ACC2103 Corporate Reporting and Analysis

ACC	2103	86945	1, 2009	ONC	Corporate Reporting and Analysis	1.00	Springfield
Subject	Cat-nbr	Class	Term	Mode	Description	Units	Campus

Academic group:	FOBUS
Academic org:	FOB008
Student contribution band:	3A
ASCED code:	080101

Staffing
Requisites
Other requisites
Synopsis
Objectives
Topics
Texts
Reference materials
Student workload
Assessment details
Important assessment information
Assessment notes
Other requirements
Production date
PDF version

STAFFING

Examiner: Mark Vallely
Moderator: Raymond Leong

REQUISITES

Pre-requisite: ACC1101

OTHER REQUISITES

It is highly recommended that ONLY students who have completed ACC2101 Financial Accounting Systems (formerly Accounting Information Systems) enrol in this course. While ACC2101 is not a pre-requisite, the recommended enrolment pattern for students in the accounting major is to complete ACC2101 and then ACC2103. These two courses can be studied concurrently. As this is the final offer of ACC2103 before it is replaced with ACC1102, please refer to the information regarding the new accounting major before enrolling in this course. The study resources for this course are provided on a CD and online via the course home page. Students are required to have access to a personal computer, e-mail capabilities and Internet access to USQConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/business/student/computerreq.htm>.

SYNOPSIS

In this course we will consider the information provided by listed corporations and other reporting entities through their financial statements (Balance Sheet, Income Statement, Statement of Changes in Equity and Cash Flow Statement), the disclosures made via the notes to the accounts and the statements and declarations made in annual reports by directors/management. A number of specific accounting standards and generally accepted accounting principles (GAAP) will be examined in this course and students will be required to understand and apply the recognition, measurement and disclosure requirements of the standards and GAAP (for example, measure and record transactions and economic events) and be able to prepare each of the financial statements. We will also focus on the analysis and interpretation of the information in the financial statements and the role of this information in stakeholder decision making. In particular, we will focus on the calculation and interpretation of the key data items, such as earnings per share and investigate associated issues such as 'earnings management' and 'earnings quality'. Students will require access to email and Internet access to USQConnect for this course.

OBJECTIVES

The course objectives define the student learning outcomes for a course. On successful completion of this course, students should be able to:

demonstrate a knowledge of the regulatory environment and the various regulations (accounting procedures and reporting practices) which impact on the information provided by reporting entities
process a series of transactions and prepare financial reports consistent with a number of accounting standards and generally accepted accounting principles and (GAAP)
undertake an analysis of the information presented in financial statements and other sources of corporate information and answer key commercial decisions with sound supporting arguments
demonstrate an understanding of the economic, political and regulatory factors that impact on the reporting decisions made by managers (for example, 'earnings management')
demonstrate the ability to solve problems facing accountants and financial analysts in the contemporary business environment
demonstrate the information literacy and numeracy skills required by accountants and financial analysts by applying financial mathematics and analytical techniques to problems facing contemporary firms
demonstrate the written communication skills required of an accounting professional.

TOPICS

	Description	Weighting (%)
1.	Preparation and presentation of financial statements	30.00
2.	Analysis and interpretation of financial data	30.00
3.	Special issues in corporate reporting	40.00

TEXT and MATERIALS required to be PURCHASED or accessed

ALL textbooks and materials are available for purchase from USQ BOOKSHOP (unless otherwise stated). Orders may be placed via secure internet, free fax 1800642453, phone 07 46312742 (within Australia), or mail. Overseas students should fax +61 7 46311743, or phone +61 7 46312742. For costs, further details, and internet ordering, use the 'Textbook Search' facility at http://bookshop.usq.edu.au click 'Semester', then enter your 'Course Code' (no spaces).

Oncampus students must purchase the course CD.

ACC2103 shrink-wrapped package consisting of Wild, J, Subramanyam, K & Halsey, R 2007, 'Financial statement analysis', 9th edn, McGraw-Hill, Boston, Massachusetts AND Deegan, C 2007, 'Topics in corporate reporting', McGraw-Hill, North Ryde, New South Wales. (The latter book consists of selected chapters from Deegan, C 2007, 'Australian financial accounting', 5th edn, McGraw Hill, North Ryde, New South Wales).

Do not purchase 'Topics in corporate reading'. This was the first version of the custom published book and a number of chapters selected from the Deegan 2007 text book are missing from this version of the book.

REFERENCE MATERIALS

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.

Fleet, W, Summers, J & Smith, B 2006, Communication skills handbook for accounting, 2nd edn, John Wiley & Sons, Milton, Queensland.

Henderson, S, Peirson, G & Herbohn, K 2008, Issues in financial accounting, 13th edn, Pearson Education, Frenchs Forest, New South Wales.

Horngren, C, Harrison, W, Bamber, L, Best, PJ, Fraser, D & Willett, R 2006, Financial accounting, 5th edn, Pearson Education, Frenchs Forest, New South Wales.

Palepu, KG & Healy, PM 2008, Business analysis and valuation using financial statements, 4th edn, Thomson South-Western, Mason, Ohio.

Penman, S 2007, Financial statement analysis and security valuation, 3rd edn, McGraw-Hill/Irwin, Boston, Massachusetts.

Picker, R, Leo, K & Alfredson, K 2006, Australian accounting standards, John Wiley & Sons, Milton, Queensland.

STUDENT WORKLOAD REQUIREMENTS

ACTIVITY	HOURS
Assessment	16.00
Private Study	110.00
Seminars	39.00

ASSESSMENT DETAILS

Description	Marks out of	Wtg(%)	Due date	Notes
ASSIGNMENT 1	15.00	15.00	01 Apr 2009	(see note 1)
ASSIGNMENT 2	15.00	15.00	20 May 2009	(see note 2)
2 HOUR EXAMINATION	70.00	70.00	END S1	(see note 3)

NOTES

1.: Objectives 1, 3, 4, 6 and 7 relate.
2.: Objectives 1, 2, 5, 6 and 7 relate.
3.: Objectives 1 - 6 relate. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date after the timetable has been finalised.

IMPORTANT ASSESSMENT INFORMATION

Attendance requirements:
It is the students' responsibility to attend and participate appropriately in all activities (such as lectures, tutorials, laboratories and practical work) scheduled for them, and to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.
Requirements for students to complete each assessment item satisfactorily:
To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)
Penalties for late submission of required work:
If students submit assignments after the due date without prior approval of the examiner, then a penalty of 5% of the total marks gained by the student for the assignment may apply for each working day late up to ten working days at which time a mark of zero may be recorded.
Requirements for student to be awarded a passing grade in the course:
To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.
Method used to combine assessment results to attain final grade:
The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.
Examination information:
This will be an open examination. Candidates may have access to any printed or written material and a calculator during the examination. In line with regulation 5.6.4.2 'Use of Electronic Devices during Examinations', laptop and notebook computers are not permitted.
Examination period when Deferred/Supplementary examinations will be held:
Any Deferred or Supplementary examinations for this course will be held during the next examination period.
University Regulations:
Students should read USQ Regulations 5.1 Definitions, 5.6 Assessment, and 5.10 Student Academic Misconduct for further information and to avoid actions which might contravene university regulations. These regulations can be found at <http://www.usq.edu.au/corporateservices/calendar/part5.htm>. Students should also read the Faculty of Business Policies and Procedures which can be found at <http://www.usq.edu.au/business/aboutfob.htm>.

ASSESSMENT NOTES

1.	Assignments: (i) Students must submit their assignment files online using EASE. (ii) Students must retain a copy of each assignment file submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) In accordance with university policy, the examiner may grant an extension of the due date of an assignment in extenuating circumstances. (iv) The assignment files must be submitted by 11.59pm on the due date using USQ time (as displayed on the clock on the course home page; that is, Australian Eastern Standard Time).
2.	Course weightings: Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.
3.	Dishonest actions: (i) Any student who is alleged to have performed a dishonest action relating to any assessment in the course will have a course of action taken against him/her as outlined in the academic regulations. (ii) Pieces of assessment should be the work of individual students. Joint pieces of assessment are not permitted unless written approval has been obtained from the examiner. (iii) Dishonest action in relation to assessment includes: copying or attempting to copy the work of others; use of or attempting to use information prohibited from use in that form of assessment; submitting the work of another as your own; consciously committing acts of plagiarism, that is, taking and using another's thoughts or writings as one's own with intent to deceive, which occurs when paragraphs, sentences, a single sentence or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted or referenced in the text; direct quotations are not used, but text is paraphrased or summarised, and the source of the material is not acknowledged by footnoting or other reference in the text.
4.	Deferred work: Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

OTHER REQUIREMENTS

Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to USQConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/business/student/computerreq.htm>.
Communication: All formal communication from the course leader will be distributed by email, therefore students are required to have access to a valid email address.

This version produced 8 Jan 2009.