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KING’S OWN INSTITUTE* Success in Higher Education ACC303 CONTEMPORARY ISSUES IN ACCOUNTING T320 14/10/2020 16:53 PAGE 1 OF 18 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A ACC303 CONTEMPORARY ISSUES IN ACCOUNTING T320 All information in the Subject Outline is correct at the time of approval. KOI reserves the right to make changes to the Subject Outline if they become necessary. Any changes require the approval of the KOI Academic Board and will be formally advised to those students who may be affected by email and via Moodle. Information contained within this Subject Outline applies to students enrolled in the trimester as indicated. This subject replaces ACC302 Advanced Accounting 1. General Information 1.1 Administrative Details Associated HE Award(s) Duration Level Subject Coordinator B Bus (Accg) 1 trimester Level 3 Rex Walsh
[email protected] P: 92833583 L: Level 1, 545 Kent St. Consultation: via Moodle or by appointment 1.2 Core / Elective This is a core subject for B Bus (Accg) 1.3 Subject Weighting Indicated below is the weighting of this subject and the total course points. Subject Credit Points Total Course Credit Points 4 BBus (Accg) 96 1.4 Student Workload Indicated below is the expected student workload per week for this subject No. timetabled hours/week* No. Personal Study Hours/Week** Total Workload Hours/Week*** 4 hours/week (2 hour Lecture + 2 hour Tutorial) 6 hours/week 10 hours/week * Total time spent per week at lectures and tutorials ** Total time students are expected to spend per week in studying, completing assignments, etc. *** Combination of timetable hours and personal study 1.5 Mode of Delivery Blended, that is face-to-face/online 1.6 Pre-requisites ACC100 Introduction to Accounting, ACC101 Introduction to Financial Accounting, ACC200 Introduction to Management Accounting, ACC201 Financial Accounting and ACC202 Management Accounting. Co-requisite ACC300 Auditing and Assurance Services 1.7 General Study and Resource Requirements o Students are expected to attend classes with the weekly worksheets and subject support material provided in Moodle. Students should read this material before coming to class to improve their ability to participate in the weekly activities. o Students will require access to the internet and their KOI email and should have basic skills in word processing software such as MS Word, spreadsheet software such as MS Excel and visual presentation software such as MS PowerPoint. Approved by KOI Academic Board for T3 2020 mailto:
[email protected] ACC303 ACC303 CONTEMPORARY ISSUES IN ACCOUNTING T320 14/10/2020 16:53 PAGE 2 OF 18 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A o Computers and WIFI facilities are extensively available for student use throughout KOI. Students are encouraged to make use of the campus Library for reference materials. Resource requirements specific to this subject: Students should have a non-programmable calculator. Applications in smart phones will not be sufficient to perform the required calculations. 2 Academic Details 2.1 Overview of the Subject The Contemporary Issues in Accounting subject examines a number of contemporary and emerging global issues in order to familiarise you with the business environment you are likely to be operating in as an accountant. Contemporary Issues in Accounting is also a vehicle for advancing the development of professional values, ethics and attitudes. In particular, attitudes that: o value learning combined with well-developed personal communication, networking and information technology skills o acknowledge the importance of professional curiosity as a means of avoiding imprudent decision- making o welcome divergent opinions and creative approaches to problem solving as a means of gaining insights into an increasingly complex and dynamic business world. This subject will also offer you the challenges and opportunities presented by contemporary issues in accounting – such as corporate social responsibility, sustainability and capital Markets. Online resources are used for this subject, including video presentations and web links. 2.2 Graduate Attributes for Undergraduate Courses Graduates of the Bachelor of Business (Accounting), and the Bachelor of Business (Management and Finance) courses from King’s Own Institute will achieve the graduate attributes expected from successful completion of a Bachelor’s degree under the Australian Qualifications Framework (2nd edition, January 2013). Graduates at this level will be able to apply an advanced body of knowledge in a range of contexts for professional practice or scholarship and as a pathway for further learning King’s Own Institute’s key generic graduate attributes for a bachelor’s level degree are summarised below: KOI Bachelor Degree Graduate Attributes Detailed Description Knowledge Current, comprehensive and coherent knowledge Critical Thinking Critical thinking and creative skills to analyse and synthesise information and evaluate new problems Communication Communication skills for effective reading, writing, listening and presenting in varied modes and contexts and for transferring knowledge and skills to a variety of audiences Information Literacy Information and technological skills for accessing, evaluating, managing and using information professionally Problem Solving Skills Skills to apply logical and creative thinking to solve problems and evaluate solutions Ethical and Cultural Sensitivity Appreciation of ethical principles, cultural sensitivity and social responsibility, both personally and professionally Teamwork Leadership and teamwork skills to collaborate, inspire colleagues and manage responsibly with positive results Professional Skills Professional skills to exercise judgement in planning, problem solving and decision making Approved by KOI Academic Board for T3 2020 ACC303 ACC303 CONTEMPORARY ISSUES IN ACCOUNTING T320 14/10/2020 16:53 PAGE 3 OF 18 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Across the course, these skills are developed progressively at three levels: o Level 1 Foundation – Students learn the basic skills, theories and techniques of the subject and apply them in basic, stand-alone contexts. o Level 2 Intermediate – Students further develop skills, theories and techniques of the subject and apply them in more complex contexts, beginning to integrate the application with other subjects. o Level 3 Advanced – Students have a demonstrated ability to plan, research and apply the skills, theories and techniques of the subject in complex situations, integrating the subject content with a range of other subject disciplines within the context of the course. 2.3 Subject Learning Outcomes This is a Level 3 subject. Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject: Subject Learning Outcomes Contribution to Graduate Attributes a) Critically evaluate financial accounting reporting issues and their impact on stakeholders b) Examine various theoretical and philosophical approaches to accounting c) Analyse current accounting issues including ethical requirements d) Evaluate implications of contemporary accounting issues. 2.4 Subject Content and Structure Below are details of the subject content and how it is structured, including specific topics covered in lectures and tutorials. Reading refers to the text unless otherwise indicated. Weekly Planner: Week (beginning) Topic covered in each week’s lecture Reading(s) Expected work 1 02 Nov Contemporary issues in accounting and accounting theory Ch. 1 https://www.accountingtoday.com/new s/the-accounting-professions-biggest- challenges Tutorial exercises 2 09 Nov The conceptual framework for financial reporting and standard setting Ch. 3 https://www.aasb.gov.au/Pronouncem ents/Conceptual-framework.aspx Tutorial exercises 3 16 Nov Theories in accounting: normative and positive accounting theory Ch. 9 https://www.jstor.org/stable/247880?s eq=1/analyze Tutorial exercises 4 23 Nov Capital market research and its implications for accounting Ch. 6 https://www2.deloitte.com/us/en/page s/financial-services/articles/insights- on-the-2019-banking-capital-markets- outlook.html Tutorial exercises Approved by KOI Academic Board for T3 2020 https://www.accountingtoday.com/news/the-accounting-professions-biggest-challenges https://www.accountingtoday.com/news/the-accounting-professions-biggest-challenges https://www.accountingtoday.com/news/the-accounting-professions-biggest-challenges https://www.aasb.gov.au/Pronouncements/Conceptual-framework.aspx https://www.aasb.gov.au/Pronouncements/Conceptual-framework.aspx https://www.jstor.org/stable/247880?seq=1/analyze https://www.jstor.org/stable/247880?seq=1/analyze https://www2.deloitte.com/us/en/pages/financial-services/articles/insights-on-the-2019-banking-capital-markets-outlook.html https://www2.deloitte.com/us/en/pages/financial-services/articles/insights-on-the-2019-banking-capital-markets-outlook.html https://www2.deloitte.com/us/en/pages/financial-services/articles/insights-on-the-2019-banking-capital-markets-outlook.html https://www2.deloitte.com/us/en/pages/financial-services/articles/insights-on-the-2019-banking-capital-markets-outlook.html ACC303 ACC303 CONTEMPORARY ISSUES IN ACCOUNTING T320 14/10/2020 16:53 PAGE 4 OF 18 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A 5 30 Nov Earnings management and quality Ch. 10 https://sfmagazine.com/post- entry/november-2018-the-ethicality-of- earnings-management AASB 133 Tutorial exercises Finalise groups 6 07 Dec Sustainability and environmental accounting Ch.7 https://www.globalreporting.org/inform ation/sustainability- reporting/Pages/default.aspx Tutorial exercises Individual assignment due 7 14 Dec Contemporary theories in accounting Ch. 11 https://link.springer.com/article/10.100 7/s11558-018-9338-z Tutorial exercises 20 Dec 2020 – 03 Jan 2021 Mid trimester break 8 04 Jan Behavioural research in accounting Ch. 10 Tomasz Zygmański, The Selected Problems of Behavioral Accounting: The Issue of Intellectual Capital, Neuroeconomic and Behavioral Aspects of Decision Making, 10.1007/978-3-319-62938- 4_14, (215-224), (2017). Tutorial exercises 9 11 Jan Ethics in accounting Ch. 8 https://www.cpaaustralia.com.au/profe ssional-resources/ethics APES 110 Tutorial exercises 10 18 Jan Influence of corporate governance and culture on accounting Ch. 8 https://www.asx.com.au/documents/as x-compliance/cgc-principles-and- recommendations-3rd-edn.pdf Tutorial exercises Group assignment due 11 25 Jan International accounting and global accounting trends Ch.5 http://integratedreporting.org https://store.charteredaccountantsanz. com/Introduction-to-Integrated- Reporting-2019 Tutorial exercises Group presentations 12 01 Feb Revision Tutorial exercises