Unit Profile Correction added on 08-08-22
Students are advised that in compliance with external accreditation
requirements, this unit includes instruction on the types and uses of
accounting theory, and how they support financial reporting. You will
find the relevant resources in Moodle.
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 - 2022
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 Students
Students indicated, through an informal poll, that they would benefit from more time on the topic of financial instruments.
Change the schedule to spend two weeks (rather than the present one week) on financial instruments.
- 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 - Online Test - 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 | ||||
Textbooks
Financial Reporting
3rd Edition (2019)
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: 9780730369462
Binding: Paperback
Additional Textbook Information
This book is available to read online through the Library website. If you would like your own copy, you can purchase either paper or eBook copies at the CQUni Bookshop here: http://bookshop.cqu.edu.au (search on the Unit code).
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 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
d.keene@cqu.edu.au
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 11
AASB 9 Financial Instruments
AASB 132 Financial Instruments: Presentation
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 12
AASB 112 Income Taxes
Events and Submissions/Topic
Assessment Task 1
Online Quiz available from 09:00 AEST Monday 25 July 2022 to 21:00 AEST Friday 29 July 2022
Module/Topic
Chapter
Chapters 25 and 26
AASB 3 Business Combinations
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 27
AASB 10 Consolidated Financial Statements
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 28
AASB 10 Consolidated Financial Statements
Events and Submissions/Topic
Assessment Task 2
Written assessment (Part A) due by 23:45 AEST Wednesday 24 August 2022
Module/Topic
Chapter
Chapter 29
AASB 10 Consolidated Financial Statements
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 31
AASB 128 Investments in Associates and Joint Ventures
Events and Submissions/Topic
Module/Topic
Chapter
Chapter 31
AASB 128 Investments in Associates and Joint Ventures
Events and Submissions/Topic
Assessment Task 2
Written assessment (Part B) due by 23:45 AEST Wednesday 14 September 2022
Module/Topic
Chapter
Chapter 23
AASB 121 The Effects of Changes in Foreign Exchange Rates
Events and Submissions/Topic
Module/Topic
Forward exchange contracts
Chapter
Chapter 23
AASB 9 Financial Instruments
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
The online quiz has a weighting of 5% of the total marks for the unit.
The online quiz will be available in Moodle as follows:
- Open: 09:00 (9:00 AM) AEST Monday of Week 3 (25 July 2022), and
- Close: 21:00 (9:00 PM) AEST Friday of Week 3 (29 July 2022.
The online quiz consists of 20 multiple choice questions.
The online quiz assesses the content from Week 1 (Introduction to accounting for different investor-investee relationships) and Week 2 (Financial Instruments).
The online Quiz is open-book.
The duration of the online quiz is 40 minutes from when you start it.
The online quiz must be completed during the time that it is open. In the absence of an approved extension, there will be no opportunity to complete the online quiz after it closes.
Results will be available in Moodle immediately after completion of the online quiz
Each question has one correct answer.
Each correctly answered question is awarded 0.25 marks.
No submission method provided.
- 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.
2 Written Assessment
This assessment task comprises two individual assignments:
1. Written assessment: Part A
- Has a weighting of 20% of the total marks for the unit.
- Is due by 23:45 (11:45 PM) AEST on Wednesday of Week 6 (24 August 2022).
2. Written assessment: Part B.
- Has a weighting of 25% of the total marks for the unit.
- Is due by 23:45 (11:45 PM) AEST on Wednesday of Week 9 (14 September 2022).
Full details of this assessment task will be available in Moodle at the commencement of the term. The information in Moodle will include the specific questions and the detailed assessment criteria.
You will receive your assignment back two weeks from the submission date
The assessment criteria (which will be available in Moodle) includes:
- Justifying and communicating accounting advice and ideas to influence specialists and/or non-specialists.
- Reflecting on performance feedback to identify and action learning opportunities and self-improvements.
No submission method provided.
- 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.
3 Online Test
This assessment task comprises an invigilated online test in Moodle.
The invigilated online test has a weighting of 50% of the total marks for the unit.
The invigilated online test will be scheduled during the university exam period.
You will be advised during the term of the scheduled date and time of the invigilated online test.
The duration of the invigilated online test is 3.5 hours.
The invigilated online test will be conducted in accordance with the School of Business & Law's Invigilation Protocols.
During the university examination period.
No Assessment Criteria
No submission method provided.
- 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
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?
