Units

---

Sample subject outline - Semester 1 2013

Note: Subject outlines often change before the semester begins. Below is a sample outline.

Rationale

A large number of entities are companies rather than, for example, sole traders or partnerships. Accordingly, 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. Accountants are also required to integrate and apply academic accounting knowledge to solving problems that arise in practice. This unit contributes to the knowledge and skills you will need to prepare financial statements for companies.

This unit builds on the prerequisite units by applying accounting principles to complex company accounting issues. It also provides a foundation for subsequent units, which develop critical analytical skills through an examination of theoretical accounting issues, accounting regulation and practice.

Aims

The aim of this unit is to help students develop the knowledge, understanding and skills needed to interpret and apply accounting standards and procedures to solving accounting problems which companies encounter in practice.

Objectives

Course Learning Goals (Undergraduate)

The QUT Business School has established the Assurance of Learning (AOL) Goals to meet contemporary industry needs and standards. Achieving these learning outcomes will assist you to meet the desired graduate outcomes set at QUT - aligned with other internationally renowned business schools. Students will develop the following capabilities relevant to a contemporary global and sustainable business environment:

Have knowledge and skills pertinent to a particular discipline (KS)
1.1 Integrate and apply disciplinary theory and skills to practical situations
1.2 Incorporate the use of technology appropriate to the discipline and context

Be critical thinkers and effective problem solvers (CTA)
2.1 Identify, research and critically analyse information relevant to a business problem or issue, be able to synthesise that information in order to evaluate potential solutions, make recommendations or otherwise effectively address the problem or issue

Be professional communicators in an intercultural context (PC)
3.1 Communicate effectively through written tasks appropriate to varied contexts and audiences
3.2 Communicate effectively through professional oral presentations appropriate to varied contexts and audiences

Be able to work effectively in a Team Environment (TW)
4.1 Demonstrate effective team skills in order to contribute appropriately to the production of a group output

Have a Social and Ethical Understanding (SEU)
5.1 Apply ethical reasoning, standards or codes of practice relevant to the discipline and make decisions that are informed by social and cultural understanding

Unit Objectives

On completion of this unit you should be able to:

1. Demonstrate knowledge of accounting regulations and their effect on the content and format of the financial statements of companies;
2. Apply the accounting procedures required by accounting standards to prepare company financial statements;
3. Evaluate whether the accounting procedures adopted to solve accounting problems comply with accounting standards and statutory requirements; and
4. Communicate understandings, decisions, and justifications in oral and written formats.

The specific course learning goals that apply to this unit are shown in the assessment section of this unit outline.

Content

The content of this unit has been selected with the specified aim and objectives 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 investments in associates. Finally, liquidation of companies is covered. The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.

Approaches to Teaching and Learning

Teaching and learning strategies are designed to facilitate the aims and objectives of the unit. 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 1hr in-class tutorial each week.. Short video tutorials are also available online on a weekly basis. The in-class tutorial examines concepts, cases, and processes relevant to the weekly lecture material. The video (online) tutorial focuses on more advanced practical, calculation-based company accounting problems, and provides a further opportunity for practice and revision.

All formal classes, the course material and resources, 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.

Lecture materials (e.g. PowerPoint slides, lecture examples), worksheets for tutorial questions, solutions to the practical tutorial questions and review questions will be available each week from the AYB340 Blackboard site. You should download the lecture materials each week and bring them with you to the lecture. The lecture slides also contain the tutorial questions, usually on the last slide(s).

Past experience has indicated that there is a strong correlation between students who pass the unit and students who attend and participate in lectures and tutorials.

Assessment

The assessment in this unit aims to support your achievement of the learning objectives for both Discipline Knowledge and Other Graduate Capabilities. Assessment 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 will receive feedback in various forms throughout the semester which may include:

• Informal: worked examples, such as verbal feedback in class, 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 name: Presentation
Description: Presentation, discussion leadership, and discussion participation
Each student will be required to:
a) Prepare a presentation question during the semester, based on a topic agreed with your tutor in Tutorial 1 (week 2). Presentation questions will be provided as part of the weekly PowerPoint lecture materials, and you may use PowerPoint, overhead transparencies or other technologies to assist in your presentation. Students will be required to present the first part (approximately 50%) of the answer to the tutorial group, and then lead the group in a dicussion on the remainder of the question (marks for part a: 10%).
b) Constructively participate in class discussion of presentation questions (marks for part b: 10%).

Length: 5-7 minutes for presentation/discussion leadership; weekly for constructive participation in discussions.
Formative or Summative: Both
Relates to objectives: Objectives: 1, 2, 3, 4 and AoL: KS (1.1), CTA (2.1), PC (3.2)
Weight: 20%
Internal or external: Internal
Group or individual: Individual
Due date: Weekly


Assessment name: Mid-Semester Examination
Description: The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in lectures 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: (a) multiple-choice questions (20%); and (b) a short answer written question (10%). Questions cover both theory and practical issues, and relate to the unit objectives.
Length: 1 hour working plus 15 minutes perusal
Formative or Summative: Both
Relates to objectives: Objectives: 1, 2, 3, 4 and AoL: KS (1.1), CTA (2.1), PC (3.1)
Weight: 30%
Internal or external: Internal
Group or individual: Individual
Due date: Week 6


Assessment name: End of Semester Examination
Description: The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered throughout the semester. The final examination relates to the objectives 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.
Length or Duration: 2 hours working plus 15 minutes perusal.
Formative or Summative: Summative
Relates to objectives: Objectives: 1, 2, 3, 4 and AoL: KS (1.1), CTA (2.1), PC (3.1)
Weight: 50%
Internal or external: Internal
Group or individual: Individual
Due date: Central Exam Period


Academic Honesty

QUT is committed to maintaining high academic standards to protect the value of its qualifications. To assist you in assuring the academic integrity of your assessment you are encouraged to make use of the support materials and services available to help you consider and check your assessment items. Important information about the university's approach to academic integrity of assessment is on your unit Blackboard site.

A breach of academic integrity is regarded as Student Misconduct and can lead to the imposition of penalties.

Resource materials

Texts
Leo, K., Hoggett, J., and Sweeting, J. 2011. Company Accounting, 9th edition, John Wiley & Sons Australia.

References
Arthur, N., Grose, R., Campbell, J. and Luff, L. 2008. Accounting for Corporate Combinations and Associations 6th edition, Pearson Education Australia.
CCH. 2012. Australian Corporations & Securities Legislation - Volume 1, CCH.
CPA Australia. 2012. Accounting Handbook 2012, Pearson.
Deegan, C. 2007. Australian Financial Accounting, 5th edition, McGraw-Hill.
Jubb, P., Haswell, S. and Langfield-Smith, I. 2009. Company Accounting, 5th edition, Thomson.
Picker, R., Leo, K., Loftus, J., Clark, K. and Wise, V. 2009. Australian Accounting Standards 2nd edition John Wiley & Sons.
QUT cite|write (refer http://www.citewrite.qut.edu.au/)
The Institute of Chartered Accountants in Australia. 2012. Financial Reporting Handbook 2012, John Wiley & Sons.

Other Resources
Students would normally be expected to:
- purchase the prescribed textbook
- print lecture and tutorial materials and appropriate documents from the Blackboard site and/or the CMD

top

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.

Disclaimer - Offer of some units is subject to viability, and information in these Unit Outlines is subject to change prior to commencement of semester.

Last modified: 24-Jan-2013