Course overview
- Study period
- Semester 1, 2025 (24/02/2025 - 21/06/2025)
- Study level
- Postgraduate Coursework
- Location
- St Lucia
- Attendance mode
- In Person
- Units
- 2
- Administrative campus
- St Lucia
- Coordinating unit
- Business School
Impact of corporate structures on financial statements and contracts written by diversified entities.
This course is concerned with advanced issues in financial reporting by reporting entities, the shares of which are listed on the Australian Securities Exchange. The focus of the course is on accounting for corporate structures. The course is intended for people who will be involved in the preparation and/or use of company financial statements whether as accountants, auditors, financial analysts or other financial statement users.
The course takes students through the necessary financial accounting treatments and reporting requirements of companies growing or expanding through a variety of ways from the purchase of assets (not regarded as a business) to the purchase of an interest in an already established business. This latter form of growth/expansion may be achieved by acquiring the business, or purchasing an interest in the entity that owns the business, which is a more flexible and widely used growth strategy. The course is concerned primarily with the larger investment that gives rise to control (forming a parent-subsidiary relationship); significant influence (giving rise to an investor-associate relationship) and joint arrangements/joint venture as forms of association/combination. Within this context, the requirements for segment reporting and translation of foreign currency statements will be considered. Finally, the "other side" of growth/expansion of the business and its combinations will be considered, that is, the accounting and reporting requirements of external administration and liquidation.
Course requirements
Assumed background
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.ﾠ Introductory accounting (ACCT7101 or similar) is assumed background, and is a pre-requisite for this course.ﾠ While not a pre-requisite, many students find knowledge of the ACCT7102 course materials to be an advantage to their understanding of ACCT7104 - students who have not taken ACCT7102 may wish to consider rescheduling the study of ACCT7104 until after ACCT7102. Topics covered in previous financial accounting courses will be taken as assumed knowledge and only limited revision of these topics will be undertaken in lectures. Students should not register for this course if they have not studied financial accounting before, as it is not an introduction to basic accounting principles. As such, 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 pre-requisite(s) has/have not been completed, for any reason whatsoever.
Prerequisites
You'll need to complete the following courses before enrolling in this one:
ACCT7101
Incompatible
You can't enrol in this course if you've already completed the following:
ACCT3103
Restrictions
Quota: Minimum of 15 enrolments
Course contact
Course staff
Lecturer
Associate Professor Xin Yu
Timetable
The timetable for this course is available on the UQ Public Timetable.
Additional timetable information
Public holidays
Alternative arrangements for affected students will be announced through the Blackboard site.
Please note: Teaching staff do not have 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 email business.mytimetable@uq.edu.au from your UQ student email account with the following details:
- Full name
- Student ID
- Course Code
Aims and outcomes
The main aims of this course are to enable students to gain an appreciation of how different levels of control between entities affect the accounting treatment of such entities, being able to delineate each situation and display the practical ability to do so; develop an ability to link a variety of concepts in corporate accounting, displaying a wider appreciation of the complexity and inter-relatedness of the concepts; achieve sufficient awareness of current developments in accounting standards through research and critical evaluation to interpret and communicate their effect on entities; and relate core material to real world scenarios, developing an awareness of how reporting entities adopt these concepts and whether there are any ethical issues.
Learning outcomes
After successfully completing this course you should be able to:
LO1.
Describe how the themes of control and influence pervade accounting for corporate structures.
LO2.
Explain current international trends in the reporting of key accounting areas, recognising their impact on Australian reporting entities, and linking these to the relevant Australian Accounting Standards relating to intercorporate investments.
LO3.
Explain the process of consolidation and undertake the accounting procedures required to consolidate a parent entity and its controlled entities (including partly-owned controlled entities) in compliance with applicable accounting regulations.
LO4.
Demonstrate the ability to evaluate and apply Australian Accounting Standards to a range of specific issues including joint arrangements, associated companies, segment reporting, translation of foreign currency financial statements and external administration/liquidation.
LO5.
Analyse and critically evaluate accounting topics in real world scenarios.
Assessment
Assessment summary
| Category | Assessment task | Weight | Due date |
|---|---|---|---|
| Essay/ Critique | Case Study | 20% |
21/03/2025 4:00 pm |
| Examination |
In-semester Examination
|
30% |
16/04/2025 8:00 am
During Class |
| Examination |
Final Exam
|
50% |
End of Semester Exam Period 7/06/2025 - 21/06/2025 |
Assessment details
Case Study
- Mode
- Written
- Category
- Essay/ Critique
- Weight
- 20%
- Due date
21/03/2025 4:00 pm
- Learning outcomes
- L01, L03, L04, L05
Task description
ACCT7104 Corporate Accounting is concerned with advanced financial reporting topics including accounting for investments in subsidiaries, associates, jointly controlled entities and interests in jointly controlled operations and assets. The purpose of the Individual Case Study is to enhance skills in reading, interpreting and applying Australian Accounting Standards within this context. The case study provides students with an opportunity to consider the case data, research relevant accounting standards and provide a well justified report, including recommendations, on the main issues identified. The case study should be 2,000 words in length.
The case study will be released in week 1 of the semester. More detailed information on this assessment (including an indicative marking rubric) will be provided and full details of the case study will be provided on the Blackboard site for ACCT7104.
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
This assessment will be submitted via Blackboard.
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.
In-semester Examination
- Online
- Mode
- Written
- Category
- Examination
- Weight
- 30%
- Due date
16/04/2025 8:00 am
During Class
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03
Task description
The in-semester exam is an online examination administered through Blackboard.
The exam questions will cover four topics (teaching weeks 1 to 4 inclusive) as follows:
Topic 1: Business Combinations
Topic 2: Consolidation: Basic Principle
Topic 3: Consolidation: FVA and Tax Effects
Topic 4: Consolidation: Intra-group Transaction
Important:
- Students can sit for the exam from anywhere. Please ensure you sit the exam from a location that has internet with GOOD bandwidth. Where possible, you should sit your exam in the computer labs on UQ campus.
- Ensure you only open the exam on ONE device. Opening the exam on multiple devices will cause your attempt to close down and you will be awarded ZERO marks.
AI Statement:
This assessment task is to be completed online. 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 | 90 minutes |
| Calculator options | Any calculator permitted |
| Open/closed book | Open Book examination |
| Exam platform | Other |
| 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.
Final Exam
- Identity Verified
- In-person
- Mode
- Written
- Category
- Examination
- Weight
- 50%
- Due date
End of Semester Exam Period
7/06/2025 - 21/06/2025
- Other conditions
- Time limited.
- Learning outcomes
- L01, L02, L03, L04, L05
Task description
The final exam will cover all topics with the main focus on Topics 5 to 11. It will take place during the examination weeks.
The final exam may consist of multiple choice questions, short answer and practical problems. You should review all seminar and workshop materials in preparing for the final exam. Information regarding more details of the exam will be provided in the revision lecture.
This exam is a restricted closed book, invigilated exam as required by UQ and Professional Accounting organisations.
The exam is an on-campus, paper-based exam invigilated by UQ appointed invigilators.
Note: Sample exams are available on the university library website. Please note however that these are provided for revision purposes only, and solutions may be unavailable. Different textbooks and updates/revisions of course materials may result in some differences.
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 | Any calculator permitted |
| Open/closed book | Closed Book examination - specified written materials permitted |
| Materials | One A4 sheet of handwritten or typed notes, double sided, is 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.
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 |
S1. Introduction to consolidation Overview of course learning objectives and assessment. Learning outcomes: L01, L02, L03, L05 |
Week 2 |
Lecture |
S2. Consolidation - Basic Principles Consolidation process; pre-acquisition and post-acquisition equity; concepts of unrealised profit; simple intercompany transactions. Learning outcomes: L01, L02, L03 |
Workshop |
W1. Introduction to consolidation Learning outcomes: L01, L02, L03, L05 |
|
Week 3 |
Lecture |
S3. Consolidation: FVA and Tax Effects Fair Value Adjustments on consolidation and subsequent reporting periods; Effect of income taxes on consolidation journals. Learning outcomes: L01, L02, L03 |
Workshop |
W2. Consolidation - Basic Principles Learning outcomes: L01, L02, L03, L05 |
|
Week 4 |
Lecture |
S4. Consolidation: Intra-Group Transactions The need to adjust for intra-group transactions. Adjusting entries for the intragroup sale of inventory and non-current assets. Learning outcomes: L01, L02, L03 |
Workshop |
W3.Consolidation: FVA and Tax Effects Learning outcomes: L01, L02, L03 |
|
Week 5 |
Lecture |
S5. Consolidation: Partly Owned Subsidiaries (DNCI) Direct non-controlling interests. Disclosure and measurement of direct non-controlling interests; consolidation of partly owned subsidiaries. Learning outcomes: L01, L02, L03 |
Workshop |
W4. Consolidation: Intra-Group Transactions Learning outcomes: L01, L02, L03 |
|
Week 6 |
Lecture |
S6. Consolidation: Partly Owned Subsidiaries (INCI) Indirect non-controlling interests; identification of direct/indirect non-controlling interests; consolidation of multiple subsidiaries. Learning outcomes: L01, L02, L03 |
Workshop |
W5. Consolidation: Partly Owned Subsidiaries (DNCI) Learning outcomes: L01, L02, L03 |
|
Week 7 |
No student involvement (Breaks, information) |
Preparation for in-semester examination There will be no seminar or workshop this week. Consultation sessions will be provided this week. |
Week 8 |
Lecture |
Exam - In-Semester During Class There will be no lecture or workshop this week. We will have an in-semester exam during the seminar time on Wednesday, 16 April. |
Workshop |
No Workshop No workshop due to In-Semester Exam. Good Friday Public Holiday - Friday 18 April 2025 - Check Blackboard for announcements about affected classes. |
|
Mid-sem break |
No student involvement (Breaks, information) |
In-Semester Break There will be no seminars / workshops or consultations this week (21-25 April). |
Week 9 |
Lecture |
S7. Accounting for Joint Arrangements Joint control; nature of joint arrangements/joint ventures; accounting for joint arrangements. Learning outcomes: L01, L02, L04, L05 |
Workshop |
W6. Consolidation: Partly Owned Subsidiaries (INCI) Learning outcomes: L01, L02, L03 |
|
Week 10 |
Lecture |
S8. The Equity Method Accounting for associates and joint ventures. Identification of associates and joint ventures; reporting and disclosure under the equity method Learning outcomes: L01, L03, L04, L05 |
Workshop |
W7. Accounting for Joint Arrangements Learning outcomes: L01, L02, L04, L05 |
|
Week 11 |
Lecture |
S9. Foreign operation The need for translation. Functional and presentation currency; translation methods. Learning outcomes: L01, L02, L04, L05 |
Workshop |
W8. The Equity Method Learning outcomes: L01, L03, L04, L05 |
|
Week 12 |
Lecture |
S10. External Administration & Liquidation External administration including liquidation and winding up. Learning outcomes: L04, L05 |
Workshop |
W9. Foreign operation Learning outcomes: L01, L02, L04, L05 |
|
Week 13 |
Lecture |
S11. Review and revision Semester review; final exam information |
Workshop |
W10. External Administration & Liquidation Learning outcomes: 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.