Finance and Management


30 April 2023 11:44 AM | UPDATED 7 months ago




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 of ACC701 FINANCIAL ACCOUNTING

1.1   Administrative Details

Associated HE Award(s)DurationLevelSubject Coordinator
Graduate Diploma of Business Master of Accounting Master of Professional Accounting1 trimesterPostgraduateMeth Hewa [email protected] P: +61 (2) 9283 3583 L: Level 1, 545 Kent St. Consultation: via Moodle or by appointment
  1. 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 FINANCIAL Subject Weighting

Indicated below is the weighting of this subject and the total course points.

Subject Credit PointsTotal Course Credit Points
4GDBus 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***
3 hours/week plus supplementary online material7 hours/week10 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. Mode of Delivery    Mode of Delivery Classes will be face-to-face or hybrid. Certain classes will be online (e.g., special arrangements).
  1. Pre-requisites         ACC700 Principles of Accounting

1.7  General Study and Resource Requirements

  • 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.
  • 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.
  • 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 smartphones will not be sufficient to perform the required calculations in class.

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 from their major area of study in a range of contexts for professional practice or scholarship and as a pathway for further learning.

King’s Own Institute’s generic graduate attributes for master’s level degree are summarised below:

 KOI Master’s Degree Graduate AttributesDetailed Description
    KnowledgeCurrent, comprehensive and coherent knowledge, including recent developments and applied research methods
    Critical ThinkingCritical thinking skills to identify and analyse current theories and developments and emerging trends in professional practice
    CommunicationCommunication and technical skills to analyse and theorise, contribute to professional practice or scholarship, and present ideas to a variety of audiences
    Research and Information LiteracyCognitive and technical skills to access and evaluate information resources, justify research approaches and interpret theoretical propositions
    Creative Problem Solving SkillsCognitive, 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 SensitivityAppreciation and accountability for ethical principles, cultural sensitivity and social responsibility, both personally and professionally
        Leadership and StrategyInitiative, 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 SkillsHigh level personal autonomy, judgement, decision- making and accountability required to begin professional practice

Across the course, these skills are developed progressively at three levels:

  • Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply them in stand-alone contexts
  • 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.
  • 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.

2.3  Subject Learning Outcomes

Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject:

Subject Learning OutcomesContribution 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 MarAccounting regulation and the conceptual frameworkLoftus: Ch. 1Analysis Exercises 1.2, 1.4, 1.7, 1.8, 1.13
2 13 MarStatement of cash flowsLoftus: Ch. 17 AASB 107Analysis Exercises 17.6, 17.7, 17.8, 17.9
3 20 MarRevenueLoftus: Ch. 15 AASB 15Analysis Exercises 15.1, 15.2, 15.6, 15.10
  4 27 Mar  Intangible assets  Loftus: Ch. 6 AAS8 138Analysis Exercises 6.9, 6.10, 6.11, 6.12 Formative Assessment: Moodle MC Quiz
5 03 AprEmployee benefitsLoftus: Ch. 9 AASB 119Analysis Exercises 9.17, 9.18, 9.19, 9.21
6 11 Apr (Tue)  Mid trimester test Assignment review Mid trimester exams
7 17 Apr  Share-based paymentsLoftus: Ch. 14 AASB 2Analysis Exercises 14.8, 14.9, 14.11, 14.12
8 24 Apr  LeasesLoftus: Ch. 10 AASB 16Analysis Exercises 10.16, 10.17, 10.18, 10.19
    9 01 May    Financial instruments Part I  Ch. 11 (pp. 401-415) AASB 7, 9, 132Case study due Deferred mid trimester exams – see Section 2.6 below for more information Analysis Exercises 11.1, 11.2, 11.5, 11.7
  10 08 May  Financial instruments Part IILoftus: Ch. 11 (pp. 416-454) AASB 7, 9, 132Analysis Exercises 11.4, 11.6, 11.8, 11.9
11 15 May  Earnings per shareLoftus: Ch. 19 AASB 133Analysis Exercises 19.3, 19.6, 19.9, 19.10
  12 22 May  Revision lecture Revision exercises Analysis Exercises 9.16, 14.10, 10.15, 11.3, 19.7
13 29 MayStudy Review Week  
  14 05 JunFinal Exam Week and Final Exam Week Continuing students – enrolments for T123 open  Please see exam timetable for exam date, time and location
15 12 JunStudent Vacation begins New students – enrolments for T123 open
    16 19 JunResults ReleasedReview of Grade Day for T322 – see Sections 2.6 and 3.2 below for relevant information.Certification of Grades   NOTE: More information about the dates will be provided at a later date through Moodle/KOI email.
T223 03 Jul 2023
1 03 JulWeek 1 of classes for T223

2.5  Public Holiday Amendments

Please note: KOI is closed on all scheduled NSW Public Holidays.

T123 has four (4) public holidays that occur during this trimester. Classes scheduled for these public holidays (Calendar Class Dates) will be rescheduled as per the table below.

This applies to ALL subjects taught in T123.

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 T123 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 DateRescheduled Class Date
Friday 07 April 2023 Saturday 08 April 2023 Monday 10 April 2023 Tuesday 25 April 2023Monday 29 May 2023 Tuesday 30 May 2023 Wednesday 31 May 2023

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 marking criteria. Section 8 of the Assessment and Assessment Appeals Policy ( describes the grounds on which you may apply for a Review of Grade.

If you have a concern about your marks and you are unable to resolve it with the Academic staff concerned, then you can apply for a formal Review of Grade as explained in section 3.2(e) Appeals Process below. Please note the time limits for requesting a review. Please ensure you read the Review of Grade information before submitting an application.

Review of Grade Day:

Final exam scripts will not normally be returned to students. Students can obtain feedback on their exam performance and their results for the whole subject at the Review of Grade Day. KOI will hold the Review of Grade Day for all subjects studied in T123. The ROG day will be in Week 16, the date will be announced at a later date and the students will be notified through Moodle/KOI email.

Only final exams and whole subject results will be discussed as all other assessments should have been reviewed during the trimester. Further information about Review of Grade Day will be available through Moodle.

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 and subject result 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 because you are unable to attend the scheduled exam, you should submit the Assignment Extension / Exam Deferment Form available contacting [email protected] as soon as possible, but no later than three (3) working days of the assessment due date.

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 ACC701 FINANCIAL ACCOUNTING 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.

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:

  • are offered a supplementary ACC701 FINANCIAL ACCOUNTING assessment, but fail it;
  • are offered a supplementary exam, but do not attend; or
  • are offered a supplementary assessment but do not submit by the due date; you will receive a FAIL grade for the subject.

Students are also 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 ACC701 FINANCIAL ACCOUNTING assessment for the final subject in your course, but have not received an offer, complete the Complaint, Grievance, Appeal Form and send your form to [email protected]. The deadline for applying for supplementary assessment is the Friday of the first week of classes in the next trimester.

2.7  Teaching Methods/Strategies

Briefly described below are the teaching methods/strategies used in this subject:

Text Box: o	Lectures (1 hour/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  WeightingLearning Outcomes Assessed
Assessment 1: Formative assessment  Week 4  0%  a, b, c
Assessment 2: Mid trimester testWeek 620%a, b, c, d,
Assessment 3: Case studyWeek 930%c, d
  Assessment Type  When Assessed  WeightingLearning Outcomes Assessed
Assessment 4: Final examination On-campus: 2 hours + 10 mins reading time Online: 2 hours + 30 mins technology allowanceFinal Exam Week50%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.

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., 2022. Financial reporting. 4th ed. Milton, QLD John Wiley and Sons Australia Ltd. Available from: ProQuest Ebook Central.

Recommended Readings:

Abeysekera, I., 2021. Intellectual Capital and Knowledge Management Research towards Value Creation. From the Past to the Future. Journal of Risk and Financial Management, 14(6), p.238. (Link will be provided on Moodle)

Abeysekera, I., 2020. Intangibles Disclosure on Entrepreneurial Small Business’ Websites to Influence Stakeholders’ Impressions. Australian Accounting Review, 30(1), pp.22-32.

Yang, Y. & Abeysekera, I. (2022), Underlying Profits and Financial Reporting Quality in Australia, International Journal of Business Information Systems, Vol. 40, No. 1, pp. 1-23. (Link will be provided on Moodle)

Carlon, S., Mladenovic-McAlpine, R., Palm, C., Mitrione, L., Kirk, N. and Wong, L., 2021. Financial Accounting: Reporting, Analysis and Decision Making. 7th ed. Wiley.

Deegan, C., 2020. Financial accounting. 9th ed. McGraw-Hill Education, North Ryde, NSW.

Hewa, S.I., Mala, R. and Chen, J., 2020. IASB’s independence in the due process: an examination of interest groups’ influence on the development of IFRS 9. Accounting & Finance, 60(3), pp.2585-2615. (Link will be provided on Moodle)

Hogget, J., Medlin, J., Chalmers, K., Beattie, C., Hellmann, A. and Maxfield, J., 2021. Accounting. 11thed. Queensland: John Wiley and Sons Australia, Ltd. Available from: ProQuest Ebook Central.

Kamaruddin, K. and Abeysekera, I., 2021. Intellectual Capital and Sustainable Economic Performance in the Public Sector: The Context of the New Public Management in Malaysia. Sustainability, 13(14), p.7885.

Lu, Y. and Abeysekera, I., 2021. Do investors and analysts value strategic corporate social responsibility disclosures? Evidence from China. Journal of International Financial Management & Accounting, 32(2), pp.147-181. (Link will be provided on Moodle)

Abeysekera, I. (2022), “A framework for sustainability reporting”, Sustainability Accounting, Management and Policy Journal, Vol. 13 No.6, pp. 1386-1409. (Link will be provided on Moodle)

Australian Accounting Standards:

Australian Accounting Standards are available for viewing or downloading from the AASB’s homepage (

References available from EBSCOhost research databases:

  • Financial Review (Australia)
  • Accounting and Finance
  • Accounting, Auditing & Accountability Journal
  • Accounting Research Journal
  • Accounting Review
  • Acuity
  • Australasian Accounting, Business and Finance Journal
  • Australian Journal of Accounting Education
  • Australian Journal of Management
  • In The Black
  • Journal of Accounting and Economics
  • 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.

The following websites may be useful in interpreting the International AASB Standards:

3.   Assessment Details

3.1  Details of Each Assessment Item

The ACC701 FINANCIAL ACCOUNTING 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: Formative Assessment – Online Quiz (Compulsory- no weight)

Purpose: This assessment is designed to reinforce subject content taught each week allowing students to apply accounting principles to analyse and evaluate student comprehension, learning needs, and academic progress. The purpose of this assessment is to promote learning by considering the progress of each individual student at the early stage of trimester. This contributes to learning outcomes a, b and c.

Value: 0%                     Due Date: Week 4 Sunday 11.59 pm. Topic: Weekly subject content.

Task Details:

Each student is required to attempt the diagnostic online quiz through Moodle during week 4. This quiz consists of 10 multiple choice questions that will cover contents from topics 1, 2 and 3. This assessment is not graded.

This quiz will be located on the KOI Moodle subject homepage and will close at 11.59pm Sunday of Week 4.

Assessment 2

Assessment Type: Mid trimester test – Individual Assessment – invigilated open 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 3

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 via the Moodle assignment link on the KOI Moodle ACC701 homepage by 8.00 pm AEST time on Wednesday of Week 9.

Topic: Reporting and Disclosure of Revenue

Task Details: Each student is required to choose one ASX listed firm and analyse its financial statement of the financial year ending in 2022. The analysis must focus on discussing the firm’s reporting and disclosure practices on revenue. In the discussion, detail the accounting policy that the firm follows in reporting, measuring, and disclosing its revenue, and provide an analysis of accounting policies. The discussion must evaluate the current accounting treatment for the recognition and measurement of revenue under AASB15.

Note that the chosen firm must NOT be in the mining or the banking industry.

Research requirements: Students need to support their analysis with reference to relevant material from the textbook and minimum of eight (8) suitable, reliable, current, and academically acceptable sources – this should include at least 2 peer-reviewed academic journal articles.

Presentation: 2000 words (+/- 10%) short report format. Title page, executive summary, table of contents, appropriate headings and subheadings, recommendations/findings/conclusions, in-text referencing, and reference list (Harvard – Anglia style), attachments if relevant (as screenshots). Single spaced, font Times New Roman 12pt, Calibri 11pt or Arial 10pt.

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.

  CriteriaFail (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 inaccuraciesProvides 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 errorsPerforms 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 overlookedDescribes 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.
  CriteriaFail (0 – 49%)Pass (50 – 64%)Credit (65 – 74%)Distinction (75 – 84%)High Distinction (85 – 100%)
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 al 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:

Marking Rubric Assessment 3: 30%

Assessment 4

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: On-campus: 2 hours + 10 mins reading time. Online: 2 hours + 30 mins technology allowance.

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.

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

  1. 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. Completing assessment tasks on time is a good way to master these habits.

Students who miss mid-trimester tests and final exams without a valid and accepted reason may not be granted a deferred exam and will be awarded 0 marks for the assessment item. Assessment items which are missed or submitted after the due date/time will attract a penalty unless there is a compelling

reason (see below). These penalties are designed to encourage students to develop good time management practices, and to 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 and Quizzes (excluding Mid-Trimester Tests)

  • Generally, extensions are not permitted. A make-up test may only be permitted under very special circumstances where acceptable supporting evidence of illness, hardship or unavoidable problems preventing completion of the assessment is provided (see section (b) below). The procedures and timing to apply for a make-up test (only if available) are as shown in the section Applying for an Extension (see below).
  • Missing a class test will result in 0 marks for that assessment item unless the above applies.

Written Assessments and Video Assessments

  • There is a late penalty of 5% of the total available marks per calendar day unless an extension is approved (see Applying for an Extension section below).


  • Generally, extensions are not permitted. Missing a presentation will result in 0 marks for that assessment item. The rules for make-up presentations are the same as for missing in-class tests (described above).

For group presentations, if serious circumstances prevent some members of the group from participating, the members of the group who are present should make their contributions as agreed. If a make-up presentation is approved, the other members of the group will be able to make their individual presentation later and will be marked according to the marking rubric. A video presentation may be used to facilitate the process.

Mid-Trimester Tests and Final Exams

If students are unable to attend mid-trimester tests or final exams due to illness, hardship or some other unavoidable problem (acceptable to KOI), they must:

  • Complete the Assignment Extension / Exam Deferment Form available by contacting [email protected] as soon as possible, but no later than three (3) working days after the exam date.
  • Provide acceptable documentary evidence (see section (b) below).
  • Agree to attend the deferred exam as set by KOI if a deferred exam is approved.

Deferred exam

  • There will only be one deferred exam offered.
  • Marks obtained for the deferred exam will be the marks awarded for that assessment item.
  • If you miss the deferred exam you will be awarded 0 marks for the assessment item. This may mean you are unable to pass the subject.

b)      Applying for an Extension

If students are unable to submit or attend an assessment when due, they must

  • Complete the Assignment Extension / Exam Deferment Form available by contacting [email protected] as soon as possible, but no later than three (3) working days of the assessment due date.
  • Provide acceptable documentary evidence in the form of a medical certificate, police report or some other appropriate evidence of illness or hardship, or a technician’s report on problems with

computer or communications technology, or a signed and witnessed statutory declaration explaining the circumstances.

  • Students and lecturers / tutors will be advised of the outcome of the extension request as soon as practicable.

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 in marks 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:

  • 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.
  • Copying / cheating in tests and exams is academic misconduct. Such incidents will be treated just as seriously as other forms of plagiarism.
  • Students who willingly allow another student to copy their work in any assessment may be considered to assist 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 for the subject. For assessment, this means that barriers to their demonstrating competence are removed wherever it is reasonably practical to do so.

Examples of reasonable adjustment in assessment may include:

  • provision of an oral assessment, rather than a written assessment
  • provision of extra time
  • use of adaptive technology.

The focus of the adjusted assessment should be on enabling the student to demonstrate achievement of the learning outcomes for the subject, rather than on the method of assessment.

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 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:

  • 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.
  • If still not satisfied, students should complete an Application for Review of Assessment Marks form, clearly explaining the reasons for seeking a review. This form is available from the KOI website under Policies and Forms and is also available at KOI Reception (Kent St, Market St and O’Connell St). The completed Application for Review of Assessment Marks form should be submitted as explained on the form with supporting evidence attached to [email protected] .
  • The form must be submitted 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 [email protected] .


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