Handbook : Unit informationEdith Cowan University

School: Business and Law

This unit information may be updated and amended immediately prior to semester. To ensure you have the correct outline, please check it again at the beginning of semester.

• Unit Title

  Financial Reporting Standards

• Unit Code

  ACC2700

• Year

  2018

• Enrolment Period

  1

• Version

  1

• Credit Points

  15

• Full Year Unit

  N

• Mode of Delivery

  On Campus
  Online

• Unit Coordinator

  Dr Siew Hoon ONG

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Description

This unit is designed to build and extend student understanding of the impact of accounting theory, law and practice on corporate accounting in Australia. A number of accounting standards are considered and key topics in the preparation of general purpose financial reports are addressed.

Prerequisite Rule

Students must have passed ACC2250.

Equivalent Rule

Unit was previously coded ACC3530

Learning Outcomes

On completion of this unit students should be able to:

1. Understand, interpret, and apply the provisions of selected accounting standards.
2. Understand the scope of regulation relating to Australian external financial reporting.
3. Prepare corporate and group accounts which comply with relevant accounting regulations.
4. Build on the concepts, assumptions, and principles introduced in preceding accounting units.

Unit Content

1. Preparation of cash flow statements.
2. Accounting for income tax.
3. Accounting for joint operation.
4. Accounting for construction contracts.
5. Translation of foreign operations.
6. Accounting for extractive industries.
7. Segment reporting.
8. Introduction to group accounts including accounting for non-controlling interests and intercompany transactions.
9. Calculation of earnings per share.

Learning Experience

ON-CAMPUS

Students will attend on campus classes as well as engage in learning activities through ECU Blackboard.

For more information see the Semester Timetable

ONLINE

Students will engage in learning experiences through ECU Blackboard as well as additional ECU learning technologies.

Additional Learning Experience Information

On-campus students attend a weekly lecture and tutorial. The purpose of the lecture is to introduce the topic, identify key accounting issues addressed by a relevant accounting standard and to demonstrate application of the standard in terms of work-related practical examples. The purpose of the tutorial is to gain additional practice in the application of accounting standards relevant to financial reporting topics. Off-campus students are supplied with unit materials encompassing lecture notes, lecture exercises, and solutions to tutorial questions. These materials are accessible via Blackboard. Regular online access is required. Students are assigned a tutor to assist with the interpretation and application of the accounting standards that form the basis for each topic. Off campus students are supported by videos incorporating the explanation and interpretation of accounting standards related to each financial reporting topic as well as detailed explanation of the application of the accounting standard. Students are also given the opportunity to demonstration the application of each accounting standard by attempting relevant questions concerning each weeks topic.

Assessment

GS1 GRADING SCHEMA 1 Used for standard coursework units

Students please note: The marks and grades received by students on assessments may be subject to further moderation. All marks and grades are to be considered provisional until endorsed by the relevant Board of Examiners.

^ Mandatory to Pass

Core Reading(s)

• Deegan, C. (2016). Financial accounting (8th Edition, pp. xxiv, 1150 ). North Ryde, N.S.W: McGraw-Hill Australia.
• Chartered Accountants Australia and New Zealand. (2017). Financial Accounting Handbook 2017. Financial reporting handbook 2017. Milton, Qld: John Wiley & Sons Australia.

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