ACCT19061 - Advanced Financial Accounting
Term 2 - 2017


All details in this unit profile for ACCT19061 have been officially approved by CQUniversity and represent a learning partnership between the University and you (our student). The information will not be changed unless absolutely necessary and any change will be clearly indicated by an approved correction included in the profile.

Overview

In this unit, which builds on the work you undertook in ACCT19062 Intermediate Financial Accounting, you will examine a selection of Australian accounting standards that address advanced issues in financial reporting including the accounting requirements for different types of inter-entity investment relationships. You will then interpret and apply the requirements of the selected accounting standards to solve more advanced accounting problems. This unit develops your professional competence in accounting to an advanced level.

Details

Career Level Undergraduate
Unit Level Level 3
Credit Points 6
Student Contribution Band 3
Fraction of Full-Time Student Load 0.125

Pre-requisites or Co-requisites

Pre-requisite: ACCT19062

Attendance Requirements

All on-campus students are expected to attend scheduled classes – in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).

Offerings

Term 2 - 2017
  • Brisbane
  • Bundaberg
  • Distance
  • Mackay
  • Melbourne
  • Rockhampton
  • Sydney

Website

This unit has a website, within the Moodle system, which is available two weeks before the start of term. It is important that you visit your Moodle site throughout the term. Go to Moodle

Recommended Student Time Commitment

Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.

Class Timetable

Assessment Overview

Assessment Task Weighting
1. Online Quiz(zes) 5%
2. Written Assessment 45%
3. Examination 50%

This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of ‘pass’ in order to pass the unit. If any ‘pass/fail’ tasks are shown in the table above they must also be completed successfully (‘pass’ grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the ‘assessment task’ section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University’s Grades and Results Procedures for more details of interim results and final grades.

All University policies are available on the IMPortal.

You may wish to view these policies:

  • Grades and Results Procedure
  • Assessment Policy and Procedure (Higher Education Coursework)
  • Review of Grade Procedure
  • Academic Misconduct Procedure
  • Monitoring Academic Progress (MAP) Policy and Procedure – Domestic Students
  • Monitoring Academic Progress (MAP) Policy and Procedure – International Students
  • Refund and Excess Payments (Credit Balances) Policy and Procedure
  • Student Feedback – Compliments and Complaints Policy and Procedure
  • Acceptable Use of Information and Communications Technology Facilities and Devices Policy and Procedure

This list is not an exhaustive list of all University policies. The full list of University policies are available on the IMPortal.

Feedback, Recommendations and Responses

Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.

Feedback Source Recommendation
Students have concerns about the quality of questions in PeerWise. Student emails The Unit Coordinator will increase interaction with students in PeerWise. This will include writing model questions for each topic and answering and commenting on questions written by students.
More examples of worked questions, particularly for consolidation, should be provided. Student emails Additional worked questions will be provided.
On successful completion of this unit, you will be able to:
  1. Explain the different types of inter-entity investment relationships and the accounting methods that apply to each type
  2. Interpret the technical requirements and conceptual aspects of selected accounting standards that address inter-entity investment relationships
  3. Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting
  4. Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve advanced accounting problems.

Alignment of Assessment Tasks to Learning Outcomes

Assessment Tasks Learning Outcomes
1 2 3 4
1 - Online Quiz(zes)  
2 - Written Assessment      
3 - Examination    

Alignment of Graduate Attributes to Learning Outcomes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Graduate Attributes Learning Outcomes
1 2 3 4
1. Communication      
2. Problem Solving
3. Critical Thinking    
4. Information Literacy        
5. Team Work        
6. Information Technology Competence        
7. Cross Cultural Competence        
8. Ethical practice        

Alignment of Assessment Tasks to Graduate Attributes

  • Introductory Level
  • Intermediate Level
  • Graduate Level
Assessment Tasks Graduate Attributes
1 2 3 4 5 6 7 8
1 - Online Quiz(zes)              
2 - Written Assessment          
3 - Examination          

Prescribed Textbooks

Company Accounting
Author/s: Leo, K., Knapp, J., McGowan, S. & Sweeting, J. Year: 2015
Edition: 10th edition Publisher: John Wiley & Sons
City: Milton State: Qld
Country: Australia
View textbooks at the CQUniversity Bookshop
Note:
There are three purchase options for the prescribed textbook:
1. A paperback version (ISBN 9781118608173) that can be purchased from the CQUniversity Bookshop,
2. A loose-leaf binder ready version (ISBN 9781118608180) can be purchased, on request, from the CQUniversity Bookshop or directly from the publisher, and
3. An E-text version (ISBN 9780730319603) that can be purchased directly from the publisher.
The publisher's web page for the textbook is: http://www.wileydirect.com.au/buy/company-accounting-10th-edition/

IT Resources

You will need access to the following IT resources:
  • CQUniversity Student Email
  • Internet
  • Unit Website (Moodle)
  • Microsoft Office or equivalent (wordprocessing)
All submissions for this unit must use the American Psychological Association (APA) referencing style (details can be obtained here). For further information, see the Assessment Tasks below.
Unit CoordinatorDavid Keene (d.keene@cqu.edu.au)
Note: Check the Term-Specific section for any additional contact information provided by the teaching team
Week Begin Date Module/Topic Chapter Events and Submissions
Week 1 10-07-2017

Introduction to accounting for different investor-investee relationships

PeerWise (Assessment Task 1: on-line quiz) opens at 09:00 (AEST) Monday 10 July 2017

Week 2 17-07-2017

Financial Instruments

Chapter 7

AASB 9 Financial Instruments

AASB 132 Financial Instruments: Presentation

'Your Company' (for Assessment Task 2: written assessment) available from 17:00 (AEST) Friday 21 July 2017

Week 3 24-07-2017

Accounting for company income tax

Chapter 6

AASB 112 Income Taxes


Week 4 31-07-2017

Business combinations

Chapter 12

AASB 3 Business Combinations

Week 5 07-08-2017

Consolidation: controlled entities and wholly owned subsidiaries

Chapters 18 and 19

AASB 10 Consolidated Financial Statements
Vacation Week 14-08-2017
Week 6 21-08-2017

Consolidation: intragroup transactions

Chapter 20

AASB 10 Consolidated Financial Statements


Written assessment: Part A due Thursday (24 August 2017) 23:45 AEST.

Week 7 28-08-2017

Consolidation: non-controlling interest

Chapter 21

AASB 10 Consolidated Financial Statements


Week 8 04-09-2017

Associates and joint ventures

Chapter 23

AASB 128 Investments in Associates and Joint Ventures


Week 9 11-09-2017

Foreign currency transactions

Chapter 8

AASB 121 The Effects of Changes in Foreign Exchange Rates

Written assessment: Part B due Thursday (14 September 2017) 23:45 AEST.

Week 10 18-09-2017

Translation of financial statements

Chapter 17

AASB 121 The Effects of Changes in Foreign Exchange Rates
Week 11 25-09-2017

Forward exchange contracts

Chapter 8

AASB 9 Financial Instruments

PeerWise (Assessment Task 1: on-line quiz) scores downloaded at 17:00 (AEST) Friday 29 September 2017

Week 12 02-10-2017

Revision

Review/Exam Week 09-10-2017
Exam Week 16-10-2017

1 Online Quiz(zes)

Assessment Title PeerWise
Task Description

PeerWise is a place for you to create, share and evaluate questions with other students in the unit.

PeerWise can be accessed through this webpage:http://peerwise.cs.auckland.ac.nz/at/?cqu_au



Registering for PeerWise

If you have not used PeerWise before you will need to register and create a PeerWise account.

To do this, click on the 'Registration' link on the PeerWise webpage and follow the prompts to register which involves four steps:

  • Choose a username.
  • Choose a password.
  • Enter the 'Unit ID' for the unit you would like to join: the Unit ID for ACCT19061 Advanced Financial Accounting for Term 2 2017 is 15194.
  • Enter your 'identifier' to join the unit: your identifier is your student number.

If you have used PeerWise before and already have an account, log in to PeerWise with your username and password.

You will then need to enter:

  • The 'Unit ID' for ACCT19061 Advanced Financial Accounting for Term 2 2017 which is 15194.
  • Your 'Identifier' which is your student number.

PeerWise Availability

PeerWise will be available from 09:00 (AEST) on Monday 10 July 2017 (Week 1).

At 17:00 (AEST) on Friday 29 September 2017 (Week 11), the Unit Coordinator will download PeerWise scores. Each student's score will be converted into a mark (see Assessment Criteria below) which will be recorded in the Moodle Gradebook.


Submission

You do not need to submit anything through Moodle; your score will be automatically recorded as you use PeerWise.


PeerWise Guidelines

Guidelines for using PeerWise are provided in a 'PeerWise Information Sheet' which is available in Moodle.

Number of Quizzes 1
Frequency of Quizzes Other
Assessment Due Date PeerWise scores will be downloaded at 17:00 (AEST) on Friday 30 September 2017 (Week 11)
Return Date to Students Your mark will be available in the Gradebook in Moodle in Week 12.
Weighting 5%
Assessment Criteria

As you contribute to PeerWise, you will accumulate a reputation score which is composed of three parts:

  • Writing questions (Questioning),
  • Answering questions (Answering), and
  • Rating questions you have answered (Rating).

You can see your reputation score in the top right-hand corner of PeerWise.


You will gain a mark out of 5 for your PeerWise contribution. This will be calculated as follows:

Mark PeerWise Reputation Score
5 5,000 +
4 3,000 – 4,999
3 1,500 – 2,999
2 750 – 1,499
1 250 – 749
0 < 250
Submission Online

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

1. Explain the different types of inter-entity investment relationships and the accounting methods that apply to each type

2. Interpret the technical requirements and conceptual aspects of selected accounting standards that address inter-entity investment relationships

3. Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

5. Team Work



2 Written Assessment

Assessment Title Assessment Task 2
Task Description

This assessment task is an individual assignment that comprises two parts.

1. Written assessment: Part A

  • Is worth 20% of the total marks for the unit.
  • Is due by 11.45 PM (23:45) AEST on Thursday of Week 6 (24 August 2017).

2. Written assessment: Part B

  • Is worth 25% of the total marks for the unit.
  • Is due by 11.45 PM (23:45) AEST on Thursday of Week 9 (14 September 2017).

Assessment Information

This assessment task requires you to use a company's annual report.

Each student will be allocated a unique company to use in this assessment task.

The allocated company will be made available from 17:00 (AEST) on Friday of Week 2 in an Excel file (named 'Find Your Company') in Moodle.

The assignment questions and further information on this assessment task will be available in Moodle at the commencement of the term.

Assessment Due Date Submit to Moodle
Return Date to Students You will receive your assignment back two weeks from the submission date.
Weighting 45%
Assessment Criteria
When preparing your assignment, you should refer to the assessment criteria as well as to any relevant advice posted in Moodle by the Unit Coordinator.
Referencing Style American Psychological Association (APA)
Submission Online

Submit through Moodle

Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

4. Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve advanced accounting problems.

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking



Examination

Outline Complete an examination
Date During the University examination period
Weighting 50%
Length 180 minutes
Details Dictionary - non-electronic, concise, direct translation only (dictionary must not contain any notes or comments).
Calculator - non-programmable, no text retrieval, silent only.
Closed Book
Learning Outcomes Assessed
This section can be expanded to view the assessed learning outcomes

2. Interpret the technical requirements and conceptual aspects of selected accounting standards that address inter-entity investment relationships

3. Interpret the technical requirements and conceptual aspects of selected accounting standards that address advanced issues in financial reporting

Graduate Attributes
This section can be expanded to view the assessed graduate attributes

1. Communication

2. Problem Solving

3. Critical Thinking


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