Unit convenor and teaching staff |
Unit convenor and teaching staff
Administration
Catriona Lavermicocca
Contact via 9850-8528
E4A308
By appointment
Unit Convenor
Mark Abraham
Contact via By email
Advised on appointment
By appointment
|
---|---|
Credit points |
Credit points
4
|
Prerequisites |
Prerequisites
ACCG926
|
Corequisites |
Corequisites
|
Co-badged status |
Co-badged status
|
Unit description |
Unit description
This unit examines the financial reporting framework within which accountants operate. The detailed financial reporting requirements for entities leading to the preparation of group financial reports in accordance with International Financial Reporting Standards (IFRS) are examined. The unit deals with the nature of reporting for specialised entities including not-for-profits and small to medium sized enterprises. The unit also explores in more depth the role of the accountant as a financial analyst and adviser through an assessment of the financial performance and position of entities, and the accountant’s role in assessing and advising on the implications of accounting regulations on corporate reporting.
|
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
On successful completion of this unit, you will be able to:
Student workload
150 hours
Activities | Hours |
Sessional seminars | 39 |
Assessed sessional coursework (Preparation for Homework and Test) |
18 |
Research assignment | 10 |
Final exam preparation | 50 |
Readings/self-study | 33 |
Total | 150 |
Name | Weighting | Hurdle | Due |
---|---|---|---|
Assessed coursework | 10% | No | Throughout |
Take home test | 15% | No | 9 April 2018 |
Research assignment | 20% | No | 30 April 2018 |
Exam | 55% | No | To be advised |
Due: Throughout
Weighting: 10%
Homework exercises form a critical part in the study process, as they serve to reinforce concepts that are covered in class or online. Students have often failed a unit as they do not follow a disciplined approach over the session. To this end, students will be required to attend seminars with their attempts. The teaching staff will check during class time that these are satisfactorily attempted.
Lecturer will collect exercises on five (5) occasions at the beginning of the class, without prior notice. Marks are awarded for the completeness and evidence that corrections are made as appropriate during class-time.
The homework component will be worth 7.5%, with each submission counting for 1.5%. The remaining 2.5% will be based on your seminar participation, which may include your engagement and input in class. For example, this may involve providing constructive comments to your peers' presentations and how you interact with your peers by participating in open discussions on relevant issues during the informal part of the seminar.
Due: 9 April 2018
Weighting: 15%
This assessment is a one hour diagnostic summative assessment designed to let you demonstrate the knowledge and skills you have attained in the first four sessions. This will be a take home test. Further information will be provided on ilearn and in class.
Extensions
There are no extensions for this assessment. Students must sit the test at the designated time
Penalties
Students not attending the class test will be given a 0 grade. This penalty does not apply for cases in which an application for special consideration is made and approved.
Due: 30 April 2018
Weighting: 20%
Research assignment on financial reporting disclosures. Further information provided on ilearn
Extensions
No extensions will be granted. Late tasks will be accepted up to 72 hours after the submission deadline.
Penalties
There will be a deduction of 10% of the total available marks made from the total awarded mark for each 24 hour period or part thereof that the submission is late (for example, 25 hours late in submission – 20% penalty). This penalty does not apply for cases in which an application for special consideration is made and approved.
Due: To be advised
Weighting: 55%
The exam is a summative assessment designed to let you demonstrate the knowledge and skills you have attained in the previous three formative assessments.
A three hour 15 minute examination for this unit will be held at a time and place to be advised on iLearn. Further details about the final exam for this unit will be available in the final week of classes and also on the unit web page (iLearn).
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 is available at
http://www.mq.edu.au/policy/docs/disruption_studies/policy.html
Required Text Book
Students are to acquire the Study Text for ACCA Paper P2 Int/UK Corporate Reporting, published by KAPLAN Publishing.
Wk |
Monday |
Topic/Content |
1 |
Feb 26 |
Chapter 1 Financial reporting frameworks Chapter 2 Professional and Ethical Duty Quizzes and Practice questions from text |
2 |
Mar 5 |
Chapter 3 Performance reporting & appraisal Chapter 4 Revenue |
3 |
Mar 12 |
Chapter 5 Non current assets & inventories Chapter 6 Foreign currency in individual financial statements |
4 |
Mar 19 |
Chapter 7 Leases Chapter 8 Employee benefits Chapter 9 Share-based payment |
5 |
Mar 26 |
Chapter 11 Financial instruments |
6 |
Apr TBA |
An alternative date TBA for Easter Monday Chapter 10 Post-balance events, provisions & contingencies Chapter 13 Segment reporting Chapter 14 Related parties |
7 |
Apr 9 |
Chapter 12 Tax Chapter 15 Adopting IFRS |
|
Apr 16 Apr 23 |
Break |
8 |
Apr 30 |
Chapter 16 Specialised entities & specialised transactions |
9 |
May 7 |
Chapter 17 Non-financial reporting Chapter 18 Current issues Chapter 22 Group accounting - foreign currency |
10 |
May 14 |
Chapter 19 Group accounting - basic groups |
11 |
May 21 |
Chapter 20 Complex groups Chapter 21 Change in group structure Chapter 23 Group reorganisations |
12 |
May 28 |
Chapter 24 Group statement of cash flows Chapter 25 UK GAAP |
13 |
Jun 4 |
Practice questions |
14 |
Jun 11 |
ACCA Exam week |
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).
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 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.
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Learning Skills (mq.edu.au/learningskills) provides academic writing resources and study strategies to improve your marks and take control of your study.
Students with a disability are encouraged to contact the Disability Service who can provide appropriate help with any issues that arise during their studies.
For all student enquiries, visit Student Connect at ask.mq.edu.au
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.
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:
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:
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:
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:
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:
Our postgraduates will be ethically aware and capable of confident transformative action in relation to their professional responsibilities and the wider community. They will have a sense of connectedness with others and country and have a sense of mutual obligation. They will be able to appreciate the impact of their professional roles for social justice and inclusion related to national and global issues
This graduate capability is supported by: