Program Overview
WACC1000 – Accounting for Decision Making
Unit Description
This unit focuses on the role of accounting and the accounting profession in decision-making within both a business environment and society. By exploring and discovering diverse accountability frameworks, students will learn to appreciate the role accounting plays. The unit aims to introduce basic accounting concepts and methods. Students will be provided with an opportunity to discuss evolving means of information preparation, with an emphasis on understanding how such information assists users when making important business decisions. The role of accounting stewardship is explored, developing students' awareness of social, environmental, and ethical concerns in an attempt to develop well-rounded business professionals. Students will develop skills in using accounting software currently used by businesses for reporting purposes. Students will also be given the opportunity to develop skills in resolving conflict and ethical dilemmas.
General Information
- Unit convenor and teaching staff: Senior Teacher Maxine Chen
- Credit points: 10
- Prerequisites: None
- Corequisites: None
- Co-badged status: None
- Unit description: As described above
Learning Outcomes
On successful completion of this unit, students will be able to:
- Examine the role of Accounting in a contemporary social context with a focus on business ethics and responsible management so as to develop skills in resolving conflict and ethical dilemma.
- Describe the business environment of the accounting profession.
- Develop competences in key technical aspects in accounting practice and be able to process and interpret basic accounting information.
- Evaluate the traditional aspects of accounting for business decision-making.
General Assessment Information
Requirements to Pass
To successfully complete this unit, a student must obtain a numerical overall mark of 50 or more for the unit.
Grading
Students will be awarded common result grades as specified in the Assessment Policy.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Active Participation | 30% | No | Weeks 2, 3, 4, and 6, Lesson 3 |
| Quizzes | 20% | No | 11:55pm Sunday at the end of Weeks 2, 4, 6, and 7 |
| Accounting Software Assignment | 20% | No | 11:55pm Tuesday, Week 6 |
| Final Exam | 30% | No | MQ College Final Examination Period |
Assessment Tasks Details
Active Participation
- Assessment Type: Participatory task
- Indicative Time on Task: 15 hours
- Due: Weeks 2, 3, 4, and 6, Lesson 3
- Weighting: 30% Students are required to actively engage in unit activities. Activities will vary and will take place in class and/or online.
Quizzes
- Assessment Type: Quiz/Test
- Indicative Time on Task: 15 hours
- Due: 11:55pm Sunday at the end of Weeks 2, 4, 6, and 7
- Weighting: 20% Students will complete a series of online quizzes on iLearn.
Accounting Software Assignment
- Assessment Type: Problem set
- Indicative Time on Task: 10 hours
- Due: 11:55pm Tuesday, Week 6
- Weighting: 20% Students are required to undertake an accounting task using an online accounting software program.
Final Exam
- Assessment Type: Examination
- Indicative Time on Task: 30 hours
- Due: MQ College Final Examination Period
- Weighting: 30% The Final Exam will have a duration of 10 minutes reading time plus 2 hours writing time.
Delivery and Resources
Term Dates & Calendar
Details of key dates during the term can be found on the Important Dates calendar.
Enrolment and Timetables
General enrolment and timetable information is available via the Macquarie University College enrolment dates and instructions page and Macquarie University's unit enrolment page.
Attendance Requirements
Attendance will be monitored in each lesson, and students are able to see their current attendance percentage to date and potential attendance percentage for each unit they have enrolled in via iLearn.
Technology Used and Required
- Access to internet
- AppStream
- Access to iLearn
- Access to the Waranara Library catalogue (MultiSearch)
- Macquarie students can download the Microsoft Office Suite of software for free
Unit Schedule
| Week | Topics | Assessment Task |
|---|---|---|
| 1 | An Introduction to Accounting | |
| 2 | Recording Transactions | Active Participation 1, Quiz 1 |
| 3 | Adjusting Entries | Active Participation 2 |
| 4 | Closing Entries and Post Closing Trial Balance | Active Participation 3, Quiz 2 |
| 5 | Study Week | |
| 6 | An Introduction to Management Accounting | Accounting Software Assignment, Active Participation 4, Quiz 3 |
| 7 | An Introduction to Sustainability | Quiz 4 |
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
Academic Integrity
At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness, and courage – is at the core of learning, teaching, and research.
Student Support
Macquarie University provides a range of support services for students, including:
- Academic Success
- The Library
- IT Support
- Accessibility and disability support with study
- Mental health support
- Safety support to respond to bullying, harassment, sexual harassment, and sexual assault
- Social support including information about finances, tenancy, and legal issues
- Student Advocacy provides independent advice on MQ policies, procedures, and processes
Course Contact Hours
Weekly face-to-face contact for this unit will be 6 hours (36 hours per term).
Learning and Teaching Activities
Lessons will include a mixture of activities. New content and topics will be presented during lessons, and students will be given problems, practice questions, and other interactive activities to apply the knowledge and the skills gained in the lesson.
Unit Specific Texts and Materials
The following text has been prescribed for this unit:
- Carlon, S. (2022). Accounting: reporting, analysis and decision making (7th ed.). John Wiley and Sons Australia Ltd. e-Text ISBN: The text is available via a low-cost subscription at Wiley Business Now.