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ACCT19061 - Advanced Financial Accounting

General Information

Unit Synopsis

In this unit, which builds on the work you undertook in ACCT19062 Intermediate Financial Accounting, you will examine a selection of Australian accounting standards that address advanced issues in financial reporting including the accounting requirements for different types of inter-entity investment relationships. You will then interpret and apply the requirements of the selected accounting standards to solve more advanced accounting problems. This unit develops your professional competence in accounting to an advanced level.

Details

Level Undergraduate
Unit Level 3
Credit Points 6
Student Contribution Band 3
Fraction of Full-Time Student Load 0.125
Pre-requisites or Co-requisites

Pre-requisite: ACCT19062

Class Timetable View Unit Timetable
Residential School No Residential School

Unit Availabilities from Term 1 - 2018

Term 1 - 2018 Profile
Brisbane
Distance
Melbourne
Sydney
Term 2 - 2018 Profile
Brisbane
Bundaberg
Cairns
Distance
Mackay
Melbourne
Rockhampton
Sydney
Term 1 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2019 Profile
Brisbane
Bundaberg
Cairns
Mackay
Melbourne
Online
Rockhampton
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).

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.

Assessment Tasks

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

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 Procedures for more details of interim results and final grades

Past Exams

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Previous Feedback

Term 1 - 2018 : The overall satisfaction for students in the last offering of this course was 4.4 (on a 5 point Likert scale), based on a 28.57% response rate.

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.

Source: Student evaluations
Feedback
Lecture slides could be better structured. The lack of structure made it difficult to understand concepts.
Recommendation
Lecture slides (and video presentations) for each topic will be evaluated and, where necessary, the content will be restructured.
Action Taken
Restructuring of the lecture slides (and video presentations) has commenced with the introduction of a new textbook in Term 2 2018.
Source: 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.
Action Taken
Nil.
Unit learning Outcomes

On successful completion of this unit, you will be able to:

  1. Explain the different types of inter-entity investment relationships and the accounting methods that apply to each type
  2. Interpret the technical requirements and conceptual aspects of selected accounting standards that address inter-entity investment relationships
  3. Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
  4. Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve advanced accounting problems.

Alignment of Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Quiz(zes)
2 - Written Assessment
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Introductory Level
Intermediate Level
Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Communication
2 - Problem Solving
3 - Critical Thinking
Alignment of Assessment Tasks to Graduate Attributes
Introductory Level
Intermediate Level
Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8 9
2 - Written Assessment
3 - Examination
1 - Online Quiz(zes)