CQUniversity Unit Profile
ACCT19061 Advanced Financial Accounting
Advanced Financial Accounting
All details in this unit profile for ACCT19061 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student).
The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.
General Information

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

Career Level: Undergraduate
Unit Level: Level 3
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

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 1 - 2019

Brisbane
Melbourne
Online
Sydney

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).

Class and Assessment Overview

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

Bundaberg, Cairns, Emerald, Gladstone, Mackay, Rockhampton, Townsville
Adelaide, Brisbane, Melbourne, Perth, Sydney

Assessment Overview

1. Online Quiz(zes)
Weighting: 5%
2. Written Assessment
Weighting: 45%
3. Examination
Weighting: 50%

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.

Previous Student Feedback

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

Feedback

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.

Recommendation

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.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
  2. Exercise professional judgement to apply the requirements of relevant accounting standards and conceptual accounting knowledge to solve advanced accounting problems
  3. Justify and communicate accounting advice and ideas in straightforward contexts to influence specialists and non-specialists
  4. Reflect on performance feedback to identify and action learning opportunities and self-improvements

Not applicable.

Alignment of Learning Outcomes, Assessment and Graduate Attributes
N/A Level
Introductory Level
Intermediate Level
Graduate Level
Professional Level
Advanced Level

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 and Resources

Textbooks

Prescribed

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

This text can be purchased at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code).

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft Office or equivalent (wordprocessing)
Referencing Style

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.

Teaching Contacts
David Keene Unit Coordinator
d.keene@cqu.edu.au
Schedule
Week 1 Begin Date: 11 Mar 2019

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 11 March 2019

Week 2 Begin Date: 18 Mar 2019

Module/Topic

Financial instruments

Chapter

Chapter 11

AASB 9 Financial Instruments

AASB 132 Financial Instruments: Presentation

Events and Submissions/Topic


Week 3 Begin Date: 25 Mar 2019

Module/Topic

Income taxes

Chapter

Chapter 12

AASB 112 Income Taxes


Events and Submissions/Topic

Week 4 Begin Date: 01 Apr 2019

Module/Topic

Business combinations

Chapter

Chapter 25

AASB 3 Business Combinations

Events and Submissions/Topic

Week 5 Begin Date: 08 Apr 2019

Module/Topic

Consolidation: controlled entities and wholly owned entities

Chapter

Chapters 26 and 27

AASB 10 Consolidated Financial Statements

Events and Submissions/Topic

Vacation Week Begin Date: 15 Apr 2019

Module/Topic

Chapter

Events and Submissions/Topic

Week 6 Begin Date: 22 Apr 2019

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 23 April 2019

Week 7 Begin Date: 29 Apr 2019

Module/Topic

Consolidation: non-controlling interest

Chapter

Chapter 29

AASB 10 Consolidated Financial Statements


Events and Submissions/Topic

Week 8 Begin Date: 06 May 2019

Module/Topic

Associates and joint ventures

Chapter

Chapter 31

AASB 128 Investments in Associates and Joint Ventures


Events and Submissions/Topic

Week 9 Begin Date: 13 May 2019

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 14 May 2019 

Week 10 Begin Date: 20 May 2019

Module/Topic

Translation of foreign currency financial statements

Chapter

Chapter 24

AASB 121 The Effects of Changes in Foreign Exchange Rates

Events and Submissions/Topic

Week 11 Begin Date: 27 May 2019

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 31 May 2019

Week 12 Begin Date: 03 Jun 2019

Module/Topic

Revision

Chapter

Events and Submissions/Topic

Review/Exam Week Begin Date: 10 Jun 2019

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 17 Jun 2019

Module/Topic

Chapter

Events and Submissions/Topic

Assessment Tasks

1 Online Quiz(zes)

Assessment Title
PeerWise

Task Description

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 1 2019 is 18688.
  • 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 1 2019 which is 18688.
  • Your 'Identifier' which is your student number.

PeerWise Availability

PeerWise will be available from 09:00 AEST on Monday 11 March 2019 (Week 1).

At 17:00 AEST on Friday 31 May 2019 (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.


Number of Quizzes

1


Frequency of Quizzes

Other


Assessment Due Date

PeerWise reputation scores will be downloaded at 17:00 AEST on Friday 31 May 2019 (Week 11)


Return Date to Students

Your mark will be available in the Gradebook in Moodle in Week 12.


Weighting
5%

Assessment Criteria

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.


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • 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


Graduate Attributes
  • Problem Solving
  • Critical Thinking

2 Written Assessment

Assessment Title
Written assessment

Task Description

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 23 April 2019 (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 14 May 2019 (Week 9).

Full details of this assessment task (including the specific questions and the assessment criteria) will be available in Moodle at the commencement of the term.


Assessment Due Date

Part A is due by 11.45 PM (23:45) AEST on Tuesday 23 April 2019 (Week 6); Part B is due by 11.45 PM (23:45) AEST on Tuesday 14 May 2019 (Week 9).


Return Date to Students

You will receive your assignment back two weeks from the submission date.


Weighting
45%

Assessment Criteria

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.


Referencing Style

Submission
Online

Submission Instructions
Submit through Moodle

Learning Outcomes Assessed
  • 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


Graduate Attributes
  • Communication
  • Problem Solving
  • Critical Thinking

Examination

Outline
Complete an invigilated examination

Date
During the examination period at a CQUniversity examination centre

Weighting
50%

Length
180 minutes

Exam Conditions
Closed Book

Materials
Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Calculator - non-programmable, no text retrieval, silent only
Academic Integrity Statement

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?