Company Accounting

Queensland University of Technology

Course Description

  • Course Name

    Company Accounting

  • Host University

    Queensland University of Technology

  • Location

    Brisbane, Australia

  • Area of Study

    Accounting

  • Language Level

    Taught In English

  • Prerequisites

    AYB200 or AYB121

  • Course Level Recommendations

    Upper

    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

    12
  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    Synopsis:
    This unit includes: an overview of the statutory requirements that dictate the format and content of published financial reports of companies; the requirements of the Corporations Act 2001 and various disclosure orientated accounting standards; accounting for income tax; accounting for the acquisition of assets (including entities); the preparation of consolidated financial statements; accounting for investments in associates; segment reporting; the translation of the results of foreign operations; and liquidation.
    Learning Outcomes
    On completion of this unit you should be able to:
    1. Identify and discuss accounting regulations and their effect on the content and format of the financial statements of companies
    2. Analyse and synthesise financial data to prepare reports and financial statements in accordance with international accounting standards
    3. Critically evaluate whether procedures adopted to solve accounting problems comply with accounting standards and statutory requirements
    4. Effectively communicate and participate orally and reflect upon performance
    Content
    The content of this unit has been selected with the specified aim and learning outcomes in mind. This unit considers a number of accounting standards - the Australian equivalents to International Financial Reporting Standards (AIFRS). The AIFRS covered in this unit include: presentation of financial statements; accounting policies, changes in accounting estimates and errors; events after the reporting period; income taxes; business combinations; consolidated and separate financial statements; the effects of changes in foreign exchange rates; segment reporting; and investments in associates. Finally, liquidation of companies is covered. The AIFRS taught in this unit will provide students with an appreciation of the international dimensions of the discipline.
    The generic capabilities developed in this unit are discipline knowledge, higher order thinking (synthesis and analysis and judgement and problem-solving), oral communication, self-reflection and knowledge of socially responsible behaviour.
    Approaches to Teaching and Learning
    Teaching and learning strategies are designed to facilitate the unit's aims and learning outcomes. The role of the lecture is to provide an overview of the topic for each week and to highlight difficult areas. Lectures will also relate the topic to relevant accounting regulations and explain accounting concepts and procedures associated with each topic. Tutorials on each topic are one week after the lecture to allow students time to study the course reading material and to attempt tutorial questions. The tutorial component includes a 1 ½ hr in-class tutorial each week, as well as various online resources. The in-class tutorial examines concepts, cases, and processes relevant to the weekly lecture material.
    All formal classes, the course material and other specified reading are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic and no element should be neglected.
    Success in this unit depends upon understanding and at times questioning the concepts and processes relevant to company accounting, and being able to develop critical analysis skills with respect to contemporary accounting issues. Weekly tutorial questions provide practice in analysing and solving problems similar to those set in examinations. Working through tutorial questions and participating in tutorial discussions should provide valuable feedback on the degree of understanding and competence in critical analysis attained.
    Lecture materials (e.g. PowerPoint slides, lecture examples), worksheets for tutorial questions, solutions to the practical tutorial questions and review questions will be available each week from the AYB340 Blackboard site. You should download the lecture materials each week and bring them with you to the lecture. The lecture slides also contain the tutorial questions, usually on the last slide(s).
    Past experience has indicated that there is a strong correlation between students who pass the unit and students who attend and participate in lectures and tutorials.
    Assessment
    Assessment name: Presentation and Participation
    Description: Presentation, discussion leadership, self-reflection and participation Each student will be required to: a) Prepare a presentation question during the semester, based on a topic agreed with your tutor in Tutorial 1 (week 2). Presentation questions will be provided as part of the weekly PowerPoint lecture materials, and you may use PowerPoint or other technologies to assist in your presentation. Students will be required to present the first part (approximately 50%) of the answer to the tutorial group, and lead the group in a discussion on the remainder of the question (marks for part a: 10%). b) Reflect on your presentation (based on a brief discussion with your tutor at the end of the class (marks for part b: 10%) c) Constructively participate in class discussion of weekly presentation questions (marks for part c: 5%).
    Length: 5-7 minutes for presentation/discussion leadership; 2-3 minutes for reflection; weekly for constructive participation in discussions.
    Formative or Summative: Both
    Relates to objectives: 4
    Weight: 25
    Internal or external: Internal
    Group or individual: Individual
    Due date: Weekly
    Assessment name: End of Semester Examination
    Description: The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered throughout the semester. The final examination relates to the learning outcomes for the unit and consists of questions that are similar to the tutorial questions. You will be assessed on the adequacy of your answer in relation to your demonstrated knowledge of accounting procedures and statutory requirements, and your written communication skills.
    Length or Duration: 2 hours working plus 15 minutes perusal.
    Formative or Summative: Summative
    Relates to objectives: 1, 2, and 3
    Weight: 50
    Internal or external: Internal
    Group or individual: Individual
    Due date: Central Exam Period
    Assessment name: Mid-Semester Examination
    Description: The purpose of this assessment item is to determine your knowledge and understanding of key concepts and issues covered in topics 1-4. In addition, you will demonstrate an ability to effectively employ written communication skills in a company accounting context. The mid-semester examination consists of: (a) multiple-choice questions (20%); and (b) a short answer written question (5%). Questions cover both theory and practical issues, and relate to the unit's learning outcomes.
    Length: 1 hour working plus 10 minutes perusal
    Formative or Summative: Both
    Relates to objectives: 1, 2, and 3
    Weight: 25
    Internal or external: Internal
    Group or individual: Individual
    Due date: Week 6

Course Disclaimer

Courses and course hours of instruction are subject to change.

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Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.