Students

ACCG942 – Corporate Reporting

2019 – S2 Evening

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor
Mark Abraham
mark.abraham@mq.edu.au
Contact via email
room 223 Building 4ER
Mondays 17:00 - 18:00
Moderator
Parmod Chand
parmod.chand@mq.edu.au
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.

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:

  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Assessment Tasks

Name Weighting Hurdle Due
Assessed coursework 10% No Throughout
Take home test 15% No 9 September 2019
Research assignment 20% No 30 September 2019
Exam 55% No To be advised

Assessed coursework

Due: Throughout
Weighting: 10%

Task Description:

Homework exercises form a critical part in the study process, as they serve to reinforce concepts that are covered in class or online. Students often fail a unit when they had not followed a consistent, disciplined approach over the session. To encourage consistent studies, students are required to submit homework online before seminars. The teaching staff will review and advise on whether exercises are satisfactorily attempted.

Lecturer will mark exercises on five (5) occasions. Marks are awarded for completeness and evidence that corrections had been made as appropriate.

The homework component is worth 7.5%, with each submission counting for 1.5%. The remaining 2.5% is based on your seminar participation, which may include your engagement and input in class.

Type of Collaboration: none - these are individual assessments Submission:  elctronically via iLearn
On successful completion you will be able to:
  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Take home test

Due: 9 September 2019
Weighting: 15%

Task Description: 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 is a take home test that must be completed individually. Further information will be provided on iLearn and in class. Type of Collaboration: none - this is an individual assignment Submission:  electronically via iLearn Late Submission:

Extensions

There are no extensions for this assessment. Students must complete the test at the designated time

Penalties

Students not submitting the take-home 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.
On successful completion you will be able to:
  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards

Research assignment

Due: 30 September 2019
Weighting: 20%

Task Description: Research assignment on financial reporting disclosures. Further information will be provided on iLearn Type of Collaboration: none - this is an individual assignment Submission:  electronically via iLearn Length: 2,000 words Late Submission:

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.
On successful completion you will be able to:
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Exam

Due: To be advised
Weighting: 55%

Task Description: The exam is a summative assessment designed to let you demonstrate the knowledge and skills you have attained in the previous three formative assessments. Type of Collaboration: none - this is an individual, closed book assessment Submission:  A three hour 10 minute examination for this unit will be held at a time and place to be advised on iLearn. Format: 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). Late Submission:

No extensions will be granted. Students who do not sit the class test will be awarded a mark of zero for the task except for cases in which an application for Special Consideration is approved. A supplementary test will be held at a later date. Students are advised that once a determination is made on their application for Special Consideration, they may not withdraw their application and must submit themselves to partake in the supplementary test.

As per the Special Consideration Procedure, students are also advised that the time and date deadline or format of the supplementary test as a result of a Special Consideration application is not negotiable and students must make themselves available to take the supplementary test. Failure to meet this requirement will result in a zero mark being awarded. No further supplementary test will be provided.

https://students.mq.edu.au/study/my-study-program/special-consideration
On successful completion you will be able to:
  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Delivery and Resources

Required Text:

Required Text Book

Students are to acquire both the Approved Workbook and the Practice and Revision Kit for Strategic Business Reporting, published by BPP Learning Media.

 

Unit Schedule

Wk

Topic/Content

1

Chapter 1  Financial reporting frameworks

Chapter 2  Professional and Ethical Duty

2

Chapter 3 Revenue

Chapter 4 Non current assets

3

Chapter 4 Non-current assets

Chapter 14 Non-current assets held for sale

Chapter 9 Leases

4

Chapter 5 Employee benefits

Chapter 6 Provisions, contingencies & post balance events

5

Chapter 7 Income taxes

Chapter 10 Share-based payment

Chapter 20 Effects of changes & potential changes in accounting regulation

6

Chapter 8 Financial instruments

7

Chapter 11 Basic groups

 

2-week break

8

debrief take-home test

Chapter 12 Changes in group structure - step acquisitions

Chapter 13 Changes in group structure - disposals & reorganisations

9

Chapter 15 Joint arrangement and group disclosures

Chapter 16 Foreign transactions and entities

Chapter 18 Interpreting financial statements

Chapter 19 Reporting requirements of SMEs

10

Chapter 17 Group statement of cash flows

11

Chapter 17 Group statement of cashflows continued

12

Revision and practice questions

13

Revision and practice questions

 

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 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

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

If you are a Global MBA student contact globalmba.support@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 - 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

  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Assessment tasks

  • Assessed coursework
  • Take home test
  • Research assignment
  • Exam

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

  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Assessment tasks

  • Assessed coursework
  • Take home test
  • Research assignment
  • Exam

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

  • Appraise and discuss the professional and ethical duties of accountants
  • Evaluate the financial reporting conceptual framework
  • Report the financial performance of a range of entities in accordance with International Financial Reporting Standards
  • Prepare financial statements of groups of entities
  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Assessment tasks

  • Assessed coursework
  • Take home test
  • Research assignment
  • Exam

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

  • Interpret financial statements for different stakeholders
  • Evaluate current developments and discuss the implications of changes in accounting regulation on financial reporting

Assessment task

  • Research assignment

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 outcome

  • Prepare financial statements of groups of entities

Assessment tasks

  • Assessed coursework
  • Take home test
  • Exam

PG - Engaged and Responsible, Active and Ethical Citizens

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:

Learning outcome

  • Appraise and discuss the professional and ethical duties of accountants