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 areas of financial reporting requirements and business combinations.

Required Resources

Prescribed Text

Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, H. and Byrnes, K., 2020. Financial Reporting, 3rd ed, Wiley.

Students will need to check if the textbook is available at the bookshop on campus. Alternatively, it can be purchased online directly from the publisher via https://www.wileydirect.com.au/buy/financial-reporting-3rd-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 section of the Chifley library. ANU Library has organised access to the e-book version via https://library.anu.edu.au/record=b6273000, but with limited concurrent users at any one time.

You may need access to a calculator to complete the exercises and exams in this course.

Staff Feedback

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

• written comments
• verbal comments

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 the Wattle Course Website

Email and the Wattle course website are the preferred ways of communication.

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.

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
6	Provisions and contingent liabilities Share capital and reserves Chapter 8 Chapter 13	Mid-semester exam
7	Introduction to business combinations and consolidation Chapter 25 Chapter 26
8	Accounting for wholly-owned subsidiaries I Chapter 27
9	Accounting for wholly-owned subsidiaries II Chapter 27
10	Accounting for intra-group transactions Chapter 28
11	Accounting for non-controlling interest Chapter 29
12	Accounting for equity investments Chapter 31

Tutorial Registration

Please see Wattle for tutors’ information.

This course includes live on-line workshops. Workshop signup for this course will be done via the Wattle website. Detailed information about signup times will be provided on Wattle. When workshops are available for enrolment, follow these steps:

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

2. Click on the link “Workshop enrolment”

3. On the right of the screen, click on the tab “Become Member of ……” for the workshop 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 preparation	5 %	03/08/2020	30/10/2020	1,2,3,4,5,6,7,8,9
Mid-semester exam	35 %	31/08/2020	09/10/2020	1,2,3,4,8,9
Final Examination	60 %	05/11/2020	03/12/2020	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 Academic Integrity . 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 final examination is compulsory and must be attempted.

Details regarding materials and equipment that is permitted in an examination 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/

Assessment Task 1

Tutorial preparation

Tutorial preparation is worth 5 marks towards your final grade. Tutorial questions will be posted on Wattle and all tutorial questions come from the prescribed textbook (see the section “Prescribed texts” above). Therefore, it is important to have access to the textbook as early as possible. Tutorial preparation must be submitted before class. The tutorial work will be marked based on the extent of completion and effort (not accuracy). Information regarding the submission process will be discussed in lectures and placed on Wattle in Week 1.

Due Date: The due date listed in the assessment summary is the earliest possible assessment date.

Return Date: The return date listed in the assessment summary is the latest possible return date. However, students will be provided with progressive feedback on tutorial preparation before the end of Week 6.

Assessment Task 2

Mid-semester exam

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. Information regarding exam script viewing will be provided on the Research School of Accounting webpage in due course.

The mid-semester exam is worth 35 marks towards your final grade. Details of the mid-semester exam will be provided by Week 5.

Assessment Task 3

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. Information regarding exam script viewing will be provided on the Research School of Accounting webpage in due course.

Details of the final exam will be provided no later than Week 12.

The final exam is worth 60 marks towards your final grade.

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

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to 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 be familiar with the academic integrity principle and Academic Misconduct Rule, 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 Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

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. 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.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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