Course overview
- Study period
- Semester 2, 2024 (22/07/2024 - 18/11/2024)
- Study level
- Undergraduate
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Business School
This course builds upon students' basic accounting knowledge to offer detailed insights into the challenges that arise from more complex financial transactions such as leasing arrangements, intangible assets, financial instruments, employee benefits and contingent liabilities. It is suitable for students who seek to better understand the measurement and recognition policy choices underlying financial statements including the balance sheet, income statement and statement of changes in equity.
The primary focus of the course is to examine the effect of accounting standards and other accounting regulations on disclosure in the published financial reports of Australian listed companies. The course also emphasises the relationship between accounting standards issued by the Australian Accounting Standards Board and accounting standards set by the International Accounting Standards Board. ACCT2110 requires detailed knowledge of the requirements of regulations affecting a range of topics that concern particular accounting transactions and/or particular industries. For each topic in the course the issues covered include particular recognition and measurement rules and any measurement choice allowed, specific accounting procedures and accounting concepts, disclosure in financial statements and disclosure in notes to financial statements. The course also examines research on the implications of the choices available to managers and the impact of financial reporting on capital markets.
Course requirements
Assumed background
A soundﾠknowledge of topics covered in introductory accounting units is a necessary basis for satisfactory completion of this course.
Before attempting this course, students are advised that it is important to complete the appropriate prerequisite course(s) listed on the front of this course profile. No responsibility will be accepted by the School of Business, the Faculty of Business, Economics and Law or The University of Queensland for poor student performance occurring in courses where the appropriate prerequisite(s) has/have not been completed, for any reason whatsoever.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ACCT1110 or 2101 or 2112 or 2111
Incompatible
You can't enrol in this course if you've already completed the following:
ACCT3102
Course contact
Course staff
Lecturer
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
No tutorials are held on public holidays. All other tutorials will run as normal in these weeks. Students are welcome to attend an alternative tutorial if their regular tutorial is not available as a result of the public holiday.ﾠ
Please note: Teaching staff doﾠnotﾠhave access to the timetabling system to help with class allocation. Therefore, should you need help with your timetable and/or allocation of classes, please ensure you emailﾠbusiness.mytimetable@uq.edu.auﾠfrom your UQ student email account with the following details:
- Full name,
- Student ID, and
- the Course Code
Aims and outcomes
This course aims to extend students' knowledge and understanding ofﾠ advanced financial reporting issues by buildingﾠ on foundational knowledge acquired in earlier courses. It focuses on the examination and implementation of accounting procedures and concepts required by Australian Accounting Standards as derived from International Accounting Standards (IAS) and other accounting regulations, with issues relating to specific transactions, specific industries and/or specific disclosures.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Identify national and international influences on the regulation of financial reporting by listed companies.
LO2.
Describe and analyse the practical and conceptual issues affecting accounting for a range of topics including revenue recognition, liabilities, property plant and equipment, intangible assets, asset impairment, leases, employee benefits, financial instruments, performance reporting and sustainability reporting.
LO3.
Implement and evaluate the requirements of accounting standards and other regulations that govern the accounting practice.
LO4.
Critically evaluate and review case study based situations to identify and report on applicable accounting regulations and financial statement consequences.
LO5.
Identify and discuss the capital market issues facing accountants in organisations regarding recognition, selection of different measurement attributes and disclosure.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Examination |
Online In-semester Exam
|
30% |
3/09/2024 4:00 pm
During Class Time |
| Paper/ Report/ Annotation | Revenue Recognition | 20% |
2/10/2024 4:00 pm |
| Examination |
Invigilated Final Assessment
|
50% |
End of Semester Exam Period 2/11/2024 - 16/11/2024 |
Assessment details
Online In-semester Exam
- Online
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
3/09/2024 4:00 pm
During Class Time
- Learning outcomes
- L01, L02, L03, L05
Task description
The In-Semester examination in ACCT2110 will cover topics 1, 2, 3, and 4.
The format of the midsemester examination will be advised with the relevant information placed on ACCT2110 Blackboard site. You will have 90 minutes to complete the exam.
- You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements.
- Short answer, practical and problem solving questions containing accounting items are marked according to the accurate recognition, numerical measurement and calculation of accounting information. In journal-related practical questions and numerical calculations, you will not be penalised for consequential errors, however marking penalties will apply in journal-related practical questions for the inclusion of additional journals.
If students experience interruptions to their examinations, they are required to collect suitable evidence, e.g. screenshots, photos, or emails from AskUs and advise the course coordinator.
AI Statement:
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI) or Machine Translation (MT). Students are advised that the use of AI or MT technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | no planning time minutes |
|---|---|
| Duration | 90 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Exam platform | Learn.UQ |
| Invigilation | Not invigilated |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Late submission
Exams submitted after the end of the submission time will incur a late penalty.
Revenue Recognition
- Mode
- Written
- Category
- Paper/ Report/ Annotation
- Weight
- 20%
- Due date
2/10/2024 4:00 pm
- Learning outcomes
- L03, L04, L05
Task description
- You are required to individually prepare a report on a financial reporting case.
- This report will assess your research skills, writing skills, and general accounting knowledge and the ability to critically evaluate case scenarios.
- Full details of the case will be provided in class and via our ACCT2110 Blackboard site.
- Your work will be reviewed for plagiarism and independent content.
AI Statement:
This assessment task evaluates students' abilities, skills and knowledge without the aid of generative Artificial Intelligence (AI). Students are advised that the use of AI technologies to develop responses is strictly prohibited and may constitute student misconduct under the Student Code of Conduct.
Submission guidelines
The case analysis report is to be submitted online using the assessment link provided on the ACCT2110 Blackboard site.
Submission details will be provided prior to the due date.
Deferral or extension
You may be able to apply for an extension.
Late submission
A penalty of 10% of the maximum possible mark will be deducted per 24 hours from time submission is due for up to 7 days. After 7 days, you will receive a mark of 0.
Invigilated Final Assessment
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 50%
- Due date
End of Semester Exam Period
2/11/2024 - 16/11/2024
- Learning outcomes
- L01, L02, L03, L05
Task description
The focus of the final examination in ACCT2110 will be on topics not examined in the midsemester exam or case assignment. However, understanding of other topics during the semester may be required.
- This exam is a closed book, on-campus, paper-based invigilated exam as required by UQ and Professional Accounting organisations.
- The final examination will be held at the end of the semester exam period to be advised by UQ central examinations.
- Once advised of the date and time, you will have two hours to complete the exam.
- Multiple choice questions marks accrue by selecting the correct multiple choice answer. Short answer, practical and problem solving questions containing accounting items are marked according to the accurate recognition, numerical measurement and calculation of accounting information. In journal-related practical questions and numerical calculations, you will not be penalised for consequential errors, however marking penalties will apply in journal-related practical questions for the inclusion of additional journals. Short answer theory and short essay questions are marked according to the correct application of accounting framework, accounting standards and generally accepted accounting principles to source information.
- Further details of the final assessment and mark allocation will be provided in the course review lecture held at the end of the semester. Details will also be posted on our ACCT2110 Blackboard site.
AI Statement:
This assessment task is to be completed in-person. The use of generative Artificial Intelligence (AI) tools will not be permitted. Any attempted use of Generative AI may constitute student misconduct under the Student Code of Conduct.
Exam details
| Planning time | 10 minutes |
|---|---|
| Duration | 120 minutes |
| Calculator options | (In person) Casio FX82 series or UQ approved , labelled calculator only |
| Open/closed book | Closed Book examination - no written materials permitted |
| Exam platform | Paper based |
| Invigilation | Invigilated in person |
Submission guidelines
Deferral or extension
You may be able to defer this exam.
Course grading
Full criteria for each grade is available in the Assessment Procedure.
| Grade | Cut off Percent | Description |
|---|---|---|
| 1 (Low Fail) | 0 - 29 |
Absence of evidence of achievement of course learning outcomes. |
| 2 (Fail) | 30 - 46 |
Minimal evidence of achievement of course learning outcomes. |
| 3 (Marginal Fail) | 47 - 49 |
Demonstrated evidence of developing achievement of course learning outcomes |
| 4 (Pass) | 50 - 64 |
Demonstrated evidence of functional achievement of course learning outcomes. |
| 5 (Credit) | 65 - 74 |
Demonstrated evidence of proficient achievement of course learning outcomes. |
| 6 (Distinction) | 75 - 84 |
Demonstrated evidence of advanced achievement of course learning outcomes. |
| 7 (High Distinction) | 85 - 100 |
Demonstrated evidence of exceptional achievement of course learning outcomes. |
Additional course grading information
Grades will be allocated according to University-wide standards of criterion-based assessment.
Supplementary assessment
Supplementary assessment is available for this course.
Learning resources
You'll need the following resources to successfully complete the course. We've indicated below if you need a personal copy of the reading materials or your own item.
Library resources
Find the required and recommended resources for this course on the UQ Library website.
Own copy required
You'll need to have your own copy of the following reading resources. We've indicated below if you need a personal copy of the reading materials or your own item.
| Item | Description |
|---|---|
| Book |
Issues in financial accounting
by Henderson; Scott; Peirson; Graham; Herbohn; Kathy; Artiach; Tracy; Howieson; Bryan - 2017 Edition: Sixteenth edition Publisher: Pearson Australia ISBN: 9781488611650; 9781488611643 |
Learning activities
The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.
Filter activity type by
Please select
| Learning period | Activity type | Topic |
|---|---|---|
Week 1 |
Lecture |
PPE Revaluation and Impairment Learning outcomes: L01, L02, L03, L05 |
Week 2 |
Tutorial |
Tutorial 1: PPE Revaluation and Impairment Learning outcomes: L01, L02, L03, L05 |
Lecture |
Accounting for Leases (Lessee) Learning outcomes: L01, L02, L03, L05 |
|
Week 3 |
Tutorial |
Tutorial 2: Accounting for Leases (Lessee) Learning outcomes: L01, L02, L03, L05 |
Lecture |
Accounting for Leases (Lessor) Learning outcomes: L01, L02, L03, L05 |
|
Week 4 |
Tutorial |
Tutorial 3: Accounting for Leases (Lessor) Royal Queensland Show Public Holiday - Wednesday 14 Aug 2024 - Check Blackboard for announcements about affected classes. Learning outcomes: L01, L02, L03, L05 |
Lecture |
Provisions and Contingencies Learning outcomes: L01, L02, L03, L05 |
|
Week 5 |
Tutorial |
Tutorial 4: Provisions and Contingencies Learning outcomes: L01, L02, L03, L05 |
Lecture |
Revenue Recognition Learning outcomes: L01, L02, L03, L05 |
|
Week 6 |
Tutorial |
Tutorial 5: Revenue Recognition Learning outcomes: L02, L03, L04, L05 |
Lecture |
Case Study Development Learning outcomes: L03, L04, L05 |
|
Week 7 |
No student involvement (Breaks, information) |
Self-directed Learning There will be no tutorials this week to assist with revision for the In-Semester exam. Learning outcomes: L02, L03 |
Lecture |
In-Semester Exam During Class Time We will have an online in-class In-Semester exam. There will be no lecture and no tutorials this week to assist with revision for the In-Semester Exam. Learning outcomes: L02, L03 |
|
Week 8 |
No student involvement (Breaks, information) |
Self-directed learning There will be no tutorials this week because there are no tutorial questions for Case Study Development. This is to allow the opportunity for self-directed preparation for the case assignment. Learning outcomes: L02, L03, L04, L05 |
Lecture |
Extractive Industries Learning outcomes: L01, L02, L03, L05 |
|
Week 9 |
Tutorial |
Tutorial 6: Extractive Industries Learning outcomes: L01, L02, L03, L05 |
Lecture |
Intangible Assets Learning outcomes: L01, L02, L03, L05 |
|
Mid Sem break |
No student involvement (Breaks, information) |
In-Semester Break Learning outcomes: L01, L02, L03, L05 |
Week 10 |
Tutorial |
Tutorial 7: Intangible Assets Learning outcomes: L01, L02, L03, L05 |
Lecture |
Employee Benefits Learning outcomes: L01, L02, L03, L05 |
|
Week 11 |
Tutorial |
Tutorial 8: Employee Benefits King's Birthday Public Holiday - Monday 7 Oct 2024 - Check Blackboard for announcements about affected classes. Learning outcomes: L01, L02, L03, L05 |
Lecture |
Financial Instruments Learning outcomes: L01, L02, L03, L05 |
|
Week 12 |
Tutorial |
Tutorial 9: Financial Instruments Learning outcomes: L01, L02, L03, L05 |
Lecture |
Foreign Currency Transactions Learning outcomes: L01, L02, L03, L05 |
|
Week 13 |
Tutorial |
Tutorial 10: Foreign Currency Transactions Learning outcomes: L01, L02, L03, L05 |
Lecture |
Course Review Course Review and Final Exam Information Learning outcomes: L01, L02, L03, L04, L05 |
Policies and procedures
University policies and procedures apply to all aspects of student life. As a UQ student, you must comply with University-wide and program-specific requirements, including the:
- Student Code of Conduct Policy
- Student Integrity and Misconduct Policy and Procedure
- Assessment Procedure
- Examinations Procedure
- Reasonable Adjustments - Students Policy and Procedure
Learn more about UQ policies on my.UQ and the Policy and Procedure Library.