Financial Accounting

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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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

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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.

Approved by KOI Academic Board for T2 2020

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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.

Approved by KOI Academic Board for T2 2020