This course covers the characteristics of the Australian accounting environment and its financial reporting requirements for companies, and expands on advanced financial accounting issues, such as, accounting for non-current assets, accounting for intangible assets, accounting for liabilities  and owners' equity, and provides a comprehensive coverage of consolidation issues and equity investments.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. An understanding of the regulatory environment in which the companies are formed and operate in Australia.
2. A solid foundation in accounting and reporting requirements of the Corporations Act and relevant Australian Accounting Standards Board (AASB) accounting standards.
3. A comprehensive understanding of the advanced issues in accounting for assets, liabilities and owner’s equity.
4. The ability to account for a range of advanced financial accounting issues.
5. An understanding of the accounting requirements for a corporate group and familiarity with the theory underlying the methods used to account for inter-company investments.
6. The ability to prepare consolidated accounts for a corporate group.
7. An understanding of the principles of accounting for investments in associates.
8. The ability to analyse complex issues, to formulate well reasoned and coherent arguments and to reach well considered conclusions.
9. Strong verbal and written communication skills.

Research-Led Teaching

Students will be exposed to research ideas and be involved in discussions of research in the area of financial reporting requirements and business combinations. As part of the requirements for the group assignment, students will need to demonstrate their research skills in analysing the annual report of a particular company. Assistance will be provided throughout to ensure proper development of research skills.

Required Resources

Prescribed Text

The text is subject to copyright laws in Australia and, as such, photocopying of any parts of it is restricted under law. Photocopies of the text brought to the class will be confiscated.

Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, H. and Byrnes, K., 2017. Financial Reporting, 2nd ed, Wiley.

The text is available at the campus bookshop on campus or can be purchased online directly from the publisher via http://www.wileydirect.com.au/buy/financial-reporting-2nd-edition/. You can also buy the digital version (e-book) of the text from the publisher using the above link

Students are expected to have access to a copy of the prescribed book for the duration of the semester. A small number of copies of the book are also available for 2 hour loan in the reserve loan section of the Chifley library.

Recommended Resources

Recommended Readings

Leo, K., Knapp, J., McGowan, S. and Sweeting, J., 2015. Company Accounting, 10th ed, Wiley.

Deegan, C., 2016. Financial Accounting, 8th ed, McGraw-Hill Irwin.

Chartered Accountants Australia and New Zealand, Financial Reporting Handbook 2016, Wiley

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments
• feedback to whole class, groups, individuals, focus group etc

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information

ASSESSMENT REQUIREMENTS

As a further academic integrity control, students may be selected for a 15 minute individual oral examination of their written assessment submissions.

Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Misconduct Rule.

 

COMMUNICATION

Email and Forums on the Wattle Course Website

Email and the Wattle course website are the preferred ways of communication. Student forums are set up on Wattle for each topic and can be viewed by all enrolled students and teaching staff. Students are encouraged to post any questions they have in the appropriate forum.

If necessary, the lecturer and tutors for this course will contact students on their official ANU student email address. Students should use this email address when contacting staff as spam filters used by ANU may not allow other email addresses to be received. Information about your enrolment and fees from the Registrar and Student Services' office will also be sent to this email address.

 

Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials will be posted on the door of the relevant room.

 

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Accounting regulation and the conceptual framework Chapter 1
2	Corporate reporting and disclosure Chapter 16 Chapter 18 Chapter 21
3	Accounting for property, plant, and equipment and intangibles Chapter 5 Chapter 6 Chapter 7
4	Accounting for leases Chapter 10
5	Accounting for income tax Chapter 12	Tutorial quiz 1
6	Provisions and contingent liabilities Share capital and reserves Chapter 8 Chapter 13
7	Introduction to business combinations and consolidation Chapter 25 Chapter 26	Mid-semester exam
8	Accounting for wholly-owned subsidiaries I Chapter 27
9	Accounting for wholly-owned subsidiaries II Chapter 27	Group assignment
10	Accounting for intra-group transactions Chapter 28	Tutorial quiz 2
11	Accounting for non-controlling interest Chapter 29
12	Accounting for equity investments Chapter 31

Tutorial Registration

Please see Wattle for tutors’ information.

Tutorial signup for this course will be done via the Wattle website. Detailed information about signup times will be provided on Wattle. When tutorials are available for enrolment, follow these steps:

1. Log on to Wattle, and go to the course site.

2. Click on the link “Tutorial enrolment”

3. On the right of the screen, click on the tab “Become Member of ……” for the tutorial class you wish to enter.

4. Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group…” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Tutorial Quizzes	5 %	25/03/2019	05/04/2019	1,2,3,4,5,6,7,8,9
Group Assignment	15 %	06/05/2019	31/05/2019	1, 2, 8, 9
Mid Semester Examination	30 %	01/04/2019	20/05/2019	1,2,3,4
Final Examination	50 %	06/06/2019	04/07/2019	1,2,3,4,5,6,7,8,9

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Examination(s)

Hurdle Assessment Requirement: The mid semester and final examinations are compulsory and must be attempted.

Details regarding materials and equipment that is permitted in an examination room can be found on the ANU website:

http://www.anu.edu.au/students/program-administration/assessments-exams/examination-conduct

Information regarding permitted examination materials for the course will be available on the examination timetable website when the examination timetable is released: http://timetable.anu.edu.au/

Mid-semester Examination and Final Examination Script Viewing Sessions

Students’ exam script books are made available for individual inspection at advertised times following the release of results. Notices will be posted on the RSA website and on the course website on Wattle once the session times and venues are confirmed. Question papers and multiple choice answer sheets are not made available in these sessions. Students will need to provide their ANU student ID card to view their exam.

Assessment Task 1

Tutorial Quizzes

The due date listed in the assessment summary is the earliest possible date. This assessment task is due in Weeks 5 and 10, testing the topics not tested in previous quizzes. Each quiz is worth 2.5 marks towards your final grade.

Duration -10 minutes

Instructions - Short multiple choice quizzes to be held at the end of tutorials. It is important that you turn up to each tutorial on time, and that you are well prepared.

Note: This is considered to be an item of assessment, and hence it is your responsibility to turn up to each tutorial on time.

Purpose - To test your understanding of the topics covered.

The return date listed in the assessment summary is the earliest possible date. The return dates are Weeks 6 and 11.

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Assessment Task 2

Group Assignment

Due date: 10am 6th May 2019 (Week 9)

Suggested length: 3000 words

Instructions - To be announced in Lecture 3. This assignment is to be done in groups of three.

Purpose - To test the attainment of Learning Outcome 1, 2, 8 and 9

Marking criteria - To be announced in Lecture 3

Any referencing style is accepted, as long as you are consistent.

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded.

Assessment Task 3

Mid Semester Examination

Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Mid-semester exams will be held in either Week 6 or Week 7. The due date listed in the assessment summary is the earliest possible date. Please check ANU Timetabling for further information. Exam scripts will not be returned. Students may review their exam scripts by appointment during scheduled sessions at the RSA School Office.

The mid semester examination will involve a 2 hour paper, plus a 15 minute reading time. The examination will be based on the topics scheduled in Weeks 1 to 5 inclusive. The examination will be closed book.

You will be permitted to bring in the examination room only a non-programmable calculator and an English/foreign language dictionary with written approval from the School. For the dictionary approval form, visit http://www.anu.edu.au/students/program-administration/assessments-exams/examination-conduct

Hurdle Assessment Requirement: This assessment is a compulsory assessment and must be attempted.

Assessment Task 4

Final Examination

Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. The due date listed in the assessment summary is the earliest possible date. Please check ANU Timetabling for further information. Exam scripts will not be returned. Students may review their exam scripts by appointment during scheduled sessions at the RSA School Office.

The final examination will involve a 3 hour paper, plus a 15 minute reading time. The examination will be based on the topics scheduled in Weeks 6 to 12 inclusive. The examination will be closed book.

You will be permitted to bring in the examination room only a non-programmable calculator and an English/foreign language dictionary with written approval from the School. For the dictionary approval form, visit http://www.anu.edu.au/students/program-administration/assessments-exams/examination-conduct

Hurdle Assessment Requirement: This assessment is a compulsory assessment and must be attempted.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

Late submission not permitted. If submission of assessment tasks without an extension after the due date is not permitted, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

During teaching periods, marked tutorial quizzes and assignments will be handed back in tutorials. At the end of semester students should follow the tutor’s instructions regarding where to collect assignments from. After this, quizzes and assignments will have to be collected from the school office.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students