ADVANCED CORPORATE ACCOUNTING

ACC5CRE

2020

Credit points: 15

Subject outline

Advanced Corporate Accounting covers corporate financial accounting and reporting at postgraduate level. The purpose of the subject is to enable you to develop knowledge in understanding the Australian Accounting Standards Board's (AASB's) and the International Accounting Standards Board (IASB's) 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 consolidation, equity investments and joint arrangements are also discussed in the subject. Additionally, it provides the necessary background for understanding the financial reporting requirements in Australia.

SchoolLa Trobe Business School

Credit points15

Subject Co-ordinatorBalachandran Muniandy

Available to Study Abroad StudentsNo

Subject year levelYear Level 5 - Masters

Exchange StudentsNo

Subject particulars

Subject rules

Prerequisites ACC5AFM and ACC5FAS

Co-requisites ACC5AAI

Incompatible subjectsN/A

Equivalent subjectsN/A

Special conditionsN/A

Readings

Resource TypeTitleResource RequirementAuthor and YearPublisher
ReadingsAustralian Financial AccountingPrescribedDeegan, C. (Latest edition)Irwin McGraw-Hill, Australia

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 arrangements

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…

Start date between: and    Key dates

Melbourne, 2020, Semester 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorBalachandran Muniandy

Class requirements

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.

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.

Assessments

Assessment elementComments% ILO*
One Mid-Semester Test (equivalent to 1,000 words)20 01, 03
One Group Assignment (equivalent to 1,000 words per student)20 01, 03, 06
One 3-hour final examination (equivalent to 3,000 words)60 01, 02, 03, 04, 05, 06

Melbourne, 2020, Semester 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorBalachandran Muniandy

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 Mid-Semester Test (equivalent to 1,000 words)20 01, 03
One Group Assignment (equivalent to 1,000 words per student)20 01, 03, 06
One 3-hour final examination (equivalent to 3,000 words)60 01, 02, 03, 04, 05, 06

Sydney, 2020, Study Period 2, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorBalachandran Muniandy

Class requirements

Lecture Week: 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.

Tutorial Week: 32 - 42
One 1.0 hours tutorial per week on weekdays during the day from week 32 to week 42 and delivered via face-to-face.

Assessments

Assessment elementComments% ILO*
One Mid-Semester Test (equivalent to 1,000 words)20 01, 03
One Group Assignment (equivalent to 1,000 words per student)20 01, 03, 06
One 3-hour final examination (equivalent to 3,000 words)60 01, 02, 03, 04, 05, 06

Sydney, 2020, Study Period 1, Day

Overview

Online enrolmentYes

Maximum enrolment sizeN/A

Enrolment information

Subject Instance Co-ordinatorBalachandran Muniandy

Class requirements

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.

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.

Assessments

Assessment elementComments% ILO*
One Mid-Semester Test (equivalent to 1,000 words)20 01, 03
One Group Assignment (equivalent to 1,000 words per student)20 01, 03, 06
One 3-hour final examination (equivalent to 3,000 words)60 01, 02, 03, 04, 05, 06