220788 Accounting Practices and Tools
Warning: The information on this page is indicative. The subject outline for a
particular session, location and mode of offering is the authoritative source
of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.
Subject handbook information prior to 2024 is available in the Archives.
Credit points: 3 cp
Subject level:
Postgraduate
Result type: Grade and marksRequisite(s): 210954c Sustainable Enterprise in Dynamic Systems
The lower case 'c' after the subject code indicates that the subject is a corequisite. See definitions for details.
These requisites may not apply to students in certain courses. See access conditions.
Anti-requisite(s): 22747 Accounting for Managerial Decisions AND 22788 Accounting Practices and Tools
Description
This subject offers solid financial accounting and management accounting grounding to candidates. This knowledge allows candidates to understand the financial opportunities and challenges inherent in any business endeavor. Candidates will subsequently better understand the position and performance of initiatives undertaken in the context of the broader strategies and objectives of an organisation. Such an understanding will help candidates make critical cost-benefit trade-offs.
Subject learning objectives (SLOs)
| 1. | investigate and analyse financial statements in practice |
|---|---|
| 2. | apply financial ratios for purposes of understanding and synthesizing business position and performance |
| 3. | apply a range of management accounting techniques to generate and evaluate complex ideas and concepts to improve decision making |
Contribution to the development of graduate attributes
The subject introduces students to a range of accounting practices, tools and techniques, and how these can be applied to address complex business challenges and opportunities. Students will further apply the gained knowledge and skills in the studio-type subjects.
This subject is aligned with the following Graduate Attribute(s):
- Professional and technical competence
Teaching and learning strategies
Orientation activities
Preparation for the Session - students are expected to undertake activities prior to the first week. These activities (approximately two hours in duration) include online readings, videos (database searching) and interaction with peers and are important in helping students prepare for the subject’s Assessment Tasks. This also provides students with an opportunity to meet and interact with peers.
Students will learn through independent learning activities, group work, peer review, and participation in collaborative online sessions through the learning management system.
Independent learning activities
Relevant readings, videos and activities will be made available online relevant to the topic of the week. Students are expected to come to the collaborative online sessions prepared. This will enhance the students’ ability to progress successfully throughout the subject and complete assessment items effectively. The online material aims to enhance students’ understanding of the topic or delve deeper into a more specific area. Information and links to all these learning activities can be accessed via Canvas as well as the subject outline.
Online collaborative sessions
The online collaborative sessions will provide opportunities for group activities and discussion, self-assessment, peer review and formative feedback from the subject facilitator. Online collaborative sessions will be conducted at a time that enables the majority of students to contribute.
Feedback
Feedback will be frequent and takes several forms including self-assessment and peer review. Formative feedback throughout the subject aims to increase student performance at summative assessments.
Content (topics)
- Financial statements – Profit and Loss Statement and Balance Sheet
- Financial statements – Cash flows
- Analysing position and performance next to strategy – strategic ratio analysis
- Understanding and budgeting fixed and variable costs in organisations
- Cost Volume Profit Analysis
- Relevant costing and tactical pricing
Assessment
Assessment task 1: Performance and ratio analysis and insights (Individual)
| Objective(s): | This addresses subject learning objective(s): 1 and 2 |
|---|---|
| Weight: | 50% |
| Length: | There is no formal word-count. However, concise writing, and focusing your report on interesting aspects of the business is valued. Graphs and figures are a great way to illustrate financial ratio trends (a picture tells a thousand words). |
| Criteria: |
|
Assessment task 2: Case analysis (Individual)
| Objective(s): | This addresses subject learning objective(s): 1, 2 and 3 |
|---|---|
| Weight: | 50% |
| Length: | Students are required to complete the questions related to the case study in the provided document. There is no formal word-count. |
| Criteria: |
|
Minimum requirements
Students must achieve at least 50% of the subject’s total marks.
Required texts
There is no required textbook. Resources will be made available through the learning management system as required.
References
Birt, J., Keryn Chalmers, Suzanne Maloney, Albie Brooks, Judy Oliver, David Bond (2020) Accounting: Business Reporting For Decision Making 7th Edition, Wiley.
Carlon, S., Rosina McAlpine-Mladenovic, Chrisann Palm, Lorena Mitrione, Ngaire Kirk, Lily Wong, (2016) Financial Accounting: Reporting, Analysis and Decision Making 5th Edition.
Wiley Hoggett, J., Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield (2015) Accounting, 9th Edition, Wiley.