| Effective Term: | 2024/05 |
| Institute / School : | Institute of Innovation, Science & Sustainability |
| Unit Title: | Corporate Accounting |
| Unit ID: | BUACC2603 |
| Credit Points: | 15.00 |
| Prerequisite(s): | (BA506 or BUACC1506 or BUACC1508) (BA507 or BUACC1507) |
| Co-requisite(s): | Nil |
| Exclusion(s): | Nil |
| ASCED: | 080101 |
| Other Change: | |
| Brief description of the Unit |
This course will examine both the conceptual and the procedural aspects of company accounting within the framework of legal and professional reporting requirements. The course may include topics which are normally related to company activities and the preparation of company financial statements such as company equity, debt, taxation, reorganisation, acquisition, consolidation, equity accounting, joint ventures, liquidations and receivership. This course is designed to provide students with expertise in the theory and practice of corporate accounting within Australian and in an international context. |
| Grade Scheme: | Graded (HD, D, C, P, MF, F, XF) |
| Work Experience Indicator: |
| No work experience |
| Placement Component: | |
| Supplementary Assessment:Yes |
| Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment |
| Course Level: |
| Level of Unit in Course | AQF Level(s) of Course | | 5 | 6 | 7 | 8 | 9 | 10 | | Introductory | | | | | | | | Intermediate | | |  | | | | | Advanced | | | | | | |
|
| Learning Outcomes: |
| Knowledge: |
| K1. | Identify the legal and other requirements pertaining to accounting for corporations within Australia and internationally; |
|
| K2. | Determine the processes of financial reporting by corporations and recognise the role of generally accepted accounting practices; |
|
| K3. | Appraise the theoretical underpinnings of the current regime of financial reporting by corporations; |
|
| K4. | Evaluate the strengths and limitations of corporate financial reports as a source of information |
|
| Skills: |
| S1. | Review and evaluate corporate accounting procedures and case studies in accordance with statutory and professional requirements; |
|
| S2. | Analyse and explain the rationale behind particular accounting procedures |
|
| S3. | Research and identify appropriate accounting procedures and communicate the solutions to problems |
|
| Application of knowledge and skills: |
| A1. | Develop a critical awareness of contentious issues relating to corporate financial reporting |
|
| A2. | Appreciate the importance of judgement and ethical integrity in corporate financial reporting. |
|
| Unit Content: |
•Accounting issues encountered in corporate accounting generally, comprising corporate regulation, company financing, company operations, accounting for income tax, accounting for non-current assets and, mergers and acquisitions.
•Accounting issues relating to special categories of companies, namely groups of companies or corporate groups, where the preparation of consolidated financial statements becomes necessary. For this part both knowledge of the mechanics of consolidation as well as an understanding of the conceptual issues relating to consolidations are necessary.
•Specialised corporate accounting issues associated with corporate disclosure, such as disclosures in relation to selection and application of accounting policies and liquidation of companies. |
| Graduate Attributes: |
| | Learning Outcomes Assessed | Assessment Tasks | Assessment Type | Weighting | | 1. | K1, K2 S1, S2 A2 | Review of selected topics, based on class activities, reading, and preparation of responses to set questions. | Test | 10-20% | | 2. | K1, K2, K3, K4 S2, S3 A1, A2 | Assignment/s requiring research and the preparation of calculations and/or written responses. | Assignment | 20-40% | | 3. | K1, K2, K3, K4 S2 A1, A2 | Final assessment | Exam | 50-70% |
|