1.1 Course Details

Course Code: ACCT2110

Course Title: Intermediate Financial Accounting

Coordinating Unit: School of Business

Semester: Semester 1, 2023

Mode: In Person

Level: Undergraduate

Delivery Location: St Lucia

Number of Units: 2

Contact Hours Per Week: LEC 2 Hours/ Week TUT 2 Hours/ Week

Pre-Requisites:

ACCT1110 or 2101 or 2112 or 2111

Incompatible: ACCT3102

Course Description: This course builds upon students' basic accounting knowledge to offer detailed insights into the challenges that arise from more complex financial transactions such as leasing arrangements, intangible assets, financial instruments, employee benefits and contingent liabilities. It is suitable for students who seek to better understand the measurement and recognition policy choices underlying financial statements including the balance sheet, income statement and statement of changes in equity.

Assumed Background:

A sound knowledge of topics covered in introductory accounting units is a necessary basis for satisfactory completion of this course.

Before attempting this course, students are advised that it is important to complete the appropriate prerequisite course(s) listed on the front of this course profile. No responsibility will be accepted by the School of Business, the Faculty of Business, Economics and Law or The University of Queensland for poor student performance occurring in courses where the appropriate prerequisite(s) has/have not been completed, for any reason whatsoever.

1.2 Course Introduction

The primary focus of ACCT2110 is the effect of accounting standards and other accounting regulations on disclosure in the published financial reports of Australian listed companies. The course also emphasises the relationship between accounting standards issued by the Australian Accounting Standards Board and accounting standards set by the International Accounting Standards Board. ACCT2110 requires detailed knowledge of the requirements of regulations affecting a range of topics that concern particular accounting transactions and/or particular industries. For each topic in the course the issues covered include particular recognition and measurement rules and any measurement choice allowed, specific accounting procedures and accounting concepts, disclosure in financial statements and disclosure in notes to financial statements. The course also examines recent research on the implications of the choices available to managers and the impact of financial reporting on capital markets.

Course Changes in Response to Previous Student Feedback

ACCT2110 Intermediate Financial Accounting is reviewed annually in response to student feedback and to ensure currency of content. For example, the assessment item was changed to an individual assignment (rather than forming part of the final exam) to better develop students' critical reasoning skills. Additionally, progressive assessment has been developed to provide students with early feedback and broader practical accounting experience.

1.3 Course Staff

1.4 Timetable

Additional Timetable Information

For ACCT2110, students should attend one 2-hour lecture and one 2-hour tutorial in each of the scheduled weeks.

Lectures (St Lucia):
Monday: 2:00 pm - 3:50 am (live via Zoom) 

Tutorials
Please check mySI-net for tutorial times. There are no tutorials in the first week of the semester. Each student is required to register (via MyTimetable) for one tutorial each week.

No tutorials are held on public holidays. All other tutorials will run as normal in these weeks. Students are welcome to attend an alternative tutorial if their regular tutorial is not available as a result of the public holiday. 

Please note: Teaching staff do not have access to the timetabling system to help with class allocation. Therefore, should you need help with your timetable and/or allocation of classes, please ensure you email [email protected] from your UQ student email account with the following details:

• Full name,
• Student ID, and
• the Course Code

5. Assessment

5.1 Assessment Summary

This is a summary of the assessment in the course. For detailed information on each assessment, see 5.5 Assessment Detail below.

COVID-19 IMPACTS: UQ will make every effort to teach and assess as outlined in this course profile. However, the ongoing impacts of COVID-19, including changes to Government health restrictions that may be implemented during the Semester, could result in changes to this course, including assessment. We continue to strive to ensure the learning activities for this course remain accessible to students as far as is practicable, so that the learning objectives can be met. For further information and ongoing updates see https://about.uq.edu.au/coronavirus/students.

5.2 Course Grading

Example criteria for each of the grades can be found in PPL 3.10.02 Assessment Procedures - section 7 Appendix.

-Grade 1, Low Fail: Absence of evidence of achievement of course learning outcomes:

-Grade 2, Fail: Minimal evidence of achievement of course learning outcomes:

-Grade 3, Marginal Fail: Demonstrated evidence of developing achievement of course learning outcomes:

-Grade 4, Pass: Demonstrated evidence of functional achievement of course learning outcomes:

-Grade 5, Credit: Demonstrated evidence of proficient achievement of course learning outcomes:

-Grade 6, Distinction: Demonstrated evidence of advanced achievement of course learning outcomes:

-Grade 7, High Distinction: Demonstrated evidence of exceptional achievement of course learning outcomes:

Other Requirements & Comments:

Grades will be allocated according to University-wide standards of criterion Based Assessment.

5.3 Late Submission

Late Submission of Assessment

Students applying for an extension to an assessment due date must submit a request, through my.UQ and provide evidence of their circumstances, as soon as it becomes evident that an extension is needed, but no later than the assessment item submission due date (specified in section 5.1 of the Electronic Course Profile (ECP).

Requests for extensions received after the assessment item submission due date must include evidence of the reasons for the late request, and will require the Deputy Director, Academic Services to accept the request for consideration.

• Supporting documentation such as a medical certificate, funeral notice etc. must be provided. Scanned or photographed copies should be attached to your email.
• For an application on medical grounds, the medical practitioner must not be a near relative or close associate. Examples of near relatives are partner, child, brother, sister, parent. Examples of close associates are close friends, neighbours and partners or children of colleagues.
• Extension criteria are applied consistently for equity reasons.
• You may discuss your situation with your course coordinator, but you still need to make a formal extension request.
• Applications on medical grounds will be approved for the number of calendar days the medical certificate indicates you were unfit for study. You are expected to act in a timely manner and must make an appointment as soon as your condition impacts on your ability to study. Only where sufficient explanation and evidence is provided will a medical certificate obtained after the submission due date be accepted.
• If you have a continuing condition you should contact Student Services to arrange a Student Access Plan (Disability) [SAPD]. You must still submit the application form.

Non-permissible circumstances
Extensions will not be granted where the School is not satisfied you took reasonable measures to avoid the circumstances that contributed to you not submitting by the due date.

The following are not grounds for an extension, including but not limited to:

• computer or internet problems;
• holiday arrangements (including overseas travel);
• misreading a due date or time;
• unexpected events causing the loss of a few hours of study time close to the due date;
• difficulty studying effectively or adjusting to the demands of university life;
• normal levels of stress or anxiety associated with study
• visa or financial problems
• ordinary family events or commitments; or
• normal pressures relating to study or employment.

The due dates for assignments must be adhered to and you are reminded to keep a copy of your work, in case of lost assignments or disputes over grading. 

You will incur penalties if your work is submitted late (i.e. after the due date, and without an approved extension).

Items (for which no extension has been granted) submitted after the due date and time, incur a late submission penalty. The penalty is at the rate of 10% of the total available marks for that particular piece of assessment, for each calendar day or part thereof that the item is overdue. The penalty once calculated is deducted from the marks awarded for the assessment. Assessment submitted more than 7 days after the due date will receive zero marks.

Late Submission of Exams

You will incur penalties if your online exam is submitted late (i.e. after the due date and without an approved extension).

Penalties will be applied to the final examination score for late submissions (unless there is sufficient evidence that the late submission was beyond the control of the student) as follows:

• For less than 5 minutes late: 5% penalty
• From 5 minutes to less than 15 minutes late: 20% penalty
• More than 15 minutes late: 100% penalty

• Penalties will be applied unless there is sufficient evidence that the late submission is beyond the control of the student.
• If students experience interruptions to their examinations, they are required to collect suitable evidence, e.g. screenshots, photos, or emails from AskUs and advise the course coordinator.

5.4 Other Assessment Information

Supplementary Assessment

Should you fail a course with a grade of 3, or a non-graded ‘N’, you may be eligible for supplementary assessment. Refer to my.UQ for information on supplementary assessment.

Supplementary assessment may not be available for all courses, or for some of the assessment items for a course. The highest grade you can receive following supplementary assessment is a 4 or P. Details of availability of supplementary assessment for this course are set out below.

Supplementary Assessment is available for this Course.

Refer to my.UQ for how to apply for supplementary assessment.

Supplementary assessment can take any form, for example, an oral or a written exam. Students who are eligible and approved for a supplementary assessment and the form of assessment is an examination, are expected to be available to sit the supplementary exam during the University’s Deferred and Supplementary examination period. Once approved, supplementary assessment cannot be rescinded by the student.

Other

ASSIGNMENT SUBMISSION

Unless otherwise advised by your course coordinator, all written assignments are to be electronically submitted using Blackboard (Learn) https://learn.uq.edu.au/. The instructions for submission below can also be found on the "Assessment" link in Blackboard. The online submission is in addition to any other submission requirements that appear in this ECP.

IMPORTANT: Online Submission

Ensure you receive a Turnitin submission ID, Digital Receipt, or Learn.UQ confirmation number, and retain this number as proof of submission. If you do not receive proof of submission, you should regard your submission as unsuccessful and take steps to address the issue. It is your responsibility to ensure the assignment has been successfully submitted. Any requests to waive the late submission penalty without proof of submission will not be considered under any circumstances.

The method of submission will be decided by your Course Coordinator, either Turnitin or Blackboard.
Upload your assignment using the relevant link created for your use.

INSTRUCTIONS FOR SUBMITTING YOUR ASSIGNMENT & CONFIRMING YOUR SUBMISSION

Comprehensive submission instructions can be found on the UQ Library website, in the Learn.UQ Assessment secttion.

• TurnItIn Submission Instructions
• Blackboard Assignment Submission Instructions

For individual and/or Team assessment items:
The assignment must be submitted electronically using the online submission link located in the Blackboard Assessment menu https://learn.uq.edu.au/.

FOR TEAM ASSIGNMENTS

• All team assignments must have ONE nominated representative's details at the top of the coversheet, with details of other team members listed on the lower section.
• Students should keep a list of their team members' full names and contact details.

REFERENCING AND CITING

• Assignments must be substantially your own work. If you wish to report another author's point of view you should do so in your own words, and properly in-text reference or footnote the reference in accordance with the school style. Direct quotations should be used sparingly, form a small part of your work, and must be placed in quotation marks and referenced correctly.
• Any material taken from texts and other references, including electronic resources, CD-ROMS, and the Internet, must be acknowledged using the accepted School style.
• Students are encouraged to discuss issues that arise in this course together, however, the written work you submit must be entirely your own. Similarly, you must not help another student to cheat by lending or sharing assessment (present or past).
• For more information on referencing styles, visit the library or see: https://web.library.uq.edu.au/research-tools-techniques/referencing/referencing-style-guides.
• If you do not reference correctly, you could be found guilty of academic misconduct. Please see this link for more information: https://my.uq.edu.au/information-and-services/manage-my-program/student-integrity-and-conduct/academic-integrity-and-student-conduct.

DEFERRED EXAMS