ANU College of Business and

Economics

Research School of Accounting

Business Information Systems

Mail

Building 26C
Australian National University
Canberra ACT 0200

Building 21
Australian National University
Canberra ACT 0200

Student Office

Room 2.01 (Level 2)

ANUCBE Building 26C

Room 2037 (Level 2)

Hanna Neumann Building 21

Phone:

1300 732 120 (local call cost only)

+61 2 6125 3807

02 6125 0025
+61 2 6125 0025

International

02 6125 0744
+61 2 6125 0744

02 6125 4310
+61 2 6125 4310

Email:

info.cbe@anu.edu.au

enquiries.ABIS@anu.edu.au

Within Australia

International
Fax:

Within Australia

BUSN 7008
Financial Statements and Reporting
Course Description
This course is designed as an introductory accounting course for graduate students, and
provides an introduction to the concepts underlying external financial reporting. The unit
utilises a transaction-effect approach to the preparation of financial statements. The course
examines the main financial statements produced by an accounting system and the process
by which these statements are prepared. The course covers fundamental issues relevant to
the use of accounting information as a decision aid. Contents include accounting concepts,
double entry and accrual systems of accounting, financial statements preparation and
analysis. There are no prerequisites that need to be satisfied. The course assumes no
previous knowledge of accounting.
Semester and Year
Course URL

S2 2014

Mode of Delivery
Prerequisites

On campus
There are no prerequisites that need to be satisfied. The course
assumes no previous knowledge of accounting.

Incompatible Courses

With BUSN1002 Accounting Process and Systems and

BUSN8181 Financial Reporting and Analysis. Students who have
previously studied accounting are encouraged to seek exemption
for BUSN7008 and substitute a higher level accounting course.

Course Convener
Tutors
Office Location:
Phone:
Email:
Consultation hours:
Student
Administrators

Dr. Lijuan Zhang

To be advised
Room 3.19 CBE Building (26C)
61257379
Lijuan.zhang@anu.edu.au
To be advised
HN 2037 Hanna Neumann Bldg 21
enquiries.abis@anu.edu.au
6125 0025 or 6125 7968
Office hours : Monday -Friday
9am 5pm

http://wattle.anu.edu.au/course/BUSN7008

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&

COURSE OVERVIEW
Course Learning Outcomes
Upon successful completion of the requirements for this course, students will be able to:

identify the main users of financial accounting reports, and the main purpose for
which information is used;

distinguish between cash and accrual accounting;

distinguish between assets, liabilities, equity, income and expense;

prepare journal entries, post to ledger accounts, and calculate closing balances,
prepare a trial balance, prepare adjusting, reversing and closing entries to collate
corporate financial information;

develop the knowledge and ability to prepare the financial statements for
organisations characterised by moderately complex financial transactions;

Analyse financial statements with regard to key aspects of performance.

Research-Led Teaching
Students are encouraged to engage with contemporary financial accounting literature as part
of their course participation and learning activities. ANU provides world class library facilities
so that students have the best access to high quality peer reviewed literature: http:
//anulib.anu.edu.au/
Continuous Improvement
We use feedback from students, professional bodies and staff to make regular
improvements to the course. In response to this feedback, design improvements from the
previous version of the course include:

More in-lecture practice activities

More real world examples

More active learning in tutorial class

Student Feedback
All CBE courses are evaluated using Student Experience of Learning and Teaching (SELT)
surveys, administered by Planning and Statistical Services at the ANU. These surveys are
offered online, and students will be notified via email to their ANU address when surveys are
available in each course. Feedback is used for course development so please take the time
to respond thoughtfully. Course feedback is anonymous and provides the Colleges,
University Education Committee and Academic Board with opportunities to recognise
excellent teaching and to improve courses across the university. For more information on
student surveys at ANU and reports on feedback provided on ANU courses, visit
http://unistats.anu.edu.au/surveys/selt/students/
and
http://unistats.anu.edu.au/surveys/selt/results/learning/

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COURSE SCHEDULE
Week Week
Summary of Activities
beginning
Lecture: Introduction
1
21 Jul
2

28 Jul

4 Aug

11 Aug

18 Aug

25 Aug

1 Sep

22 Sep

29 Sep
Public
Holiday:
th
Mon 29

10

6 Oct
Public
Holiday:
th
Mon 6

11

13 Oct

12

20 Oct

Reading: Chapter1
No tutorial
Lecture: The recording process
Reading: Chapter 2
Tutorial : Introduction
Lecture : Adjusting the accounts
Reading: Chapter 3
Tutorial: The recording process
Lecture: Accounting systems and processes
--Adjusting the accounts
--Completing the accounting cycle
Reading: Chapter 3&4
Tutorial: Adjusting the accounts
Lecture: Accounting for Inventories
Reading: Chapter 5&6
Tutorial: Accounting systems and processes
Lecture: Cash and Internal Control
/ Accounting for receivables
Reading: Chapter 8 &9
Tutorial: Accounting for Inventories
Mid Semester examination

Assessment

Tutorial Preparation
& Participation
Tutorial Preparation
& Participation
Tutorial Preparation
& Participation

Tutorial Preparation
& Participation
Tutorial Preparation
& Participation

Mid
Semester
examination

Mid semester teaching break

(Monday 8 September to Friday 19 September)
Lecture: Accounting concepts and principles
Tutorial Preparation
/ Financial Statement Analysis
& Participation
Reading: Chapter 12 &19
Tutorial: Cash and Internal Control
/ Accounting for receivables
Lecture: Accounting for non-current assets
/Investments
Reading: Chapter 10 &17
Tutorial: Accounting concepts and principles
/ Financial Statement Analysis
Assignment due
Lecture: Current liabilities/ Non-current liabilities
(4pm, 7 Oct)
Reading: Chapter 11 & 16
Tutorial: Accounting for non-current assets/Investments
Lecture : The Cash Flow Statement
Reading: Chapter 18
Tutorial: Current liabilities/ Non-current liabilities
Lecture: Companies
Reading: Chapter 14 &15

Tutorial Preparation
& Participation
Tutorial Preparation
& Participation

Tutorial: The Cash Flow Statement

13

27 Oct

Lecture: Accounting for partnerships / Course review Tutorial Preparation

Reading: Chapter 13
& Participation
Tutorial: Companies
Final examination
Semester 2 examination period
(Thursday 6 Nov to Saturday 22 Nov)

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COURSE ASSESSMENT

Assessment Summary
Item

Title

Value

1.Mid-Semester Exam Two hours closed book, plus 30%

15 minutes reading time
2.Group Assignment Analyse
the
financial 10%
statements
of
assigned
Australian Listed Companies
3.Tutorial
Tutorial exercises completion 10%
and participation
4.Final Examination
Three hours closed book, 50%
plus 15 minutes reading time

Due
Date
Week 7
Week 10

Weeks
2-13
Final
Exam
Period

LEARNING OUTCOMES-ASSESSMENT
How well have you achieved the learning outcomes for this course? Your lecturer makes this
judgement based on your assignments and examination papers. This table illustrates how
each assessment item provides evidence about your achievements against each learning
outcome.
Course Learning Outcomes
Upon successful completion of the
requirements for this course, students will be
able to:

Tutorial

Mid
Semester
Examination

Final
Examination

identify the main users of financial

accounting reports, and the main
purpose for which information is used
distinguish between cash and accrual
accounting
distinguish between assets, liabilities,
equity, income and expense
prepare journal entries, post to ledger
accounts,
and
calculate
closing
balances, prepare a trial balance,
prepare adjusting, reversing and closing
entries to collate corporate financial
information
develop the knowledge and ability to
prepare the financial statements for
organisations
characterised
by
moderately
complex
financial
transactions
Analyse financial statements with regard
to key aspects of performance

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Case
study
Assignment

ASSIGNMENT DETAILS
Due Date
Value
or
Weighting (%)
Suggested
Length
Instructions
Purpose

4pm Tuesday 7 October

10%
3,500 words
To be advised on Wattle in Week 6
To analyse financial statements with regard to key aspects of
balance sheet and income statement

Marking
To be advised in Week 6
Criteria
Submission / The assignment must be submitted in the slot under the counter of
Presentation
the ABIS office by 4pm on the due date. All assignments are
Details
cleared, sorted and date-stamped at 4pm on due date.
Do not hand your assignment to the lecturer or tutor. If you intend
to submit the assignment prior to the due date, you must advise the
office staff in advance of your intention to do so.
Non-submission of the assignments will preclude you from
qualifying for a supplementary or further examination.
Late assignments are to be placed in the assignment submission
box with a note on the cover sheet to stipulate the due date and
actual date of submission.

Assignment Submission
The assignment must be submitted in the slot under the counter of the ABIS office by 4pm
on the due date. All assignments are cleared, sorted and date-stamped at 4pm on due date.
Do not hand your assignment to the lecturer or tutor. If you intend to submit the assignment
prior to the due date, you must advise the office staff in advance of your intention to do so.
Non-submission of the assignments will preclude you from qualifying for a supplementary or
further examination.
Late assignments are to be placed in the assignment submission box with a note on the
cover sheet to stipulate the due date and actual date of submission.
Extensions and Penalties
All requests for assignment extensions must be made in advance of the due date to the
lecturer. Late assignment will not be accepted without valid reasons and supporting
document.
Late assignment will attract a penalty in increments of 10% of the awarded mark, per day,
for the first five (5) days. Assignments that are six (6) or more days late will receive a mark
of zero.
Returning Assignments
During teaching periods assignments will be handed back in tutorials. At the end of semester
students should follow the tutors instructions regarding where to collect assignments from.
After this any uncollected assignments will be available for collection in the exam script
viewing sessions for the final exam of this course. Please note that after this, assignments
will be securely destroyed by the school office.

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Examinations
Mid-semester exams are administered by the university exam section and may be held
during or after business hours. Students are expected to be available for examination at the
time scheduled. Time and place will be published several weeks beforehand. The midsemester exam covers topics covered in lectures from weeks 1 to 6 (inclusive). It will be a
closed book examination of 2 hours (plus 15 minutes reading time) duration. Further
information regarding the exact examination date, time, location and content will be provided
in a separate announcement on Wattle.
The final examination for this course will be conducted at the end of semester at a time to be
determined. The link to the final examination timetable is published on the following website:
http:.//timetable.anu.edu.au. The final examination will involve a 3 hour paper, plus 15
minutes reading time. The examination will be based on all topics covered by this course.
The examination will be closed book.
The following may be taken into the examination:

Non-programmable calculators

English/foreign language translation dictionaries, with signed permission forms.

Permission forms for English/foreign language dictionaries are available from the
course website on Wattle or the RSABIS School Office foyer. Electronic dictionaries
are not allowed.

Scaling
Your final mark for the course will be based on the raw marks allocated for each assignment
or examination. However, your final mark may not be the same number as produced by that
formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw
marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will
exceed or equal the scaled mark of that student), and may be either up or down.
Referencing Requirements
Students should use Harvard style referencing for their assessments. For details see the
ANU Academic Skills and Learning Centre webpage: https://academicskills.anu.edu.au/
READING LISTS
PRESCRIBED TEXTS
Weygandt, Chalmers, Mitrone, Fyee, Kieso, Kimmel, Principles of Financial Accounting (3rd
edition). The textbook is published by Wiley
Recommended Reading
Trotman, K., Gibbins, M. & Carson, M., 2013. Financial Accounting An Integrated Approach
(5th ed). The textbook is published by Cengage Learning
Deegan, C., 2012. Australian Financial Accounting (7th ed). McGraw Hill.
Horngre, Harrison, Oliver, Best, Fraser, Tan, Willett., 2013, Financial Accounting (7th ed).
Pearson.
Hoggett, J., L. Edwards, J. Medlin & Tiling, M., 2009. Financial Accounting (7th ed) Milton:
Wiley
Deegan C, P., Kieso, D. E, Weygandt, J.J., 2009, Accounting, Building Business Skills,
Milton, Qld, Wiley & Sons (3rd ed)

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TUTORIAL AND/OR SEMINAR REGISTRATION

Tutorial and /or Seminar signup for this course will be done via the Wattle website. Detailed
information about signup times will be provided on Wattle or during your first lecture. When
tutorials are available for enrolment, follow these steps:
1.

Log on to Wattle, and go to the course site.

2.

Click on the link Tutorial signup here

3.
On the right of the screen, click on the tab Become Member of for the tutorial
class you wish to enter.
4.

Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab Leave
group and then re-enrol in another group. You will not be able to enrol in groups that have
reached their maximum number. Please note that enrolment in ISIS must be finalised for you
to have access to Wattle.

COMMUNICATION
Email
If necessary, the lecturers and tutors for this course will contact students on their official
ANU student email address. Information about your enrolment and fees from the Registrar
and Student Services' office will also be sent to this email address.
Announcements
Suggested wording: Students are expected to check the Wattle site for announcements
about this course, e.g. changes to timetables or notifications of cancellations. Notifications of
emergency cancellations of lectures or tutorials will be posted on the door of the relevant
room.
Course URLs
Suggested wording: More information about this course may be found on:
Programs and Courses (http://programsandcourses.anu.edu.au/2014/Catalogue )
the College of Business and Economics website (http://cbe.anu.edu/courses) and
Wattle (https://wattle.anu.edu.au), the University's online learning environment. Log on to
Wattle using your student number and your ISIS password.

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POLICIES
The University offers a number of support services for students. Information on these is
available online from http://students.anu.edu.au/studentlife/
ANU has educational policies, procedures and guidelines, which are designed to ensure that
staff and students are aware of the Universitys academic standards, and implement them.
You can find the Universitys education policies and an explanatory glossary at:
http://policies.anu.edu.au/
Students are expected to have read the Student Academic Integrity Policy before the
commencement of their course.
Other key policies include:

Student Assessment (Coursework)

Student Surveys and Evaluations

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