ACCTG 211 : Financial Accounting

Business and Economics

2020 Semester Two (1205) (15 POINTS)

Course Prescription

The study of financial accounting principles within New Zealand, to enable students to: (i) understand how they are developed and influenced; (ii) understand and apply New Zealand Financial Reporting Standards; (iii) report the results of complex business structures involving multiple entities and segments. Completing students will understand the role financial statements play in investment, analysis and contracting decisions, providing a base for advanced study and supporting other areas, particularly finance.

Course Overview

This course builds on the stage 1 courses ACCTG 101 Accounting Information and ACCTG 102 Accounting Concepts. ACCTG 211 reviews and interprets the recognition, measurement, and disclosure requirements of selected NZ IFRSs and includes the effects of these requirements on financial statements.

Course Requirements

Prerequisite: ACCTG 102, STATS 108

Capabilities Developed in this Course

Capability 1: Disciplinary Knowledge and Practice
Capability 2: Critical Thinking
Capability 3: Solution Seeking
Capability 4: Communication and Engagement
Graduate Profile: Bachelor of Commerce

Learning Outcomes

By the end of this course, students will be able to:
  1. Compare and contrast the four major influences on the development and regulation of accounting around the world. (Capability 1 and 2)
  2. Demonstrate a specialised understanding of selected international accounting standards. Select appropriate data and prepare financial statements to illustrate the effects and requirements of: - NZ IAS 1 - NZ IAS 7 - NZ IFRS 16 - NZ IAS 16, 36 and 38 - NZ IFRS 3 and 10 - NZ IAS 28 (Capability 1, 2 and 3)
  3. Prepare a written report to illustrate and apply the requirements of NZ IAS 10. (Capability 1 and 4.2)

Assessments

Assessment Type Percentage Classification
Assignments x 5 20% Individual Coursework
PeerWise x 5 10% Individual Coursework
Test 25% Individual Test
Exam 45% Individual Examination
Assessment Type Learning Outcome Addressed
1 2 3
Assignments x 5
PeerWise x 5
Test
Exam
There is no plussage in this course – both coursework, test and the final examination are used to obtain the overall final course grade. 

Workload Expectations

ACCTG 211 is a 15 point course and requires a commitment of 150 hours: 32 lecture contact hours, 10 tutorial contact hours and 108 self-study hours. This course requires students to take responsibility for their own learning; this may involve seeking appropriate help from academic staff. Students are expected to attend all classes (three to four hours per week) and complete their weekly self-study hours in order to nurture effective learning.

Learning Resources

There is no prescribed text for this course; the lecture materials are therefore comprehensive. All course materials will be made available on Canvas/Modules. The accounting standards (IFRS and IAS), covered in this course, can be downloaded (for free) from www.xrb.govt.nz.

Digital Resources

Course materials are made available in a learning and collaboration tool called Canvas which also includes reading lists and lecture recordings (where available).

Please remember that the recording of any class on a personal device requires the permission of the instructor.

Academic Integrity

The University of Auckland will not tolerate cheating, or assisting others to cheat, and views cheating in coursework as a serious academic offence. The work that a student submits for grading must be the student's own work, reflecting their learning. Where work from other sources is used, it must be properly acknowledged and referenced. This requirement also applies to sources on the internet. A student's assessed work may be reviewed against online source material using computerised detection mechanisms.

Inclusive Learning

All students are asked to discuss any impairment related requirements privately, face to face and/or in written form with the course coordinator, lecturer or tutor.

Student Disability Services also provides support for students with a wide range of impairments, both visible and invisible, to succeed and excel at the University. For more information and contact details, please visit the Student Disability Services’ website at http://disability.auckland.ac.nz

Special Circumstances

If your ability to complete assessed coursework is affected by illness or other personal circumstances outside of your control, contact a member of teaching staff as soon as possible before the assessment is due.

If your personal circumstances significantly affect your performance, or preparation, for an exam or eligible written test, refer to the University’s aegrotat or compassionate consideration page: https://www.auckland.ac.nz/en/students/academic-information/exams-and-final-results/during-exams/aegrotat-and-compassionate-consideration.html.

This should be done as soon as possible and no later than seven days after the affected test or exam date.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.

Past A+ students were asked: What advice would you want to give to future ACCTG 211 students?  
 
Multiple variations of: 
-Study consistently and don't wait until the last minute to catch up on everything. Complete all the assignments and take them seriously as they provide a great practice for exams.  
-With the computational aspects of accounting, you need to practise and comprehend the rationale behind each problem you do in order to master it. For example, in addition to reviewing the tutorial, assignment, and example document problems, one should spend some time thinking about possible extensions to these questions to cover any concepts that were discussed but not explicitly assessed in that pertinent assessment. If a student mechanistically regurgitates content without understanding the underlying principles of accounting they will find it difficult to apply their knowledge in different scenarios, irrespective of the amount of time they have spent studying. 

Student Charter and Responsibilities

The Student Charter assumes and acknowledges that students are active participants in the learning process and that they have responsibilities to the institution and the international community of scholars. The University expects that students will act at all times in a way that demonstrates respect for the rights of other students and staff so that the learning environment is both safe and productive. For further information visit Student Charter (https://www.auckland.ac.nz/en/students/forms-policies-and-guidelines/student-policies-and-guidelines/student-charter.html).

Disclaimer

Elements of this outline may be subject to change. The latest information about the course will be available for enrolled students in Canvas.

In this course you may be asked to submit your coursework assessments digitally. The University reserves the right to conduct scheduled tests and examinations for this course online or through the use of computers or other electronic devices. Where tests or examinations are conducted online remote invigilation arrangements may be used. The final decision on the completion mode for a test or examination, and remote invigilation arrangements where applicable, will be advised to students at least 10 days prior to the scheduled date of the assessment, or in the case of an examination when the examination timetable is published.

Published on 19/06/2020 10:21 a.m.