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ACCT20073 - Company Accounting

General Information

Unit Synopsis

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

Level Postgraduate
Unit Level Not Applicable
Credit Points 6
Student Contribution Band 3
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.

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
Distance
Melbourne
Sydney
Term 1 - 2019 Profile
Brisbane
Melbourne
Online
Sydney
Term 2 - 2019 Profile
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).

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.

Assessment Tasks

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

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 4.6 (on a 5 point Likert scale), based on a 22.92% 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 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.
Action Taken
This practice has been continued during the workshops.
Source: 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.
Action Taken
Weekly group presentations were time consuming both during valuable class time and administrating the grades, and therefore have been discontinued from term 1 2018.
Source: 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.
Action Taken
Weekly group presentations have been discountinued from term 1 2018.
Source: Student evaluations
Feedback
Relevant topics that are real business activities such as consolidations are taught.
Recommendation
Will continue to include topics that are relevant and applicable in the real business environment in this unit.
Action Taken
Nil.
Source: Student evaluations
Feedback
Assessments, questions and solutions were good and helpful to improve student learning
Recommendation
Will continue to provide questions and solutions, and develop assessment tasks that are valuable to student learning
Action Taken
Nil.
Source: Student evaluations
Feedback
The teacher makes the subject easy to understand
Recommendation
Will continue with the current teaching team as far as practical and within our control
Action Taken
Nil.
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 Assessment Tasks to Learning Outcomes
Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Test
2 - Practical and Written Assessment
3 - Examination
Alignment of Graduate Attributes to Learning Outcomes
Advanced Level
Professional Level
Graduate Attributes Learning Outcomes
1 2 3 4
1 - Knowledge
2 - Communication
3 - Cognitive, technical and creative skills
4 - Research
6 - Ethical and Professional Responsibility
Alignment of Assessment Tasks to Graduate Attributes
Advanced Level
Professional Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7
1 - Online Test
2 - Practical and Written Assessment
3 - Examination