Students

ACCG871 – Advanced Corporate Accounting

2018 – S1 Day

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Daisy Chen
Contact via Contact via hua.chen@mq.edu.au
E4A Level 2
See Unit iLearn
Moderator
Jengfang Chen
Rahat Munir
Credit points Credit points
4
Prerequisites Prerequisites
ACCG612 or ACCG926
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. The unit will evaluate the application and basis of selected accounting knowledge around measurement techniques, segment reporting, financial instruments, share based payments, employee benefits, intangible assets and accounting for revenues. Case studies will be used to illustrate the application of accounting knowledge in the real world setting. Students are expected to analyse and integrate conceptual and technical corporate accounting knowledge.

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:

  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

General Assessment Information

Attendance at weekly classes is strongly advised for this unit.

Assessment Tasks

Name Weighting Hurdle Due
Class tests 25% No Weeks 4 and 10
Assignment 20% No Week 12
Final Examination 55% No University Examination Period

Class tests

Due: Weeks 4 and 10
Weighting: 25%

 

There are two class tests to be completed in class in weeks 4 and 10. The test in week 4 is worth 10% and the test in week 10 is worth 15%. In each test, students will be instructed to complete questions individually in a closed book test, so are not permitted to access the textbook, notes or other course materials. Students have to bring a calculator for each test, and will NOT be allowed to share calculators or access any electronic devices (e.g., phones, tablets, etc.) during the test.

Submission

Students must attempt the test in class in weeks 4 and 10.

Late Submission

No extensions will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for special consideration is made and approve.

 

 


On successful completion you will be able to:
  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Assignment

Due: Week 12
Weighting: 20%

Students will be allocated into groups based on class lists current as at week 5. Details of the group allocation will be posted on iLearn before mid-session break.

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.

Marks for the assignment will be awarded for both group and individual efforts. The feedback sheet/cover sheet will allow students to distinguish their own participation in the report. Each group member will be asked to take responsibility for one aspect of the report and they will receive 50% of the assignment's marks for the aspect.

Submission

Your group will be required to present in your registered class during week 12.

Late Submission

No extension will be granted. Students who have not submitted the task prior to the deadline will be awarded a mark of 0 for the task, except for cases in which an application for special consideration is made and approved. 

 

 


On successful completion you will be able to:
  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Final Examination

Due: University Examination Period
Weighting: 55%

 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.

The final exam is of two hours and ten minutes duration. The final exam of ACCG871 is designed to test you against the learning objectives of the unit. Students in ACCG871 for 2018 will be required to do a final exam that tests them on all the material covered during the session. Further information on the final exam will be provided on iLearn. 

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 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. It is the student's responsibility to make sure that they have ascertained the room number for their exam before the exam day.

http:// exams.mq.edu.au/

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 Special Consideration. The University’s policy on Special Consideration process is available at: https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policies/special-consideration 

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

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.htm

Details regarding the form and scope of the final exam will be provided to you during the final lecture. In the meantime you should be aware that the best preparation for the final exam is as follows:

  • Attend lectures and take notes - what are the main points the lecturer has made?
  • Complete the required readings from the textbook each week
  • Attend all tutorials
  • Complete independent solutions to tutorial discussion questions, exercises and problems
  • Form study groups at the beginning of session
  • Use the assessed coursework to monitor your own progress against the unit learning objectives. A low score on an assessed coursework is a signal that you need to do more work on certain topics
  • Check your solution to the tutorial assignments against the 'self-study solutions' that are available on iLearn
  • Use the consultation times whenever you need extra help, not just before the exam

 

What is required to complete the unit satisfactorily

Students must pass the overall assessment to receive a passing grade in this unit. 

Expectations and Workload

Students are expected to spend 150 hours working on this unit. As a guide a student should spend these approximate amounts of time on each of the following activities:

 

 

Activities

Hours

1

 Weekly lectures/tutorials

 39

2

 Class test

 25

3

Assessed coursework

 30

4

 Final exam

 32

5

 Readings/self-study

 24

 

 TOTAL

150

 


On successful completion you will be able to:
  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Delivery and Resources

Teaching staff

Name

Daisy Chen

Unit Convenor & Lecturer

Email address

hua.chen@mq.edu.au

 

Please use email as the first form of contact.

Contacting staff

The consultation timetable will be confirmed on the unit’s website in week 2. Staff members are available for two hours per week for consultation starting from week 3.

You are encouraged to seek help at a time that is convenient to you from a staff member teaching on this unit during their regular consultation hours. In special circumstances, an appointment may be made outside regular consultation hours. Staff will not conduct any consultations by email. You may, however, phone staff during their consultation hours.

Students experiencing significant difficulties with any topic in the unit must seek assistance immediately.

Classes

  • There are 3 hours face-to-face teaching per week consisting of 1 x 2-hour lecture and 1 x 1-hour workshop each week. These classes are run together as one three hour session.
  • The timetable for classes can be found on the University web site at: http://www.timetables.mq.edu.au/

Attendance requirements

The lecturer will record attendance each week.

Required and Recommended Texts and/or Materials

Deegan,C, Australian Financial Accounting, 8th Edition, McGraw-Hill Irwin, 2016 

The text can be purchased from the Macquarie University Co-op Bookshop.

This text is used extensively for both lecture references and for tutorial work in each week of the unit. Ideally students should have a copy of this text that they can access at all times. Copies of this text are available on Library Reserve.

Technology Used and Required

You will need basic computer skills to use Macquarie University’s iLearn teaching facility (refer to the detail contained below in Unit Web Page). You will need to download documents supplied in pdf format.

Unit Web Page

ACCG871 lecture handouts, notices and homework solutions will be available in full from the unit’s web page. You can access the web page on campus, at work or at home, where you can login to “iLearn” https://ilearn.mq.edu.au/login/MQ/. Please check the web site on a regular basis for notices, updates, etc.

Lectures will be audio recorded on ‘iLecture’ and made available on iLearn by the end of the week.  

 

Unit Schedule

 

Unit Schedule

Week        Week Commencing          Topic and text readings

1               26 February                        Revenue, contingent assets and liabilities

2               5 March                              Fair value reporting 

3              12 March                             Intangible assets 

4              19 March                             In-class case studies  

5              26 March                             Employee benefits

6              2 April                                  Public Holiday - No class 

7              9 April                                  Segment reporting

MID-TERM BREAK (16 April to 29 April )

8             30 April                                 Share based payment 

9             7 May                                   In-class case studies   

10           14 May                                 Financial instrument 1

11           21 May                                 Financial instrument 2

12           28 May                                 Group presentations 

13           4 June                                  Revision

 

 The unit schedule is also available at the unit's iLearn page.

 

Learning and Teaching Activities

Lecture component

The purpose of the lectures is to provide you with an overview of the main concepts and techniques. Each lecture should give you a framework to use when solving problems in the particular topic for that week.

Private study – learning by doing

ACCG871 relies heavily on assignment-based learning and private study. During your private study after each week’s lecture, you are expected to revise your lecture notes and read the specific textbook materials that have been prescribed. Using the concepts and techniques presented in lectures and textbook materials, you are then required to prepare solutions to weekly assignment questions and exercises. You should attempt all assignment questions and exercises before attending the relevant tutorial in which the solutions are discussed.

Seminar component – interactive learning

Around one hour (sometimes more) of each three hour session will be a 'tutorial/workshop' component in which students can work hands-on in exercises, ask questions, and in some weeks perform class tests.

After the tutorials – the learning process continues

Copies of the textbook solutions to the relevant weekly assignment will be placed on iLearn. While your understanding of the topic material is fresh you should review the model solutions for each weekly assignment. Check your answers against the model solutions and learn from your mistakes. Form study groups to help clarify issues but try to work independently on the questions so that you do not copy other students’ answers.

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/policy-central). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Undergraduate students seeking more policy resources can visit the Student Policy Gateway (https://students.mq.edu.au/support/study/student-policy-gateway). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

If you would like to see all the policies relevant to Learning and Teaching visit Policy Central (https://staff.mq.edu.au/work/strategy-planning-and-governance/university-policies-and-procedures/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/study/getting-started/student-conduct​

Results

Results shown in iLearn, or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit ask.mq.edu.au.

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://www.mq.edu.au/about_us/offices_and_units/information_technology/help/

When using the University's IT, you must adhere to the Acceptable Use of IT Resources 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

  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Assessment tasks

  • Class tests
  • Assignment
  • Final Examination

PG - Critical, Analytical and Integrative Thinking

Our postgraduates will be capable of utilising and reflecting on prior knowledge and experience, of applying higher level critical thinking skills, and of integrating and synthesising learning and knowledge from a range of sources and environments. A characteristic of this form of thinking is the generation of new, professionally oriented knowledge through personal or group-based critique of practice and theory.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Assessment tasks

  • Class tests
  • Assignment
  • Final Examination

PG - Research and Problem Solving Capability

Our postgraduates will be capable of systematic enquiry; able to use research skills to create new knowledge that can be applied to real world issues, or contribute to a field of study or practice to enhance society. They will be capable of creative questioning, problem finding and problem solving.

This graduate capability is supported by:

Learning outcomes

  • Demonstrate knowledge of the theory and practice of compiling company financial statements.
  • Demonstrate knowledge of the theory and practice related to segment reporting, financial instruments, share based payments, employee benefits, intangible assets, fair value reporting and accounting for revenue, contingent assets and liabilities
  • Apply technical competence in the relevant areas of accounting where measurement and recognition judgements need to be made.

Assessment tasks

  • Class tests
  • Assignment
  • Final Examination

Changes from Previous Offering

1) Removed the textbook: Leo, Knapp, Sweeting, Company Accounting, 10th Edition, Wiley, Queensland

1) Added new textbook to support changes in the unit requirements: Deegan, C, Australian Financial Accounting, 8th Edition, McGraw-Hill Irwin, 2016

3) Removed the following topics arising from changes in the unit requirements: 

- Financing of company operations 

- Financing of company operations general company operations 

- Accounting for company income tax 

- Accounting for property, plant and equipment 

- Impairment losses 

- Business combinations

- Consolidation Accounting

- Associates and joint ventures

3) Added the following new topics arising from changes in the unit requirements: 

- Revenue, contingent assets and liabilities

- Intangible assets 

- Accounting for employee benefits 

- Financial instruments 

- Fair value reporting

- Share-based payments

- Segment reporting 

- case studies

Research and Practice, Global and Sustainability

  • This unit discusses the latest research findings on corporate reporting.
  • This unit provides the latest news on the development of accounting standards.
  • This unit addresses global and sustainability issues as direct areas of study and as necessary implications arising from the materials, assessment and academic discussion and debate in classes/seminars. We promote sustainability by developing ability in students to research and locate information within financial accounting. We aim to provide students with an opportunity to obtain skills which will benefit them throughout their career.