Students

ACCG926 – Corporate Accounting

2014 – S2 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Lecturer
Emma Holmes
emma.holmes@mq.edu.au
Lecturer
Leisa Henness
leisa.henness@mq.edu.au
Lecturer
Andrew Bissett
andrew.bissett@mq.edu.au
James Lau
james.lau@mq.edu.au
Credit points Credit points
4
Prerequisites Prerequisites
(ACCG923 or ACCG862) and (admission to MAcc(Prof) or MAcc(CPA) or MAcc(Prof)MCom)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description
This unit discusses and analyses the accounting issues that pertain to the corporate form of organisation operating in the private sector. It includes an examination of the framework for regulating corporate financial reporting in Australia, as well as an in-depth study of the requirements for the preparation of financial statements for a group of companies operating under common control.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

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

  • Evaluate the application and basis of selected accounting standards
  • Apply accounting standards including the Conceptual Framework in the preparation of company financial statements
  • Analyse and integrate conceptual and technical corporate accounting knowledge
  • Work as a team to critically analyse and evaluate complex ideas in corporate accounting
  • Communicate technical corporate accounting issues to management and other stakeholders.

Assessment Tasks

Name Weighting Due
1. Quiz 10% Week 13
2. Class Test 15% Week 7
3. Presentation 15% Week 12
4. Final Examination 60% Examination period

1. Quiz

Due: Week 13
Weighting: 10%

The online quiz will be computer based (accessed from iLearn) with multiple choice questions. The details are as follows:

·      Topics covered: 1-10

·      Due date: 14 November 11.59pm

·      Feedback available: 16 November


Submission
Submit on iLearn.

 

Extension
Students are required to attempt the quiz on the designated dates and there is no supplementary quiz if you do not attempt it. No extensions will be granted. Students who have not attempted the quiz prior to the deadline will be awarded a mark of 0 for the quiz, except for cases in which an application for Disruption to Studies is made and approved. 

 

Penalties

A mark of zero will be awarded to students who did not attempt the quiz.
On successful completion you will be able to:
  • Evaluate the application and basis of selected accounting standards
  • Analyse and integrate conceptual and technical corporate accounting knowledge

2. Class Test

Due: Week 7
Weighting: 15%

Throughout the session there will be one class test. The purpose is to give you a focus for your study and to give you timely feedback on your performance. The test will be closed book, answered under examination conditions and of examination standard. You must sit for the test in your registered class. Class test scripts will be returned in week 9.

Class test will be held during class time in week 7. The test will cover material in topics 1 to 5 and it is worth 15%.

 

Submission

You are required to sit for the test in your registered class.

 

Extension

Students who are absent from the test will be awarded a mark of ZERO, except for cases in which an application for Disruption to Studies is made and approved. If your Disruption to Studies application is approved, then you are required to arrange a time with the Unit Convenor to sit for a supplementary class test. A different test paper will be used for the supplementary class test.  

 

Penalties

A mark of zero will be awarded to students who are absent from the test.
On successful completion you will be able to:
  • Evaluate the application and basis of selected accounting standards
  • Apply accounting standards including the Conceptual Framework in the preparation of company financial statements
  • Analyse and integrate conceptual and technical corporate accounting knowledge

3. Presentation

Due: Week 12
Weighting: 15%

Students will be allocated into groups based on class lists current as at week 5. Details of the group that you have been allocated to and the week that your group will be presenting will be posted on iLearn in week 6.

Detailed requirements for all group presentations including duration of your presentation, written materials required to be submitted to accompany your presentation etc will also be posted on iLearn at that time.

A mark will be awarded to each group and individual feedback for the group presentations will be provided in the final week of class.

 

Submission

You are required to present in your registered class during week 12.

 

Extension

No extensions will be granted. Students who are absent from the presentation will be awarded a mark of ZERO, except for cases in which an application for Disruption to Studies is made and approved. If the application is approved, students are expected to complete the presentation on an individual basis.

 

Penalties

A mark of zero will be awarded to students who are absent from the presentation.

 
On successful completion you will be able to:
  • Evaluate the application and basis of selected accounting standards
  • Analyse and integrate conceptual and technical corporate accounting knowledge
  • Work as a team to critically analyse and evaluate complex ideas in corporate accounting
  • Communicate technical corporate accounting issues to management and other stakeholders.

4. Final Examination

Due: Examination period
Weighting: 60%

A final examination is included as an assessment task for this unit to provide assurance that:

i)                    the product belongs to the student and

ii)                  the student has attained the knowledge and skills tested in the exam. 

A 3 hour closed book final examination for this unit will be held during the University Examination period. This examination will examine material covered in topics 1 to 10. 

 

Submission

Please check for the University Examination period.

You are expected to present yourself for examination at the time and place designated in the University Examination Timetable. The timetable will be available in Draft form approximately eight weeks before the commencement of the examinations and in Final form approximately four weeks before the commencement of the examinations.

http://exams.mq.edu.au/ 

There is a requirement to PASS the final examination to be awarded a final grade of a Pass or a higher grade.

 

Extension

The only exception to not sitting an examination at the designated time is because of documented illness or unavoidable disruption. In these circumstances you may wish to consider applying for Disruption to Studies. The University’s policy on Disruption to Studies process is available at:

http://www.mq.edu.au/policy/docs/disruption_studies/policy.html

 

If a Supplementary Examination is granted as a result of the Disruption to Studies process, the examination will be scheduled as per the Supplementary Examination timetable of the Faculty. Please note that the supplementary examination will be of the similar format as the final examination.

Supplementary examination information for session 2, 2014 is available at:

http://www.businessandeconomics.mq.edu.au/new_and_current_students/undergraduate/how_do_i/disruption_to_studies

 

The Macquarie university examination policy details the principles and conduct of examinations at the University. The policy is available at:

http://www.mq.edu.au/policy/docs/examination/policy.html

 

Penalties

A 'Fail' grade will be awarded to students who are absent from the final exam.
On successful completion you will be able to:
  • Evaluate the application and basis of selected accounting standards
  • Apply accounting standards including the Conceptual Framework in the preparation of company financial statements
  • Analyse and integrate conceptual and technical corporate accounting knowledge

Delivery and Resources

Classes

This unit offers one 3 hour class per week. The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/

You MUST attend only the class in which you are enrolled. In the event that you have to attend an alternative class for a particular week, you are required to notify your lecturer in advance of attending the alternate class. 

 

Consultation hours

Consultation times is available every week and will commence in Week 3, the schedule will be provided on iLearn. Please also note that there are no consultation times during the Session break.

 

Required and Recommended Texts and / or Materials

Prescribed texts

  1. Leo, Hoggett and Sweeting, Company Accounting, 9th ed. John Wiley & Sons Australia Ltd, 2012
  2. Two additional chapters will be used from Picker, Leo, Loftus, Wise, Clark and Alfredson,  Applying International Financial Reporting Standard, 3rd ed. John Wiley & Sons Australia Ltd, 2013. (These chapters will be made available to you on iLearn).      

 

Unit Web Page                                                      

Unit materials, suggested solutions, announcements and other relevant information are found on iLearn for the unit at: http://ilearn.mq.edu.au.

Students are expected to visit the unit webpage on a regular basis.

 

Teaching and Learning Activities

·       Last page of this unit guide contains a list of the topics that will be covered in classes over the duration of the session. Also included are details of weekly readings, weekly homework questions and additional self-study questions.

 

Class structure

·     Each session will involve a tutorial segment, discussing assigned weekly homework questions from the previous week. The session will then continue with a lecture covering the next topic.

·      You are not required to have completed the weekly reading prior to attending the weekly lecture. However, the content within the readings is examinable and you are expected to have completed the readings prior to attempting relevant assessment tasks.

·    You are expected to fill in key words and answers of illustrative examples in the lecture notes during class time.

 

Weekly homework questions (mandatory)

·         You are required to prepare solutions to the weekly homework questions prior to attending the following class. As solutions to selected weekly homework questions will be discussed in class, this gives you an opportunity to discuss any problems or difficulties you are experiencing with the subject content.

·         Solutions to weekly homework questions will be placed online (ilearn.mq.edu.au) on Friday afternoon.

 

In class case studies

Solutions to the in class case studies will be discussed in classes but will not be posted online.

 

Technology Used and Required                          

Students will need access to Microsoft Office and iLearn to enable completion of various assessment tasks throughout the session.

Unit Schedule

Week commencing Monday

 

Topic

Readings

 

4 August

1

Intro

Consol. I – the consolidation method

Leo: Ch. 15 (excl 15.4)

11 August

2

Consol. II – wholly owned subsidiaries

Leo: Ch. 16 (excl 16.8)

18 August

3

Consol. III - Intra-group transactions

Leo: Ch. 17

25 August

4

Consol. IV – Non-controlling interests

 

Leo: Ch. 18

 

 

1 September

5

Consol. V – Indirect ownership interests

Leo: Ch. 19 (excl 19.4, 19.5)

8 September

6

Consol. VI – Case Study

 

15 September

 

Class test

 

Mid-session break

(22 Sep - 3 Oct)

 

 

 

6 October

7

Translation of foreign currency financial statements and accounting for foreign subs

Picker: Ch. 28 (excl 28.6 & 28.11)

13 October

8

Equity accounting

Leo: Ch. 20 (excl 20.6.2 and 20.8)

20 October

9

Joint ventures

 

Picker: Ch. 30 (excl 30.5)

 

27 October

10

In class Case Study – Fast Air Pty Ltd

 

3 November

 

Group presentation

 

10 November

 

Revision and Online quiz

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central. Students should be aware of the following policies in particular with regard to Learning and Teaching:

Academic Honesty Policy http://mq.edu.au/policy/docs/academic_honesty/policy.html

Assessment Policy  http://mq.edu.au/policy/docs/assessment/policy.html

Grading Policy http://mq.edu.au/policy/docs/grading/policy.html

Grade Appeal Policy http://mq.edu.au/policy/docs/gradeappeal/policy.html

Grievance Management Policy http://mq.edu.au/policy/docs/grievance_management/policy.html

Disruption to Studies Policy http://www.mq.edu.au/policy/docs/disruption_studies/policy.html The Disruption to Studies Policy is effective from March 3 2014 and replaces the Special Consideration Policy.

In addition, a number of other policies can be found in the Learning and Teaching Category of Policy Central.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/support/student_conduct/

Academic Honesty

The nature of scholarly endeavour, dependent as it is on the work of others, binds all members of the University community to abide by the principles of academic honesty. Its fundamental principle is that all staff and students act with integrity in the creation, development, application and use of ideas and information. This means that:

  • all academic work claimed as original is the work of the author making the claim

  • all academic collaborations are acknowledged

  • academic work is not falsified in any way

  • when the ideas of others are used, these ideas are acknowledged appropriately.

Further information on the academic honesty can be found in the Macquarie University Academic Honesty Policy at http://www.mq.edu.au/policy/docs/academic_honesty/policy.html

 

Grades

Macquarie University uses the following grades in coursework units of study:

  • HD - High Distinction

  • D - Distinction

  • CR - Credit

  • P - Pass

  • F - Fail

Grade descriptors and other information concerning grading are contained in the Macquarie University Grading Policy which is available at:

http://www.mq.edu.au/policy/docs/grading/policy.html

All final grades in the Department of Accounting and Corporate Governance are determined by a grading committee and are not the sole responsibility of the Unit Coordinator.

Students will be awarded one of these grades plus a Standardised Numerical Grade (SNG). The SNG is not necessarily a summation of the individual assessment components.

The final grade and SNG that are awarded reflect the corresponding grade descriptor in the Grading Policy.

In addition, there is a requirement to PASS the final examination to be awarded a final grade of a Pass or a higher grade.

 

Grading Appeals and Final Examination Script Viewing

If, at the conclusion of the unit, you have performed below expectations, and are considering lodging an appeal of grade and/or viewing your final exam script please refer to the following website which provides information about these processes and the cut off dates in the first instance. Please read the instructions provided concerning what constitutes a valid grounds for appeal before appealing your grade.

http://www.businessandeconomics.mq.edu.au/new_and_current_students/undergraduate/how_do_i/grade_appeals

 

Disruption to Studies Policy

The University is committed to equity and fairness in all aspects of its learning and teaching. In stating this commitment, the University recognises that students may experience disruptions that adversely affect their academic performance in assessment activities. A disruption to studies policy exists to support students who experience serious and unavoidable disruptions that arise after a study period has commenced. The policy is available at:

http://www.mq.edu.au/policy/docs/disruption_studies/policy.html

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Learning Skills

Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.

Student Services and Support

Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.

Student Enquiries

For all student enquiries, visit Student Connect at ask.mq.edu.au

IT Help

For help with University computer systems and technology, visit http://informatics.mq.edu.au/help/. 

When using the University's IT, you must adhere to the Acceptable Use Policy. The policy applies to all who connect to the MQ network including students.

Graduate Capabilities

PG - Discipline Knowledge and Skills

Our postgraduates will be able to demonstrate a significantly enhanced depth and breadth of knowledge, scholarly understanding, and specific subject content knowledge in their chosen fields.

This graduate capability is supported by:

Learning outcomes

  • Evaluate the application and basis of selected accounting standards
  • Apply accounting standards including the Conceptual Framework in the preparation of company financial statements
  • Analyse and integrate conceptual and technical corporate accounting knowledge
  • Work as a team to critically analyse and evaluate complex ideas in corporate accounting
  • Communicate technical corporate accounting issues to management and other stakeholders.

Assessment tasks

  • 1. Quiz
  • 2. Class Test
  • 4. Final Examination

PG - Effective Communication

Our postgraduates will be able to communicate effectively and convey their views to different social, cultural, and professional audiences. They will be able to use a variety of technologically supported media to communicate with empathy using a range of written, spoken or visual formats.

This graduate capability is supported by:

Learning outcomes

  • Analyse and integrate conceptual and technical corporate accounting knowledge
  • Work as a team to critically analyse and evaluate complex ideas in corporate accounting
  • Communicate technical corporate accounting issues to management and other stakeholders.

Assessment task

  • 3. Presentation

PG - Capable of Professional and Personal Judgment and Initiative

Our postgraduates will demonstrate a high standard of discernment and common sense in their professional and personal judgment. They will have the ability to make informed choices and decisions that reflect both the nature of their professional work and their personal perspectives.

This graduate capability is supported by:

Learning outcomes

  • Evaluate the application and basis of selected accounting standards
  • Apply accounting standards including the Conceptual Framework in the preparation of company financial statements
  • Analyse and integrate conceptual and technical corporate accounting knowledge

Assessment tasks

  • 1. Quiz
  • 2. Class Test
  • 4. Final Examination

Research and Practice

This unit gives you practice in applying research findings in your assignments

This unit gives you opportunities to conduct your own research 

Changes since First Published

Date Description
27/07/2014 .