Coronavirus (COVID-19) Update
Due to the Coronavirus (COVID-19) pandemic, any references to assessment tasks and on-campus delivery may no longer be up-to-date on this page.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit convenor
James Lau
E4A 349
TBA on ilearn
Lecturer
Laura Luo
E4A 215
TBA on ilearn
Lecturer
Leisa Henness
TBA on ilearn
Unit moderator
Stephen Haswell
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Credit points |
Credit points
10
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Prerequisites |
Prerequisites
Admission to MAccg or MAccLead or MAccg(Adv) or MProfAcc or MProfAccgLead
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Corequisites |
Corequisites
ACCG923 or ACCG8123
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Co-badged status |
Co-badged status
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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. This unit evaluates the application and basis of selected accounting standards that relates to investment in entities, which includes consolidation, equity accounting and joint arrangement. Case studies are used to illustrate the application of accounting standards in the real-world setting. Students are expected to analyse and integrate conceptual and technical corporate accounting knowledge. |
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:
Coronavirus (COVID-19) Update
Assessment details are no longer provided here as a result of changes due to the Coronavirus (COVID-19) pandemic.
Students should consult iLearn for revised unit information.
Find out more about the Coronavirus (COVID-19) and potential impacts on staff and students
Late Submission(s): “Late assessment must also be submitted through Turnitin. No extensions will be granted. 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 incurs a 20% penalty). Late submissions will not be accepted after solutions have been discussed and/or made available. This penalty does not apply for cases in which an application for Special Consideration is made and approved. Note: applications for Special Consideration Policy must be made within 5 (five) business days of the due date and time.”
Coronavirus (COVID-19) Update
Any references to on-campus delivery below may no longer be relevant due to COVID-19.
Please check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
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 times will commence in Week 3. Please refer to iLearn for staff consultation times, and note that there are no consultation times during the mid-session break.
Required and Recommended Texts and / or Materials
Prescribed text:
Leo, Knapp, McGowan and Sweeting, ACCG923/ACCG926 custom text, John Wiley & Sons Australia Ltd, 2019
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, and at a minimum at least one a week.
Teaching and Learning Activities
The last page of this assessment 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 some students find reading prior to classes useful. ALL the content within the readings is examinable and you are expected to have completed the readings prior to attempting relevant assessment tasks.
Weekly homework questions
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 the week the homework is due with the exception of Topic 1 homework which will be released at the end of Week 1.
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 Excel, Word and Powerpoint to enable completion of various assessment tasks throughout the session.
Coronavirus (COVID-19) Update
The unit schedule/topics and any references to on-campus delivery below may no longer be relevant due to COVID-19. Please consult iLearn for latest details, and check here for updated delivery information: https://ask.mq.edu.au/account/pub/display/unit_status
Week commencing Monday |
Topic No |
Topic Description |
Readings ( All reading are from prescribed text unless otherwise indicated) |
24 Feb. (Week 1) |
1 |
Accounting for income tax |
Chapter 17 (Leo) |
2 March (Week 2) |
2 |
Business combinations |
Chapter 3 (Leo) |
9 March (Week 3) |
3 |
Consolidation Part I – The consolidation method |
Chapter 9 (Leo) |
16 March (Week 4) |
4 |
Consolidation Part II – Wholly owned subsidiaries |
Chapter 10 (Leo) |
23 March (Week 5) |
5 |
Consolidation Part III – Intra-group transactions |
Chapter 11 (Leo) |
30 March (Week 6) |
6 |
Consolidation Part IV - Non-controlling interests |
Chapter 12 (Leo) |
6 April (Week 7) |
7 | Translation of foreign currency financial statement | Chapter 8 (Leo) |
Mid-session break (15-26 April)
27 April (Week 8) |
8 |
Equity accounting |
Chapter 14 (Leo) |
4 May (Week 9) |
9 |
Joint arrangements |
Chapter 15 (Leo) |
11 May (Week 10) |
10 |
Financial Instrument |
Chapter 11 (Loftus) |
18 May (Week 11) |
11 |
In-class Case Study – Fast Air Pty Ltd |
Materials on ilearn |
25 May ( Week 12) |
Group presentation |
Requirements on ilearn | |
1 June ( Week 13) |
Revision |
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:
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 published on platform other than eStudent, (eg. iLearn, Coursera etc.) 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 or if you are a Global MBA student contact globalmba.support@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 help you improve your marks and take control of your study.
The Library provides online and face to face support to help you find and use relevant information resources.
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
If you are a Global MBA student contact globalmba.support@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.