16129 Forensic Trust Accounting
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Credit points: 6 cp
Subject level:
Undergraduate
Result type: Grade and marksRequisite(s): 16264 Property Accounting and Financial Management
These requisites may not apply to students in certain courses. See access conditions.
Description
This subject incorporates the assimilation of accounting and governance principles with an emphasis on trust accounting under the relevant statutory and regulatory requirements. Students develop trust accounting skills and knowledge to accurately maintain the appropriate financial records. Students are introduced to analytical and critical thinking skills with regards to fraud detection.
Subject learning objectives (SLOs)
On successful completion of this subject, students should be able to:
| 1. | identify the accounting principles that relate to trust accounting |
|---|---|
| 2. | identify the difference between the trust account and the office account |
| 3. | learn to complete the books of real estate agency trust accounting records for journals, ledgers and trial balance |
| 4. | learn how to prepare a bank reconciliation and verify the adjustments on a reconciliation |
| 5. | identify the various governance requirements for trust accounts under relevant legislation |
| 6. | learn how to analyse and critically evaluate trust accounts |
| 7. | learn how to apply investigative skills for fraud detection |
| 8. | learn how to validate data for indicators of fraud |
| 9. | develop and manage an effective investigation plan within the relevant statutory and regulatory requirements. |
Teaching and learning strategies
Block classes on campus incorporating studio workshops/tutorials/online resource learning and online tutorials. The learning activities in this subject include problem-based learning, practical exercises, and case study exam questions.
TUTORIALS
Tutorial workshops connect the practical application of content theory with practice. Tutorial discussion supports understanding of subject content and allows students to experience peer and tutor feedback, facilitating valid opportunities to reflect on their learning in real-time. Online tutorials are accessible through UTSOnline.
ONLINE RESOURCES
There are a number of online resources used to support the learning objectives of this subject, including online tutorials. Such resources are located at UTSOnline. A detailed overview of subject material and information on associated tasks and assessment items are included in the online subject documents. Also online are essential and recommended readings and case studies. Significantly, the readings support subject content by providing students with an overview of theory associated with the wide-ranging body of knowledge related to trust accounting. Emphasis will be placed on independent student interaction with online tutorials as well as prereading of subject material to facilitate greater understanding of each topic.
PROBLEM-BASED LEARNING
The curriculum uses problem-based learning activities to provoke participatory discussions and encourage professional approaches. Case study scenarios present authentic industry specific issues for discussion and analysis. Practical exercises based on case studies together with primary and secondary literature enhance problem solving appropriate to the subject matter.
ASSESSMENT
Content knowledge in this subject is assessed in the form of a written test and formal examination. Such assessments test high level analysis skill and understanding of formulae and regulation related to trust accounting.
FEEDBACK
Students will have several opportunities to receive feedback during the subject. The feedback provided will vary in form, purpose and in its degree of formality:
Formative feedback will be provided during the learning process, typically provided verbally during tutorial sessions. It is designed to help students improve their performance in time for their first class test and then the final exam. In addition, self-assessment feedback is available for the student at the completion of each topic with graded resources available within the recommended text. Where appropriate, supplementary questions and solutions will be available via UTSOnline. Students are required to respond constructively to the feedback provided in the online tutorial sessions and workshops. This involves critically reflecting on discussion of subject content. Formative feedback may also, on occasion, be provided by other students. It is delivered informally, either in conversation during a tutorial or in the course of discussion at the scale of the whole class. It is the student’s responsibility to record any feedback given during meetings or studio sessions.
Summative feedback is provided in written form with all assessed work. Summative feedback focuses on assessment outcomes. It is used to indicate how successfully a student has performed in terms of specific assessment criteria.
Content (topics)
- Introduction to Trust Accounting
- Property Management Trust Accounting
- Sales Trust Accounting
- Forensic Trust Accounting
- Trust Bank Reconciliations
- Governance
- White Collar Crime
- Property Stock and Business Agents Act & Regulations
Assessment
Assessment task 1: Class Test
| Intent: | To assess specific subject content knowledge. | ||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 1, 2, 3 and 5 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): .1 and .6 | ||||||||||||||||||||
| Type: | Examination | ||||||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||||||
| Weight: | 40% | ||||||||||||||||||||
| Length: | 2 hours open book class test | ||||||||||||||||||||
| Criteria: | Assessment criteria will be provided in additional assessment information. | ||||||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Assessment task 2: Final Exam
| Intent: | To assess comprehensive knowledge of subject content. | ||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Objective(s): | This task addresses the following subject learning objectives: 3, 4, 6, 7, 8 and 9 This task also addresses the following course intended learning outcomes that are linked with a code to indicate one of the five CAPRI graduate attribute categories (e.g. C.1, A.3, P.4, etc.): .2 and .6 | ||||||||||||||||||||||||||||
| Type: | Examination | ||||||||||||||||||||||||||||
| Groupwork: | Individual | ||||||||||||||||||||||||||||
| Weight: | 60% | ||||||||||||||||||||||||||||
| Criteria: | Assessment criteria will be provided in additional assessment information. | ||||||||||||||||||||||||||||
| Criteria linkages: |
SLOs: subject learning objectives CILOs: course intended learning outcomes |
Recommended texts
Real Estate Trust Accounting,
8th Edition, 2016, Hera Antoniades
ISBN 978-0-958527484
Refer to the canvas platform for this subject for the details relating to the bookshop stocking the text book