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ACC2115 Company Accounting

Semester 1, 2021 Online
Short Description: Company Accounting
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Business
Student contribution band : Band 4
ASCED code : 080101 - Accounting
Grading basis : Graded


Examiner: Mark Vallely


Pre-requisite: ACC1102 or ACC2102 or ACC2103

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


Accounting for companies is a fundamental part of professional accounting practice. Large companies have specific accounting requirements which require a thorough knowledge of accounting standards and the Corporations Act 2001. The course assumes prior knowledge from the previous financial accounting course. The ACC2115 course expands on the knowledge from the previous courses in that it specifically focuses on the accounting requirements/regulations of companies. This course develops skills and knowledge required for the higher levels of theory and practice in the accounting major.


This course is designed to enable students to acquire basic skills of company accounting (formerly ACC3115). Based on the Australian Qualification Framework, the minimum Threshold Learning Outcomes for this course will be developed in the areas of Knowledge and Application skills. A focus of the course is the development of practical skills. For example, students will prepare basic company accounting records required for a simulated consolidation of companies as a part of their assessment.


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

  1. integrate theoretical and technical accounting knowledge particularly in the area of finance and the relevant regulations in commercial law, corporation law and taxation law at a competent level by developing understanding the purposes of accounting procedures and the conceptual frameworks on which they draw;
  2. critically apply theoretical and technical accounting knowledge and skills to solve routine accounting problems at a competent level by practice in preparing accounting records and adjusting procedures to changes in regulations;
  3. interpret and apply the accounting standards relating to company regulations and operations, company income tax, accounting for leases, business combinations, company consolidations, joint ventures and company foreign operations;
  4. apply the requirements of the Corporations Act 2001 and the professional accounting standards (including international accounting standards) to present and prepare the accounting entries in relation to company operations and share issues, income tax, business combinations, company consolidations, joint ventures and company foreign operations;
  5. solve problems through case studies that require preparation of accounting entries as required by the professional accounting standards (including international accounting standards);
  6. apply the technical and professional literacy skills required of an accounting professional.


Description Weighting(%)
1. Advanced topics for assets and liabilities 30.00
2. Accounting for investments in other entities 60.00
3. Accounting for insolvency and liquidation 10.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (

Please contact us for alternative purchase options from USQ Bookshop. (

Loftus, J, Leo, K, Daniliuc, S, Boys, N, Luke, B, Ang, H & Byrnes, K 2020, Financial reporting, 3rd edn, John Wiley and Sons Australia Ltd, Milton, Qld.
(The text book is available as an eBook, which is a cheaper option. If you wish to purchase the eBook, go to and follow the prompts.)
ACC2115 study materials are available via the course materials link on the course study desk home page. Printed study materials are not provided.

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.
Deegan, C 2020, Financial accounting, 9th edn, McGraw-Hill, North Ryde, New South Wales.
Leo, K, Hoggett, J & Sweeting, J 2018, Company accounting, 11th edn, John Wiley & Sons, Milton, Queensland.
Picker, R, Clark, K, Dunn, J, Kolitz, D, Livne, G, Loftus, J & Tas, L 2016, Applying international financial reporting standards, 4th edn, John Wiley & Sons, West Sussex, United Kingdom.

Student workload expectations

Activity Hours
Directed Study 36.00
Independent Study 129.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
ONLINE QUIZ 1 20 10 24 Mar 2021 (see note 1)
ONLINE QUIZ 2 20 10 21 Apr 2021
ASSIGNMENT 100 15 04 May 2021
OPEN EXAM - ONLINE 65 65 End S1 (see note 2)

  1. Students are required to complete the online quizzes by 11.59pm (USQ time) on the due date. The online quizzes will be available from one week before the due date and can be accessed from the online link on the UConnect Study Desk. Students will not be permitted to attempt the online quizzes after the due date.
  2. This will be an online exam. Students will be provided further instruction regarding the exam by their course examiner via StudyDesk. The examination date will be available via UConnect when the Alternate Assessment Schedule has been released.

Important assessment information

  1. Attendance requirements:
    It is the students' responsibility to attend and participate appropriately in all activities 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:
    Due to COVID-19 the requirements for S1 2021 are: To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks for that item.

    Requirements after S1, 2021:
    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:
    Students should refer to the Assessment Procedure (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    Due to COVID-19 the requirements for S1 2021 are: To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

    Requirements after S1, 2021:
    To be assured of receiving a passing grade a student must obtain at least 50% of the total weighted marks available for the course (i.e. the Primary Hurdle), and have satisfied the Secondary Hurdle (Supervised), i.e. the end of semester examination by achieving at least 40% of the weighted marks available for that assessment item.

    Supplementary assessment may be offered where a student has undertaken all of the required summative assessment items and has passed the Primary Hurdle but failed to satisfy the Secondary Hurdle (Supervised), or has satisfied the Secondary Hurdle (Supervised) but failed to achieve a passing Final Grade by 5% or less of the total weighted Marks.

    To be awarded a passing grade for a supplementary assessment item (if applicable), a student must achieve at least 50% of the available marks for the supplementary assessment item as per the Assessment Procedure (point 4.4.2).

  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:
    Due to COVID-19 the requirements for S1 2021 are: An Open Examination is one in which candidates may have access to any printed or written material and a calculator during the examination.

    Requirements after S1, 2021:
    This is a restricted examination. Candidates are allowed access only to specific materials during the examination. The only materials that candidates may use in the examination for this course are:
    1. writing and drawing instruments (non-electronic and free from material which could give the student an unfair advantage in the examination)
    2. 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:
    Normally Deferred and Supplementary Examinations are held in the next Examination period. In S1 2021 selected courses will pilot an early Deferred and Supplementary Examination period held within 30 business days of results release. The list of courses involved can be found at

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at

Assessment notes

  1. Online tests:
    1. The due date for online quizzes is the date by which the student must complete the online quizzes electronically via UConnect. Please note: all online quizzes for this course are due by 5pm (USQ time) on the due date. The online quizzes will be available from one week before the due date.
    2. There will be NO extensions granted for the online quizzes as they are available from one full week before the due date and students are required to manage their commitments accordingly. Computer systems failure will not be valid grounds for applications for extension of assignment due dates.

Date printed 18 June 2021