AYB311 Financial Accounting Issues
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: | AYB311 |
|---|---|
| Prerequisite(s): | AYB340 |
| Equivalent(s): | AYX311 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $2,040 |
| Pre-2021 CSP student contribution | $1,597 The pre-2021 commonwealth supported place (CSP) contribution amount only applies to students enrolled in a course prior to 2021. To learn more, visit our Understanding your fees page. |
| Domestic tuition unit fee | $3,024 |
| International unit fee | $4,176 |
Unit Outline: Semester 1 2024, Gardens Point, Internal
| Unit code: | AYB311 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB340 |
| Equivalent: | AYX311 |
| Coordinator: | Yuyu Zhang | yuyu.zhang@qut.edu.au |
Overview
This unit extends the knowledge acquired in earlier accounting units to examine accounting theories and reporting practices adopted in the financial statements of reporting entities and publicly listed companies to meet the decision-making needs of external parties. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, how regulatory requirements and incentives affect financial reporting. The unit explores the different governance models of corporations and relates them to their financial reporting environment. This framework provides a basis for examining specific accounting issues with an emphasis on both the application of specific accounting measurement models (e.g. historic cost versus fair value) or regulatory provisions (e.g. continuous disclosure requirements). The unit also analyses key issues of debate in the international arena.
Learning Outcomes
On successful completion of this unit you will be able to:
- Integrate and apply knowledge of Australian and international financial reporting regulation to evaluate decisions by regulators and corporations in formulating and applying accounting standards in the disclosure of financial and non-financial information.
- Develop well researched and critically considered opinions and judgements concerning theoretical and practical standard setting in accounting, drawing on relevant research and practice and convey this using oral and written communication techniques.
- Use accounting frameworks to critically analyse current financial reporting issues encountered by accountants, auditors, regulators and users of financial information, and develop well-supported arguments to inform decision making.Relates to: UG Business Capabilities: HO (2.2)
Content
- Conceptual framework, standard-setting and international harmonisation
- Corporate governance worldwide and accounting theories
- Capital market research, earnings quality and corporate disclosure
- Measurement issues in accounting
- Companies without public accountability
It should be noted that Australian Accounting Standards have been harmonised with the standards issued by the International Accounting Standards Board (IASB). The accounting policies and issues taught in this unit, as highlighted in the content outline above, will, therefore, provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Undergraduate)
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 and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. The emphasis in Financial Accounting Issues is to equip students with the necessary skills to understand financial accounting theories and apply these theoretical concepts to contemporary practical accounting issues.
Lectures and tutorials:
All learning material other than the prescribed text will be made available online using the unit's Canvas site. Students are encouraged to download the resources provided on the unit Canvas site before the teaching sessions.
Weekly lecture and tutorial sessions will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester that may include:
- Informal: 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
- 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: Oral Presentation
Each student will address a presentation question where they will present their response to their tutorial group. The presentation questions are based on the lecture topic and learning objectives. For this assessment item, students are given the question they must answer in advance. The required length of the presentation is 8-10 minutes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Research Paper
To enable students to demonstrate their discipline knowledge, research skills, decision-making skills and written communication skills within the context of a specific accounting problem. Students will receive instructions about the research paper by the end of week 3.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
The examination will cover Weeks 1 to 12 inclusive. The exam tests content knowledge as well as critical ability in mastering the topics covered in the unit.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
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)
Contemporary Issues in Accounting (2022) by Rankin, Ferlauto, McGowan, Stanton
The text is available as a hard copy or e-book. See unit Canvas site for more information.
Reference book(s)
Scott, W. R. (2009) Financial Accounting Theory. Fifth Edition. Pearson Education.
Deegan, Craig (2014) Financial Accounting Theory, Third Edition. McGraw-Hill Australia.
Other
Additional Readings:
Students are required to use additional readings that will be made available throughout the course on the Canvas site or through the electronic resources available in the QUT Library:
- ASX Listing Regulations
- ASX Corporate Governance Principles and Guidelines
Other Resources - Accounting and Business Journals:
Australia:
- Australian CPA (CPA Australia)
- Charter (CAANZ)
- Accounting and Finance
- Accounting Research Journal
- Australian Accounting Review
- Accounting Forum
- Accounting Auditing and Accountability Journal
United States of America:
- The Accounting Review
- Journal of Accounting Research
- Accounting Horizons
- Journal of Accounting and Economics
United Kingdom:
- Accounting and Business Research
- Accounting, Organisations and Society
- British Accounting Review
- European Accounting Review
- Journal of Business Finance and Accounting
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. 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.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Research Paper, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO2, Research Paper
PC (3.2): Professional Communication (Oral)
Relates to: ULO2, Oral Presentation
SE (5.1): Ethical and Legal Understanding
Relates to: ULO1, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, Research Paper, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, Research Paper - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO2, Oral Presentation - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO1, Final Examination
Unit Outline: Semester 1 2024, Online
| Unit code: | AYB311 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB340 |
| Equivalent: | AYX311 |
Overview
This unit extends the knowledge acquired in earlier accounting units to examine accounting theories and reporting practices adopted in the financial statements of reporting entities and publicly listed companies to meet the decision-making needs of external parties. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, how regulatory requirements and incentives affect financial reporting. The unit explores the different governance models of corporations and relates them to their financial reporting environment. This framework provides a basis for examining specific accounting issues with an emphasis on both the application of specific accounting measurement models (e.g. historic cost versus fair value) or regulatory provisions (e.g. continuous disclosure requirements). The unit also analyses key issues of debate in the international arena.
Learning Outcomes
On successful completion of this unit you will be able to:
- Integrate and apply knowledge of Australian and international financial reporting regulation to evaluate decisions by regulators and corporations in formulating and applying accounting standards in the disclosure of financial and non-financial information.
- Develop well researched and critically considered opinions and judgements concerning theoretical and practical standard setting in accounting, drawing on relevant research and practice and convey this using oral and written communication techniques.
- Use accounting frameworks to critically analyse current financial reporting issues encountered by accountants, auditors, regulators and users of financial information, and develop well-supported arguments to inform decision making.Relates to: UG Business Capabilities: HO (2.2)
Content
- Conceptual framework, standard-setting and international harmonisation
- Corporate governance worldwide and accounting theories
- Capital market research, earnings quality and corporate disclosure
- Measurement issues in accounting
- Companies without public accountability
It should be noted that Australian Accounting Standards have been harmonised with the standards issued by the International Accounting Standards Board (IASB). The accounting policies and issues taught in this unit, as highlighted in the content outline above, will, therefore, provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Undergraduate)
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 and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. The emphasis in Financial Accounting Issues is to equip students with the necessary skills to understand financial accounting theories and apply these theoretical concepts to contemporary practical accounting issues.
Lectures and tutorials:
All learning material other than the prescribed text will be made available online using the unit's Canvas site. Students are encouraged to download the resources provided on the unit Canvas site before the teaching sessions.
Weekly lecture and tutorial sessions will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester that may include:
- Informal: 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
- 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: Oral Presentation
Each student will address a presentation question where they will present their response to their tutorial group. The presentation questions are based on the lecture topic and learning objectives. For this assessment item, students are given the question they must answer in advance. The required length of the presentation is 8-10 minutes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Research Paper
To enable students to demonstrate their discipline knowledge, research skills, decision-making skills and written communication skills within the context of a specific accounting problem. Students will receive instructions about the research paper by the end of week 3.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
The examination will cover Weeks 1 to 12 inclusive. The exam tests content knowledge as well as critical ability in mastering the topics covered in the unit.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
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)
Contemporary Issues in Accounting (2022) by Rankin, Ferlauto, McGowan, Stanton
The text is available as a hard copy or e-book. See unit Canvas site for more information.
Reference book(s)
Scott, W. R. (2009) Financial Accounting Theory. Fifth Edition. Pearson Education.
Deegan, Craig (2014) Financial Accounting Theory, Third Edition. McGraw-Hill Australia.
Other
Additional Readings:
Students are required to use additional readings that will be made available throughout the course on the Canvas site or through the electronic resources available in the QUT Library:
- ASX Listing Regulations
- ASX Corporate Governance Principles and Guidelines
Other Resources - Accounting and Business Journals:
Australia:
- Australian CPA (CPA Australia)
- Charter (CAANZ)
- Accounting and Finance
- Accounting Research Journal
- Australian Accounting Review
- Accounting Forum
- Accounting Auditing and Accountability Journal
United States of America:
- The Accounting Review
- Journal of Accounting Research
- Accounting Horizons
- Journal of Accounting and Economics
United Kingdom:
- Accounting and Business Research
- Accounting, Organisations and Society
- British Accounting Review
- European Accounting Review
- Journal of Business Finance and Accounting
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. 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.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Research Paper, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO2, Research Paper
PC (3.2): Professional Communication (Oral)
Relates to: ULO2, Oral Presentation
SE (5.1): Ethical and Legal Understanding
Relates to: ULO1, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, Research Paper, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, Research Paper - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO2, Oral Presentation - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO1, Final Examination
Unit Outline: Semester 2 2024, Gardens Point, Internal
| Unit code: | AYB311 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB340 |
| Equivalent: | AYX311 |
Overview
This unit extends the knowledge acquired in earlier accounting units to examine accounting theories and reporting practices adopted in the financial statements of reporting entities and publicly listed companies to meet the decision-making needs of external parties. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, how regulatory requirements and incentives affect financial reporting. The unit explores the different governance models of corporations and relates them to their financial reporting environment. This framework provides a basis for examining specific accounting issues with an emphasis on both the application of specific accounting measurement models (e.g. historic cost versus fair value) or regulatory provisions (e.g. continuous disclosure requirements). The unit also analyses key issues of debate in the international arena.
Learning Outcomes
On successful completion of this unit you will be able to:
- Integrate and apply knowledge of Australian and international financial reporting regulation to evaluate decisions by regulators and corporations in formulating and applying accounting standards in the disclosure of financial and non-financial information.
- Develop well researched and critically considered opinions and judgements concerning theoretical and practical standard setting in accounting, drawing on relevant research and practice and convey this using oral and written communication techniques.
- Use accounting frameworks to critically analyse current financial reporting issues encountered by accountants, auditors, regulators and users of financial information, and develop well-supported arguments to inform decision making.Relates to: UG Business Capabilities: HO (2.2)
Content
- Conceptual framework, standard-setting and international harmonisation
- Corporate governance worldwide and accounting theories
- Capital market research, earnings quality and corporate disclosure
- Measurement issues in accounting
- Companies without public accountability
It should be noted that Australian Accounting Standards have been harmonised with the standards issued by the International Accounting Standards Board (IASB). The accounting policies and issues taught in this unit, as highlighted in the content outline above, will, therefore, provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Undergraduate)
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 and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. The emphasis in Financial Accounting Issues is to equip students with the necessary skills to understand financial accounting theories and apply these theoretical concepts to contemporary practical accounting issues.
Lectures and tutorials:
All learning material other than the prescribed text will be made available online using the unit's Canvas site. Students are encouraged to download the resources provided on the unit Canvas site before the teaching sessions.
Weekly lecture and tutorial sessions will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester that may include:
- Informal: 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
- 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: Oral Presentation
Each student will address a presentation question where they will present their response to their tutorial group. The presentation questions are based on the lecture topic and learning objectives. For this assessment item, students are given the question they must answer in advance. The required length of the presentation is 8-10 minutes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Research Paper
To enable students to demonstrate their discipline knowledge, research skills, decision-making skills and written communication skills within the context of a specific accounting problem. Students will receive instructions about the research paper by the end of week 3.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
The examination will cover Weeks 1 to 12 inclusive. The exam tests content knowledge as well as critical ability in mastering the topics covered in the unit.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
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)
Contemporary Issues in Accounting (2022) by Rankin, Ferlauto, McGowan, Stanton
The text is available as a hard copy or e-book. See unit Canvas site for more information.
Reference book(s)
Scott, W. R. (2009) Financial Accounting Theory. Fifth Edition. Pearson Education.
Deegan, Craig (2014) Financial Accounting Theory, Third Edition. McGraw-Hill Australia.
Other
Additional Readings:
Students are required to use additional readings that will be made available throughout the course on the Canvas site or through the electronic resources available in the QUT Library:
- ASX Listing Regulations
- ASX Corporate Governance Principles and Guidelines
Other Resources - Accounting and Business Journals:
Australia:
- Australian CPA (CPA Australia)
- Charter (CAANZ)
- Accounting and Finance
- Accounting Research Journal
- Australian Accounting Review
- Accounting Forum
- Accounting Auditing and Accountability Journal
United States of America:
- The Accounting Review
- Journal of Accounting Research
- Accounting Horizons
- Journal of Accounting and Economics
United Kingdom:
- Accounting and Business Research
- Accounting, Organisations and Society
- British Accounting Review
- European Accounting Review
- Journal of Business Finance and Accounting
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. 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.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Research Paper, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO2, Research Paper
PC (3.2): Professional Communication (Oral)
Relates to: ULO2, Oral Presentation
SE (5.1): Ethical and Legal Understanding
Relates to: ULO1, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, Research Paper, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, Research Paper - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO2, Oral Presentation - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO1, Final Examination
Unit Outline: Semester 2 2024, Online
| Unit code: | AYB311 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB340 |
| Equivalent: | AYX311 |
Overview
This unit extends the knowledge acquired in earlier accounting units to examine accounting theories and reporting practices adopted in the financial statements of reporting entities and publicly listed companies to meet the decision-making needs of external parties. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, how regulatory requirements and incentives affect financial reporting. The unit explores the different governance models of corporations and relates them to their financial reporting environment. This framework provides a basis for examining specific accounting issues with an emphasis on both the application of specific accounting measurement models (e.g. historic cost versus fair value) or regulatory provisions (e.g. continuous disclosure requirements). The unit also analyses key issues of debate in the international arena.
Learning Outcomes
On successful completion of this unit you will be able to:
- Integrate and apply knowledge of Australian and international financial reporting regulation to evaluate decisions by regulators and corporations in formulating and applying accounting standards in the disclosure of financial and non-financial information.
- Develop well researched and critically considered opinions and judgements concerning theoretical and practical standard setting in accounting, drawing on relevant research and practice and convey this using oral and written communication techniques.
- Use accounting frameworks to critically analyse current financial reporting issues encountered by accountants, auditors, regulators and users of financial information, and develop well-supported arguments to inform decision making.Relates to: UG Business Capabilities: HO (2.2)
Content
- Conceptual framework, standard-setting and international harmonisation
- Corporate governance worldwide and accounting theories
- Capital market research, earnings quality and corporate disclosure
- Measurement issues in accounting
- Companies without public accountability
It should be noted that Australian Accounting Standards have been harmonised with the standards issued by the International Accounting Standards Board (IASB). The accounting policies and issues taught in this unit, as highlighted in the content outline above, will, therefore, provide students with an appreciation of the international dimensions of the discipline.
QUT Business Capabilities (Undergraduate)
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 and Technological Skills (KS)
1.1 Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines
1.2 Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Higher Order Thinking (HO)
2.1 Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice
2.2 Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Professional Communication (PC)
3.1 Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
4.2 Apply teamwork knowledge and skills for effective collaboration across diverse purposes and contexts
Social, Ethical and Global Understanding (SE)
5.1 Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues
5.2 Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. The emphasis in Financial Accounting Issues is to equip students with the necessary skills to understand financial accounting theories and apply these theoretical concepts to contemporary practical accounting issues.
Lectures and tutorials:
All learning material other than the prescribed text will be made available online using the unit's Canvas site. Students are encouraged to download the resources provided on the unit Canvas site before the teaching sessions.
Weekly lecture and tutorial sessions will focus on addressing key concepts, and opportunities will be provided for students to develop and demonstrate their competence through active participation.
Proper attention to the teaching and learning strategies should enable you to meet the assessment requirements of the unit.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester that may include:
- Informal: 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
- 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: Oral Presentation
Each student will address a presentation question where they will present their response to their tutorial group. The presentation questions are based on the lecture topic and learning objectives. For this assessment item, students are given the question they must answer in advance. The required length of the presentation is 8-10 minutes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.2), PC (3.2)
Assessment: Research Paper
To enable students to demonstrate their discipline knowledge, research skills, decision-making skills and written communication skills within the context of a specific accounting problem. Students will receive instructions about the research paper by the end of week 3.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), PC (3.1)
This is an assignment for the purposes of an extension.
Assessment: Final Examination
The examination will cover Weeks 1 to 12 inclusive. The exam tests content knowledge as well as critical ability in mastering the topics covered in the unit.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.2), SE (5.1)
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)
Contemporary Issues in Accounting (2022) by Rankin, Ferlauto, McGowan, Stanton
The text is available as a hard copy or e-book. See unit Canvas site for more information.
Reference book(s)
Scott, W. R. (2009) Financial Accounting Theory. Fifth Edition. Pearson Education.
Deegan, Craig (2014) Financial Accounting Theory, Third Edition. McGraw-Hill Australia.
Other
Additional Readings:
Students are required to use additional readings that will be made available throughout the course on the Canvas site or through the electronic resources available in the QUT Library:
- ASX Listing Regulations
- ASX Corporate Governance Principles and Guidelines
Other Resources - Accounting and Business Journals:
Australia:
- Australian CPA (CPA Australia)
- Charter (CAANZ)
- Accounting and Finance
- Accounting Research Journal
- Australian Accounting Review
- Accounting Forum
- Accounting Auditing and Accountability Journal
United States of America:
- The Accounting Review
- Journal of Accounting Research
- Accounting Horizons
- Journal of Accounting and Economics
United Kingdom:
- Accounting and Business Research
- Accounting, Organisations and Society
- British Accounting Review
- European Accounting Review
- Journal of Business Finance and Accounting
Risk Assessment Statement
There are no out-of-the ordinary risks associated with this unit. 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.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Undergraduate)
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, ULO2, Research Paper, Final Examination
PC (3.1): Professional Communication (Written)
Relates to: ULO2, Research Paper
PC (3.2): Professional Communication (Oral)
Relates to: ULO2, Oral Presentation
SE (5.1): Ethical and Legal Understanding
Relates to: ULO1, Final Examination
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS05 Bachelor of Business
- Demonstrate and apply integrated discipline (including technical) knowledge across the broad field of business with depth in one or more core business disciplines.
Relates to: ULO1, ULO2, Research Paper, Final Examination - Exercise independent judgement and initiative in adapting and applying knowledge and skills for effective planning, problem solving and decision making in diverse contexts.
Relates to: ULO1, ULO2, ULO3, Oral Presentation, Research Paper, Final Examination - Use information literacy skills, and communicate effectively and professionally in written forms and using media appropriate for diverse purposes and contexts.
Relates to: ULO2, Research Paper - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO2, Oral Presentation - Demonstrate and apply knowledge of ethical and legal principles and practices in analysing and responding to business issues.
Relates to: ULO1, Final Examination