AC213 Corporate Accounting

DESCRIPTION

This unit is designed to introduce students to the fundamental principles of corporate accounting. Students will gain an understanding of key accounting standards and how they are interpreted and applied by accountants when compiling general purpose financial reports. This unit will also provide students with an understanding of how annual reports and financial statements can be used to analyse organisational performance. Students will be encouraged to integrate theory and practical application by the use assessments based on “real” industry case studies.

RELEVANT COURSES

Bachlelor of Accounting*

Bachelor of Agribusiness

*Core unit

Elective unit

CREDIT POINTS

10

DELIVERY MODE

On campus

Online

Extensive

PREREQUISITE OR CO-REQUISITE

AC101 Accounting I

UNIT LEARNING OUTCOMES

LO1 Evaluate the sources of authority for the accounting requirements imposed on companies

LO2 Generate financial statements for a company in accordance with the accounting standards

LO3 Apply the principles of consolidation

LO4 Evaluate various aspects of disclosure and analyse performance from a company’s annual report

LO5 Explain the concept of financial instruments and the requirements for initial and subsequent measurement and related disclosures

CONTENT

  • Introduction to the nature and regulation of companies and, company formation, share capital and debt securities
  • Reserves and profit distribution
  • Using the various financial instruments and published financial statements
  • Understanding the accounting for company income tax
  • Business combinations
  • Consolidation – controlled entities
  • Consolidation – wholly owned entities & intragroup transactions
  • Revaluation & impairment of assets
  • Leases
  • Additional standards and disclosure
  • Accounting for foreign currency; understanding insolvency and liquidation

ASSESSMENT METHODS

  1. Online Tests – 20%
  2. Written Assessment – 30%
  3. Exam – 50%

PRESCRIBED READINGS

Deegan, C. (2019). Australian financial accounting (9th Ed). Sydney: McGraw-Hill Education

Check with the lecturer each semester before purchasing any textbooks.