22754 Corporate Accounting Spring 2024R

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22754 Corporate Accounting

Subject description

This subject examines the institutional and legal framework of modern Australian financial accounting. The main topics include accounting for investments in subsidiaries (consolidation accounting), investments in associates (equity accounting) and investments in joint arrangements (proportional consolidation). The subject also examines the disclosure practices of corporate groups such as segment reporting, related party disclosures, and Environmental, Social and Governance (ESG) reporting. This is an intermediate level financial accounting subject.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1. apply high level of technical skills to implement national and international accounting standards that determine accounting and re-porting framework for economic entities, including, subsidiaries, associates, and joint arrangements

2. demonstrate understanding of the disclosures in relation to operating segments, related parties transaction and ESG performance

3. critically evaluate the conceptual basis of accounting standards and extend accounting and reporting techniques to non-routine circumstances

4. explain and apply the principles of ethics in financial reporting and disclosure practices of corporate groups

Course intended learning outcomes (CILOs)

This subject also contributes specifically to the following program learning objectives:

.   Evaluate and apply principles of social responsibility, cultural diversity, and knowledge of Indigenous values, to decisions in professional accounting practice (3.1)

Contribution to the development of graduate attributes

This subject is concerned with external reporting by companies and the theoretical and practical issues relating to the formation of those reports. It emphasises the conceptual issues relating to the application of particular accounting techniques. This subject is a specialist subject addressing professional issues about accounting and disclosure by corporations. Its aim is to impart the ability to prepare company and consolidated financial statements, and, as a consequence, understand and analyse the published results of corporate combinations.

This subject contributes to the development of the following graduate attribute(s):

. Intellectual rigour and innovative problem solving . Social responsibility and cultural awareness

This subject also contributes specifically to develop the following Program Learning Objective(s) for the Master of Professional Accounting:

. Critically analyse, adapt, and apply accounting practices to address complex business problems (1.1)

Teaching and learning strategies

Corporate Accounting is taught using a mix of face-to-face teaching, online resources and self-directed study.

Lectures: The first 1.5 hours are dedicated to the lecture. Lectures are designed to introduce the technical and

theoretical aspects of the subject. Lectures cannot cover the entire course content in-depth but provide an overview of

each topic and explain more difficult concepts using practical examples and demonstration questions. Lecture notes are available on the learning management system. You are expected to add your own additional notes and

explanations. It is recommended that students read the relevant textbook chapter/s prior to attending the scheduled lecture on that topic. This background reading is essential to setting the scene for the lecture.

Tutorials: In the second half of the class, students are expected to work in groups of five to solve in-class problems.

Tutorials provide students with the opportunity to review and discuss concepts and receive feedback. Students are

expected to contribute and to participate in group discussions and to ask questions. Pre-class preparation is required to solve the in-class problems.

Pre-class preparation: Students are expected to review prior week’s lectures notes, undertake the relevant readings, watch videos and complete the self-study exercises before attending class in order to successfully engage in in-class   exercises. The assigned weekly self-study questions and solutions are made available on the learning management system.

Discussion board: Students are encouraged to ask questions on the discussion board at any point during the semester.

Content (topics)

. Accounting for investments in subsidiaries . Accounting for investments in associates

. Accounting for investments in joint arrangements

.  Segment reporting

· Related party disclosure . Ethics and governance

. Environmental, Social and Governance reporting

Assessment

Students are expected to perfrom satisfactorily in all assessment components. X grades are awarded in this subject

Assessment task 1: Quiz (Individual)*

Objective(s): This addresses subject learning objective(s): 1, 2 and 3

Weight: 25%

Task: Quizzes will be conducted in class in Weeks 5 and 7. The quizzes are designed to provide students 22754 Corporate Accounting Spring 2024R

with feedback on how they are progressing in the subject. Students will have the opportunity to take each quiz only once. Failure to take the quiz will result in a zero grade. There are no supplementary exams for a missed quiz.

Length: The quizzes are 50 minutes in length

Due: Weeks 5 and 7

Criteria: This assessment will be graded on the following criteria:

. demonstration of knowledge . accuracy of answers

. level of detail and the clarity of your answers

. accurate application of accounting standards and the Corporations Act

*Note: Late submission of the assessment task will not be marked and awarded a mark of zero.

Students who do not attend the faculty based quiz will have the weighting of that assessment added to the final examination conditional on the students submitting, receiving approval and complying

with the requirements of special consideration in accordance with the UTS rules. If the composite mark for the final exam totals more than 50 percent and the student is in the final subject of their  degree, the UTS rules on borderline result (range of 45-49) shall apply whereby students will be

allowed to undertake a supplementary final examination. Where a student completes and passes a supplementary examination, the maximum mark awarded for the subject will be 50 Pass.

Further There is no alternative quiz for this subject. information:

Assessment task 2: Assignment (Group)

Objective(s): This addresses subject learning objective(s):

3 and 4

Weight: 25%

Task: Students are asked to undertake a collaborative assignment in groups of five and present their

findings in a written report. This assignment is practice-based requiring students to conduct research  and critically analyse real-world corporate transactions on accounting issues related to investments in other entities. The topic of the assignment is available on Canvas.

Failure to contribute to and participate in a component of the group assignment will result in a zero grade for that component of the assignment.

Each group prepares a written report which is not to exceed 10 typed (1.5 spaced and font size 12) A4 pages, including tables and charts. References, footnotes, appendices, etc., are not included in  the 10-page limit. Marks will be deducted for going over this limit.

Length: 10 typed A4 pages (1.5 spaced and font size 12).

Due: The written report of the assignment is due on 28 October 2024 at 10am

Criteria: This assessment will be graded on the following criteria:

. Depth of understanding of the key concepts that may influence various choices during a merger and acquisition.

. Depth and scope of the analysis and evaluation.

. Validity of conclusions and recommendations supported by evidence and comparison with peers. . Presentation and readability of written report.

A very detailed marking rubric is provided on Canvas in the group assignment document.

Each group will have to submit a soft copy of their assignment through Turnitin (via the Canvas link) to generate a full report including the SIMILARITY INDEX. Only one of the students in the group

should submit it online using their student number.

Evaluation of this assessment is based on (1) quality of analysis and synthesis -- understanding,

clarity, rigour, persuasiveness, strength of arguments, appropriate level of detail and effective use of   accounting information; (2) quality of organisation -- accuracy, logical ordering in the flow, appropriate introduction and conclusion; and (3) style. -- vocabulary and writing style (spelling, grammar, syntax, terminology), use of references, citation of sources. Formative feedback prior to formal submission

can be obtained from the lecturer. Feedback on this assessment, based on the above evaluation criteria, will be provided to students after marking.

Assessment task 3: Final Examination (Individual)

Intent: This subject contributes specifically to the following program learning objectives:

· use effective written communication skills appropriate for working at a senior level in the Accounting sector in both local and international settings

This assessment task is a compulsory component of the subject. A student must attain no less than 40% of the marks in this assessment to pass the subject irrespective of the subject’s total marks.

Objective(s): This addresses subject learning objective(s): 1, 2, 3 and 4

This addresses program learning objectives(s): 3.1

Weight: 50%

Task: The examination covers all the major theoretical and technical issues relating to the subject content.

A two-hour examination at the end of the session consisting of practical and theoretical questions,   covering all topics of the subject. This is a formal examination. No subject materials are allowed to be brought into the examination.

Length: 2hrs

Due: UTS Exam period

Criteria: This assessment will be graded on the following criteria:

. Accuracy of answers

· Level of detail and the clarity of answers

Further The exam will be CLOSED BOOK. Non-programmable calculators are allowed in the exam. Further information: information on the format of the exam will be provided in the last class of the session and on Canvas