AYN417 Corporate Accounting
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYN417 |
|---|---|
| Prerequisite(s): | AYN416 or enrolment in BS11 Accountancy major (BS11MJR-ACCOUNT) |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| Domestic tuition unit fee | $4,092 |
| International unit fee | $4,584 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYN417 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN416 or enrolment in BS11 Accountancy major (BS11MJR-ACCOUNT) |
| Coordinator: | Julie-Anne Mee | j2.mee@qut.edu.au |
Overview
A large number of entities are companies rather than, for example, sole traders or partnerships. Accordingly, a significant amount of the work you will undertake as a practitioner will involve accounting for companies. In this context, accountants are required to interpret and apply accounting standards, and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. Accountants are also required to integrate and apply academic accounting knowledge to solving problems that arise in practice. This unit contributes to the knowledge and skills you will need to prepare financial reports for companies.
This unit builds on the prerequisite unit by applying accounting principles to complex company accounting issues. It also provides a foundation for subsequent units, which develop critical analytical skills through an examination of theoretical accounting issues, accounting regulation and practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of regulations relating to the registration, funding and financial reporting of corporate entities, including the form and content of the financial reports.
- Examine and evaluate the accounting procedures required by corporate regulation and accounting standards.
- Prepare written analyses relating to financial reporting issues.
- Work collaboratively to analyse & compare companies' accounting disclosures.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit commences with an overview of the corporate financial reporting environment in Australia. The unit then examines the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). Complementing a focus on the practical application of accounting methods, the decision-usefulness of information produced under the different accounting methods is also critically reviewed. Thus, this unit has broad appeal and will be of interest to people involved in the preparation or use of company financial statements whether as accountants, auditors, investment bankers, financial analysts or other financial statement users.
Australian accounting standards have been harmonised with the standards issued by the International Accounting Standards Board. As a consequence, from 1 January 2005 entities applying Australian standards will also comply with International Financial Reporting Standards. The accounting policies and issues taught in this unit will therefore provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The aim of the weekly lecture/workshop is to provide an overview of the weekly topic, illustrations and examples, and explain complex issues.
Tutorial questions will be provided each week to enable students to further develop their technical and problem solving skills. These questions should be attempted in conjunction with the weekly assigned reading material. An online tutorial will also be conducted weekly to review the material and an assigned question.
All formal classes, the course material and other specified reading are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Weekly workshop and tutorial questions provide practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Lecture materials (PowerPoint slides, lecture examples, and case studies) and solutions to tutorial questions will be available each week from the AYN417 Canvas site. You should download the lecture materials each week from the AYN417 Canvas site and bring them with you to the lecture. The lecture slides also detail the tutorial questions assigned for the topic, usually on the last slide(s).
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation;
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary;
- Direct: to individual students, either in written form or in consultation; and
- Indirect: to the whole class.
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Online Quiz
The mid-semester examination will be conducted as an on-line quiz.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Group Project and Reflection
Purpose: The objective is to
- (1) prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the Unit;
- (2) participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- (3) prepare a reflection to develop reflective thinking skills based on your group work experience.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The final examination relates to topics 5-12 and consists of practical, theoretical and critical thinking questions. Students will be assessed on the adequacy of their answer in relation to their demonstrated knowledge of accounting procedures and statutory requirements. Communication and reflection on group work will also be assessed.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1), TS (4.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2022). Financial Reporting, 4th edition. Brisbane: John Wiley & Sons
Headset with Microphone and headphones so that you can participate in online lectures/tutorials/workshops.
Reference book(s)
Carnegie, G. 2005. Case Studies: Financial Accounting & Disclosure, 4th ed. Melbourne: Thomson.
CCH. 2022. Australian Corporations and Securities Legislation. Sydney: CCH Australia Ltd.
Lewis, D. 2003. Writing for Accountants, QUT (copies can be downloaded from the Graduate capabilities site on Canvas).
Other
Students would normally be expected to purchase the prescribed text books and print lecture and tutorial materials and appropriate documents from the Canvas site and/or CMD
QUT has a guide for writing and presenting essays called QUT cite|write. This guide includes a suite of short pamphlets on essay writing techniques, and a series of four guides on citing references correctly. Students may find this guide useful for the group assignment. To view and download selected guides and sections of QUT cite|write go to www.citewrite.qut.edu.au http://www.citewrite.qut.edu.au.
Students are required to have a head-set for participation in the on-line collaborate (consulting and tutorial) sessions.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You will be expected to:
- Purchase the prescribed textbook/other associated software
- Print lecture and tutorial materials and appropriate documents from the Canvas site and/or QUT Readings if appropriate
- Headset with a microphone and headphones.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Unit Outline: Semester 1 2024, Online
| Unit code: | AYN417 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN416 or enrolment in BS11 Accountancy major (BS11MJR-ACCOUNT) |
Overview
A large number of entities are companies rather than, for example, sole traders or partnerships. Accordingly, a significant amount of the work you will undertake as a practitioner will involve accounting for companies. In this context, accountants are required to interpret and apply accounting standards, and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. Accountants are also required to integrate and apply academic accounting knowledge to solving problems that arise in practice. This unit contributes to the knowledge and skills you will need to prepare financial reports for companies.
This unit builds on the prerequisite unit by applying accounting principles to complex company accounting issues. It also provides a foundation for subsequent units, which develop critical analytical skills through an examination of theoretical accounting issues, accounting regulation and practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of regulations relating to the registration, funding and financial reporting of corporate entities, including the form and content of the financial reports.
- Examine and evaluate the accounting procedures required by corporate regulation and accounting standards.
- Prepare written analyses relating to financial reporting issues.
- Work collaboratively to analyse & compare companies' accounting disclosures.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit commences with an overview of the corporate financial reporting environment in Australia. The unit then examines the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). Complementing a focus on the practical application of accounting methods, the decision-usefulness of information produced under the different accounting methods is also critically reviewed. Thus, this unit has broad appeal and will be of interest to people involved in the preparation or use of company financial statements whether as accountants, auditors, investment bankers, financial analysts or other financial statement users.
Australian accounting standards have been harmonised with the standards issued by the International Accounting Standards Board. As a consequence, from 1 January 2005 entities applying Australian standards will also comply with International Financial Reporting Standards. The accounting policies and issues taught in this unit will therefore provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The aim of the weekly lecture/workshop is to provide an overview of the weekly topic, illustrations and examples, and explain complex issues.
Tutorial questions will be provided each week to enable students to further develop their technical and problem solving skills. These questions should be attempted in conjunction with the weekly assigned reading material. An online tutorial will also be conducted weekly to review the material and an assigned question.
All formal classes, the course material and other specified reading are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Weekly workshop and tutorial questions provide practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Lecture materials (PowerPoint slides, lecture examples, and case studies) and solutions to tutorial questions will be available each week from the AYN417 Canvas site. You should download the lecture materials each week from the AYN417 Canvas site and bring them with you to the lecture. The lecture slides also detail the tutorial questions assigned for the topic, usually on the last slide(s).
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation;
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary;
- Direct: to individual students, either in written form or in consultation; and
- Indirect: to the whole class.
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Online Quiz
The mid-semester examination will be conducted as an on-line quiz.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Group Project and Reflection
Purpose: The objective is to
- (1) prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the Unit;
- (2) participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- (3) prepare a reflection to develop reflective thinking skills based on your group work experience.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The final examination relates to topics 5-12 and consists of practical, theoretical and critical thinking questions. Students will be assessed on the adequacy of their answer in relation to their demonstrated knowledge of accounting procedures and statutory requirements. Communication and reflection on group work will also be assessed.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1), TS (4.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2022). Financial Reporting, 4th edition. Brisbane: John Wiley & Sons
Headset with Microphone and headphones so that you can participate in online lectures/tutorials/workshops.
Reference book(s)
Carnegie, G. 2005. Case Studies: Financial Accounting & Disclosure, 4th ed. Melbourne: Thomson.
CCH. 2022. Australian Corporations and Securities Legislation. Sydney: CCH Australia Ltd.
Lewis, D. 2003. Writing for Accountants, QUT (copies can be downloaded from the Graduate capabilities site on Canvas).
Other
Students would normally be expected to purchase the prescribed text books and print lecture and tutorial materials and appropriate documents from the Canvas site and/or CMD
QUT has a guide for writing and presenting essays called QUT cite|write. This guide includes a suite of short pamphlets on essay writing techniques, and a series of four guides on citing references correctly. Students may find this guide useful for the group assignment. To view and download selected guides and sections of QUT cite|write go to www.citewrite.qut.edu.au http://www.citewrite.qut.edu.au.
Students are required to have a head-set for participation in the on-line collaborate (consulting and tutorial) sessions.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You will be expected to:
- Purchase the prescribed textbook/other associated software
- Print lecture and tutorial materials and appropriate documents from the Canvas site and/or QUT Readings if appropriate
- Headset with a microphone and headphones.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYN417 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN416 or enrolment in BS11 Accountancy major (BS11MJR-ACCOUNT) |
| Coordinator: | Julie-Anne Mee | j2.mee@qut.edu.au |
Overview
A large number of entities are companies rather than, for example, sole traders or partnerships. Accordingly, a significant amount of the work you will undertake as a practitioner will involve accounting for companies. In this context, accountants are required to interpret and apply accounting standards, and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. Accountants are also required to integrate and apply academic accounting knowledge to solving problems that arise in practice. This unit contributes to the knowledge and skills you will need to prepare financial reports for companies.
This unit builds on the prerequisite unit by applying accounting principles to complex company accounting issues. It also provides a foundation for subsequent units, which develop critical analytical skills through an examination of theoretical accounting issues, accounting regulation and practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of regulations relating to the registration, funding and financial reporting of corporate entities, including the form and content of the financial reports.
- Examine and evaluate the accounting procedures required by corporate regulation and accounting standards.
- Prepare written analyses relating to financial reporting issues.
- Work collaboratively to analyse & compare companies' accounting disclosures.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit commences with an overview of the corporate financial reporting environment in Australia. The unit then examines the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). Complementing a focus on the practical application of accounting methods, the decision-usefulness of information produced under the different accounting methods is also critically reviewed. Thus, this unit has broad appeal and will be of interest to people involved in the preparation or use of company financial statements whether as accountants, auditors, investment bankers, financial analysts or other financial statement users.
Australian accounting standards have been harmonised with the standards issued by the International Accounting Standards Board. As a consequence, from 1 January 2005 entities applying Australian standards will also comply with International Financial Reporting Standards. The accounting policies and issues taught in this unit will therefore provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The aim of the weekly lecture/workshop is to provide an overview of the weekly topic, illustrations and examples, and explain complex issues.
Tutorial questions will be provided each week to enable students to further develop their technical and problem solving skills. These questions should be attempted in conjunction with the weekly assigned reading material. An online tutorial will also be conducted weekly to review the material and an assigned question.
All formal classes, the course material and other specified reading are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Weekly workshop and tutorial questions provide practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Lecture materials (PowerPoint slides, lecture examples, and case studies) and solutions to tutorial questions will be available each week from the AYN417 Canvas site. You should download the lecture materials each week from the AYN417 Canvas site and bring them with you to the lecture. The lecture slides also detail the tutorial questions assigned for the topic, usually on the last slide(s).
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation;
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary;
- Direct: to individual students, either in written form or in consultation; and
- Indirect: to the whole class.
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Online Quiz
The mid-semester examination will be conducted as an on-line quiz.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Group Project and Reflection
Purpose: The objective is to
- (1) prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the Unit;
- (2) participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- (3) prepare a reflection to develop reflective thinking skills based on your group work experience.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The final examination relates to topics 5-12 and consists of practical, theoretical and critical thinking questions. Students will be assessed on the adequacy of their answer in relation to their demonstrated knowledge of accounting procedures and statutory requirements. Communication and reflection on group work will also be assessed.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1), TS (4.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2022). Financial Reporting, 4th edition. Brisbane: John Wiley & Sons
Headset with Microphone and headphones so that you can participate in online lectures/tutorials/workshops.
Reference book(s)
Carnegie, G. 2005. Case Studies: Financial Accounting & Disclosure, 4th ed. Melbourne: Thomson.
CCH. 2022. Australian Corporations and Securities Legislation. Sydney: CCH Australia Ltd.
Lewis, D. 2003. Writing for Accountants, QUT (copies can be downloaded from the Graduate capabilities site on Canvas).
Other
Students would normally be expected to purchase the prescribed text books and print lecture and tutorial materials and appropriate documents from the Canvas site and/or CMD
QUT has a guide for writing and presenting essays called QUT cite|write. This guide includes a suite of short pamphlets on essay writing techniques, and a series of four guides on citing references correctly. Students may find this guide useful for the group assignment. To view and download selected guides and sections of QUT cite|write go to www.citewrite.qut.edu.au http://www.citewrite.qut.edu.au.
Students are required to have a head-set for participation in the on-line collaborate (consulting and tutorial) sessions.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You will be expected to:
- Purchase the prescribed textbook/other associated software
- Print lecture and tutorial materials and appropriate documents from the Canvas site and/or QUT Readings if appropriate
- Headset with a microphone and headphones.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.
Unit Outline: Semester 2 2024, Online
| Unit code: | AYN417 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN416 or enrolment in BS11 Accountancy major (BS11MJR-ACCOUNT) |
Overview
A large number of entities are companies rather than, for example, sole traders or partnerships. Accordingly, a significant amount of the work you will undertake as a practitioner will involve accounting for companies. In this context, accountants are required to interpret and apply accounting standards, and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. Accountants are also required to integrate and apply academic accounting knowledge to solving problems that arise in practice. This unit contributes to the knowledge and skills you will need to prepare financial reports for companies.
This unit builds on the prerequisite unit by applying accounting principles to complex company accounting issues. It also provides a foundation for subsequent units, which develop critical analytical skills through an examination of theoretical accounting issues, accounting regulation and practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of regulations relating to the registration, funding and financial reporting of corporate entities, including the form and content of the financial reports.
- Examine and evaluate the accounting procedures required by corporate regulation and accounting standards.
- Prepare written analyses relating to financial reporting issues.
- Work collaboratively to analyse & compare companies' accounting disclosures.
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. The unit commences with an overview of the corporate financial reporting environment in Australia. The unit then examines the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). Complementing a focus on the practical application of accounting methods, the decision-usefulness of information produced under the different accounting methods is also critically reviewed. Thus, this unit has broad appeal and will be of interest to people involved in the preparation or use of company financial statements whether as accountants, auditors, investment bankers, financial analysts or other financial statement users.
Australian accounting standards have been harmonised with the standards issued by the International Accounting Standards Board. As a consequence, from 1 January 2005 entities applying Australian standards will also comply with International Financial Reporting Standards. The accounting policies and issues taught in this unit will therefore provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you to meet the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply integrated and advanced discipline and professional practice knowledge, including knowledge of relevant research principles and methods.
1.2 Apply technical, technological and technical research skills to organise and interpret discipline knowledge, including theory and practice, to investigate business issues.
Higher Order Thinking Skills (HO)
2.1 Critically investigate real world business issues and problems drawing on analysis, evaluation and synthesis of discipline knowledge, including theory and practice.
2.2 Exercise creativity and intellectual independence and make informed decisions and judgements in planning, designing, and executing strategic and research-based responses to address real world issues and problems.
Professional Communication (PC)
3.1 Use information literacy skills and communicate effectively and professionally in written forms and using media appropriate for diverse purposes, contexts and audiences.
3.2 Use information literacy skills and communicate effectively and professionally in oral forms appropriate for diverse purposes, contexts and audiences.
Teamwork & Self (TS)
4.1 Exercise self-reflection and accountability in applying knowledge and skills for own learning and effective practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across a range of complex activities and contexts.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices of business in critically analysing and effectively responding to complex business issues.
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues and critically reflect on the responsibilities and impacts of organisations in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. The aim of the weekly lecture/workshop is to provide an overview of the weekly topic, illustrations and examples, and explain complex issues.
Tutorial questions will be provided each week to enable students to further develop their technical and problem solving skills. These questions should be attempted in conjunction with the weekly assigned reading material. An online tutorial will also be conducted weekly to review the material and an assigned question.
All formal classes, the course material and other specified reading are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Weekly workshop and tutorial questions provide practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Lecture materials (PowerPoint slides, lecture examples, and case studies) and solutions to tutorial questions will be available each week from the AYN417 Canvas site. You should download the lecture materials each week from the AYN417 Canvas site and bring them with you to the lecture. The lecture slides also detail the tutorial questions assigned for the topic, usually on the last slide(s).
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation;
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary;
- Direct: to individual students, either in written form or in consultation; and
- Indirect: to the whole class.
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Students may be required to attend campus or an assessment centre for the purposes of assessment, regardless of the attendance mode for the unit.
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Online Quiz
The mid-semester examination will be conducted as an on-line quiz.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1)
Assessment: Group Project and Reflection
Purpose: The objective is to
- (1) prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the Unit;
- (2) participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- (3) prepare a reflection to develop reflective thinking skills based on your group work experience.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.2)
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Assessment: Final Exam
The final examination will be held in the formal examination period at the end of the semester, with the date and time of the exam set by Central Examinations. The final examination relates to topics 5-12 and consists of practical, theoretical and critical thinking questions. Students will be assessed on the adequacy of their answer in relation to their demonstrated knowledge of accounting procedures and statutory requirements. Communication and reflection on group work will also be assessed.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1), TS (4.2)
This examination will be an invigilated face-to-face exam undertaken either on campus or at an examination centre.
Academic Integrity
Students are expected to engage in learning and assessment at QUT with honesty, transparency and fairness. Maintaining academic integrity means upholding these principles and demonstrating valuable professional capabilities based on ethical foundations.
Failure to maintain academic integrity can take many forms. It includes cheating in examinations, plagiarism, self-plagiarism, collusion, and submitting an assessment item completed by another person (e.g. contract cheating). It can also include providing your assessment to another entity, such as to a person or website.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Further details of QUT’s approach to academic integrity are outlined in the Academic integrity policy and the Student Code of Conduct. Breaching QUT’s Academic integrity policy is regarded as student misconduct and can lead to the imposition of penalties ranging from a grade reduction to exclusion from QUT.
Resources
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2022). Financial Reporting, 4th edition. Brisbane: John Wiley & Sons
Headset with Microphone and headphones so that you can participate in online lectures/tutorials/workshops.
Reference book(s)
Carnegie, G. 2005. Case Studies: Financial Accounting & Disclosure, 4th ed. Melbourne: Thomson.
CCH. 2022. Australian Corporations and Securities Legislation. Sydney: CCH Australia Ltd.
Lewis, D. 2003. Writing for Accountants, QUT (copies can be downloaded from the Graduate capabilities site on Canvas).
Other
Students would normally be expected to purchase the prescribed text books and print lecture and tutorial materials and appropriate documents from the Canvas site and/or CMD
QUT has a guide for writing and presenting essays called QUT cite|write. This guide includes a suite of short pamphlets on essay writing techniques, and a series of four guides on citing references correctly. Students may find this guide useful for the group assignment. To view and download selected guides and sections of QUT cite|write go to www.citewrite.qut.edu.au http://www.citewrite.qut.edu.au.
Students are required to have a head-set for participation in the on-line collaborate (consulting and tutorial) sessions.
Risk Assessment Statement
There are no out-of-the-ordinary risks associated with lectures or tutorials in this unit.
You will be expected to:
- Purchase the prescribed textbook/other associated software
- Print lecture and tutorial materials and appropriate documents from the Canvas site and/or QUT Readings if appropriate
- Headset with a microphone and headphones.
You should, however, familiarise yourself with evacuation procedures operating in the buildings in which you attend classes and take the time to
view the Emergency video.