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KING’S OWN INSTITUTE* Success in Higher Education ACC204 CORPORATE ACCOUNTING AND REPORTING T319 All information contained within this Subject Outline applies to all students enrolled in the trimester as indicated. 1. General Information 1.1 Administrative Details Associated HE Award(s) Duration Level Subject Coordinator B Bus (Accg); B Bus (Mgt & Finance) 1 trimester Level 2 Behnaz Ortakand
[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) and an elective subject for B Bus (Mgt & Fin). 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; BBus (Mgt & Finance) 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 On-campus 1.6 Pre-requisites ACC100 Introduction to Accounting and ACC101 Introduction to Financial Accounting and ACC201 Financial Accounting and Reporting 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. 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. ACC204 CORPORATE ACCOUNTING AND REPORTING T319 22/10/2019 16:32 PAGE 1 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 mailto:
[email protected] ACC204 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 This subject examines accounting issues relating to companies, accounting standards and the preparation and presentation of a company’s external financial reports. It enables students to understand and analyse the requirements of the Australian Accounting Standards Board and Corporations Law. Topics covered by students include financing company operations, income taxes, business combination, consolidation, functional currency, financial statements and joint ventures and associates. 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 gain 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: 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 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 others 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 ACC204 CORPORATE ACCOUNTING AND REPORTING T319 22/10/2019 16:32 PAGE 2 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 ACC204 2.3 Subject Learning Outcomes This is a Level 2 subject. Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject: Subject Learning Outcomes Contribution to Course Graduate Attributes a) Determine the key concepts in selected accounting standards relevant to external reporting b) Explain the use and implications of the principles underpinning the accounting standards examined c) Evaluate issues and problems relating to accounting for companies in accordance with some accounting standards AASB 3, AASB 9, AASB 10, AASB 12, AASB 101, AASB 112, AASB 121, AASB 127, AASB 128, AASB 131 and AASB 136 d) Apply appropriate problem solving strategies, processes and arguments based on the application of accounting standards. 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 as listed in Moodle 1 04 Nov Share capital and reserves Ch. 13 Tutorial Exercises 2 11 Nov Income taxes Ch. 12 AASB 112 Tutorial Exercises 3 18 Nov Business combinations Ch. 25 AASB 3,136 Tutorial Exercises 4 25 Nov Consolidation: controlled entities Ch. 26 AASB 3,10,12,127 Tutorial Exercises 5 02 Dec Consolidation: controlled entities -wholly owned entities Ch. 27 AASB 3,10,12 Tutorial Exercises 6 09 Dec Mid trimester exam Mid trimester exams 7 16 Dec Consolidation: intragroup transactions Ch. 28 AASB 3,10,12 Tutorial Exercises 22 Dec 2019 – 05 Jan 2020 Mid trimester break 8 06 Jan Consolidation: non-controlling interest Ch. 29 AASB 12 Tutorial Exercises 9 13 Jan Presentation of financial statements Ch. 16 AASB 101 Tutorial Exercises Deferred mid trimester exams for all subjects - see Section 2.6 below for more information 10 20 Jan Translation of foreign currency financial statements Ch. 24 AASB 121 Assignment Due Tutorial Exercises ACC204 CORPORATE ACCOUNTING AND REPORTING T319 22/10/2019 16:32 PAGE 3 OF 13 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Approved by KOI Academic Board for T3 2019 ACC204 11 27 Jan Associates and joint ventures Ch. 31 AASB 9,10,12,127, 128,131 Tutorial Exercises 12 03 Feb Revision lecture 13 10 Feb Study Review Week 14 17 Feb Final Exam Week Please see Exam Timetable for exam date, time and location 15 23 Feb Student Vacation begins Enrolments for T120 open 16 02 Mar Results Released 04 Mar 2020 Certification of Grades 07 Mar 2020 T120 begins 09 Mar 2020 1 09 Mar Week 1 of classes for T120 Friday 06 Mar 2020 – Review of Grade Day for T319 – see Sections 2.6 and 3.6 below for more information. 2.5 Public Holiday Amendments Please note: KOI is closed on all scheduled NSW Public Holidays. T319 has one (1) public holiday (Australia Day) that occurs during classes this trimester. Classes scheduled for this public holiday (Calendar Class Dates) will be rescheduled as per the table below. This applies to all subjects taught in T319. Please see the table below and adjust your class timing as required. Please make sure you have arrangements in place to attend the rescheduled classes if applicable to your T319 enrolment. Classes will be conducted at the same time and in the same location as your normally scheduled class except these classes will be held on the date shown below. Calendar Class Date Rescheduled Class Date Monday 27 January 2020 (Week 11) Monday 10 February 2020 (Week 13) (Study Review Week) 2.6 Review of Grade, Deferred Exams & Supplementary Exams/Assessments Review of Grade: There may be instances when you believe that your final grade in a subject does not accurately reflect your performance against the subject criteria. Section 8 of the Assessment and Assessment Appeals Policy (www.koi