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ACC5215 Corporate Accounting

Subject Cat-nbr Class Term Mode Description Units Campus
ACC 5215 90798 2, 2009 ONC Corporate Accounting 1.00 Toowoomba
Academic group: FOBUS
Academic org: FOB008
Student contribution band: 3A
ASCED code: 080101

Contents


STAFFING

Examiner: Karyn Byrnes
Moderator: Marie Kavanagh


REQUISITES

Pre-requisite: ACC5202


OTHER REQUISITES

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/ict/students/standards/default.htm>.


SYNOPSIS

This course is designed to enable students to acquire basic skills of company accounting. Topics covered include the application of accounting entries for setting-up a company, alteration of capital, mergers, take-over, amalgamations; tax effect accounting; the presentation of accounts including consolidated statements for holding companies, (including foreign subsidiaries and associated companies); liquidations of companies; and equity accounting for associate companies.



OBJECTIVES

On successful completion of this course, students should be able to:

1.
demonstrate their understanding of company regulations and operations, corporate governance for accountants, company income tax, business combinations, holding and associated companies, joint ventures, company foreign operations and liquidations
2.
present and prepare the accounting entries as required by the professional accounting standards (including international accounting standards) in relation to company operations and share issues, income tax, business combinations, holding and associated companies, joint ventures, company foreign operations and liquidations
3.
apply the requirements of the Corporations Act 2001 and the professional accounting standards (including international accounting standards) in the preparation and presentation of company financial statements
4.
demonstrate the ability to solve problems through case studies that require preparation of accounting entries and financial statements as required by the professional accounting standards
5.
demonstrate the numeracy, technical, computer and language literacy skills required of an accounting professional to present and prepare the accounting entries and financial statements required of companies
6.
demonstrate the written communication skills required of an accounting professional.


TOPICS


Description Weighting (%)
1. Company regulations and operations
 8.00
2. Corporate governance
 8.00
3. Tax effect accounting
 9.00
4. Acquisition of assets (including entities)
 9.00
5. Company consolidations
 25.00
6. Equity accounting
 8.00
7. Joint ventures
 8.00
8. Accounting for foreign operations
 17.00
9. Company liquidations
 8.00

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).

ACC2115 study materials available on CD or via the course materials link on the course study desk home page. Printed study materials are not provided.

Leo, K, Hoggett, J, Sweeting, J & Radford, J 2009, Company accounting, 8th edn, John Wiley & Sons, Milton, Queensland.



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.

Alfredson, K, Leo, K, Picker, R, Pacter, P, Radford, J & Wise, V 2010, Applying international financial reporting standards, 2nd edn, John Wiley & Sons, Milton, Queensland.

Arthur, N, Grose, R, Campbell, J & Luff, L 2008, Accounting for corporate combinations and associations, 6th edn, Pearson Education, Frenchs Forest, New South Wales.

Deegan, C 2007, Australian financial accounting, 5th edn, McGraw-Hill, Sydney, New South Wales.

Duncan, KR & Irvine, JR 1999, Company accounting procedures, 7th edn, Butterworths, Sydney, New South Wales.

Gaffikin, M, Dagwell, R & Wines, G 2004, Corporate accounting in Australia, 3rd edn, University of NSW Press, Sydney, New South Wales.

Jubb, P, Haswell, S & Langfield-Smith, I 2005, Company accounting, 4th edn, Thomson, South Melbourne, Victoria.

Miley, F, Read, A & Andrew, B 1998, Intermediate company accounting, Longman, South Melbourne, Victoria.



STUDENT WORKLOAD REQUIREMENTS

ACTIVITY HOURS
Assessments 20.00
Directed Study 39.00
Private Study 106.00


ASSESSMENT DETAILS

Description Marks out of Wtg(%) Due date Objectives assessed Graduate skill Level assessed Notes
ONLINE TEST 1 10.00 5.00 06 Aug 2009 All     (see note 1)
ONLINE TEST 2 10.00 5.00 20 Aug 2009 All      
CASE STUDY ASSIGNMENT 50.00 20.00 01 Oct 2009 All      
EXAMINATION - PART A 20.00 14.00 END S2 All     (see note 2)
EXAMINATION - PART B 80.00 56.00 END S2 All      
NOTES
1.
Students are required to complete the online tests by the due date. The online tests will be available from the USQConnect Study Desk. Students will not be permitted to attempt the online tests after the due date.
2.
The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date for exam (parts A and B) after the timetable has been finalised. The total working time for exam (parts A and B) is 2 hours.

IMPORTANT ASSESSMENT INFORMATION

  1. 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.
  2. 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.)
  3. 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.
  4. 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.
  5. 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.
  6. Examination information:
    This is a restricted examination. Candidates are allowed access to specific materials during the examination. The only materials that candidates may use in the restricted examination for this course are: writing and drawing instruments (non-electronic and free from material which could give the student an unfair advantage in the examination); calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination). Students are not permitted to take mobile telephones, pagers or other electronic means of communication into the examination room.
  7. 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.
  8. 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 Procedures which can be found at <http://www.usq.edu.au/business/aboutfob.htm>.

ASSESSMENT NOTES

1. Assignments: (i) The due date for an assignment is the date by which a student must submit the assignment to the USQ electronically. (ii) Students must retain a copy of each assignment submitted for assessment. This must be produced within 24 hours if required by the examiner. (iii) The examiner may grant an extension of the due date of an assignment only in extenuating circumstances. Computer systems failure will not be valid grounds for applications for extension of assignment due dates. If students wish to claim extenuating circumstances then they shall provide validated documentary evidence explaining the circumstances prior to relevant due date. The examiner shall consider the statement and decide on the outcome. No extension will be granted if an extension is applied for after the due date of the assignment. A request for an extension included with the late assignment will not be granted. (iv) No extension will be granted after the solution has been made available to students. (v) Assignments are to be submitted in accordance with assignment instructions provided or as directed by the examiner. (vi) The examiner will not accept submission of assignments by facsimile.
2. Referencing in assignments: Harvard (AGPS) is the referencing system required in this course. Students should use Harvard (AGPS) style in their assignments to format details of the information sources they have cited in their work. The Harvard (AGPS) style to be used is defined by the USQ Library's referencing guide at <http://www.usq.edu.au/library/help/referencing/default.htm>.
3. 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.
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).
5. 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.

OTHER REQUIREMENTS

  1. Students can expect that questions in assessment items in this course may draw upon knowledge and skills that they can reasonably be expected to have acquired before enrolling in this course. This includes knowledge contained in pre-requisite courses and appropriate communication, information literacy, analytical, critical thinking, problem solving or numeracy skills. Students who do not possess such knowledge and skills should not expect the same grades as those students who do possess them.
  2. Computer, e-mail and Internet access: Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/ict/students/standards/default.htm>.

This version produced 11 Dec 2009.
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