CORPORATE REPORTING

ACC2CRE

2018

Credit points: 15

Subject outline

This subject covers corporate financial accounting and reporting at an undergraduate level. This subject provides you with a knowledge and understanding of financial reporting standards and their use in accounting measurements and disclosure practices. It focuses on the Australian external reporting environment, and the role of the conceptual framework and its relevance to financial reporting. It also deals with the evaluation and application of selected accounting standards for property, plant and equipment, intangible assists and income tax. You will also learn about accounting for group structure, equity investments and joint ventures. This subject is designed to meet the preliminary requirements of the Institute of Chartered Accountants in Australia (CA) and the CPA Australia. It also provides you the necessary background for understanding the financial reporting requirements in Australia.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorMuhammad Ali

Available to Study Abroad StudentsNo

Subject year levelYear Level 2 - UG

Exchange StudentsNo

Subject particulars

Subject rules

Prerequisites ACC1IFA or ACC1AIS

Co-requisitesN/A

Incompatible subjectsN/A

Equivalent subjects ACC2FNA

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsFinancial ReportingRecommendedLoftus et al. (2015)Wiley
ReadingsAccounting HarndbookRecommendedCPA AustraliaPrentice Hall, Australia
ReadingsFinancial Reporting HandbookRecommendedCAWiley, Australia
ReadingsCompany Accounting in AustraliaRecommendedLeo, K. J., Hoggett, J.R., & Sweeting, J. 2015Wiley, Australia
ReadingsAustralian Financial AccountingPrescribedDeegan, C. (8th Ed.,)McGraw-Hill Australia

Graduate capabilities & intended learning outcomes

01. Apply the regulatory framework for financial reporting in Australia to practical situations and provide arguments for and against accounting regulations

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

02. Discuss the role of a conceptual framework and its relevance to financial reporting, and critically evaluate the existing framework

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

03. Analyse and apply accounting standards to practical situations with regard to non-current assets, accounting for income taxes and the preparation of corporate financial statements

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

04. Prepare consolidated financial statements on the basis of Australian Accounting Standards and account for equity investments and accounting entries for joint ventures

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

05. Appraise the economic consequences of using different accounting methods on the financial statements

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

06. Critically evaluate the information needs of users of financial statements (including social and environmental performance) and the mandatory requirements for the preparation and presentation of financial statements

Activities:
Workshops and online activities
Related graduate capabilities and elements:
Literacies and Communication Skills (Quantitative Literacy)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Inquiry and Analytical Skills (Critical Thinking,Creative Problem-solving,Inquiry/Research)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Personal and Professional Skills (Teamwork including leadership and working in groups,Ethical behaviour)
Discipline -Specific Knowledge and Skills (Discipline-Specific Knowledge and Skills)

Subject options

Select to view your study options…

Start date between: and    Key dates

Albury-Wodonga, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Bendigo, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Dandenong, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Dandenong, 2018, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 31 - 43
One 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Melbourne, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Melbourne, 2018, Semester 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 31 - 43
One 2.0 hours workshop per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Mildura, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Shepparton, 2018, Semester 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Sydney, 2018, Study Period 1, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 10 - 22
One 2.0 hours workshop per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Sydney, 2018, Study Period 2, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop Week: 31 - 42
One 2.0 hours workshop per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06

Sydney, 2018, Study Period 3, Blended

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

WorkShop
One 2.0 hours workshop per week on weekdays during the day and delivered via face-to-face.
"One 2-hour weekly face-to-face interactive workshop supported by online lectures and other learning tools under the blended delivery mode"

Assessments

Assessment elementComments% ILO*
On-line Quiz (equivalent to 1000 words)20 01, 02, 03, 05, 06
Group Workshop case studies (equivalent to 500 words per student)These tasks will help you to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards. Each group member's contribution to the teamwork will be assessed through the Students Statement that all group members have contributed equally in writing assignments.20 01, 02, 03, 04, 05, 06
One 3-hour final examinationHurdle requirement: You must achieve at least 45% in the final examination as well as an overall total of 50% to pass the subject60 01, 02, 03, 04, 05, 06