This course covers the characteristics of the Australian accounting environment and its financial reporting requirements for companies, and expands on advanced financial accounting issues, such as, accounting for non-current assets, accounting for intangible assets, accounting for liabilities and owners' equity, and provides a comprehensive coverage of consolidation issues.

Learning Outcomes

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

1. Demonstrate an understanding of the regulatory environment in which the companies are formed and operate in Australia.
2. Explain accounting and reporting requirements of the Corporations Act and relevant Australian Accounting Standards Board (AASB) accounting standards.
3. Demonstrate a comprehensive understanding of the advanced issues in accounting for assets, liabilities and owner’s equity.
4. Record and illustrate the effects of a range of advanced financial accounting issues.
5. Demonstrate an understanding of the accounting requirements for a corporate group and familiarity with the theory underlying the methods used to account for inter-company investments.
6. Prepare consolidated accounts for a corporate group.
7. Analyse complex issues in the topic, to formulate well reasoned and coherent arguments and to reach well considered conclusions.

Research-Led Teaching

Students will be exposed to research ideas and be involved in discussions of research in the areas of financial reporting requirements and business combinations.

Required Resources

AASB Standards:

https://aasb.gov.au/pronouncements/accounting-standards/

Additional readings:

see wattle.

Recommended Resources

Prescribed Text

Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, H. and Byrnes, K., 2022. Financial Reporting, 4th ed, Wiley.

Students are expected to have access to a copy of the prescribed book for the duration of the semester. The textbook can be purchased online directly from the publisher via https://www.wileydirect.com.au/buy/financial-reporting/. The text may 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 ANU Library and the link to the library e-book is as below:

https://ebookcentral-proquest-com.virtual.anu.edu.au/lib/anu/detail.action?pq-origsite=primo&docID=7099270

Staff Feedback

Students will be given feedback in the following forms in this course:

• written comments
• verbal comments

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

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 Integrity Rule.

 

COMMUNICATION

Email and the Wattle Course Website

Email and the Wattle course website are the preferred ways of communication.

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. Information about your enrolment and fees from the Registrar and Student Services' office will also be sent to this email address.

 

Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Accounting regulation and the conceptual frameworkRevenue recognitionChapter 1Chapter 16
2	Corporate reporting and disclosureChapter 17Chapter 19Chapter 22
3	Accounting for property, plant, and equipment, and intangiblesChapter 6Chapter 7Chapter 8	In-tutorial presentation
4	Accounting for income taxChapter 13	In-tutorial presentation
5	Accounting for financial instrumentsAccounting for foreign currencyChapter 12Chapter 24	In-tutorial presentation
6	No lectures	In-class testIn-tutorial presentation
7	Accounting for leasesChapter 11
8	Provisions and contingent liabilitiesIntroduction to business combinations and consolidationChapter 9Chapter 26Chapter 27	In-tutorial presentation
9	Accounting for wholly-owned subsidiaries IChapter 28	In-tutorial presentation
10	Accounting for wholly-owned subsidiaries IIChapter 28	In-tutorial presentation
11	Accounting for intra-group transactionsChapter 29	In-tutorial presentation
12	Share capital and reservesChapter 14	In-tutorial presentation

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
Tutorial preparation (5%)	5 %	24/02/2025	03/03/2025	1,2,3,4,5,6,7
In-tutorial Presentations (10%)	10 %	03/03/2025	18/06/2025	1,2,3,4,7
In-class Test (35%)	35 %	24/03/2025	16/04/2025	1,2,3,4,5,6,7
Final Examination (50%)	50 %	29/05/2025	26/06/2025	1,2,3,4,5,6,7

* 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 classes, 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

Tutorial preparation (5%)

Tutorial preparation is assessed from week 2. It is expected that students prepare for and attend all tutorials scheduled for the course. Students who do not attend their assigned tutorial due to misadventure, sickness, or other ‘valid’ reasons, must notify their tutor with supporting evidence (such as medical certificates) as soon as possible. Depending on the circumstances, your tutor may require you to attend a different tutorial or make alternative arrangements. 

Students are required to attend their assigned tutorial each week, and their preparation will be marked. There will be 10 assessments of the preparations and it will be assessed from the second tutorial during the semester. Any missed tutorial or tutorial attendance without preparation will be marked with 0.

1 mark -fully attempted at all tutorial questions.

0.5 mark -did not demonstrate full attention to all tutorial questions.

0 mark - did not attend the assigned tutorial, nor did the student prepare for the tutorials.

This component is worth 5% of the overall final grade.

Due date: The due date listed in the assessment summary is the earliest possible date. This assessment task is assessed weekly.

Return Date: For this task, marks will be provided to students in the week after (via Gradebook on Wattle).

Assessment Task 2

In-tutorial Presentations (10%)

Students will be required to form their own groups within the same tutorial class to complete this assessment. The minimum and maximum group sizes permitted will be announced in Week 2.. Each group will be assigned a week to present their analysis of a topic related to the previous lecture and facilitate broader discussion within the class. The presentation topics for the upcoming weeks will be announced alongside the lecture notes and tutorial questions for the corresponding weeks. Students will have one week to prepare for their presentations.

The presentation will last 10 minutes, followed by 5 minutes of Q&A with the class. The presentation should demonstrate a deeper analysis than what has been covered in the lecture.

Each group member is expected to contribute equally, and all members will receive the same mark. If group dynamics become difficult, the tutor will be the first point of contact. The course convenor will intervene if the situation escalates.

The presentation will be assessed based on three criteria:

1. Content of the presentation - understanding of the course content, extended discussion of some key issues
2. Quality of the presentation - the clarity, structure and cohesiveness of the presentation, creativity and interest of presentation format, the effectiveness and communication skills demonstrated by the individual student, and keeping to appropriate time limits.
3. Efforts and ability to engage the class and encourage participation in discussions and respond and interact with the class and tutor.

This component is worth 10% of the overall final grade. Marks will be given based on the tutor’s assessment (50%) and students’ assessment of the presentation (50%).

Feedback: feedback will be provided in each tutorial and final marks for presentations will be released after all presentations are finished.

Return Date: The return date listed in the assessment summary is the latest possible return date.

Assessment Task 3

In-class Test (35%)

The in-class test will be a closed book on-campus invigilated assessment with a duration of approximately 60-90 minutes. It will be held in week 6 during or outside of lecture time. The in-class test will include a combination of multiple-choice questions and application and analysis questions. The test is worth 35% marks toward the final grade. Testable content includes materials from Week 1 to Week 5, inclusive. The due date listed in the assessment summary is the earliest possible date. Further details will be provided no later than Week 5.

Students are expected to submit an Extenuating Circumstances Application using?the ECA eForm, via ISIS where extenuating circumstances have affected their ability to attend the test.

Assessment Task 4

Final Examination (50%)

The final exam is worth 50% marks toward your final grade. The final exam will be an in-person, closed book on-campus invigilated exam with a duration of 2 hours of writing time plus 15 minutes of reading time. Testable content includes material from Week 7 to Week 12 inclusive. The final exam may include a combination of multiple-choice questions and application and analysis. Details will be provided no later than Week 10. To prepare for the final exam, students can practice using the lecture questions and tutorial questions. Some past-year exam questions will also be provided. 

Students are expected to submit an Extenuating Circumstances Application using?the ECA eForm, via ISIS where extenuating circumstances have affected their ability to attend the exam.

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 not permitted. Submission of assessment tasks without an extension after the due date is not permitted, 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. Any use of artificial intelligence must be properly referenced. Failure to properly cite use of Generative AI will be considered a breach of academic integrity.

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.

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 Accessibility 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 supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents all ANU students