Overview
This unit examines the application of accounting theory, accounting standards and business law to the financial reporting of Australian companies. More specifically the topics being studied revolve around accounting for companies. The areas looked at include company operations, income tax, business combinations, liquidation, and consolidation. In this unit, the student will investigate the common types of corporate combinations and their corresponding accounting issues in relation to recording and reporting transactions. If you have successfully completed the unit ACCT20054 you should not enrol in this unit.
Details
Pre-requisites or Co-requisites
Students must successfully complete ACCT20071 Foundations of Financial Accounting prior to enrolling in this unit.
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 - 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 Postgraduate 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 Student evaluation
Students get to do practical exercises in class that help their learning.
The practice of allowing time during the workshop so that students can do practical exercises during class time will be continued.
Feedback from Student evaluation
Weekly group presentations should be tougher and more random so that every member of the group will be active.
Questions asked to assess students' comprehension of the previous week's topic will be tougher and asked more randomly to ensure active participation of all members of the groups.
Feedback from Student evaluation
The grade of the weekly group presentation was not explained to some students.
The grading of group presentations will be explained in the Unit Profile. Teaching staff will explain the grading to students in class and provide them immediate feedback about their weekly presentation and their grades.
- Analyse and report on how the conceptual framework and Australian accounting standards inform the recording and reporting of changes of business ownership, various forms of business combinations, and tax effect accounting.
- For given business problems involving changes of business ownership, various forms of business combinations, and tax effect accounting (and combinations of these), evaluate and select the correct accounting treatment and produce correct financial statements that comply with Australian accounting standards.
- Critically evaluate and report on reforms in company accounting based on sound theoretical principles.
- Critically evaluate and report on ethical issues in company accounting based on sound theoretical principles.
Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks | Learning Outcomes | |||
---|---|---|---|---|
1 | 2 | 3 | 4 | |
1 - Online Test - 10% | ||||
2 - Practical and Written Assessment - 30% | ||||
3 - Examination - 60% |
Alignment of Graduate Attributes to Learning Outcomes
Graduate Attributes | Learning Outcomes | |||
---|---|---|---|---|
1 | 2 | 3 | 4 | |
1 - Knowledge | ||||
2 - Communication | ||||
3 - Cognitive, technical and creative skills | ||||
4 - Research | ||||
5 - Self-management | ||||
6 - Ethical and Professional Responsibility | ||||
7 - Leadership | ||||
8 - 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 | |
1 - Online Test - 10% | ||||||||
2 - Practical and Written Assessment - 30% | ||||||||
3 - Examination - 60% |
Textbooks
Financial Accounting
8th edition (2016)
Authors: Deegan, C.
McGrawHill
North Ryde North Ryde , NSW , Australia
ISBN: 9781743764022
Binding: Paperback
Additional Textbook Information
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
- Microsoft Word
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.
n.steenkamp@cqu.edu.au
Module/Topic
Revaluation and impairment testing of non-current assets
Chapter
6
Events and Submissions/Topic
Module/Topic
Accounting for income taxes
Chapter
18
Events and Submissions/Topic
Module/Topic
Accounting for income taxes (continued)
Chapter
18
Events and Submissions/Topic
Assessment task 2: Part A (assesses chapter 6), return Monday 26 March at 11.45pm AEST
Practical and written assessment Due: Week 3 Monday (19 Mar 2018) 11:45 am AEST
Module/Topic
Accounting for group structures
Chapter
25
Events and Submissions/Topic
Module/Topic
Accounting for group structures (continued)
Chapter
25
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Further consolidation issues I: accounting for intragroup transactions
Chapter
26
Events and Submissions/Topic
Assessment task 2: Part B due Thursday 19 April at 11.45pm AEST (assesses Chapter 25), return Thursday 26 April at 11.45pm AEST
Module/Topic
Further consolidation issues I: accounting for intragroup transactions
Chapter
26
Events and Submissions/Topic
Module/Topic
Further consolidation issues II: accounting for non-controlling interests
Chapter
27
Events and Submissions/Topic
Assessment task 2: Part C due Thursday 3 May at 11.45pm AEST (assesses Chapter 26), return Thursday 10 May at 11:45pm AEST
Module/Topic
Further consolidation issues II: accounting for non-controlling interests
Chapter
27
Events and Submissions/Topic
Module/Topic
Accounting for leases
Chapter
11
Events and Submissions/Topic
Assessment task 1: On-line quiz opens at 1am and closes at 11.45 pm AEST on Tuesday 15 May
On-line test Due: Week 10 Tuesday (15 May 2018) 11:45 pm AEST
Module/Topic
Accounting for intangible assets
Chapter
8
Events and Submissions/Topic
Module/Topic
Revision
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Test
The test assesses the content taught from weeks 1 to 9. The test consist of 20 multiple choice questions which may be theoretical, conceptual, and / or practical. They can also include calculations.
The on-line test must be completed during the 22 hours and 45 minutes that it is open on Tuesday 15 May. If you are seeking an extension, please ensure that you have received an approved extension from the Unit Coordinator before the test opens, as you will not be able to complete the on-line test after it closes. To allow the Unit Coordinator to review your application for extension and to grant it, please apply for extension before 4pm AEST on Monday 14 May.
Week 10 Tuesday (15 May 2018) 11:45 pm AEST
On-line test opens at 1am and closes at 11.45pm AEST on Tuesday 15 May 2018. The test is open for 22 hours 45 minutes but you only have 45 minutes to start and complete the test.
Results will be available on Moodle immediately when you submit your on-line test. The answers to the questions cannot be made available.
The test is marked on-line and the answers are based on accuracy. The questions and the answers to the test are not available to students after the test.
- Analyse and report on how the conceptual framework and Australian accounting standards inform the recording and reporting of changes of business ownership, various forms of business combinations, and tax effect accounting.
- Critically evaluate and report on reforms in company accounting based on sound theoretical principles.
- Knowledge
- Research
2 Practical and Written Assessment
This is a progressive assessment, consisting of three (3) parts, and designed to assist progressive learning. The three parts will build on each other. The marked assignments will be returned a week following submission, including the solutions. Therefore, extension for any part of the assignment cannot extend 7 days.
The question for the next part of the assignment will be uploaded to Moodle on the day that the marked assignments are returned. The marked assignments of Part A will be returned and the assignment question for Part B will be available on Moodle on Monday 26 March at 11:45pm. The marked assignment for Part B will be returned and the assignment question for Part C will be available on Moodle on Thursday 26 April at 11:45pm.
Week 3 Monday (19 Mar 2018) 11:45 am AEST
Part A is due Monday 19 March, Part B on Thursday 19 April and Part C on Thursday 3 May.
Week 4 Monday (26 Mar 2018)
Part A will be returned on Monday 26 March, Part B on Thursday 26 April and Part C on Thursday 10 May at 11.:45pm AEST.
A marking criteria sheet will be provided with each of the three parts of the assignment, outlining the marking rubric.
Please note that there is a late penalty of 5% of the potential mark per day for late submissions.
- Analyse and report on how the conceptual framework and Australian accounting standards inform the recording and reporting of changes of business ownership, various forms of business combinations, and tax effect accounting.
- For given business problems involving changes of business ownership, various forms of business combinations, and tax effect accounting (and combinations of these), evaluate and select the correct accounting treatment and produce correct financial statements that comply with Australian accounting standards.
- Critically evaluate and report on ethical issues in company accounting based on sound theoretical principles.
- Knowledge
- Communication
- Cognitive, technical and creative skills
- Ethical and Professional Responsibility
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.