Overview
This unit, which builds on the work you undertook in ACCT19062 Intermediate Financial Accounting, develops your professional competence in accounting to an advanced level. In this unit, you will interpret and apply the requirements of a selection of Australian accounting standards that address advanced issues in financial reporting including the accounting requirements applied to different types of inter-entity investment relationships.
Details
Pre-requisites or Co-requisites
Pre-requisite: ACCT19062
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 2 - 2018
Attendance Requirements
All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure – International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback – Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from Teaching staff
Students do not have knowledge of basic financial instruments such as share options, index futures, and debt instruments issued at a discount or a premium.
Additional material should be provided so that students can understand these types of financial instruments. Consideration should be given to introducing students to financial instruments in earlier financial accounting units.
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
- Exercise professional judgement to apply the requirements of relevant accounting standards and conceptual accounting knowledge to solve advanced accounting problems
- Justify and communicate accounting advice and ideas in straightforward contexts to influence specialists and non-specialists
- Reflect on performance feedback to identify and action learning opportunities and self-improvements
Not applicable.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Online Quiz(zes) - 5% | ||||
| 2 - Written Assessment - 45% | ||||
| 3 - Examination - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Alignment of Assessment Tasks to Graduate Attributes
| Assessment Tasks | Graduate Attributes | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | |
| 1 - Online Quiz(zes) - 5% | ||||||||||
| 2 - Written Assessment - 45% | ||||||||||
| 3 - Examination - 50% | ||||||||||
Textbooks
Financial Reporting
2nd edition (2018)
Authors: Loftus, J., Leo, K. J., Daniluc, S., Boys, N., Luke, B., Ang, H. N., & Byrnes, K.
John Wiley & Sons
Milton Milton , Qld , Australia
ISBN: 9780730350538
Binding: Paperback
Additional Textbook Information
The publisher (John Wiley & Sons) also provides two digital versions of the textbook:
(1) Basic E-Text (ISBN 9780730344551), and
(2) E-Text with WileyPLUS Learning Space with Orion (ISBN 9780730350439).
You should note that the intention of the publisher is that this title is meant to be used as a digital textbook.
Therefore, the print version is a basic black and white version of the textbook and does not include the interactive features, videos and other media that the digital versions have.
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Office or equivalent (wordprocessing)
All submissions for this unit must use the referencing style: American Psychological Association 6th Edition (APA 6th edition)
For further information, see the Assessment Tasks.
d.keene@cqu.edu.au
Module/Topic
Introduction to accounting for different investor-investee relationships
Chapter
Events and Submissions/Topic
Assessment Task 1 (PeerWise) opens at 09:00 AEST on Monday 9 July 2018.
Module/Topic
Financial Instruments
Chapter
Chapter 11
AASB 9 Financial Instruments
AASB 132 Financial Instruments: PresentationEvents and Submissions/Topic
Module/Topic
Accounting for company income tax
Chapter
Chapter 12
AASB 112 Income Taxes
Events and Submissions/Topic
Module/Topic
Business combinations
Chapter
Chapter 25
AASB 3 Business Combinations
Events and Submissions/Topic
Module/Topic
Consolidation: controlled entities and wholly owned subsidiaries
Chapter
Chapters 26 and 27
AASB 10 Consolidated Financial StatementsEvents and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Consolidation: intragroup transactions
Chapter
Chapter 28
AASB 10 Consolidated Financial Statements
Events and Submissions/Topic
Assessment Task 2 (Written assessment): Part A due by 23:45 AEST on Tuesday 21 August 2018.
Module/Topic
Consolidation: non-controlling interest
Chapter
Chapter 29
AASB 10 Consolidated Financial Statements
Events and Submissions/Topic
Module/Topic
Associates and joint ventures
Chapter
Chapter 31
AASB 128 Investments in Associates and Joint Ventures
Events and Submissions/Topic
Module/Topic
Foreign currency transactions
Chapter
Chapter 23
AASB 121 The Effects of Changes in Foreign Exchange Rates
Events and Submissions/Topic
Assessment Task 2 (Written assessment): Part B due by 23:45 AEST on Tuesday 11 September 2018.
Module/Topic
Translation of financial statements
Chapter
Chapter 24
AASB 121 The Effects of Changes in Foreign Exchange RatesEvents and Submissions/Topic
Module/Topic
Forward exchange contracts
Chapter
Chapter 23
AASB 9 Financial Instruments
Events and Submissions/Topic
Assessment Task 1 (PeerWise) reputation scores downloaded at 17:00 AEST on Friday 28 September 2018.
Module/Topic
Revision
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
PeerWise is a place where you can create, share and evaluate questions with other students in the unit.
PeerWise can be accessed through this webpage:http://peerwise.cs.auckland.ac.nz/at/?cqu_au
Registering for PeerWise
If you have not used PeerWise before you will need to register and create a PeerWise account.
To do this, click on the 'Registration' link on the PeerWise webpage and follow the prompts to register. This involves four steps:
- Choose a username.
- Choose a password.
- Enter the 'Unit ID' for the unit you would like to join: the Unit ID for ACCT19061 Advanced Financial Accounting for Term 2 2018 is 17315.
- Enter your 'identifier' to join the unit: your identifier is your student number.
If you have used PeerWise before and already have an account, log in to PeerWise with your username and password.
You will then need to enter:
- The 'Unit ID' for ACCT19061 Advanced Financial Accounting for Term 2 2018 which is 17315.
- Your 'Identifier' which is your student number.
PeerWise Availability
PeerWise will be available from 09:00 AEST on Monday 9 July 2018 (Week 1).
At 17:00 AEST on Friday 28 September 2018 (Week 11), the Unit Coordinator will download the PeerWise reputation scores. Each student's reputation score will then be converted into a mark (in accordance with the assessment criteria) that will be recorded in the Moodle Gradebook.
Submission
You do not need to submit anything through Moodle; your reputation score will be automatically recorded as you use PeerWise.
PeerWise Guidelines
Guidelines for using PeerWise are provided in a 'PeerWise Information Sheet' that is available in Moodle.
1
Other
PeerWise reputation scores will be downloaded at 17:00 AEST on Friday 28 September 2018 (Week 11)
Your mark will be available in the Gradebook in Moodle in Week 12.
As you contribute to PeerWise, you will accumulate a reputation score that is composed of three parts:
- Writing questions (Questioning),
- Answering questions (Answering), and
- Rating questions you have answered (Rating).
You can see your reputation score in the top right-hand corner of PeerWise.
The PeerWise reputation scores will be converted into a mark out of 5 using the criteria in the 'PeerWise Information Sheet' that is available in Moodle.
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
- Exercise professional judgement to apply the requirements of relevant accounting standards and conceptual accounting knowledge to solve advanced accounting problems
- Reflect on performance feedback to identify and action learning opportunities and self-improvements
- Problem Solving
- Critical Thinking
2 Written Assessment
This assessment task is an individual assignment that comprises two parts.
1. Written assessment: Part A
- Is worth 20% of the total marks for the unit.
- Is due by 11.45 PM (23:45) AEST on Tuesday 21 August 2018 (Week 6).
2. Written assessment: Part B
- Is worth 25% of the total marks for the unit.
- Is due by 11.45 PM (23:45) AEST on Tuesday 11 September 2018 (Week 9).
Part A is due by 11.45 PM (23:45) AEST on Tuesday 21 August 2018 (Week 6); Part B is due by 11.45 PM (23:45) AEST on Tuesday 11 September 2018 (Week 9).
You will receive your assignment back two weeks from the submission date.
The assessment criteria (which will be available in Moodle) includes the following:
- The relevant technical requirements and conceptual aspects of accounting pronouncements have been identified and appropriately interpreted.
- The requirements of relevant accounting pronouncements, conceptual accounting knowledge, and (where applicable) professional judgement have been appropriately applied to solve advanced accounting problems.
- Written communication.
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
- Exercise professional judgement to apply the requirements of relevant accounting standards and conceptual accounting knowledge to solve advanced accounting problems
- Justify and communicate accounting advice and ideas in straightforward contexts to influence specialists and non-specialists
- Reflect on performance feedback to identify and action learning opportunities and self-improvements
- Communication
- Problem Solving
- Critical Thinking
Examination
Calculator - non-programmable, no text retrieval, silent only
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
