AYB340 Company 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: | AYB340 |
|---|---|
| Prerequisite(s): | AYB200 or AYB201 |
| Equivalent(s): | AYX340 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
| CSP student contribution | $1,892 |
| Pre-2021 CSP student contribution | $1,482 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 | $3,060 |
| International unit fee | $3,984 |
Summer:
| Dates | Start 19 Nov 2023 End 22 Feb 2024 |
|---|---|
| Restrictions | Nil. Cross institutional and single unit students permitted with faculty approval. |
Unit Outline: Semester 1 2023, Gardens Point, Internal
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
| Coordinators: | Kate Hogarth | kate.hogarth@qut.edu.au |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discus how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, sustainability reporting and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection
Unit Outline: Semester 1 2023, Online
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discus how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, sustainability reporting and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection
Unit Outline: Semester 2 2023, Gardens Point, Internal
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
| Coordinators: | Belinda Luke | b.luke@qut.edu.au |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discuss how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection
Unit Outline: Semester 2 2023, Online
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discuss how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection
Unit Outline: Summer 2023, Gardens Point, Internal
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
| Coordinators: | Steve Griffin | steve.griffin@qut.edu.au |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discuss how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection
Unit Outline: Summer 2023, Online
| Unit code: | AYB340 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYB200 or AYB201 |
| Equivalent: | AYX340 |
Overview
As an accountant, most 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 statements. This unit contributes to the knowledge and technical skills you will need to prepare and present financial statements for companies.
This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues and building upon your understanding and knowledge of ICT in accounting. It provides a foundation for subsequent units by developing 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:
- Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companiesRelates to: UG Business Capabilities: KS (1.1)
- Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
- Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirementsRelates to: UG Business Capabilities: HO (2.2)
- Identify and discuss how ICT is used to analyse data and information to enhance efficiency and effectiveness of a company's systems and procesesRelates to: UG Business Capabilities: KS (1.2)
- Effectively communicate orally and reflect upon performance
Content
The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates, segment reporting, and the use of ICT for financial reporting (e.g. robotic process automation). The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
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 judgment 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 unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1.5 hr tutorial each week, as well as various online resources. The tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
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 understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained. Past experience has indicated that there is a strong correlation between students who pass the unit and students who engage and participate in lectures and tutorials. Students should refer to the unit Canvas site for the latest information.
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 tutorials, 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: Presentation and Self-Reflection
In this assessment, you will present on particular accounting standards and/or financial data to a company board, based on a topic and question assigned in Tutorial 1 (Week 2). For this assessment you will:
- Prepare a presentation speech with PowerPoint slides and submit prior to your presentation.
- Present your presentation during your tutorial in your assigned week.
- Reflect on your presentation and submit your reflection following your presentation.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.2), TS (4.1)
Assessment: Online Mid-Semester Exam
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of:
- Multiple-choice questions (15%); and
- A short answer written question (5%). Questions will require you to reflect on your understanding of theory and practical issues, and relate to the unit's learning outcomes.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2), TS (4.1)
Assessment: Final Examination
The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 5-11. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1, 2.2), SE (5.2)
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., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. and Byrnes, K. 2022. Financial Reporting, 4th edition, John Wiley & Sons Australia.
Reference book(s)
CCH. 2020. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2019. Accounting Handbook 2019, Pearson.
Chartered Accountants Australia and New Zealand. 2020. Financial Reporting Handbook 2020, John Wiley & Sons.
Deegan, C. 2019. Australian Financial Accounting, 9th edition, McGraw-Hill.
Leo, K., Knapp, J., McGowan, S., and Sweeting, J. 2017. Company Accounting, 11th edition, John Wiley & Sons Australia.
Other
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Canvas site and/or the CMD
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 (2.1): Critical Analysis
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
HO (2.2): Independent Judgement and Decision-Making
Relates to: ULO3, Online Mid-Semester Exam, Final Examination
KS (1.1): Discipline Knowledge
Relates to: ULO1, Online Mid-Semester Exam, Final Examination
KS (1.2): Technical and Technological Skills
Relates to: ULO4
PC (3.2): Professional Communication (Oral)
Relates to: ULO5, Presentation and Self-Reflection
SE (5.2): Global Social Responsibility
Relates to: ULO2, Online Mid-Semester Exam, Final Examination
TS (4.1): Self-Reflection and Accountability
Relates to: ULO5, Presentation and Self-Reflection
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, Online Mid-Semester Exam, Final Examination - Demonstrate and apply knowledge of socially responsible behaviour in analysing and addressing business issues in national and international business contexts.
Relates to: ULO2, Online Mid-Semester Exam, Final Examination - Apply technical and technological skills appropriate and effective for real world business purposes and contexts.
Relates to: ULO4 - Investigate real world business issues and situations through the effective analysis, evaluation and synthesis of theory and practice.
Relates to: ULO2, Online Mid-Semester Exam, 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: ULO3, Online Mid-Semester Exam, Final Examination - Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate for diverse purposes and contexts.
Relates to: ULO5, Presentation and Self-Reflection - Exercise self-reflection, responsibility and accountability in relation to own learning and professional practice.
Relates to: ULO5, Presentation and Self-Reflection