AC213 Corporate Accounting
DESCRIPTION
This unit is designed to introduce students to the fundamental principles of corporate accounting. Students will gain an understanding of key accounting standards and how they are interpreted and applied by accountants when compiling general purpose financial reports. This unit will also provide students with an understanding of how annual reports and financial statements can be used to analyse organisational performance. Students will be encouraged to integrate theory and practical application by the use assessments based on “real” industry case studies.
RELEVANT COURSES
*Core unit
Elective unit
CREDIT POINTS
10
DELIVERY MODE
On campus
Online
Extensive
PREREQUISITE OR CO-REQUISITE
AC101 Accounting I
UNIT LEARNING OUTCOMES
LO1 Evaluate the sources of authority for the accounting requirements imposed on companies
LO2 Generate financial statements for a company in accordance with the accounting standards
LO3 Apply the principles of consolidation
LO4 Evaluate various aspects of disclosure and analyse performance from a company's annual report
LO5 Explain the concept of financial instruments and the requirements for initial and subsequent measurement and related disclosures
CONTENT
Introduction to the nature and regulation of companies and, company formation, share capital and debt securities
Reserves and profit distribution
Using the various financial instruments and published financial statements
Understanding the accounting for company income tax
Business combinations
Consolidation – controlled entities
Consolidation – wholly owned entities & intragroup transactions
Revaluation & impairment of assets
Leases
Additional standards and disclosure
Accounting for foreign currency; understanding insolvency and liquidation
ASSESSMENT METHODS
1. Online Tests - 20%
2. Written Assessment - 30%
3. Exam - 50%
PRESCRIBED READINGS
Deegan, C. (2019). Australian financial accounting (9th Ed). Sydney: McGraw-Hill Education
Check with the lecturer each semester before purchasing any textbooks.