Unit Outline

This unit is a compulsory unit in the accounting major as part of the accredited program and expands the skill, knowledge and understanding students have gained in BFA201 Financial Accounting. It integrates the theory and practice of financial accounting in relation to combined business entities. Students will critically evaluate professional and ethical decision making while applying International Financial Reporting Standards to prepare consolidated accounts and group reports. The consideration of the issues and techniques in this unit enhances the skills students will need to perform effectively in the workplace as a financial accountant.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Integrate theoretical and technical accounting knowledge and skills for combined business entities.
2.	Analyse and apply theoretical frameworks to critically evaluate contemporary and emerging accounting issues for combined business entities.
3.	Communicate in a formal and professional manner, using both oral and written formats.

Alterations as a result of student feedback

To Be Determined.

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Invigilated Respondus Test	Week 7	25 %	LO1
Assessment Task 2:	Business Combinations Project	Week 10	35 %	LO2, LO3
Assessment Task 3:	Exam	Exam Period	40 %	LO1, LO2, LO3

Assessment details

Assessment Task 1: Invigilated Respondus Test

Task Description:

This test will be invigilated with the Respondus Lockdown browser. Information about downloading the browser will be provided on MyLO.
This test, which covers practical, theoretical and some multiple-choice questions will cover topics from Weeks 1 to 5.
The test should be approached with the same level of rigor and preparation as the final exam. Further information will be provided in the week prior to the test.
If you miss the mid-term test, the weighting of the test will not be added to the exam. A default of zero will be recorded if you miss the test. Students with ‘special circumstances’ should contact the Unit Coordinator with supporting documentation provided.

Task Length:

Please refer to MyLO for further details

Due Date:

Week 7

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Interpret and explain the nature of accounting for combined business entities within an IFRS environment.	LO1
2	Exercise judgement to solve routine and complex accounting problems for combined business entities.	LO1
3	Explain and prepare consolidation worksheet entries.	LO1
4	Prepare financial statements, applying IFRS to combined business entities.	LO1

Assessment Task 2: Business Combinations Project

Task Description:

This project will have both a team and an individual component and will be aligned to business combinations. It will involve both an oral presentation (dates to be advised) and written submission. It will involve reviewing academic journals, professional commentary and International Accounting Standards. This will also involve thinking about changing stakeholder expectations in addressing sustainability concerns, and how successfully such concerns are addressed. Full details will be provided during the semester.

Task Length:

To be advised

Due Date:

Week 10

Weight:

35 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Review and critically discuss a number of scholarly accounting journal articles identifying links to accounting issues for business combinations reflecting on alternate theoretical frameworks and application to IFRS.	LO2
2	Critically evaluate the application of IFRS in making informed professional and ethical judgements.	LO2
3	Apply a sustainability lens to identify contemporary and emerging accounting issues in the regulatory and voluntary reporting environment of combined business entities.	LO2
4	Locate, analyse and synthesise information from a number of professional and scholarly research sources.	LO3
5	Justify arguments and solutions to problems and issues with reference to professional accounting standards, principles and accounting research.	LO3
6	Engage in succinct oral discussions and provide written work to communicate and define arguments and solutions.	LO3
7	Use Harvard referencing and formal academic writing styles to communicate clearly, concisely and logically.	LO3
8	Use professional language and standards common to business professional and peers. This includes communicating in English clearly, concisely and logically, both orally and in writing.	LO3

Assessment Task 3: Exam

Task Description:

The exam will enable you to demonstrate your breadth and depth of understanding across all the unit material.

The exam will be invigilated with the Respondus Lockdown Browser.

An information sheet with details about the exam will be posted on MyLO.

Task Length:

3 hours

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Interpret and explain the nature of accounting for combined business entities within an IFRS environment.	LO1
2	Exercise judgement to solve routine and complex accounting problems for combined business entities.	LO1
3	Analyse and reflect on alternate theoretical frameworks including the application of a sustainability lens to identify contemporary and emerging accounting issues in the regulatory and voluntary reporting environment of combined business entities.	LO2
4	Critically evaluate issues/gaps identified in accounting research and propose a theoretical framework to explore issues related to combined entities.	LO2
5	Justify arguments and solutions to problems and issues with reference to professional accounting standards, principles and accounting research.	LO3
6	Use professional language and standards common to business professional and peers in writing.	LO3

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

The required textbook for this unit is Financial Reporting, 3rd Edition. You must have access to this resource prior to the start of the semester.

Loftus, J, Leo, K, Daniliuc, S, Boys, N, Luke, B, Ang, HN, Byrnes, K (2020) Financial Reporting 3rd edn, John Wiley & Sons, Milton, Qld.

The required resource is available in multiple formats and options:

• The e-text can be accessed for only $6.95 per month via Wiley Business Now.
• The printed textbook and e-text can be purchased for $80 from WileyDirect: https://www.wileydirect.com.au/buy/financial-reporting-3rd-edition/. Your Wiley Business Now subscription can also be purchased here.
• The printed textbook can be purchased via campus bookstores or most online retailers (Zookal, Booktopia, Amazon etc.)
• If purchasing internationally, please search for your title on wiley.com and update your location in the upper right-hand corner.

NOTE: This latest edition of Loftus et al. (2020) has combined interactive online activities in the textbook (i.e. the E-Text with additional online resources). This rich digital resource brings financial reporting to life with media such as videos, case studies, interactives and revision materials embedded at the point of learning.

ELECTRONIC READING DEVICE : If you choose to purchase an e-book you will need to bring a copy with you to class on your preferred electronic reading device. The e-book will be available for you to download onto 4 different devices (e.g. smart phone, ipad, tablet, laptop, etc.) and any tags or highlights you use on one device will be automatically updated on the others.

Even if you purchase the print version of the textbook, it will be very useful to also bring with you an electronic device (with internet capabilities) to class, as there will be many times when you will need to download and access information.