MPAC601-19T1 (C) Term One 2019

Professional Accounting Principles

15 points

Start Date: Monday, 28 January 2019
End Date: Sunday, 7 April 2019
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Friday, 8 February 2019
  • Without academic penalty (including no fee refund): Friday, 15 March 2019


Examines two main areas of professional accountancy, including double entry bookkeeping and law for professional accountants. The course develops the key principles required for those looking to advance through the MPA qualification.

This course covers two main areas of professional accountancy, including double entry bookkeeping and law for professional accountants.

The course develops the key principles required for those looking to advance through the MPA qualification.

By applying this core knowledge to their other courses within the MPA, the student will gain a foundation from which more advanced learning can be applied.

Learning Outcomes

Accounting Principles

(Learning Outcomes: 1,2,3,4)

 Review the New Zealand and Australian accounting framework for financial reporting
 Review and critique of the role and purpose of the External Reporting Board (XRB) in New Zealand
 Review and critique the Tier system for financial reporting in New Zealand and consider equivalent system(s) internationally.
 Consider the use of double entry book keeping to recognise and record transactions and events within the accountings system.
 Understand the definition and recognition criteria for assets, liabilities, expenses and revenues.
 Undertake the required journal entries to recognise accruals and provisions including closing and adjustment entries.
 Generate a set of financial statements in accordance with Generally Accepted Accounting Practice.


Business Law

(Learning Outcomes: 5,6)

 Review and critique the different legal structures for entities and individuals operating in New Zealand. This includes – companies, trusts, trading trusts, unincorporated societies and sole traders.
 Case study analysis of director responsibilities regarding the application of the Companies Act, Financial Reporting Act, The Securities Act and New Zealand Stock Exchange Rules.
 Distinguish the legal responsibilities that different legal entities have in New Zealand and Australia, looking specifically at those Acts of Parliament that relates to companies, trusts and incorporated societies


Subject to the approval of the Programme Director

Timetable Note

Term 1, 2019: Rehua 702; Tuesday 1:00 pm – 4:00 pm.



There will be nine tutorial sessions on key aspects during the term, starting in week 2. There are two streams Tuesdays 9:00 am – 10:00 am and 10:00 am – 11:00 am. You will be allocated to a tutorial time. They provide an opportunity to discuss key issues in more depth.

For tutorial locations, please check your My Timetable.



It is expected that the total workload for an average student, for background reading, lectures, tutorials, assignments and revision, will be 150 hours. To encourage active learning towards the achievement of the above learning outcomes, an average student’s workload is outlined below.

Learning and assessment activities  --  Time in units  --  Total time

Lecture Contact hours  --  ≈ 3 hours per week  --  30 hours

Self-directed and collaborative learning, including preparation for and follow up after lectures  --   ≈ 3 hours per week  --  30 hours

Tutorials, including preparation and follow up  --  ≈ 2.5 hours per week  --  23 hours

Learning Reflections  --  ≈ 1 hour per week  --  10 hours

Essay  --  Planning, research, writing, proof reading, editing, and reflecting on result  --  15 hours

Group Presentation  --  Planning, research, group collaboration, preparation of presentation, practice, and reflecting on result  --  15 hours

Group Project  --  Planning, research, group collaboration, writing/preparation of presentation, practice/editing, and reflecting on result  --  15 hours

Final Examination  --  3 hours in exam, plus preparation  --  12 hours

Total  --  150 hours


Course Coordinator

Catherine McMillan


Julia Wu


Learning Reflections -- Weekly by Monday 5:00pm, from the second week. -- 15%

Essay -- 1:00pm, Tuesday 19 February 2019 -- 15%

Group Presentation -- Week 5 (26 February ) and Week 6 (5 March ) -- (Group mark) 15%

Group Project -- 1:00 pm, Tuesday26 March 2019 -- (Group mark) 15%

Final Examination -- Friday 5 April 2019, time to be advised -- 40%


Forty-five Per cent Rule

There is a requirement that students are required to average not less than 45 per cent in the invigilated components of their assessments in order to pass the course as a whole. ‘Invigilated’ means ‘formally supervised under exam conditions’. In MPAC601, the invigilated component is the Final Examination.



Note that aegrotats are not available for any item of assessment in this course without the prior approval of the Director, Executive Development Programmes in consultation with the lecturer. Wherever possible and with the lecturer’s agreement, a replacement assessment will be sought in each case where a student has not been (with valid reason) able to submit or has been disadvantaged in some way.


Oral Examinations
Lecturers reserve the right to orally examine students on any submitted piece of work, including the final examination.



The essays must be submitted through the link provided on the MPAC601 LEARN site. A Turnitin originality report is generated for each item submitted. The report is generated by comparing your essays to millions of other documents, including articles, web sites and other student scripts, and identifying similarities.


NOTE: UC General Course and Examination Regulations

Appeals and Grievances

Special Consideration

Special Consideration Application

Textbooks / Resources

Required Text:

Mitrione, L., M. Rankin, K Chambers, J.J. Weygandt, D .E Kieso and P. D Kimmel (2013). Principles of Financial Accounting, 3rd edition, Milton Qld: John Wiley & Sons Australia Ltd.

The text is available for purchase from UBS (The University Bookshop) and is also available on 3-hour restricted loan in the Central Library (call no. HF 5635 P957 2013). An electronic version of the text in a word searchable format can be purchased online:

This text is referred to as ‘Mitrone’ throughout the remainder of this Course Outline.

This text is, in most weeks, Essential Reading for the course. Contemporary journal articles, website links, etc. will also be placed on Learn as Additional Reading. Although you are not expected to read all this material, as a Masters level student you will gain higher marks by demonstrating knowledge of some of this material, especially in your Essay, Group Presentation and Group Project.

Course links


Indicative Fees

Domestic fee $1,193.00

* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.

Minimum enrolments

This course will not be offered if fewer than 10 people apply to enrol.

For further information see Business Taught Masters Programmes .

All MPAC601 Occurrences

  • MPAC601-19T1 (C) Term One 2019