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

    2019
  • Enrolment Period

    1
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Siew Hoon ONG

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

Unit Content

  1. Accounting for construction contracts
  2. Accounting for income taxes
  3. Financial reporting by segments
  4. Preparation of cash flow statements
  5. Earnings per share
  6. Translation of foreign operations
  7. Accounting for extractive industries
  8. Introduction to group accounts including accounting for non-controlling interests and intercompany transactions

Learning Experience

ON-CAMPUS

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

JoondalupMount LawleySouth West (Bunbury)
Semester 113 x 2 hour lectureNot OfferedNot Offered
Semester 113 x 1 hour tutorialNot OfferedNot Offered
Semester 213 x 2 hour lectureNot OfferedNot Offered
Semester 213 x 1 hour tutorialNot OfferedNot Offered

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. Students are supplied with unit materials encompassing lecture notes and lecture exercises. 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. 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 required to demonstrate the application of each accounting standard by attempting relevant questions concerning each week's 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.

ON CAMPUS
TypeDescriptionValue
ProjectCollaborative project 10%
TestProgression Test One15%
TestProgression Test Two15%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
ProjectCollaborative project 10%
TestProgression Test One15%
TestProgression Test Two15%
Examination ^Final Examination60%

^ Mandatory to Pass

Core Reading(s)

  • Deegan, C. (2016). Financial accounting (8th Edition, pp. xxiv, 1150). North Ryde, N.S.W: McGraw-Hill Australia. Retrieved from https://ecu.on.worldcat.org/oclc/949761197?databaseList=638
  • Chartered Accountants Australia and New Zealand. (2017). Financial Accounting Handbook 2017. Financial reporting handbook 2017. Milton, Qld: John Wiley & Sons Australia. Retrieved from https://ecu.on.worldcat.org/oclc/971499128?databaseList=638
  • n.d. (2019). Financial reporting handbook 2019 : Australia, incorporating all the standards as at 1 December 2018. Milton, Qld: John Wiley. Retrieved from https://ecu.on.worldcat.org/oclc/1089931301

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ACC2700|1|1

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

    2019
  • Enrolment Period

    2
  • Version

    1
  • Credit Points

    15
  • Full Year Unit

    N
  • Mode of Delivery

    On Campus
    Online
  • Unit Coordinator

    Dr Siew Hoon ONG

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

Unit Content

  1. Accounting for construction contracts
  2. Accounting for income taxes
  3. Financial reporting by segments
  4. Preparation of cash flow statements
  5. Earnings per share
  6. Translation of foreign operations
  7. Accounting for extractive industries
  8. Introduction to group accounts including accounting for non-controlling interests and intercompany transactions

Learning Experience

ON-CAMPUS

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

JoondalupMount LawleySouth West (Bunbury)
Semester 113 x 2 hour lectureNot OfferedNot Offered
Semester 113 x 1 hour tutorialNot OfferedNot Offered
Semester 213 x 2 hour lectureNot OfferedNot Offered
Semester 213 x 1 hour tutorialNot OfferedNot Offered

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. Students are supplied with unit materials encompassing lecture notes and lecture exercises. 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. 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 required to demonstrate the application of each accounting standard by attempting relevant questions concerning each week's 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.

ON CAMPUS
TypeDescriptionValue
ProjectCollaborative project 10%
TestProgression Test One15%
TestProgression Test Two15%
Examination ^Final Examination60%
ONLINE
TypeDescriptionValue
ProjectCollaborative project 10%
TestProgression Test One15%
TestProgression Test Two15%
Examination ^Final Examination60%

^ Mandatory to Pass

Core Reading(s)

  • Deegan, C. (2016). Financial accounting (8th Edition, pp. xxiv, 1150). North Ryde, N.S.W: McGraw-Hill Australia. Retrieved from https://ecu.on.worldcat.org/oclc/949761197?databaseList=638
  • Chartered Accountants Australia and New Zealand. (2017). Financial Accounting Handbook 2017. Financial reporting handbook 2017. Milton, Qld: John Wiley & Sons Australia. Retrieved from https://ecu.on.worldcat.org/oclc/971499128?databaseList=638
  • n.d. (2019). Financial reporting handbook 2019 : Australia, incorporating all the standards as at 1 December 2018. Milton, Qld: John Wiley. Retrieved from https://ecu.on.worldcat.org/oclc/1089931301

Disability Standards for Education (Commonwealth 2005)

For the purposes of considering a request for Reasonable Adjustments under the Disability Standards for Education (Commonwealth 2005), inherent requirements for this subject are articulated in the Unit Description, Learning Outcomes and Assessment Requirements of this entry. The University is dedicated to provide support to those with special requirements. Further details on the support for students with disabilities or medical conditions can be found at the Access and Inclusion website.

Academic Misconduct

Edith Cowan University has firm rules governing academic misconduct and there are substantial penalties that can be applied to students who are found in breach of these rules. Academic misconduct includes, but is not limited to:

  • plagiarism;
  • unauthorised collaboration;
  • cheating in examinations;
  • theft of other students' work;

Additionally, any material submitted for assessment purposes must be work that has not been submitted previously, by any person, for any other unit at ECU or elsewhere.

The ECU rules and policies governing all academic activities, including misconduct, can be accessed through the ECU website.

ACC2700|1|2