CQUniversity Unit Profile
ACCT20073 Company Accounting
Company Accounting
All details in this unit profile for ACCT20073 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 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

Career Level: Postgraduate
Unit Level: Level 9
Credit Points: 6
Student Contribution Band: 10
Fraction of Full-Time Student Load: 0.125

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

Brisbane
Distance
Melbourne
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 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

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

Assessment Overview

1. Online Test
Weighting: 10%
2. Practical and Written Assessment
Weighting: 30%
3. Examination
Weighting: 60%

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 Student evaluation

Feedback

Students get to do practical exercises in class that help their learning.

Recommendation

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

Feedback

Weekly group presentations should be tougher and more random so that every member of the group will be active.

Recommendation

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

Feedback

The grade of the weekly group presentation was not explained to some students.

Recommendation

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.

Unit Learning Outcomes
On successful completion of this unit, you will be able to:
  1. 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.
  2. 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.
  3. Critically evaluate and report on reforms in company accounting based on sound theoretical principles.
  4. Critically evaluate and report on ethical issues in company accounting based on sound theoretical principles.
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 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 and Resources

Textbooks

Prescribed

Financial Accounting

8th edition (2016)
Authors: Deegan, C.
McGrawHill
North Ryde North Ryde , NSW , Australia
ISBN: 9781743764022
Binding: Paperback

Additional Textbook Information

There are three options in buying the book: Option A: Connect (without E-book). Students receive access to the online resources including the McGraw-Hill Education Adaptive Learning Platform LearnSmart. $34.50 AU Option B: Connect Plus (e-book and Connect) Students receive access to the online resources including the McGraw-Hill Education Adaptive Learning Platform SmartBook which includes E-book. $63.59 AU Option C: Key Code Access (Bundled with Hard Copy of text). You can purchase that at the CQUniversity bookshop.

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft Word
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
Natasja Steenkamp Unit Coordinator
n.steenkamp@cqu.edu.au
Schedule
Week 1 Begin Date: 05 Mar 2018

Module/Topic

Revaluation and impairment testing of non-current assets

Chapter

6

Events and Submissions/Topic

Week 2 Begin Date: 12 Mar 2018

Module/Topic

Accounting for income taxes

Chapter

18

Events and Submissions/Topic

Week 3 Begin Date: 19 Mar 2018

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
Week 4 Begin Date: 26 Mar 2018

Module/Topic

Accounting for group structures

Chapter

25

Events and Submissions/Topic


Week 5 Begin Date: 02 Apr 2018

Module/Topic

Accounting for group structures (continued)

Chapter

25

Events and Submissions/Topic

Vacation Week Begin Date: 09 Apr 2018

Module/Topic

Chapter

Events and Submissions/Topic

Week 6 Begin Date: 16 Apr 2018

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

Week 7 Begin Date: 23 Apr 2018

Module/Topic

Further consolidation issues I: accounting for intragroup transactions

Chapter

26

Events and Submissions/Topic

Week 8 Begin Date: 30 Apr 2018

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

Week 9 Begin Date: 07 May 2018

Module/Topic

Further consolidation issues II: accounting for non-controlling interests

Chapter

27

Events and Submissions/Topic

Week 10 Begin Date: 14 May 2018

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
Week 11 Begin Date: 21 May 2018

Module/Topic

Accounting for intangible assets

Chapter

8

Events and Submissions/Topic

Week 12 Begin Date: 28 May 2018

Module/Topic

Revision

Chapter

Events and Submissions/Topic

Review/Exam Week Begin Date: 04 Jun 2018

Module/Topic

Chapter

Events and Submissions/Topic

Exam Week Begin Date: 11 Jun 2018

Module/Topic

Chapter

Events and Submissions/Topic

Assessment Tasks

1 Online Test

Assessment Title
On-line test

Task Description

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.


Assessment Due Date

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.


Return Date to Students

Results will be available on Moodle immediately when you submit your on-line test. The answers to the questions cannot be made available.


Weighting
10%

Assessment Criteria

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.


Referencing Style

Submission
Online

Submission Instructions
Submit within 45 minutes from starting time. You only have one attempt for the test. Please start the test at least 45 minutes before it closes at 11.45pm AEST on Tuesday 15 May as the system will log you out automatically once the test closes. Please ensure that you save your answers throughout your attempt. If you do not and experience problems with the technology, your answers will not be saved and you will not get a second opportunity to undertake the test. Please take screenshots of any problems you may encounter with technology as evidence.

Learning Outcomes Assessed
  • 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.


Graduate Attributes
  • Knowledge
  • Research

2 Practical and Written Assessment

Assessment Title
Practical and written assessment

Task Description

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. 


Assessment Due Date

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.


Return Date to Students

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.


Weighting
30%

Assessment Criteria

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.


Referencing Style

Submission
Online

Learning Outcomes Assessed
  • 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.


Graduate Attributes
  • Knowledge
  • Communication
  • Cognitive, technical and creative skills
  • Ethical and Professional Responsibility

Examination

Outline
Complete an invigilated examination

Date
During the examination period at a CQUniversity examination centre

Weighting
60%

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?