ADVANCED CORPORATE ACCOUNTING
ACC5CRE
2019
Credit points: 15
Subject outline
In this subject you will build on the foundations laid in prior accounting subjects. Advanced Corporate Accounting 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 (CAANZ) and the Certified Practising Accountants (CPA) Australia. Additionally, it provides the necessary background for understanding the financial reporting requirements in Australia.
School: La Trobe Business School
Credit points: 15
Subject Co-ordinator: Muhammad Ali
Available to Study Abroad Students: No
Subject year level: Year Level 5 - Masters
Exchange Students: No
Subject particulars
Subject rules
Prerequisites: ACC5AFM and ACC5FAS
Co-requisites: ACC5AAI
Incompatible subjects: N/A
Equivalent subjects: N/A
Special conditions: N/A
Learning resources
Readings
| Resource Type | Title | Resource Requirement | Author and Year | Publisher |
|---|---|---|---|---|
| Readings | Australian Financial Accounting (8h Edition) | Prescribed | Deegan, C. | Irwin McGraw-Hill, Australia |
| Readings | Accounting Handbook | Recommended | CPA Australia | John Wiley Australia |
| Readings | Financial Reporting Handbook | Recommended | CA | 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:
- 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)
- 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)
Melbourne, 2019, Semester 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Muhammad Ali
Class requirements
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.
TutorialWeek: 10 - 22
One 1.0 hours tutorial 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 Mid-Semester Test (equivalent to 1000 words) | 20 | 01, 02, 03, 05, 06 | |
| One Group Assignment (equivalent to 1,000 words per student) | 20 | 01, 02, 03, 05, 06 | |
| One 3-hour final examination (equivalent to 3,000 words) | 60 | 01, 02, 03, 04, 05, 06 |
Melbourne, 2019, Semester 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Muhammad 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: 31 - 43
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 43 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| One Mid-Semester Test (equivalent to 1000 words) | 20 | 01, 02, 03, 05, 06 | |
| One Group Assignment (equivalent to 1,000 words per student) | 20 | 01, 02, 03, 05, 06 | |
| One 3-hour final examination (equivalent to 3,000 words) | 60 | 01, 02, 03, 04, 05, 06 |
Sydney, 2019, Study Period 3, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Balachandran Muniandy
Class requirements
Lecture
One 2.0 hours lecture per week on weekdays during the day and delivered via face-to-face.
Tutorial
One 1.0 hours tutorial per week on weekdays during the day and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| One Mid-Semester Test (equivalent to 1000 words) | 20 | 01, 02, 03, 05, 06 | |
| One Group Assignment (equivalent to 1,000 words per student) | 20 | 01, 02, 03, 05, 06 | |
| One 3-hour final examination (equivalent to 3,000 words) | 60 | 01, 02, 03, 04, 05, 06 |
Sydney, 2019, Study Period 2, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Muhammad Ali
Class requirements
LectureWeek: 31 - 42
One 2.0 hours lecture per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
TutorialWeek: 31 - 42
One 1.0 hours tutorial per week on weekdays during the day from week 31 to week 42 and delivered via face-to-face.
Assessments
| Assessment element | Comments | % | ILO* |
|---|---|---|---|
| One Mid-Semester Test (equivalent to 1000 words) | 20 | 01, 02, 03, 05, 06 | |
| One Group Assignment (equivalent to 1,000 words per student) | 20 | 01, 02, 03, 05, 06 | |
| One 3-hour final examination (equivalent to 3,000 words) | 60 | 01, 02, 03, 04, 05, 06 |
Sydney, 2019, Study Period 1, Day
Overview
Online enrolment: Yes
Maximum enrolment size: N/A
Enrolment information:
Subject Instance Co-ordinator: Muhammad Ali
Class requirements
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.
TutorialWeek: 10 - 22
One 1.0 hours tutorial 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 Mid-Semester Test (equivalent to 1000 words) | 20 | 01, 02, 03, 05, 06 | |
| One Group Assignment (equivalent to 1,000 words per student) | 20 | 01, 02, 03, 05, 06 | |
| One 3-hour final examination (equivalent to 3,000 words) | 60 | 01, 02, 03, 04, 05, 06 |