Corporate Accounting (ACCT7104)

Course overview

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.ﾠ 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.ﾠIntroductory accounting (ACCT7101 or similar) is assumed background, and is a pre-requisite for this course.ﾠWhile 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

Timetable

The timetable for this course is available on the UQ Public Timetable.

Additional timetable information

Seminars and workshops

ACCT7104 contains one mandatory seminar in each of the scheduled teaching weeks, as well as one mandatory workshop commencing in week 2 of the semester. Questions and solutions covered in the workshop are posted to the course Blackboard site. It is highly recommended that you attempt the workshop questions before coming to a workshop and raise any queries on a timely basis, that is, not concentrated into the week before assessments.

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 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

The main aims of this course are to enable students to gain an appreciation of how different levels of control between entities affects 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:

Assessment

Assessment summary

Assessment details

Case Study

Mode

Written

Category

Essay/ Critique

Weight

25%

Due date

21/08/2024 1:00 pm

Learning outcomes

L01, L03, L04, L05

Task description

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

25%

Due date

30/09/2024 9:30 am

Learning outcomes

L01, L02, L03

Task description

Exam details

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

2/11/2024 - 16/11/2024

Other conditions

Time limited.

See the conditions definitions

Learning outcomes

L01, L02, L03, L04, L05

Task description

Exam details

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.

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.

Learning activities

The learning activities for this course are outlined below. Learn more about the learning outcomes that apply to this course.

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.