The course examines a selection of advanced corporate financial reporting issues associated with the measurement and disclosure of financial information. It provides a description of the contemporary corporate reporting environment and its challenges, and addresses the social and economic roles played by financial accounting and reporting. The course further examines a range of advanced accounting issues including fair value measurement, financial instruments, share-based payments, segment reporting, specific industries, external administration and liquidation and advanced topics related to equity interests. Technical and theoretical aspects are considered.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Explain the Australian external reporting environment and its challenges.
2. Demonstrate an understanding of the social and economic roles played by financial accounting and reporting.
3. Critically evaluate various advanced measurement and disclosure issues and other specialised topics pertaining to an economic entity.
4. Apply the main features of a selection of Australian accounting standards appropriately.
5. Analyse complex issues in the topic, to formulate well reasoned and coherent arguments and to reach well considered conclusions.

Research-Led Teaching

The syllabus for this course is anchored in the Australian regulatory corporate financial reporting framework, including the AASB standards associated with accounting and disclosure of the advanced topics involved. At the same time, however, the course also draws on research-based academic journal publications consisting of empirical, theoretical and review articles in examining the challenges and pressures shaping the standard setting process.

Examination Material or equipment

Details regarding examination conduct can be found on the ANU website:

http://www.anu.edu.au/students/program-administration/assessments-exams/examination-conduct

Information regarding permitted examination materials for the course will be available on the examination timetable website when the examination timetable is released:

http://timetable.anu.edu.au/

Required Resources

READING LISTS

Prescribed Texts

Loftus, J., Leo, K., Daniliuc, S., Boys, N., Luke, B., Ang, H., and Byrnes, K., 2023. Financial Reporting, 4th edition, Wiley.

Students are expected to have access to a copy of the prescribed book for the duration of the semester. The text might be available for short-term loan in the reserve loan section of the Chifley Library. An e-book version of the text is available from the Chifley Library .

Supplementary Reading Materials

Supplementary reading materials on various topics will be provided on Wattle as required.

Recommended Resources

Recommended Reading

Chartered Accountants Australia and New Zealand, Financial Reporting Handbook 2020, Wiley. (Alternatively, access to Australian Accounting Standards Board through the AASB website: http://www.aasb.gov.au)

Deegan, C., 2020, Australian Financial Accounting, 9^th edition, McGraw-Hill.

Henderson, S., Peirson, G., Herbohn, K., Artiach, T. and Howieson, B., 2017, Issues in Financial Accounting, 16^th edition, Pearson.

Loftus, J., Leo, K., Daniliuc, S., Boys, N., Luke, B., Ang, H., and Byrnes, K., 2020. Financial Reporting, 3th edition, Wiley.

Leo, K., Knapp, J., McGowan, M., Sweeting, J. and Meng L., 2020. Company Accounting, 12^th edition, Wiley.

Clarke, F. and Dean, G., 2007, Indecent Disclosure: Gilding the Corporate Lily, Cambridge University Press.

Clarke, F., Dean, G. and Oliver, K., 1997, Corporate Collapse: Regulatory, Accounting and Ethical Failure, Cambridge University Press.

Staff Feedback

Students will be given feedback in various ways in this course, including verbal or written feedback on the return of assessment tasks, during class discussion, or during consultation with lecturers and tutors.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Other Information

ASSESSMENT REQUIREMENTS

As a further academic integrity control, students may be selected for a 15 minute individual oral examination of their written assessment submissions.

Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Misconduct Rule.

COMMUNICATION

Email and Forums on the Wattle Course Website

Email and the Wattle course website are the preferred ways of communication. Students forums are set up on Wattle and can be viewed by all enrolled students and teaching staff. Students are encouraged to post any questions they have in the appropriate forum.

If necessary, the lecturer and tutors for this course will contact students on their official ANU student email address. Students should use this email address when contacting staff as spam filters used by ANU may not allow other email addresses to be received.

 

Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials will be posted on the door of the relevant room and on Wattle.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Consolidation Revision: Wholly owned entities and intragroup transactionsReadings - Loftus Chapters 27-29
2	Consolidation: Non-controlling interestReadings - Loftus Chapter 30
3	Advanced consolidation and other issues: Part IReadings - Loftus Chapter 31	Online quiz 1: Lectures 1 & 2, due at 6pm, Friday, 8 March
4	Advanced consolidation and other issues: Part IIReadings - Loftus Chapter 31
5	Fair value measurementReadings - Loftus Chapter 4Supplementary reading materials
6	In-class test	In-class test: Lectures 1-4 inclusive
7	Share-based payment transactionsReadings - Loftus Chapter 15Supplementary reading materials
8	Associates and joint venturesReadings - Loftus Chapter 32Supplementary reading materials	Online quiz 2: Lectures 5 & 7, due at 6pm, Friday, 26 April
9	Joint arrangementsReadings - Loftus Chapter 33Supplementary reading materials
10	Operating segmentsReadings - Loftus Chapter 21Supplementary reading materials	Research assignment due at 4pm Friday, 10 May
11	Accounting for mineral resourcesReadings - Loftus Chapter 35Supplementary reading materials	Online quiz 3: Lectures 8-10 inclusive, due at 6pm, Friday, 17 May
12	Insolvency and liquidationReadings - Loftus Chapter 34Supplementary reading materials

Tutorial Registration

Tutorials will be held weekly on campus (starting from Week 2). Tutorial times will be made available via MyTimetable. Two weeks before the commencement of semester, please check the MyTimetable website for details of tutorial availability and release.

ANU utilises MyTimetable to enable students to view the timetable for their enrolled courses, browse, then self-allocate to small teaching activities/tutorials so they can better plan their time. Find out more on the https://www.anu.edu.au/students/program-administration/timetabling].

Please see Wattle for tutors’ information.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Online quizes (15%)	15 %	08/03/2024	15/03/2024	1,2,3,4,5
Research assignment (20%)	20 %	10/05/2024	24/05/2024	1,2,3,4,5
In-class test (25%)	25 %	26/03/2024	16/04/2024	1,2,3,4,5
Final Examination (40%)	40 %	30/05/2024	27/06/2024	1,2,3,4,5

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines , which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Extenuating Circumstances Application
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Course delivery: on-campus lecture (recording on Echo360) and weekly on-campus tutorials.

Attendance at all teaching events, while not compulsory, is expected in line with “Code of Practice for Teaching and Learning”, clause 2 paragraph (b).

Examination(s)

Information regarding permitted examination materials for the course will be available on the examination timetable website when the examination timetable is released: http://timetable.anu.edu.au/

Assessment Task 1

Online quizes (15%)

Instructions

There are three online quizzes to be completed on Wattle, and each weighs 5% of the final mark. The time and examinable contents and due dates are provided in the section "CLASS STRUCTURE AND CONTENT". Students will work individually for this assessment task. More details will be provided in Week 1's lecture.

Due date

The due date listed in the assessment summary is the earliest possible date.

Return date

Answers and feedback will be provided to the students in the next week's lecture. Feedback on the first quiz will be provided by Friday 15 March.

Assessment Task 2

Research assignment (20%)

Due Date: 4pm on Friday, 10 May 2024

Instructions

Students will work individually for this assessment task. Each student will prepare a paper based on a major issue(s) in Week 7. The preparation of the paper will require extensive reading. It is expected to be well-researched and properly prepared. Students are encouraged to discuss issues relating to the paper with the lecturer or tutor prior to its preparation and submission.

Submission

This assignment should be submitted via Turnitin.

Purpose

This assignment provides you with an opportunity to apply theoretical and technical aspects of financial accounting/reporting relating to a practical case and/or academic debate, and develop your ability to analyse an issue critically and systematically.

Task details

Task details of the assignment will be provided by the end of Week 7.

Feedback

Written feedback will be provided on the return of this assignment.

Assessment Task 3

In-class test (25%)

Instructions

The in-class test will be held in class in Week 6. The in-class test will cover topics in Weeks 1 to 4 inclusive.  This test will be an in-person exam with a duration of 1.5 hours writing time plus 15 minutes reading time. Details will be provided no later than Week 4.

Due date

1-3 pm Tuesday, 26 March

Return date

Feedback will be provided to the students in Week 7's lecture.

Assessment Task 4

Final Examination (40%)

The final exam covers all topics, with an emphasis on topics covered in lectures from Weeks 5-12 inclusive. This final examination will be an in-person exam with a duration of 3 hours writing time plus 15 minutes reading time. Students will be prepared by completing the in-class test. Details will be provided no later than Week 10. Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. The due date listed in the assessment summary is the earliest possible date. Please check ANU Timetabling for further information. Information regarding exam script viewing will be provided in due course.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

 Late submission is not permitted. If an assessment task is submitted without an extension after the due date, a mark of 0 will be awarded.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

Returning Assignments

The assignment will effectively be ‘returned’ in the process of providing feedback via the Turnitin system.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Resubmission of assignments is not permitted in this course.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Access and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students