- Class Number 3854
- Term Code 2930
- Class Info
- Unit Value 6 units
- Mode of Delivery In Person
- Dr Colleen Hayes
- Dr Colleen Hayes
- Dr Zhe Wang
- Class Dates
- Class Start Date 25/02/2019
- Class End Date 31/05/2019
- Census Date 31/03/2019
- Last Date to Enrol 04/03/2019
The course examines a selection of advanced financial reporting issues that are included, or under consideration for inclusion in, accounting standards applicable in Australia. It provides an advanced description of the corporate reporting environment and its challenges, and examines the political and international pressures shaping the standard setting process in Australia. It also addresses the objectives and social and economic roles played by financial accounting and reporting. The course further examines accounting and disclosure issues pertaining to fair value measurement, financial instruments, share-based payments, foreign currency translation, segment reporting, specific industries, external administration and advanced topics relating to equity interests. Technical and theoretical aspects are considered.
Upon successful completion, students will have the knowledge and skills to:
- Demonstrate an understanding of the Australian external reporting environment and its challenges.
- Demonstrate a deep and broad understanding of the objectives and social and economic roles played by financial accounting and reporting.
- Analyse, evaluate and interpret various advanced measurement and disclosure issues and other specialised topics pertaining to an economic entity.
- Apply main features of a selection of Australian accounting standards.
- Analyse complex issues, formulate well reasoned and coherent arguments and reach well considered conclusions.
The syllabus for this course is anchored in the Australian regulatory corporate financial reporting framework, including the AASB standards associated with accounting and disclosure of the advanced topics involved. At the same time, however, the course also draws on research-based academic journal publications consisting of empirical, theoretical and review articles in examining the challenges and pressures shaping the standard setting process.
Examination Material or equipment
Details regarding materials and equipment that is permitted in an examination room can be found on the ANU website:
Information regarding permitted examination materials for the course will be available on the examination timetable website when the examination timetable is released:
Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, H., and Byrnes, K., 2018. Financial Reporting, 2nd edition, Wiley.
The text can be purchased from the Harry Hartog Academic bookshop in Kambri, or 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 for a very affordable price.
A small number of copies the text will also be available on loan at the Chifley Library.
Supplementary Reading Materials
Supplementary reading materials on various topics will be provided on Wattle as required.
Chartered Accountants Australia and New Zealand, Financial Reporting Handbook 2019 Wiley. (Alternatively, access to Australian Accounting Standards Board through the AASB website: http://www.aasb.gov.au)
Deegan, C., 2015, Australian Financial Accounting, 7th edition, McGraw-Hill Irwin.
Henderson, S., Peirson, G., Herbohn, K., Artiach, T. and Howieson, B., 2017, Issues in Financial Accounting, 16th edition, Pearson.
Leo, K., Knapp, J., McGowan, S. and Sweeting, J., 2014. Company Accounting, 10th Rev edition, Wiley.
Clarke, F. and Dean, G., 2007, Indecent Disclosure: Gilding the Corporate Lily, Cambridge University Press.
Clarke, F., Dean, G. and Oliver, K., 1997, Corporate Collapse: Regulatory, Accounting and Ethical Failure, Cambridge University Press.
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
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.
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.
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.
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.
|Summary of Activities
|1.Australian regulatory reporting issues. [Consolidation revision] Readings - Loftus Chapter 1 Supplementary reading materials.
|2.Corporate governance, accounting and financial reporting. [Consolidation revision] Readings - Loftus Chapter 2 Supplementary reading materials.
|Tutorial Questions Topic 1
|3.Consolidation: other issues. Readings - Loftus Chapter 30 Supplementary reading materials.
|Tutorial Questions Topic 2
|Consolidation: other issues, continued. 4.Joint arrangements. Readings - Loftus Chapter 30 Loftus Chapter 32 Supplementary reading materials.
|Tutorial Questions Topic 3
|5.Fair value measurement. Readings - Loftus Chapter 3 Supplementary reading materials.
|Tutorial Questions Topics 4 Submission of group assignment by student Group 1 (Topics 1 & 2).
|Mid-semester examination [No lecture or tutorials]
|6.Share-based payment transactions. Readings - Loftus Chapter 14 Supplementary reading materials.
|Tutorial Questions Topic 5 Presentation by student Group 1.
|7.Operating segments. Readings - Loftus Chapter 20 Supplementary reading materials.
|Tutorial Questions Topic 6. Submission of group assignment by student Group 2 (Topic 5).
|8.Accounting for mineral resources. Readings - Loftus Chapter 34 Supplementary reading materials.
|Tutorial Questions Topic 7 Presentation by student Group 2.
|9.Financial instruments. Readings - Loftus Chapter 11 Supplementary reading materials.
|Tutorial Questions Topic 8 Submission of group assignment by student Group 3 (Topic 6).
|10.Foreign currency translation. Readings - Loftus Chapters 23 & 24 Supplementary reading materials.
|Tutorial Questions Topic 9 Presentation by student Group 3. Submission of group assignment by student Group 4 (Topic 8).
|11.External administration and liquidations. Loftus Chapter 33 Supplementary reading materials
|Tutorial Questions Topic 10 Presentation by student Group 4.
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.
|Return of assessment
|Assessment Task 1 -Tutorial preparation and participation
|Assessment Task 2 - Assignment and Class Presentation
|Assessment Task 3 - Mid-semester Examination
|Assessment Task 4 - Final Examination
* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details
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:
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.
Assessment Task 1
Learning Outcomes: 5
Assessment Task 1 -Tutorial preparation and participation
Due Date: The due date listed in the assessment summary is the earliest possible assessment date. This assessment task is assessed weekly.
Value and Weighting: 10 %
The greatest benefit from lectures is obtained by reading the relevant material in advance of attending the lectures and participating in discussion during tutorials.
Students are required to prepare the relevant set of questions in advance of attending tutorials and come to tutorials prepared to discuss the issues involved, and any difficulties encountered in responding to the set questions and areas where they are in need of clarification.
It is expected that students will attend ALL lectures and tutorials scheduled for the course. As part of your assessment, a participation mark is included for critical in-class (tutorial) discussion. The participation mark is for PARTICIPATION and CONTRIBUTION TO THE DISCUSSION IN TUTORIALS, not for mere attendance. Of course, you cannot participate if you are not in attendance. If you attend all tutorials but do not contribute to the majority of tutorials, do not expect to pass this part of the assessment.
Weekly Marking Guidelines:
1 mark - Demonstrate the ability to analyse complex issues and formulate well-reasoned and coherent arguments in reaching well considered conclusions.
0 mark - Does not demonstrate the ability to analyse complex issues and formulate well-reasoned and coherent arguments.
Feedback: Progressive feedback will be provided on participation by Week 6.
Assessment Task 2
Learning Outcomes: 1,2,3,4,5
Assessment Task 2 - Assignment and Class Presentation
Due Date of Assignment Paper: Thursday 4pm of the week shown in the course schedule. The due date listed in the assessment summary is the earliest possible submission for this assessment.
Due Date of Assignment Presentation: Your first scheduled tutorial following the week the assignment paper is scheduled for submission.
Value or Weighting: 20%
- 5% for the presentation
- 15% for the paper.
Suggested Length: Not more than 20 pages, double-line spacing
Students will prepare and present a paper prepared on a group basis on a major issue(s) in financial accounting and reporting. The preparation of the paper will require extensive reading. It is expected to be well-researched and properly prepared. The paper will be presented by the group members in one of the tutorial classes.
Students are encouraged to discuss issues relating to the paper with the lecturer or tutor prior to its preparation and submission. Each student is only required to submit one group paper and present once during the semester.
This assignment provides you with an opportunity to apply theoretical and technical aspects of financial accounting/reporting relating to a practical case and/or academic debate, and develop your ability to analyse an issue critically and systematically.
Further details of the assignment and presentation requirements will be provided during the semester.
Assessment Task 3
Learning Outcomes: 1,2,3,4,5
Assessment Task 3 - Mid-semester Examination
The mid-semester examination will cover Topics 1 to 4 inclusive (see topics and topic numbers in the COURSE SCHEDULE/SYLLABUS). This examination will be closed book. 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.
Assessment Task 4
Learning Outcomes: 1,2,3,4,5
Assessment Task 4 - Final Examination
The final examination will be a three hour closed book paper during the examination period held in June. The scope of the final examination will be the whole semester’s syllabus, but the emphasis will be on Topics 5 to 11 inclusive.
Given the weighting of the assessments, you are strongly advised to plan a study programme as soon as possible. This will assist you in keeping abreast with the course and workload as well as with revision towards the end of the semester.
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.
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.
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.
Please keep a copy of tasks completed for your records.
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.
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.
The assignment will effectively be ‘returned’ in the process of providing feedback via the Turnitin system.
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.
Resubmission of Assignments
Resubmission of assignments is not permitted in this course.
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
Colleen Hayes has over twenty years of teaching experience at tertiary level. She has taught financial accounting, accounting theory, corporate financial reporting and corporate social responsibility at both the undergraduate and postgraduate levels. Her research interests include corporate governance, auditing, accounting history and corporate social responsibility.
Isabel Wang has ten years of teaching experience at tertiary level. She has taught financial accounting, corporate financial reporting, auditing and accounting theory at both the undergraduate and postgraduate levels. Her research interests include judgment and decision making in accounting, management accounting and auditing.
Dr Colleen Hayes
Dr Colleen Hayes