KING’S OWN INSTITUTE* Success in Higher Education ACC701 FINANCIAL ACCOUNTING T319 All information contained within this Subject Outline applies to all students enrolled in the trimester as indicated....

KING’S OWN INSTITUTE*
Success in Higher Education
ACC701 FINANCIAL ACCOUNTING T319
All information contained within this Subject Outline applies to all students enrolled in the trimester as indicated.
1. General Information
1.1 Administrative Details
Associated HE Award(s) Duration Level Subject Coordinator
Graduate Diploma of Business
Master of Accounting
Master of Professional Accounting
1 trimester Postgraduate Patricia Vakafua
XXXXXXXXXX
P: XXXXXXXXXX
L: Level 1, 545 Kent St.
Consultation: via Moodle or by
appointment

1.2 Core/Elective
This is a core subject for the Master of Accounting and the Master of Professional Accounting and elective
subject for the Graduate Diploma of Business.

1.3 Subject Weighting
Indicated below is the weighting of this subject and the total course points.
Subject Credit Points Total Course Credit Points
XXXXXXXXXX4 GDBus 32; MAcc 48; MPA 64
1.4 Student Workload
Indicated below is the expected student workload per week for this subject
No. Timetabled Hours/Week* No. Personal Study
Hours/Week**
Total Workload Hours/Week***
4 hours/week
(2 hour Lecture + 2 hour Tutorial)
6 hours/week 10 hours/week
* Total time spent per week at lectures and tutorials
** Total time students are expected to spend per week in studying, completing assignments, etc.
*** Combination of timetable hours and personal study.

1.5 Mode of Delivery On-campus

1.6 Pre-requisites ACC700 Principles of Accounting

1.7 General Study and Resource Requirements
o Students are expected to attend classes with the weekly worksheets and subject support material
provided in Moodle. Students should read this material before coming to class to improve their ability to
participate in the weekly activities.
o Students will require access to the internet and their KOI email and should have basic skills in word
processing software such as MS Word, spreadsheet software such as MS Excel and visual
presentation software such as MS PowerPoint.
o Computers and WIFI facilities are extensively available for student use throughout KOI. Students are
encouraged to make use of the campus Li
ary for reference materials.
Resource requirements specific to this subject: Students should have a non-programmable calculator.
Applications in smart phones will not be sufficient to perform the required calculations in class.
ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 1 OF 13
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A

Approved by KOI Academic Board for T3 2019
mailto: XXXXXXXXXX
ACC701

2. Academic Details

2.1 Overview of the Subject

This subject introduces students to special topics relating to Australian financial reporting with an
emphasis on recognition and measurement of assets and liabilities. It comprehensively covers a
number of Australian-International Financial Reporting Standards relevant to reporting problems in
particular areas (such as cash flows and revenue), and with reference to particular types of assets and
liabilities (such as intangible assets, share-based payments, leases and complex financial instruments).
In addition, the expanded disclosure is reviewed along with various proposals for strengthening external
financial reporting.

2.2 Graduate attributes for postgraduate courses
Graduates of Postgraduate courses from King’s Own Institute will gain the graduate attributes expected
from successful completion of a Master’s degree under the Australian Qualifications Framework (2nd
edition, January XXXXXXXXXXGraduates at this level will be able to apply an advanced body of knowledge in a
ange of contexts for professional practice or scholarship and as a pathway for further learning.

King’s Own Institute’s key generic graduate attributes for a master’s level degree are summarised
elow:

Across the course, these skills are developed progressively at three levels:
o Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply
them in stand-alone contexts
o Level 2 Intermediate – Students further develop skills, theories and techniques of the subject and
apply them in more complex contexts, beginning to integrate the application with other subjects.
o Level 3 Advanced – Students have a demonstrated ability to plan, research and apply the skills,
theories and techniques of the subject in complex situations, integrating the subject content with a
ange of other subject disciplines within the context of the course.
KOI Master’s Degree Graduate
Attributes
Detailed Description

Knowledge Cu
ent, comprehensive and coherent knowledge, including recent developments and applied research methods

Critical Thinking
Critical thinking skills to identify and analyse cu
ent theories
and developments and emerging trends in professional
practice

Communication
Communication and technical skills to analyse and theorise,
contribute to professional practice or scholarship, and present
ideas to a variety of audiences

Research and Information Literacy
Cognitive and technical skills to access and evaluate
information resources, justify research approaches and
interpret theoretical propositions
Creative Problem Solving Skills
Cognitive, technical and creative skills to investigate, analyse
and synthesise complex information, concepts and theories,
solve complex problems and apply established theories to
situations in professional practice

Ethical and Cultural Sensitivity
Appreciation and accountability for ethical principles, cultural
sensitivity and social responsibility, both personally and
professionally

Leadership and Strategy
Initiative, leadership skills and ability to work professionally and
collaboratively to achieve team objectives across a range of
team roles
Expertise in strategic thinking, developing and implementing
usiness plans and decision making under uncertainty

Professional Skills High level personal autonomy, judgement, decision-making and accountability required to begin professional practice
ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 2 OF 13
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A

Approved by KOI Academic Board for T3 2019
ACC701
2.3 Subject Learning Outcomes
Listed below, are key knowledge and skills students are expected to attain by successfully completing
this subject:
Subject Learning Outcomes Contribution to Course Graduate Attributes
a) Explain and apply the concepts and regulations relating to
financial accounting in accounting settings
) Articulate measurement issues related to the covered topics; and
locate and implement the disclosure requirements related to the
covered topics
c) Identify and solve financial accounting problems by applying
analytical and problem solving techniques
d) Demonstrate technical competence in the relevant complex areas
of accounting where measurement and recognition judgements
need to be made.

2.4 Subject Content and Structure

Below are details of the subject content and how it is structured, including specific topics covered in
lectures and tutorials. Reading refers to the text unless otherwise indicated.

Weekly Planner:
Week
(beginning)
Topic Covered in Each Week’s
Lecture

Reading(s) Expected work as listed in Moodle
1
04 Nov
Accounting regulation and the
conceptual framework Loftus: Ch. 1
Tutorial exercises as listed
in Moodle
2
11 Nov Statement of cash flows
Loftus: Ch. 17
AASB 107 Tutorial exercises
3
18 Nov Revenue
Loftus: Ch. 15
AASB 15 Tutorial exercises
4
25 Nov Intangible assets
Loftus: Ch. 6
AAS8 138 Tutorial exercises
5
02 Dec Employee benefits
Loftus: Ch. 9
AASB 119 Tutorial exercises
6
09 Dec Mid trimester test
Assignment review
Mid trimester exams
7
16 Dec Share-based payments
Loftus:
Ch. 14
AASB 2
Tutorial exercises
22 Dec 2019
–
05 Jan 2020
Mid trimester
eak
8
06 Jan Leases
Loftus:
Ch. 10
AASB 16
Tutorial exercises
9
13 Jan Financial instruments Part I
Ch. 11
(pp XXXXXXXXXX)
AASB 7, 9, 132
Case study due
Defe
ed mid trimester
exams - see Section 2.6
elow for more information
10
20 Jan Financial instruments Part II
Loftus:
Ch. 11
(pp XXXXXXXXXX)
AASB 7, 9, 132
Tutorial exercises
ACC701 FINANCIAL ACCOUNTING T319 22/10/2019 16:47 PAGE 3 OF 13
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A

Approved by KOI Academic Board for T3 2019
ACC701

11
27 Jan Earnings per share
Loftus:
Ch. 19
AASB 133
Tutorial exercises
12
03 Feb Revision lecture Revision exercises
13
10 Feb Study Review Week
14
17 Feb Final Exam Week
Please see exam timetable for exam date, time
and location
15
23 Feb
Student Vacation begins
Enrolments for T120 open
16
02 Mar
Results Released 04 Mar 2020
Certification of Grades 07 Mar 2020
T120 begins 09 Mar 2020
1
09 Mar
Week 1 of classes for T120
Friday 06 Mar 2020 – Review of Grade Day for T319 – see Sections 2.6 and 3.6
elow for more information.

2.5 Public Holiday Amendments

Please note: KOI is closed on all scheduled NSW Public Holidays.

T319 has one (1) public holiday (Australia Day) that occurs during classes this trimester. Classes
scheduled for this public holiday (Calendar Class Dates) will be rescheduled as per the table below.

This applies to all subjects taught in T319.

Please see the table below and adjust your class timing as required. Please make sure you have
a
angements in place to attend the rescheduled classes if applicable to your T319 enrolment.

Classes will be conducted at the same time and in the same location as your normally scheduled class
except these classes will be held on the date shown below.

Calendar Class Date Rescheduled Class Date
Monday 27 January 2020 (Week
11)
Monday 10 Fe
uary 2020 (Week 13) (Study Review Week)

2.6 Review of Grade, Defe
ed Exams & Supplementary Exams/Assessments

Review of Grade:

There may be instances when you believe that your final grade in a subject does not accurately reflect
your performance against the subject criteria