Financial accounting
assessment 2
KING’S OWN INSTITUTE*
Success in Higher Education
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ACC701 FINANCIAL ACCOUNTING T220
All information in the Subject Outline is correct at the time of approval. KOI reserves the right to make changes to the Subject
Outline if they become necessary. Any changes require the approval of the KOI Academic Board and will be formally advised
to those students who may be affected by email and via Moodle.
Information contained within this Subject Outline applies to students enrolled in the trimester as indicated
1. General Information
1.1 Administrative Details
Associated HE Award(s) Duration Level Subject Coordinator
Graduate Diploma of Business
Master of Accounting
Master of Professional Accounting
1 trimester Postgraduate Dr Demi Chung
demi.chung@koi.edu.au
P: 92833583
L: Level 1, 545 Kent St.
Consultation: via Moodle or by
appointment
1.2 Core/Elective
This is a core subject for the Master of Accounting and the Master of Professional Accounting and elective
subject for the Graduate Diploma of Business.
1.3 Subject Weighting
Indicated below is the weighting of this subject and the total course points.
Subject Credit Points Total Course Credit Points
4 GDBus 32; MAcc 48; MPA 64
1.4 Student Workload
Indicated below is the expected student workload per week for this subject
No. Timetabled Hours/Week* No. Personal Study
Hours/Week**
Total Workload Hours/Week***
4 hours/week
(2 hour Lecture + 2 hour Tutorial)
6 hours/week 10 hours/week
* Total time spent per week at lectures and tutorials
** Total time students are expected to spend per week in studying, completing assignments, etc.
*** Combination of timetable hours and personal study.
1.5 Mode of Delivery Blended, that is face-to-face/online
1.6 Pre-requisites ACC700 Principles of Accounting
1.7 General Study and Resource Requirements
o Students are expected to attend classes with the weekly worksheets and subject support material
provided in Moodle. Students should read this material before coming to class to improve their ability to
participate in the weekly activities.
o Students will require access to the internet and their KOI email and should have basic skills in word
processing software such as MS Word, spreadsheet software such as MS Excel and visual
presentation software such as MS PowerPoint.
o Computers and WIFI facilities are extensively available for student use throughout KOI. Students are
encouraged to make use of the campus Library for reference materials.
Resource requirements specific to this subject: Students should have a non-programmable calculator.
Applications in smart phones will not be sufficient to perform the required calculations in class.
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2. Academic Details
2.1 Overview of the Subject
This subject introduces students to special topics relating to Australian financial reporting with an
emphasis on recognition and measurement of assets and liabilities. It comprehensively covers a number
of Australian-International Financial Reporting Standards relevant to reporting problems in particular
areas (such as cash flows and revenue), and with reference to particular types of assets and liabilities
(such as intangible assets, share-based payments, leases and complex financial instruments). In
addition, the expanded disclosure is reviewed along with various proposals for strengthening external
financial reporting.
2.2 Graduate attributes for postgraduate courses
Graduates of Postgraduate courses from King’s Own Institute will achieve the graduate attributes
expected from successful completion of a Master’s degree under the Australian Qualifications Framework
(2nd edition, January 2013). Graduates at this level will be able to apply an advanced body of knowledge
in a range of contexts for professional practice or scholarship and as a pathway for further learning.
King’s Own Institute’s key generic graduate attributes for a master’s level degree are summarised
below:
Across the course, these skills are developed progressively at three levels:
o Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply
them in stand-alone contexts
o Level 2 Intermediate – Students further develop skills, theories and techniques of the subject and
apply them in more complex contexts, beginning to integrate the application with other subjects.
o Level 3 Advanced – Students have a demonstrated ability to plan, research and apply the skills,
theories and techniques of the subject in complex situations, integrating the subject content with a
range of other subject disciplines within the context of the course.
KOI Master’s Degree Graduate
Attributes
Detailed Description
Knowledge Current, comprehensive and coherent knowledge, including recent developments and applied research methods
Critical Thinking
Critical thinking skills to identify and analyse current theories
and developments and emerging trends in professional
practice
Communication
Communication and technical skills to analyse and theorise,
contribute to professional practice or scholarship, and present
ideas to a variety of audiences
Research and Information Literacy
Cognitive and technical skills to access and evaluate
information resources, justify research approaches and
interpret theoretical propositions
Creative Problem Solving Skills
Cognitive, technical and creative skills to investigate, analyse
and synthesise complex information, concepts and theories,
solve complex problems and apply established theories to
situations in professional practice
Ethical and Cultural Sensitivity
Appreciation and accountability for ethical principles, cultural
sensitivity and social responsibility, both personally and
professionally
Leadership and Strategy
Initiative, leadership skills and ability to work professionally and
collaboratively to achieve team objectives across a range of
team roles
Expertise in strategic thinking, developing and implementing
business plans and decision making under uncertainty
Professional Skills High level personal autonomy, judgement, decision-making and accountability required to begin professional practice
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2.3 Subject Learning Outcomes
Listed below, are key knowledge and skills students are expected to attain by successfully completing
this subject:
Subject Learning Outcomes Contribution to Graduate Attributes
a) Explain and apply the concepts and regulations relating to
financial accounting in accounting settings
b) Articulate measurement issues related to the covered
topics; and locate and implement the disclosure
requirements related to the covered topics
c) Identify and solve financial accounting problems by
applying analytical and problem solving techniques
d) Demonstrate technical competence in the relevant complex
areas of accounting where measurement and recognition
judgements need to be made.
2.4 Subject Content and Structure
Below are details of the subject content and how it is structured, including specific topics covered in
lectures and tutorials. Reading refers to the text unless otherwise indicated.
Weekly Planner:
Week
(beginning)
Topic Covered in Each Week’s
Lecture
Reading(s) Expected work as listed in Moodle
1
06 Jul
Accounting regulation and the
conceptual framework Loftus: Ch. 1
Tutorial exercises as listed
in Moodle
2
13 Jul Statement of cash flows
Loftus: Ch. 17
AASB 107
Tutorial exercises
3
20 Jul Revenue
Loftus: Ch. 15
AASB 15
Tutorial exercises
4
27 Jul Intangible assets
Loftus: Ch. 6
AAS8 138
Tutorial exercises
5
03 Aug Employee benefits
Loftus: Ch. 9
AASB 119
Tutorial exercises
6
10 Aug Mid trimester test
Assignment review
Mid trimester exams
16 Aug 2020
–
23 Aug 2020
Mid trimester break
7
24 Aug Share-based payments
Loftus:
Ch. 14
AASB 2
Tutorial exercises
8
31 Aug Leases
Loftus:
Ch. 10
AASB 16
Tutorial exercises
9
07 Sep Financial instruments Part I
Ch. 11
(pp. 401-415)
AASB 7, 9, 132
Case study due
Deferred mid trimester
exams – see Section 2.6
below for more information
Tutorial exercises
10
14 Sep Financial instruments Part II
Loftus:
Ch. 11
(pp. 416-454)
AASB 7, 9, 132
Tutorial exercises
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11
21 Sep Earnings per share
Loftus:
Ch. 19
AASB 133
Tutorial exercises
12
28 Sep Revision lecture Revision exercises
13
04 Oct Study Review Week
14
12 Oct Final Exam Week
Please see exam timetable for exam date, time
and location
15
18 Oct
Student Vacation begins
Enrolments for T320 open
16
26 Oct
Results Released 27 Oct 2020
Certification of Grades 30 Oct 2020
T320 begins 02 Nov 2020
1
02 Nov
Week 1 of classes for T320
Friday 30 Oct 2020 – Review of Grade Day for T220 – see Sections 2.6 and 3.2 below
for more information.
2.5 Public Holiday Amendments
Please note: KOI is closed on all scheduled NSW Public Holidays.
T220 has one (1) public holiday (Labour Day) that occurs during this trimester. Classes scheduled for this
public holiday (Calendar Class Dates) will be rescheduled as per the table below.
This applies to ALL subjects taught in T220.
Please see the table below and adjust your class timing as required. Please make sure you have
arrangements in place to attend the rescheduled classes if applicable to your T220 enrolment.
Classes will be conducted at the same time and in the same location as your normally scheduled class
except these classes will be held on the date shown below.
Calendar Class Date Rescheduled Class Date
Monday 05 October 2020 (Week 13)
Study Review Week
Not required
2.6 Review of Grade, Deferred Exams & Supplementary Exams/Assessments
Review of Grade:
There may be instances when you believe that your final grade in a subject does not accurately reflect
your performance against the subject criteria. Section 8 of the Assessment and Assessment Appeals
Policy (www.koi.edu.au) describes the grounds on which you may apply for a Review of Grade.
If this happens and you are unable to resolve it with the Academic staff concerned then you can apply for
a formal Review of Grade within the timeframes indicated in the following sections of this subject outline
– Supplementary Assessments, 3.2 Appeals Process as well as the Assessment and Assessment
Appeals Policy. Please ensure you read the Review of Grade information before submitting an
application.
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Review of Grade Day:
Final exam scripts will not normally be returned to students. Students can obtain feedback on their exam
performance at the Review of Grade Day. KOI will hold the Review of Grade Day for all subjects studied
in T220 on
Friday 30 October 2020
Only final exams will be discussed as all other assessments should have been reviewed during the
trimester.
If you fail one or more subjects and you wish to consider applying for a Review of Grade you are
STRONGLY ADVISED to attend the Review of Grade Day. You will have the chance to discuss your final
exam with your lecturer, and will be advised if you have valid reasons for applying for a Review of Grade
(see Section 3.2 below and the Assessment and Assessment Appeals Policy).
A formal request for a review of grade may not be considered unless you first contact the subject
coordinator to discuss the result.
Deferred Exams:
If you wish to apply for a deferred exam, you should submit an Application for Assignment Extension or
Deferred Exam Form before the prescribed deadline.
If you miss your mid-trimester or final exam there is no guarantee you will be offered a deferred exam.
You must apply within the stated timeframe and satisfy the conditions for approval to be offered a
deferred exam (see Section 8.1 of the Assessment and Assessment Appeals Policy and the Application
for Assignment Extension or Deferred Exam Forms). In assessing your request for a deferred exam,
KOI will take into account the information you provide, the severity of the event or circumstance, your
performance on other items of assessment in the subject, class attendance and your history of previous
applications for special consideration.
Deferred mid-trimester exams will be held before the end of week 9. Deferred final exams will be held
on two days during week 1 or 2 in the next trimester. You will not normally be granted a deferred exam
on the grounds that you mistook the time, date or place of an examination, or that you have made
arrangements to be elsewhere at that time; for example, have booked plane tickets.
If you are offered a deferred exam, but do not attend you will be awarded 0 marks for the exam. This
may mean it becomes difficult for you to pass the subject. If you apply for a deferred exam within the
required time frame and satisfy the conditions you will be advised by email (to your KOI student email
address) of the time and date for the deferred exam. Please ensure that you are available to take the
exam at this time.
Marks awarded for the deferred exam will be the marks awarded for that item of assessment towards
your final mark in the subject.
Supplementary Assessments (Exams and Assessments):
A supplementary assessment may be offered to students to provide a final opportunity to demonstrate
successful achievement of the learning outcomes of a subject. Supplementary assessments are only
offered at the discretion of the Board of Examiners. In considering whether or not to offer a supplementary
assessment, KOI will take into account your performance on all the major assessment items in the
subject, your attendance, participation and your history of any previous special considerations.
Students are eligible for a supplementary assessment for their final subject in a course where they fail
the subject but have successfully completed all other subjects in the course. You must have completed
all major assessment tasks for the subject and obtained a passing mark on at least one of the major
assessment tasks to be eligible for a supplementary assessment.
If you believe you meet the criteria for a supplementary assessment for the final subject in your course,
but have not received an offer, complete the “Complaint, Grievance, Appeal Form” and send your form
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to reception@koi.edu.au. The deadline for applying for supplementary assessment is the Friday of the
first week of classes in the next trimester.
If you are offered a supplementary assessment, you will be advised by email to your KOI student email
address of the time and due date for the supplementary assessment – supplementary exams will normally
be held at the same time as deferred final exams during week 1 or week 2 of the next trimester.
You must pass the supplementary assessment to pass the subject. The maximum grade you can achieve
in a subject based on a supplementary assessment is a PASS grade.
If you:
o are offered a supplementary assessment, but fail it;
o are offered a supplementary exam, but do not attend; or
o are offered a supplementary assessment but do not submit by the due date;
you will receive a FAIL grade for the subject.
2.7 Teaching Methods/Strategies
Briefly described below are the teaching methods/strategies used in this subject:
o Lectures (2 hours/week) are conducted in seminar style and address the subject content, provide
motivation and context and draw on the students’ experience and preparatory reading.
o Tutorials (2 hours/week) include class discussion of case studies and research papers, practice sets and
problem-solving and syndicate work on group projects. Tutorials often include group exercises and so
contribute to the development of teamwork skills and cultural understanding. Tutorial participation is an
essential component of the subject and contributes to the development of many of the graduate attributes
(see section 2.2 above). Tutorial participation contributes towards the assessment in many subjects (see
details in Section 3.1 for this subject). Supplementary tutorial material such as case studies,
recommended readings, review questions etc. will be made available each week in Moodle.
o Online teaching resources include class materials, readings, model answers to assignments and
exercises and discussion boards. All online materials for this subject as provided by KOI will be found in
the Moodle page for this subject. Students should access Moodle regularly as material may be updated at
any time during the trimester
o Other contact – academic staff may also contact students either via Moodle messaging, or via email to the
email address provided to KOI on enrolment.
2.8 Student Assessment
Provided below is a schedule of formal assessment tasks and major examinations for the subject.
Assessment Type When Assessed Weighting Learning Outcomes Assessed
Assessment 1:
Mid trimester test
Week 6 20% a, b, c, d,
Assessment 2:
Case study
Week 9 30% c, d
Assessment 3:
Final examination
(2,5 hours + 10 min reading time)
Final exam week 50% a, b, c, d
Requirements to Pass the Subject:
To gain a pass or better in this subject, students must gain a minimum of 50% of the total available
subject marks.
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2.9 Prescribed and Recommended Readings
Provided below, in formal reference format, is a list of the prescribed and recommended readings.
Prescribed Text:
Loftus, J., Leo, K., Daniliuc, S., Boys, N., Luke, B., Ang, H. and Byrnes, K., 2018. Financial reporting.
2nd ed. Milton, QLD John Wiley and Sons Australia Ltd. Available from: ProQuest Ebook Central.
Recommended Readings:
Deegan, C., 2020. Financial accounting. 9th ed. McGraw-Hill Education, North Ryde, NSW.
Elliott, B. and Elliott, J., 2015. Financial accounting and reporting. 18th ed. Harlow, U.K.: Pearson.
Fridson, M. and Alvarez, F., 2011. Financial statement analysis workbook: a practitioner’s guide. 4 th ed. John
Wiley & Sons, Incorporated, New York. Available from: ProQuest Ebook Central.
Goodwin, J., Ahmed, K. and Heaney, R., 2008. The effects of international financial reporting
standards on the accounts and accounting quality of Australian firms: a retrospective study. Journal
of contemporary accounting and economics, 4(2), pp.89-119.
Henderson, S., Peirson, G., Herbohn, K., Artiach, T. and Howieson, B., 2017. Issues in financial
accounting. 16th ed. Australia: Pearson.
Hoggett, J., 2018. Accounting. 10th ed. Wiley. Melbourne. Available from: ProQuest Ebook Central.
Messier, W. and Schmidt, M., 2018 Offsetting misstatements: the effect of misstatement distribution,
quantitative materiality, and client pressure on auditors’ judgments. Accounting review, 93(4),
pp. 335–357. Available from: EBSCO Databases.
Wild, J., Subramanyam, K. and Halsey, R., 2014. Financial statement analysis. 11th ed. New York:
McGraw-Hill Education.
Australian Accounting Standards:
Australian Accounting Standards are available for viewing or downloading from the AASB’s homepage
(http://www.aasb.gov.au/).
References available from EBSCOhost research databases:
o Financial Review (Australia)
o Accounting and Finance
o Accounting, Auditing & Accountability Journal
o Accounting Research Journal
o Accounting Review
o Acuity
o Australasian Accounting, Business and Finance Journal
o Australian Journal of Accounting Education
o Australian Journal of Management
o In The Black
o Journal of Accounting and Economics
o Journal of Applied Research in Accounting and Finance
Useful Websites:
The following websites are useful sources covering a range of information useful for this subject. However,
most are not considered to be sources of Academic Peer Reviewed theory and research. If your
assessments require academic peer reviewed journal articles as sources, you need to access such
sources using the Library database, Ebscohost, or Google Scholar. Please ask in the Library if you are
unsure how to access Ebscohost. Instructions can also be found in Moodle.
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http://www.aasb.gov.au/
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The following websites may be useful in interpreting the International AASB Standards:
o Australian Accounting Standards Board www.aasb.gov.au/
o CPA Australia www.cpaaustralia.com.au
o Chartered Accountants Australia and New Zealand www.charteredaccountants.com.au/
o Institute of Public Accountants www.publicaccountants.org.au/
o Proactive Accountants Network http://proactiveaccountants.net/
3. Assessment Details
3.1 Details of Each Assessment Item
The assessments for this subject are described below. The description includes the type of
assessment, its purpose, weighting, due date and submission requirements, the topic of the
assessment, details of the task and detailed marking criteria, including a marking rubric for essays,
reports and presentations. Supplementary assessment information and assistance can be found in
Moodle.
KOI expects students to submit their own original work in both assignments and exams, or the original
work of their group in the case of group assignments. Material in assignments which comes from the
work of others must be appropriately acknowledged.
Assessment 1
Assessment Type: Mid trimester test – Individual Assessment – closed book.
Purpose: This assessment is designed to reinforce subject content taught during the trimester. This
contributes to learning outcomes a, b, c, d.
Value: 20% Due Date: Week 6
Topic: Weeks 1 to 5 subject content.
Task Details: The mid trimester test will be 60 minutes duration, held in Lecture class in week 6.
Students are expected to bring a non-programmable calculator and writing pens to the test. No other
materials will be permitted.
Assessment 2
Assessment Type: Individual research assessment
Purpose: To allow students to apply the technical knowledge of relevant accounting standards to
financial reporting settings. This assessment relates to learning outcomes c, d.
Value: 30% Due Date: Week 9 – 8:00 pm Wednesday of Week 9
Submission: Submission must be made to the Moodle Assignment Link on the KOI Moodle Subject
Home Page by 8.00 pm Wednesday of Week 9. A printed copy must be submitted to the Lecturer at the
Week 9 Lecture to assist with marking. All assignments must have a signed KOI Assignment
Coversheet included with the submission.
Topic: Reporting and Disclosure of Intangible Assets
Task Details: Each student is required to choose an ASX listed firm and analyse its 2019 financial
statements. The analysis must focus on discussing the firm’s reporting and disclosure practices on
intangible assets. In the discussion, detail the accounting policy that the firm follows in reporting,
measuring and disclosing its intangible assets. The discussion must be supported by the requirements
prescribed by AASB 138 and relevant academic and professional discourse.
Justify why the firm adopted the policy in its 2019 financial reports rather than other policies permitted
under AASB 138. To achieve this, students must present an alternative economic outcome in terms of
accounting profit and net assets, if the firm chooses a policy permitted under AASB 138 but different to
the one that was used in its 2019 financial reports. Students are also required to research on the
Approved by KOI Academic Board for T2 2020
http://www.aasb.gov.au/
http://www.cpaaustralia.com.au/
http://www.charteredaccountants.com.au/
http://www.publicaccountants.org.au/
http://proactiveaccountants.net/
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economic, institutional, historical and cultural backgrounds of the firm to make sense its accounting
choice in relation to intangible assets.
Note that each student must choose a unique ASX listed firm, the firm must NOT be in mining or
banking industry; so get in early and report to your tutor your choice of the firm, once it is locked in by
your tutor, no other students in the subject (not just your tutorial class) are permitted to research the
same firm.
Research requirements: Students need to support their analysis with reference to relevant material from
the text and a minimum of eight (8) suitable, reliable, current and academically acceptable sources – this
should include at least 2 peer-reviewed academic journal articles.
Presentation: 2000 + 10% word short report format. Title page, executive summary, table of contents,
appropriate headings and sub-headings, recommendations/findings/conclusions, in-text referencing and
reference list (Harvard – Anglia style), attachments if relevant. Single spaced, font Times New Roman
12pt, Calibri 11 pt or Arial 10 pt.
Marking Guide: Interpretation and representation 20%
Calculations 20%
Analysis 20%
Assumptions 20%
Communication 20%
Total mark will be scaled to a mark out of 30 subject marks.
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Marking Rubric for ACC701 Financial Accounting Assessment 2
Criteria
Fail
(0 – 49%)
Pass
(50 – 64%)
Credit
(65 – 74%)
Distinction
(75 – 84%)
High Distinction
(85 – 100%)
Interpretation
and
Representation
20%
Does not provide explanations
of information presented in
mathematical form.
Does not make appropriate
inferences based on that
information.
Does not convert relevant
information into an insightful
mathematical portrayal.
Provides somewhat accurate
explanations of information presented
in mathematical forms, but
occasionally makes minor errors
related to computations or units.
Makes some inferences based on that
information.
Completes conversion of information
but resulting mathematical portrayal is
only partially appropriate or accurate.
Provides mostly accurate
explanations of information
presented in mathematical form.
Makes mostly appropriate
inferences based on that
information.
Converts relevant information into
an insightful mathematical portrayal
in a way that contains minimal
inaccuracies
Provides accurate explanations of
information presented in mathematical
form.
Makes appropriate inferences based
on that information.
Competently converts relevant
information into an insightful
mathematical portrayal in a way that
contributes to a further and deeper
understanding.
Provides accurate explanations of
information presented in mathematical
form.
Makes skilful inferences based on that
information.
Skilfully converts relevant information
into an insightful mathematical
portrayal in a way that contributes to a
further or deeper understanding.
Calculations
20%
Does not perform accurate
calculations.
Formulae and workings either
not provided or incomplete.
Many errors.
Performs calculations which solve the
basic and/or most obvious problem(s).
Main formulae and workings only
provided.
Some errors.
Performs mostly accurate
calculations which are sufficiently
comprehensive to solve most (of
the) problem(s).
Most formulae and workings
provided – some gaps.
Minor errors
Performs mostly accurate calculations
which are sufficiently comprehensive
to solve the problem(s).
Most/all formulae and workings
provided – minimal gaps.
Minimal errors
Performs accurate calculations which
are sufficiently comprehensive to solve
the problem(s).
All formulae and workings provided.
No errors
Analysis
20%
Does not use correct and
complete quantitative analysis.
Does not make relevant and
correct conclusions.
Uses basic analysis but uses the
quantitative analysis as the basis for
tentative, basic judgments, is hesitant
or uncertain about drawing
conclusions from this work.
Uses mostly correct and complete
quantitative analysis.
Makes mostly relevant and correct
conclusions.
Uses correct and complete
quantitative analysis.
Makes mostly relevant and correct
conclusions.
Uses correct and complete quantitative
analysis.
Makes sophisticated, relevant and
correct conclusions.
Assumptions
20%
Does not attempt to describe
assumptions or makes
incorrect assumptions.
Limited, incorrect or no
rationale.
Attempts to describe assumptions and
provides limited rationale to explain
why each assumption is appropriate.
Some errors in assumptions or
assumptions overlooked
Describes assumptions and
provides rationale to explain each
assumption.
Some elements incomplete or
semi-accurate assumptions.
Explicitly describes assumptions and
provides strong rationale to explain
assumptions.
Minimal errors in logic.
Explicitly describes assumptions and
provides comprehensive, compelling
and justified rationale to explain
assumptions.
No errors in logic.
Communication
20%
Communicates ineffectively.
Words do not reflect the
problem.
May include diagrams which
completely misrepresent the
problem situation.
May not include important
supporting diagrams.
Has some satisfactory elements but
may fail to complete or may omit
significant parts of the problem.
Explanation or description may be
missing or difficult to follow in places.
Includes most but not all important
diagram(s) or diagram(s) may be
unclear and difficult to interpret.
Makes significant progress towards
completion of the problem, but the
explanation or description may be
somewhat ambiguous or unclear.
May include flawed or unclear
diagram(s), or insufficient diagrams.
Gives a fairly complete response with
reasonably clear explanations or
descriptions. Includes nearly all
complete, appropriate diagram(s).
Generally communicates effectively to
the identified audience.
Presents supporting arguments which
are logically sound but may contain
some minor gaps.
Gives a complete response with a clear,
unambiguous explanation and/or
description.
Includes all appropriate and complete
diagram(s). Communicates effectively to
the identified audience. Presents strong
supporting arguments which are
logically sound and complete.
Total mark out
of 100%
Comments:
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Assessment 3
Assessment Type: Final Exam – individual assessment. Students should bring a non-programmable
calculator to the exam. No other electronic or other aids will be permitted. Duration: 2,5 hours plus 10
minutes reading time.
Purpose: The purpose of the final examination is to test your understanding of the subject’s concepts
and your ability to apply these concepts. The examination may cover materials used in tutorials, class
discussions and/or from the readings. This assessment contributes specifically to learning outcomes a,
b, c and d.
Value: 50% Due Date: The final exam will be held in the official KOI exam period in Week
14 of the trimester. The specific date and time will be posted towards the end of
the trimester.
Topic: The examination may cover content from any part of the entire subject.
Task Details: The final exam will require students to explain and apply the subject content to practical
situations as would be found in a modern accountancy practice, identifying issues, drawing conclusions,
and making recommendations.
3.2 General information about assessment
a) Late Penalties and Extensions
An important part of business life and key to achieving KOI’s graduate outcome of Professional Skills is
the ability to manage workloads and meet deadlines. Consequently, any assessment items such as in-
class quizzes and assignments missed or submitted after the due date/time will attract a penalty (see
below).
Students who miss mid-trimester tests and final exams without a valid and accepted reason (see below)
may not be granted a deferred exam and will be awarded 0 marks for assessment item. These
penalties are designed to encourage students to develop good time management practices, and create
equity for all students.
Any penalties applied will only be up to the maximum marks available for the specific piece of
assessment attracting the penalty.
Late penalties, granting of extensions and deferred exams are based on the following:
In Class Tests (excluding Mid-Trimester Tests)
o No extensions permitted or granted – a make-up test may only be permitted under very special
circumstances where acceptable supporting evidence is provided. The procedures and timing to
apply for a make-up test (only if available) are as shown in section Applying for an Extension (see
below).
o Missing a class test will result in 0 marks for that assessment element unless the above applies.
Written Assessments
o 5% of the total available marks per calendar day unless an extension is approved (see Applying for
an Extension section below)
Presentations
o No extensions permitted or granted – no presentation = 0 marks. The rules for make-up
presentations are the same as for missing in-class tests (described above).
Mid-Trimester Tests and Final Exams
o If students are unable to attend mid-trimester tests or final exams due to illness or some other event
(acceptable to KOI), they must:
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− Advise KOI in writing (email: academic@koi.edu.au) as soon as possible, but no later than
three (3) working days after the exam date, that they will be / were absent and the reasons.
They will be advised in writing (return email) as to whether the circumstances are acceptable.
− Complete the appropriate Application for Extension or Deferred Exam Form available from the
Student Information Centre in Moodle, on the KOI Website (Policies and Forms) and the
Reception Desk (Kent St, Market St and O’Connell St), as soon as possible and email with
attachments to academic@koi.edu.au.
− Provide acceptable documentary evidence in the form of a satisfactorily detailed medical
certificate, police report or some other evidence that will be accepted by KOI.
− Agree to attend the deferred exam as set by KOI.
Deferred exam
o There will only be one deferred exam offered.
o Marks awarded for the deferred exam will be the marks awarded for that assessment.
o If you miss the deferred exam you will be awarded 0 marks for the assessment. This may mean you
are unable to complete (pass) the subject.
b) Applying for an Extension
If students are unable to submit or attend an assessment when due, and extensions are possible, they
must apply by completing the appropriate Application for Extension form available from the Student
Information Centre in Moodle, the KOI Website (Policies and Forms) and the Reception Desk (Kent St,
Market St and O’Connell St), as soon as possible but no later than three (3) working days of the
assessment due date.
The completed form must be emailed with supporting documentation to academic@koi.edu.au.
Students and lecturers / tutors will be advised of the outcome of the extension request as soon as
practicable.
Appropriate documentary evidence to support the request for an extension must be supplied. Please
remember there is no guarantee of an extension being granted, and poor organisation is not a
satisfactory reason to be granted an extension.
c) Referencing and Plagiarism
Please remember that all sources used in assessment tasks must be suitably referenced.
Failure to acknowledge sources is plagiarism, and as such is a very serious academic issue. Students
plagiarising run the risk of severe penalties ranging from a reduction through to 0 marks for a first
offence for a single assessment task, to exclusion from KOI in the most serious repeat cases. Exclusion
has serious visa implications. The easiest way to avoid plagiarising is to reference all sources.
Harvard referencing is the required method – in-text referencing using Author’s Surname (family name)
and year of publication. A Referencing Guide, “Harvard Referencing”, and a Referencing Tutorial can
be found on the right hand menu strip in Moodle on all subject pages.
An effective way to reference correctly is to use Microsoft Word’s referencing function (please note that
other versions and programs are likely to be different). To use the referencing function, click on the
References Tab in the menu ribbon – students should choose Harvard.
Authorship is also an issue under plagiarism – KOI expects students to submit their own original work in
both assessment and exams, or the original work of their group in the case of a group project. All
students agree to a statement of authorship when submitting assessments online via Moodle, stating
that the work submitted is their own original work.
The following are examples of academic misconduct and can attract severe penalties:
o Handing in work created by someone else (without acknowledgement), whether copied from
another student, written by someone else, or from any published or electronic source, is fraud, and
falls under the general Plagiarism guidelines.
o Copying / cheating in tests and exams is academic misconduct. Such incidents will be treated just
as seriously as other forms of plagiarism.
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o Students who willingly allow another student to copy their work in any assessment may be
considered to assisting in copying/cheating, and similar penalties may be applied.
Where a subject coordinator considers that a student might have engaged in academic misconduct,
KOI may require the student to undertake an additional oral exam as a part of the assessment for the
subject, as a way of testing the student’s understanding of their work.
Further information can be found on the KOI website.
d) Reasonable Adjustment
The Commonwealth Disability Discrimination Act (1992) makes it unlawful to treat people with a
disability less fairly than people without a disability. In the context of this subject, the principle of
Reasonable Adjustment is applied to ensure that participants with a disability have equitable access to
all aspects of the learning situation. For assessment, this means that artificial barriers to their
demonstrating competence are removed.
Examples of reasonable adjustment in assessment may include:
o provision of an oral assessment, rather than a written assessment
o provision of extra time
o use of adaptive technology.
The focus of the adjusted assessment should be on enabling the participants to demonstrate that they
have achieved the subject purpose, rather than on the method used.
e) Appeals Process
Full details of the KOI Assessment and Assessment Appeals Policy may be obtained in hard copy from
the Library, and on the KOI website www.koi.edu.au under Policies and Forms.
Assessments and Mid-Trimester Exams:
Where students are not satisfied with the results of an assessment, including mid-trimester exams, they
have the right to appeal. The process is as follows:
o Discuss the assessment with their tutor or lecturer – students should identify where they feel more
marks should have been awarded – students should provide valid reasons based on the marking
guide provided for the assessment. Reasons such as “I worked really hard” are not considered
valid.
o If still not satisfied, students should complete an Application for Review of Assessment Marks form,
detailing the reason for review. This form can be found on the KOI website and is also available at
KOI Reception (Kent St, Market St and O’Connell St).
o Application for Review of Assessment Marks forms must be submitted as explained on the form
within ten (10) working days of the return of the marked assessment, or within five (5) working days
after the return of the assessment if the assessment is returned after the end of the trimester.
Review of Grade – whole of subject and final exams:
Where students are not satisfied with the results of the whole subject or with their final exam results,
they have the right to request a Review of Grade – see the Assessment and Assessment Appeals
Policy for more information.
An Application for Review of Grade/Assessment Form (available from the KOI Website under Policies
and Forms and from KOI Reception at Kent St, Market St and O’Connell St) should be completed
clearly explaining the grounds for the application. The completed application should be submitted as
explained on the form, with supporting evidence attached, to the Academic Manager.
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