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

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsAustralian financial accountingPrescribedDeegan, C.6TH EDN. MCGRAW-HILL/IRWIN, 2009
ReadingsBendigo only: Financial Reporting HandbookPrescribedThe Institute of Chartered Accountants in AustraliaJOHN WILEY, 2011
ReadingsBendigo only: Accounting HandbookPreliminaryCPA AustraliaPRENTICE 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…

Start date between: and    Key dates

Albury-Wodonga, 2015, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorMuhammad Ali

Class requirements

Tutorial Week: 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.

Lecture Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Seminar Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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.

Tutorial Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 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

Lecture Week: 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 elementComments% ILO*
one 1-hour mid-semester testThere 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 assignmentThis 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 examinationHurdle requirement: Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the subject70 01, 02, 03, 04, 05, 06