acc2cre corporate reporting
CORPORATE REPORTING
ACC2CRE
2015
Credit points: 15
Subject outline
This subject covers corporate financial accounting and reporting at an undergraduate level. This subject provides students with a knowledge and understanding of financial reporting standards and their use in accounting measurements and disclosure practices. The subject 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. Students 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 (ICAA) and the CPA Australia. It also provides 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
Learning resources
Readings
Resource Type | Title | Resource Requirement | Author and Year | Publisher |
---|---|---|---|---|
Readings | Australian financial accounting | Prescribed | Deegan, C. | 6TH EDN. MCGRAW-HILL/IRWIN, 2009 |
Readings | Bendigo only: Financial Reporting Handbook | Prescribed | The Institute of Chartered Accountants in Australia | JOHN WILEY, 2011 |
Readings | Bendigo only: Accounting Handbook | Preliminary | CPA Australia | PRENTICE HALL, 2010/2011 |
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:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
02. Discuss the role of a conceptual framework and its relevance to financial reporting, and critically evaluate the existing framework
- Activities:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
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:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
04. Prepare consolidated financial statements on the basis of Australian Accounting Standards and account for equity investments and accounting entries for joint ventures
- Activities:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
05. Appraise the economic consequences of using different accounting methods on the financial statements
- Activities:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
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:
- Lectures and Tutorials
- Related graduate capabilities and elements:
- Literacies and Communication Skills(Writing,Speaking,Quantitative Literacy)
- Literacies and Communication Skills(Writing,Speaking,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)
Subject options
Select to view your study options…
Albury-Wodonga, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
TutorialWeek: 11 - 22
One 1.0 hours tutorial per week on weekdays during the day from week 11 to week 22 and delivered via face-to-face.
LectureWeek: 10 - 22
One 2.0 hours lecture per week on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Bendigo, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorJane Hamilton
Class requirements
LectureWeek: 10 - 22
One 2.0 hours lecture other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
TutorialWeek: 10 - 22
One 1.0 hours tutorial other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Dandenong, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
SeminarWeek: 10 - 22
One 2.0 hours seminar other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Dandenong, 2015, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Melbourne, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 10 - 22
One 2.0 hours lecture other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
TutorialWeek: 10 - 22
One 1.0 hours tutorial other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Melbourne, 2015, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 31 - 43
One 1.0 hours tutorial other recurrence on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Mildura, 2015, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 31 - 43
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
TutorialWeek: 32 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 32 to week 43 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Shepparton, 2015, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMaria Zito
Class requirements
LectureWeek: 10 - 22
One 2.0 hours lecture other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
TutorialWeek: 10 - 22
One 1.0 hours tutorial other recurrence on weekdays during the day from week 10 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Sydney, 2015, ACN Semester 1, Day
Overview
Online enrolmentNo
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 11 - 22
One 3.0 hours lecture other recurrence on weekdays during the day from week 11 to week 22 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Sydney, 2015, ACN Semester 2, Day
Overview
Online enrolmentNo
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 28 - 39
One 3.0 hours lecture other recurrence on weekdays during the day from week 28 to week 39 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |
Sydney, 2015, ACN Summer Semester, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
LectureWeek: 45 - 05
One 3.0 hours lecture other recurrence on weekdays during the day from week 45 to week 05 and delivered via face-to-face.
Assessments
Assessment element | Comments | % | ILO* |
---|---|---|---|
one 1-hour mid-semester test | There will be only one practical question comprising Statement of Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity and notes to account. The template or the pro-forma of the financial statement will be given during the exam and covering materials from Subject Learning Outcome 3. | 15 | 03 |
one 1000-word assignment | This task will help students to critically analyse the regulatory environment of financial reporting practices in Australia. It will also enable students how to apply accounting standards with regard to accounting for income taxes. | 15 | 01, 02 |
one 3-hour final examination | Hurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject | 70 | 01, 02, 03, 04, 05, 06 |