KING’S OWN INSTITUTE*
Success in Higher Education
ACC705 CORPORATE ACCOUNTING AND REPORTING T119
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
Master of Accounting
Master of Professional Accounting
1 trimester Postgraduate Patricia Vakafua
XXXXXXXXXX
P: XXXXXXXXXXExt.156)
L: Level 1, 545 Kent St.
Consultation: via Moodle or by
appointment
1.2 Core/Elective
This is a core subject for the Master of Accounting and the Master of Professional Accounting.
1.3 Subject Weighting
Indicated below is the weighting of this subject and the total course points.
Subject Credit Points Total Course Credit Points
XXXXXXXXXX4 MAcc XXXXXXXXXXMPA 64
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 ACC700 Principles of Accounting AND FIN700 Financial Management
AND ACC701 Financial Accounting.
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 Li
ary 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 in class.
ACC705 CORPORATE ACCOUNTING AND REPORTING T119 06/03/2019 17:07 PAGE 1 OF 14
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A
Approved by KOI Academic Board for T1 2019
mailto: XXXXXXXXXX
ACC705
2. Academic Details
2.1 Overview of the Subject
This subject promotes an in-depth understanding of company accounting and accounting standards. It is
primarily concerned with the development of external financial reports by reporting entities in accordance
with the Corporations Act 2001 (Cth). It draws emphasis to financial accounting topics including company
financing, accounting for corporate income taxes, business combinations, consolidation accounting,
accounting for associates and joint ventures, accounting for joint a
angements and translation of foreign
cu
ency financial statements.
2.2 Graduate Attributes for Postgraduate Courses
Graduates of Postgraduate courses from King’s Own Institute will gain the graduate attributes expected
from successful completion of a Master’s degree under the Australian Qualifications Framework (2nd
edition, January XXXXXXXXXXGraduates at this level will be able to apply an advanced body of knowledge in a
ange 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 master’s level degree are summarised below:
Across the course, these skills are developed progressively at three levels:
o Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply them
in 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
ange of other subject disciplines within the context of the course.
KOI Master’s Degree
Graduate Attributes
Detailed Description
Knowledge Cu
ent, comprehensive and coherent knowledge, including recent developments and applied research methods
Critical Thinking Critical thinking skills to identify and analyse cu
ent theories and developments and emerging trends in professional practice
Communication
Communication and technical skills to analyse and theorise,
contribute to professional practice or scholarship, and present
ideas to a variety of audiences
Research and Information
Literacy
Cognitive and technical skills to access and evaluate information
esources, justify research approaches and interpret theoretical
propositions
Creative Problem Solving
Skills
Cognitive, technical and creative skills to investigate, analyse
and synthesise complex information, concepts and theories,
solve complex problems and apply established theories to
situations in professional practice
Ethical and Cultural
Sensitivity
Appreciation and accountability for ethical principles, cultural
sensitivity and social responsibility, both personally and
professionally
Leadership and Strategy
Initiative, leadership skills and ability to work professionally and
collaboratively to achieve team objectives across a range of team
oles
Expertise in strategic thinking, developing and implementing
usiness plans and decision making under uncertainty
Professional Skills
High level personal autonomy, judgement, decision-making and
accountability required to begin professional practice
ACC705 CORPORATE ACCOUNTING AND REPORTING T119 06/03/2019 17:07 PAGE 2 OF 14
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A
Approved by KOI Academic Board for T1 2019
ACC705
2.3 Subject Learning Outcomes
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) Describe the financial reporting requirements that apply to
Australian corporate groups
) Prepare consolidated financial statements for a corporate
group through application of the main provisions in
Australian Accounting Standards AASB 3, AASB 9,
AASB10, ASSB12, AASB101, AASB 112, AASAB 121,
AASB 127, AASB128, AASB 131 and AASB 136
c) Use appropriate problem solving strategies, processes
and arguments, locate research resources and critically
eview the research literature.
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:
DQ = Discussion
question
RQ = Review question
1
11 Mar Financing company operations. Leo: Ch. 2
Tutorial exercises as listed
in Moodle
2
18 Mar
Income taxes:
cu
ent tax, defe
ed tax
Loftus: Ch. 12
AASB 112 Tutorial exercises
3
25 Mar Business combinations
Leo: Ch. 3
AASB 3; AASB 136 Tutorial exercises
4
01 Apr Consolidation: controlled entities
Leo: Ch. 9
AASB 3,10, 12,127 Tutorial exercises
5
08 Apr
Consolidation: wholly owned
subsidiaries
Leo: Ch. 10
AASB 3,10, 12 Tutorial exercises
6
15 Apr
Mid trimester exam held in
lecture Mid trimester exams
21 Apr 2019
–
28 Apr 2019
Mid trimester
eak
7
29 Apr
Consolidation: intragroup
transactions
Leo: Ch. 11
AASB 3,10, 12 Tutorial exercises
8
06 May
Consolidation: non-controlling
interest
Leo: Ch. 12
AASB 3,10, 101 Tutorial exercises
9
13 May
Disclosure: presentation of
financial statements
Leo: Ch. 5
AASB101
Tutorial exercises
Defe
ed mid trimester
exams - see Section 2.6
elow for more information
10
20 May
Translation of financial statements
into a presentation cu
ency
Leo: Ch. 8
AASB 121 Tutorial exercises
11
27 May
Associates and joint ventures,
joint a
angements
Leo: Chs. 14 & 15
AASB 9,10,12,
127,128, 131
Tutorial exercises
ACC705 CORPORATE ACCOUNTING AND REPORTING T119 06/03/2019 17:07 PAGE 3 OF 14
*AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: XXXXXXXXXXCRICOS 03171A
Approved by KOI Academic Board for T1 2019
ACC705
12
03 Jun Review
Revision lecture
13
10 Jun Study Review Week
14
17 Jun Final Exam Week
Please see Exam Timetable for exam date, time
and location
15
24 Jun
Student Vacation begins
Enrolments for T219 open
16
01 Jul
Results Released 02 Jul 2019
Certification of Grades 05 Jul 2019
T219 begins 08 July 2019
1
08 Jul
Week 1 of classes for T119
Friday 05 July 2019 – Review of Grade Day for T119 – see Sections 2.6 and 3.6
elow for more information.
2.5 Public Holiday Amendments
Please note: KOI is closed on all scheduled NSW Public Holidays.
T119 has six (6) days of public holidays (Easter Holidays and the Queen’s Birthday) that occurs during
classes this trimester. Classes scheduled for these public holidays (Calendar Class Dates) will be
escheduled as per the table below. All other public holidays fall within the mid-trimester
eak period.
This applies to ALL subjects taught in T119.
Please see the table below and adjust your class timing as required. Please make sure you have
a
angements in place to attend the rescheduled classes if applicable to your T119 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