semester exam
?

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 2/11
21/07/2021 ACCT5001: Semester 2, 2021

Tutorial participation

Students are required to attend tutorials and actively participate in discussions and quizzes.

Group assignment:

The group assignment involves case-based work to promote active and collaborative learning.
More specifically, it involves the completion of a business case in week 6 and week 13. Each
case is to be completed in a 3-hour timetabled session. The group assignment requires
students to apply critical thinking, work as team, and develop a deeper level of understanding
of financial accounting.

Mid-semester exam:

The mid-semester exam will cover the material from modules 1 to 6.

Final exam:

The final exam will cover the material from modules 7-12, although this will require background
knowledge and skills from modules 1 to 12. This assessment is listed as HURDLE TASK. An
assessment that is listed as HURDLE TASK means you must undertake the assessment 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 the student's academic transcript will show a
fail grade and the actual mark achieved if between 0-49 and a fail grade and 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
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 85 - Awarded when you demonstrate the learning outcomes for the unit at an
distinction 100 exceptional 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
Distinction75 - 84
very high 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
Credit 65 - 74
good standard, as defined by grade descriptors or exemplars outlined by
your faculty or school.

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 3/11
21/07/2021 ACCT5001: Semester 2, 2021

Result Mark
Description
name range

Awarded when you demonstrate the learning outcomes for the unit at an
Pass 50 - 64
acceptable standard, as defined by grade descriptors or exemplars
outlined by your faculty or school. 
When you don’t meet the learning outcomes of the unit to a satisfactory
Fail 0 - 49
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.

Weekly schedule


https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 4/11
21/07/2021 ACCT5001: Semester 2, 2021

Learning
WK Topic activity Learning outcomes

Week The role of accounting in decision making Lecture (1.5 LO1

LO2
LO6
01 hr)

Week Recording business transactions Lecture (1.5 LO2

LO3
02 hr)

The role of accounting in decision making Tutorial (1.5 LO1

LO2
LO6
hr)

Week The adjusting process Lecture (1.5 LO2

LO3
LO4
LO6
03 hr)

Recording business transactions Tutorial (1.5 LO2

LO3
hr)

Week Completing the accounting cycle Lecture (1.5 LO3

LO4
LO6
LO7
04 hr)

The adjusting process Tutorial (1.5 LO2

LO3
LO4
LO6
hr)

Week Retailing operations Lecture (1.5 LO2

LO3
LO5
LO7
05 hr)

Completing the accounting cycle Tutorial (1.5 LO3

LO4
LO6
LO7
hr)

Week Retail Inventory Lecture (1.5 LO2

LO5
LO6
LO7
06 hr)

Retailing operations Tutorial (1.5 LO2

LO3
LO5
LO7
hr)

Group assignment - Case 1 Workshop LO1

LO2
LO3
LO4
LO5
LO6
(3 hr) LO7

Week Accounting information systems and cash Lecture (1.5 LO1

LO2
LO7
LO8
LO10
07 control hr)

Retail Inventory Tutorial (1.5 LO2

LO5
LO6
LO7
hr)

Week Accounts receivable, and property, plant, Lecture (1.5 LO4

LO5
LO6
LO7
08 and equipment hr)

Accounting information systems and cash Tutorial (1.5 LO1

LO2
LO7
LO8
LO10
control hr)

Week Selected current and non-current Lecture (1.5 LO4

LO5
LO6
09 liabilities hr)

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 5/11
21/07/2021 ACCT5001: Semester 2, 2021

Learning
WK Topic activity Learning outcomes

Accounts receivable, and property, plant, Tutorial (1.5 LO4

LO5
LO6
LO7
and equipment hr)

Week Company formation and shareholders' Lecture (1.5 LO2

LO9
10 equity hr)

Selected current and non-current Tutorial (1.5 LO4

LO5
LO6
liabilities hr)

Week The cash flow statement (direct) Lecture (1.5 LO3

LO5
LO6
LO10
11 hr)

Company formation and shareholders' Tutorial (1.5 LO2

LO9
equity hr)

Week The cash flow statement (indirect) Lecture (1.5 LO3

LO5
12 hr)

The cash flow statement (direct) Tutorial (1.5 LO3

LO5
LO6
LO10
hr)

Week The cash flow statement (indirect) Tutorial (1.5 LO3

LO5
13 hr)

Group assignment - Case 2 Workshop LO1

LO2
LO3
LO4
LO5
LO6
(3 hr) LO7
LO9

Attendance and class requirements

Students are required to actively participate in tutorials.

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
The required weekly readings in this unit are from the following textbook:

Miller-Nobles, T., Mattison, B., Matsumura, E., Best, P., Tan, R., and Willet, R. (2020).
Horngren's Financial Accounting, 9th edition, Melbourne Australia, Pearson Australia.

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 6/11
21/07/2021 ACCT5001: Semester 2, 2021

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. Describe the importance, use and purpose of accounting and identify its users as well as
potential business, social, professional or ethical issues.
LO2. Process (identify, analyse, record, store and summarise) business transactions in the
accounting system during the accounting period (and at the end of the period).
LO3. Construct the data and prepare appropriately classified financial statements to report
financial performance for the period, financial position at the end of the period, changes in
equity, and a statement of cash flows for the period.
LO4. Identify and prepare end of period adjustments required in accordance with accounting
principles and accrual accounting.
LO5. Apply accounting principles, concepts, different methods and selected accounting
standards in accounting and reporting for specific assets, liabilities and owners' equity
elements.
LO6. Discuss relevant underlying conceptual principles, assumptions and/or accounting policy
choices on the preparation and decision usefulness of general purpose financial reports.
LO7. Analyse and interpret accounting information and reports to help make evaluations and
decisions about the entity.
LO8. Explain and demonstrate how the use of special journals and subsidiary ledgers can
improve the efficiency of a manual and computerised accounting system.
LO9. Distinguish a company from other forms of business structure, account for equity
transactions during the period, and report shareholders' equity at the end of the period.
LO10. Identify general internal control principles and demonstrate specific applications.

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.

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 7/11
21/07/2021 ACCT5001: Semester 2, 2021

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

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.

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 8/11
21/07/2021 ACCT5001: Semester 2, 2021

Additional information


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

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 20 Jul 2021.

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

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 9/11
21/07/2021 ACCT5001: Semester 2, 2021

Leadership for good starts here

Media Student links

News How to log in to University systems

Find an expert Key dates
Media contacts Class timetables
Policies

About us Connect

Our rankings Contact us

Faculties and schools Find a staff member
Centres and institutes Careers at Sydney
Campus locations Event calendar
Emergencies and personal safety

Member of

 Disclaimer
Privacy
 Accessibility
Website feedback



Follow us_

ABN: 15 211 513 464

CRICOS Number: 00026A
TEQSA: PRV12057

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 10/11
21/07/2021 ACCT5001: Semester 2, 2021

https://www.sydney.edu.au/units/ACCT5001/2021-S2C-ND-RE 11/11