MPAC601-21T1 (C) Term One 2021

Professional Accounting Principles

15 points

Start Date: Monday, 1 February 2021
End Date: Sunday, 25 April 2021
Withdrawal Dates
Last Day to withdraw from this course:
  • Without financial penalty (full fee refund): Sunday, 14 February 2021
  • Without academic penalty (including no fee refund): Friday, 2 April 2021


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 several major areas of professional accountancy, and includes 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 provides a foundation of core knowledge which students will then be able to apply to their more advanced learning.

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


One-hour tutorial sessions on key aspects covered during the term, will also be held. Details to be advised. They provide an opportunity to discuss key issues in more depth. Details will be advised at the first lecture.

Course Coordinator

Rob Vosslamber

Meremere 515



Class presentation  --  Details to be advised  --  Weeks 4 and 5  --  10%

Essay  --  5.00 pm, Mon 22 Feb  --  15%

Term test  --  Week 6 (2 hours)  --  25%

MYOB Project  --  8.30 am Wed 8 Apr (Individual Mark)  --  10%

Final Examination  --  Week beginning 20 Apr, time and classroom to be advised (3 hours)  --  40%

Textbooks / Resources

Required Texts

Carlon, Shirley; Financial accounting : reporting, analysis and decision making ; Sixth edition; John Wiley & Sons Australia, Ltd, 2019.

Required Text

Carlon, S., McAlpine, R., Lee, C, Mitrione, L., Kirk, N., and Wong, L., (2019), Financial Accounting: Reporting, Analysis and Decision Making (6th Ed.), Milton, Qld: Wiley.

The text is available for purchase from UBS (The University Bookshop) and is also available on restricted loan in the Central Library. An electronic version of the text in a word searchable format can be purchased online here.  This text is, in most weeks, essential reading for the course.

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

Other Reading

Contemporary journal articles, website links, etc. will also be placed on LEARN as additional reading. As a Masters level student you are expected to engage with this material, and are likely to gain better grades by demonstrating knowledge of this material, especially in your Essay, Group Presentation and Group Project.

Course links


Indicative Fees

Domestic fee $1,231.00

* 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

  • MPAC601-21T1 (D) Term One 2021 (Distance) - Not Offered
  • MPAC601-21T1 (C) Term One 2021