acc5cre corporate reporting
CORPORATE REPORTING
ACC5CRE
2016
Credit points: 15
Subject outline
In this subject you will build on the foundations laid in the units Accounting for Management Decisions and Financial Accounting. Corporate Reporting covers corporate financial accounting and reporting at a post-graduate level. The purpose of the subject is to enable you to develop knowledge in understanding the Financial Reporting Standards and their use in the accounting measurement and disclosure practices. The subject focuses on the Australian external reporting environment, and the role of 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 assets and income tax. Accounting for group structure, equity investments and joint ventures are also discussed in the subject. This subject is designed to meet the preliminary requirements of the Chartered Accountants Australia and New Zealand (CA) and the Certified Public Accountants (CPA) Australia. Additionally, it 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 5 - Masters
Exchange StudentsNo
Subject particulars
Subject rules
Prerequisites ACC5AFM and ACC5FAS
Co-requisitesN/A
Incompatible subjectsN/A
Equivalent subjectsN/A
Special conditionsN/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Australian Financial Accounting (7th Edition) | Prescribed | Deegan, C. 2012 | Irwin McGraw-Hill, Australia |
| Readings | Accounting Handbook | Recommended | CPA Australia 2016 | John Wiley Australia |
| Readings | Financial Reporting Handbook | Recommended | CA, 2016 | Prentice Hall, Australia |
| Readings | Company Accounting in Australia, (9th Edition) | Recommended | Leo, K. J., Hoggett, J.R. & Sweeting, J. (2015) | John Wiley |
Graduate capabilities & intended learning outcomes
01. Apply the regulatory framework for financial reporting in Australia, use them in practical situations and provide arguments for and against accounting regulations and international harmonization
- Activities:
- Tutorial work, examination
- 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, its relevance to financial reporting and critically evaluate the existing framework
- Activities:
- Lectures and tutorials
- 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 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(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, learn how to account for equity investments and accounting entries for joint ventures
- Activities:
- Lectures and tutorials
- 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:
- Lectures and tutorials
- 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 in addition to mandatory requirements for the preparation and presentation of financial statements
- Activities:
- Lectures and tutorials
- 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…
Melbourne, 2016, Semester 1, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
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.
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.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| On-line Quiz | The duration of the test will be 60 minutes | 10 | 01, 02, 03, 05, 06 |
| One 1,500 words assignment | This task will help you to analyse the corporate financial reporting practices | 20 | 01, 02, 03, 05 |
| one 2-hour final examination | Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the unit. | 70 | 01, 03, 04, 05 |
Melbourne, 2016, Semester 2, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
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.
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* |
|---|---|---|---|
| On-line Quiz | The duration of the test will be 60 minutes | 10 | 01, 02, 03, 05, 06 |
| One 1,500 words assignment | This task will help you to analyse the corporate financial reporting practices | 20 | 01, 02, 03, 05 |
| one 2-hour final examination | Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the unit. | 70 | 01, 03, 04, 05 |
Sydney, 2016, Study Period 3, Day
Overview
Online enrolmentYes
Maximum enrolment sizeN/A
Enrolment information
Subject Instance Co-ordinatorMuhammad Ali
Class requirements
Lecture
One 2.0 hours lecture other recurrence on weekdays during the day and delivered via face-to-face.
Tutorial
One 1.0 hours tutorial other recurrence on weekdays during the day and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| On-line Quiz | The duration of the test will be 60 minutes | 10 | 01, 02, 03, 05, 06 |
| One 1,500 words assignment | This task will help you to analyse the corporate financial reporting practices | 20 | 01, 02, 03, 05 |
| one 2-hour final examination | Students must achieve at least 40% in the final examination as well as an overall total of 50% to pass the unit. | 70 | 01, 03, 04, 05 |