Faculty of Arts and Business School of Business Teaching Session: Semester 1 Year: 2016 Course Coordinator: Dr Peter Baxter Office: K1.23 Telephone: +61 7 5430 2871 Email: pbaxter@usc.edu.au Consultation Times: As advised on Blackboard Course outline Code: ACC221 Title: Company Accounting 1. What is this course about? 1.1 Course description This course is designed to impart basic skills towards the interpretation and application of accounting standards and other statutory requirements reflected in company financial reports. The first section of the course concerns the regulations governing the preparation of the financial reports of companies. The second section covers specific company reporting issues such as accounting for company income tax, business combinations and the liquidation of companies. The remaining section of the course concerns company consolidations and accounting for investments in associated entities. 1.2 Course content Nature and regulation of companies Financing company operations Accounting for income tax Business combinations Consolidation: controlled entities Consolidation: wholly owned subsidiaries Consolidation: intragroup transactions Consolidation: non-controlling interest Revision on consolidations Associates and joint ventures Insolvency and liquidation 2. Unit value 12 units
Page 2 3. How does this course contribute to my learning? Specific Learning Outcomes Assessment Tasks Graduate Qualities On successful completion of this course you should be able to: Critically analyse and solve a variety of company accounting problems. Understand, interpret and apply company accounting knowledge to a range of business situations. You will be assessed on the learning outcome in task/s: Completing these tasks successfully will contribute to you becoming: 1 and 3 Creative and critical thinkers. 1, 2 and 3 Knowledgeable. 4. Am I eligible to enrol in this course? Refer to the Coursework Programs and Awards - Academic Policy for definitions of pre-requisites, corequisites and anti-requisites 4.1 Enrolment restrictions 4.2 Pre-requisites ACC210 4.3 Co-requisites 4.4 Anti-requisites 4.5 Specific assumed prior knowledge and skills A sound understanding of the topics covered in ACC210 Financial Accounting. 5. How am I going to be assessed? 5.1 Grading scale Standard High Distinction (HD), Distinction (DN), Credit (CR), Pass (PS), Fail (FL)
Page 3 5.2 Assessment tasks Task No. Assessment Tasks Individual or Group Weighting % What is the duration / length? When should I submit? 1 Online quizzes 2 Mid-semester test 3 Final exam Individual 50% 2 hours Central examination period Assessment Task 1: Online quizzes Where should I submit it? Online Individual 20% N/A Weekly during the semester Individual 30% 1 hour Week 5 In lecture 100% In exam venue Goal: The goal of the on-line quizzes is to encourage your engagement with the course materials and enhance your learning opportunities. Product: Completion of specified online quizzes. Format: The online quizzes will consist of 10 multiple choice questions from each week of the course starting in Week 2. There are 11 weeks during the semester with online quizzes with each being allocated a mark out of 2.5%. Your best 8 quizzes attempted will count towards your total mark for this assessment task. Criteria Correctly answering the quizzes will demonstrate your ability to understand and apply the relevant topics of the course. Generic skill assessed Skill assessment level Problem solving Developing Assessment Task 2: Mid-semester test Goal: Product: Format: Criteria The goal of the mid-semester test is to provide you with an opportunity to demonstrate your understanding and application of the material covered in weeks 2 and 3 of the course. Practical test based on weeks 2 and 3 of the course. The test will be held during the Week 5 lecture time and will comprise practical questions examining material covered in Weeks 2 and 3 (Financing company operations and Accounting for company income tax). You will have 1 hour to complete the test. More details will be provided on Blackboard. Correctly answering the test questions will demonstrate your ability to understand and apply the content and concepts in weeks 2 and 3 of the course. Skill assessment level Developing Generic skill assessed Problem solving
Page 4 Assessment Task 3: Final exam Goal: The goal of the final exam is to provide you with an opportunity to demonstrate your understanding and application of the material covered in weeks 6 to 12 of the course. Product: Exam Format: The final exam will comprise several practical questions drawn from the topics covered in weeks 6 to 12 of the course. You will have 2 hours to complete the exam with 10 minutes perusal. The exam will be closed book and more details will be provided to you later in the semester. It will occur during the centrally scheduled exam period. Criteria Correctly answering the final exam questions will demonstrate your understanding and application of the company accounting concepts learnt during the course. Generic skill assessed Skill assessment level Problem solving Developing 5.3 Additional assessment requirements SafeAssign In order to minimise incidents of plagiarism and collusion, this course may require that some of its assessment tasks are submitted electronically via SafeAssign. This software allows for text comparisons to be made between your submitted assessment item and all other work that SafeAssign has access to. If required, details of how to submit via SafeAssign will be provided on the Blackboard site of the course. Eligibility for Supplementary Assessment Your eligibility for supplementary assessment in a course is dependent of the following conditions applying: a) The final mark is in the percentage range 47% to 49.4% b) The course is graded using the Standard Grading scale c) You have not failed an assessment task in the course due to academic misconduct 5.4 Submission penalties Late submission of assessment tasks will be penalised at the following maximum rate: 5% (of the assessment task s identified value) per day for the first two days from the date identified as the due date for the assessment task. 10% (of the assessment task s identified value) for the third day 20% (of the assessment task s identified value) for the fourth day and subsequent days up to and including seven days from the date identified as the due date for the assessment task. A result of zero is awarded for an assessment task submitted after seven days from the date identified as the due date for the assessment task. Weekdays and weekends are included in the calculation of days late. To request an extension you must contact your course coordinator to negotiate an outcome. 6. How is the course offered? 6.1 Directed study hours On campus : 2 Hours per week On campus Tutorial: 2 Hours per week 6.2 Teaching semester/session(s) offered Semester 1
Page 5 6.3 Course activities Teaching What key concepts/content will I Week / learn? Module 1 Nature and regulation of companies No tutorials What activities will I engage in to learn the concepts/content? Directed Study Independent Study Activities Activities Ch 1 Leo et al Leo et al Ch 1: RQs 1, 2, 3, 6, 7, 9, 10 and 14 2 Financing company operations 3 Accounting for company income tax 4 Friday, 25 th March Good Friday Public Holiday Business combinations 5 Mid-semester test held in normal lecture time Mid Semester Break No tutorials 6 Consolidation: controlled entities 7 Consolidation: wholly owned subsidiaries 8 Monday, 25 th April Anzac Day Public Holiday 9 Monday, 2 nd May Consolidation: intragroup transactions Consolidation: non-controlling interest Ch 2 Leo et al Leo et al Ch 2: RQs 1, 2, 4, 5, 7, 9 and 10; PQ 2.3, 2.4 and 2.18 Ch 6 Leo et al Leo et al Ch 6: RQs 3, 9, 10 and 17; PQ 6.3 and 6.14 Ch 12 Leo et al Leo et al Ch 12: RQs 1, 2, 6 and 7; PQ 12.2 and 12.11 Ch 18 Leo et al Leo et al Ch 18: RQ 1, 4, 8 and 9; CS 10 and 12 Ch 19 Leo et al Leo et al Ch 19: RQ 1, 8 and 10 ; PQ 19.6 and 19.14 Ch 20 Leo et al Leo et al Ch 20: RQ 1, 2 and 6; PQ 20.5 and 20.7 Ch 21 Leo et al Leo et al Ch 21: RQ 1, 4, 5 and 8; PQ 21.5 and 21.14
Page 6 Labour Day Public Holiday 10 Revision on Consolidations 11 Associates and joint ventures 12 Insolvency and liquidation 13 Revision Study Period Central Examination Period End of Semester Break Please note that the course activities may be subject to variation. Homework questions will be identified in the lecture. Ch 23 Leo et al Leo et al Ch 23: RQ 1, 4, 6 and 10; PQ 23.6 and 23.12 Ch 25 Leo et al Leo et al Ch 25: RQ 1, 2, 3, 8 and 9; 25.7 and 25.14 7. What resources do I need to undertake this course? 7.1 Prescribed text(s) Please note that you need to have regular access to the resource(s) listed below: Author Year Title Publisher Leo, K., Knapp, J., McGowan, S. and Sweeting, J 2015 Company Accounting, 10th edn, John Wiley & Sons, Milton. 7.2 Required and recommended readings Lists of required and recommended readings may be found for this course on its Blackboard site. These materials/readings will assist you in preparing for tutorials and assignments, and will provide further information regarding particular aspects of your course. 7.3 Specific requirements 7.4 Risk management There is minimal health and safety risk in this course. It is your responsibility to familiarise yourself with the Health and Safety policies and procedures applicable within campus areas. 8. How can I obtain help with my studies? In the first instance you should contact your tutor, then the Course Coordinator. Student Life and Learning provides additional assistance to all students through Peer Advisors and Academic Skills Advisors. You can drop in or book an appointment. To book: Tel: +61 7 5430 1226 or Email: StudentLifeandLearning@usc.edu.au
Page 7 9. Links to relevant University policies and procedures For more information on Academic Learning & Teaching categories including: Assessment: Courses and Coursework Programs Review of Assessment and Final Grades Supplementary Assessment Administration of Central Examinations Deferred Examinations Student Academic Misconduct Students with a Disability http://www.usc.edu.au/university/governance-and-executive/policies-and-procedures#academic-learningand-teaching 10. Faculty specific information Locating Journal Articles If you have been notified that the journal articles in this course are available on e-reserve, use the on-line library catalogue to find them. For journal articles not on e-reserve, click on the "Journals and Newspapers" link on the Library Homepage. Enter the journal title e.g. History Australia, then search for the volume and issue or keyword as needed. Assignment Cover Sheets The Faculty of Arts and Business assignment cover sheet can be found on Blackboard or on the USC Portal at: Faculty of Arts and Business (Students) > Forms. It must be completed in full identifying student name, assignment topic, tutor and tutorial time. This must be attached securely to the front of each assessment item prior to submission. Claims of loss of assignments will not be considered unless supported by a receipt. Help: If you are experiencing problems with your studies or academic work, consult your tutor in the first instance or the Course Coordinator as quickly as possible. Difficulties: If you are experiencing difficulties relating to teaching and assessment you should approach your tutor in the first instance. If not satisfied after that you should approach in order your Course Coordinator, Program Coordinator then Head of School. General enquiries Student Central - Building C Tel: +61 7 5430 2890 Fax: +61 7 5430 2882 Email: Studentcentral@usc.edu.au