ACCT2542 Corporate Financial Reporting and Analysis - 2022

Subject Code
ACCT2542
Study Level
Undergraduate
Commencing Term
Term 2
Total Units of Credit (UOC)
6
Delivery Mode
On Campus and Online
School
Accounting Auditing & Tax
The course outline is not available for current term. To view outlines from other years and/or terms, visit the archives .

1. Course Details

Summary of Course

This intermediate financial accounting course is intended for students who will be involved in the preparation or use of corporate financial reports, whether as accountants, financial executives, auditors, financial analysts, actuaries, or legal advisors. This course builds on the foundation laid in COMM 1140 and ACCT2511 and covers financial reporting on, and analysis of, more complex business transactions, events, and structures. Topics include accounting for various types of equity investments such as subsidiaries and associates, tax effect accounting, disclosure, and understanding the regulatory environment in which financial statements are prepared.

Teaching Times and Locations

Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations.

View course timetable

Course Policies & Support

Course Aims and Relationship to Other Courses

This course requires the study of generally accepted accounting practices. We educate students in the preparation of external financial reporting, so students develop an understanding of how to prepare financial statements and notes to the statements for listed public companies. This course has three high-level aims.

The first aim is to provide students with the concepts and experiences necessary for them to understand the preparation and use of company financial statements in their future careers, whether as financial accountants, company executives, taxation officers, auditors, financial analysts, or actuaries, or legal advisors or academics.

The second aim is to instill in students the way of thinking and the practice of the corporate financial accountant through a structured approach to examining accounting requirements and applying those requirements to problem-solving. It is expected that students will develop their technical financial accounting knowledge through course training and individual practice.

The third aim is to challenge students to think critically about corporate financial reporting by fostering an appreciation of both the rationale of financial accounting techniques and the issues that arise in their practical application.

2. Staff Contact Details

Position Title Name Email Location Phone Consultation Times
Lecturer-in-chargeDrRyan Zihang PengRoom 3059, Quadrangle Building - Ref E15
TBA
LecturerDrSander De GrooteRoom 3065, Quadrangle Building - Ref E15+61 2 9385 5813TBA

For contact outside of tutorial time, please use the contact details provided on Moodle. Staff members will NOT answer questions about course content through a chain of emails. The content for this course is technical and would be difficult to explain thoroughly by returning emails. Lecturers will be available for consultation at the specified times (no appointment needs to be made). If you require contact outside of consultation hours, please email the staff member using your UNSW email account or post your questions on Moodle Discussion Forum. Emails from other email providers (such as Hotmail, Gmail, Yahoo, 126, QQ, etc.) may not be answered. Please clearly identify yourself using both your student ID and your full name when sending an email to a staff member.

The policies regarding staff contact in the School of Accounting, Auditing and Taxation are as follows:

  • All questions regarding course administration should be directed to the Lecture-in-charge.
  • The full-time staff will be available for consultation starting from Weeks 2 to 10 and STUVAC period.
  • Consultation hours will be advised on the course Moodle page in a consolidated timetable.
  • Students are encouraged to consult with staff during online consultation sessions. Consultation will not be provided via email or phone.
  • Consultation times during STUVAC period will likely vary to the regular consultation during Term and be posted on the course webpage later in the Term.

While emails to staff should be a rare occurrence as noted above, in instances where it is warranted, please make sure that:

  • You use your UNSW email address when corresponding with the teaching staff on this course. Emails from other addresses (such as Hotmail, Gmail, Yahoo, 126, QQ, etc.) are not accepted and will not be replied to.
  • You must use appropriate communication level with staff, emails and discussion forum posts that use short-hand and “Texting” language are not acceptable, and communication must be in English. If your email cannot be understood then staff will not reply.
  • You must identify yourself by your full name, student ID and tutorial day and time.
  • Please be aware that Staff will not necessarily reply to students to inform them if their emails are non-compliant.
  • Full-time teaching staff only answer emails during regular working hours of Monday to Friday 9am-5pm. Tutoring staff often have other jobs and require 48 hours within regular business office hours to reply to emails.

Complaints about the assessment and other aspects of this course should be directed in the first instance to the Lecturer-in-Charge (or Course Convenor) and if still unsatisfied with the response received then you are directed to contact the School of Accounting, Auditing & Taxation Grievance Officer, details available here: https://www.unsw.edu.au/business/our-schools/accounting-auditing-taxation/contact-us

3. Learning and Teaching Activities

Use of your Webcam and Digital Devices: If you enrol in an online class, or the online stream of a hybrid class, teaching and associated activities will be conducted using Teams, Zoom, or similar a technology. Using a webcam is optional, but highly encouraged, as this will facilitate interaction with your peers and instructors. If you are worried about your personal space being observed during a class, we encourage you to blur your background or make use of a virtual background. Please contact the Lecturer-in-Charge if you have any questions or concerns.

Some courses may involve undertaking online exams for which your own computer or digital devices will be required. Monitoring of online examinations will be conducted directly by University staff and is bound by the University's privacy and security requirements. Any data collected will be handled accordance with UNSW policies and standards for data governance. For more information on how the University manages personal information please refer to the UNSW Student Privacy Statement and the UNSW Privacy Policy.

Approach to Learning and Teaching in the Course

​Successful study of ACCT2542 requires your engagement with the teaching and learning activities. Engagement with all lecture and tutorial materials and activities and diligent completion of homework are key elements of this.

Learning Activities and Teaching Strategies

1. Student Engagement

Learning occurs via lecture and tutorial materials where instructors explain and actively demonstrate accounting techniques. Students who miss this instruction miss a crucial learning activity.

Students learn independently through reading the textbook, completing technical assignments, attempting tutorial questions, engaging in course discussions with peers, and reviewing course materials. Learning also occurs in self-study groups, and through consultation with teaching staff.

2. Lectures

Lectures explain concepts critical to the core topics. Lecturers demonstrate how the techniques of corporate financial reporting are applied by working through examples.

All lecture notes are available on Moodle but they are NOT a complete substitute for assigned textbook readings.

3. Tutorials

Tutorials provide students with a regular small group forum to interact with teaching staff to discuss the issues encountered when attempting the tutorial questions. Tutors will work through the tutorial questions relying on the assistance of students when doing so.

4. Self Study

Self-study is a key element of the learning design of the course. The benefits of lectures and tutorials are fully realized when students prepare in advance. The preparation for each should include at minimum the following:

  1. a quick first read of the textbook chapters

  2. review of the lecture slides and recordings

  3. a detailed second read of the textbook chapters

  4. completion of tutorial questions and other practice questions when provided

There are two learning approaches here.

Firstly, you learn inductively or learn by example when reviewing answers to questions. The observed solution is the starting point to learning inductively. Students may use the solution to establish or deduce what techniques have been followed to generate the answer.

Secondly, you learn deductively when you attempt tutorial and assessment questions without reference to the answer. In this case, it is necessary to draw on the logic needed or the techniques or processes that are necessary to generate an answer. What are you trying to achieve? What information is needed to produce the answer? What should be done first, second, etc. Learning deductively is very important to your development as an accounting professional because most of the problems encountered in this business do not already have the answers provided. Deductive thinking is important because this is what students must do in the final exam, i.e. read and interpret questions and use the information provided to prepare written answers.

Making mistakes and getting stuck is a natural part of the learning process in accounting. When you can’t understand a solution or are unable to complete a question without the solution, timely action is needed to clear the roadblock in your understanding. Consult other students, raise your difficulties during tutorials and, if still unclear, consult teachers during their consultation hours. Alternatively, a Discussion Board is provided on Moodle where you can engage with your peers to solve problems.

5. Course Resources

1. Prescribed Textbook

Title: Financial Accounting (Ninth Edition) in Australia

Author:Craig Deegan

ISBN: 978-1743767672

Publisher: McGraw-Hill Education

The textbook is available for purchase from the UNSW Bookshop or the etext can be purchased online using the link in the course's Moodle site.

2. Moodle eLearning Support

A course website will be maintained on Moodle.  You must be enrolled in the course to access the website. The website will contain announcements, lecture slides, assigned tutorial work for each week, homework solutions for each week and other independent study resources. To access the Moodle online support site, follow the links from www.elearning.unsw.edu.au to UNSW Moodle Support/Support for Students. For additional technical support, email: itservicecentre@unsw.edu.au; Phone: 02-9385-1333.

3. Useful Internet Websites

  1. www.aasb.gov.au (Australian Accounting Standards Board – all the AASB’s current pronouncements can be downloaded from this site along with pending standards based on IASB standards and Exposure Drafts of proposed standards and other documents)

  2. www.iasb.org.uk (International Accounting Standards Board – IASB standards can be downloaded from this site)

  3. www.iasplus.com (IAS Plus is a site providing news and commentary on international accounting standards – service of Deloitte Touche Tohmatsu)

  4. www.deloitte.com.au (provides model set of financial statements applying AIFRS).

  5. www.cpaaustralia.com.au (CPA Australia)

  6. www.asx.com.au (Australian Stock Exchange)

  7. www.asic.gov.au (Australian Securities and Investments Commission)

6. Course Evaluation & Development

Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey, which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

​Prior student feedback has informed how we structure delivery of course content across the term as well as informing the course assessment structure.

7. Course Schedule

Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit: https://student.unsw.edu.au/new-calendar-dates
Week Activity Topic Assessment/Other
Week 1: 30 MayLecture

Accounting for income tax

Week 2: 6 JuneLecture

Business Combinations

Week 3: 13 JuneLecture

Consolidation for wholly-owned subsidiaries-introduction

Week 4: 20 JuneLecture

Consolidation for wholly-owned subsidiaries-intragroup transactions

Assessment due 4 pm Friday:

Technical assignment 1 - Accounting for income tax

Week 5: 27 JuneLecture

Foreign currency translation

Week 6: 4 JulyIndependent study

Flexibility Week

Week 7: 11 JulyLecture

Consolidation for partially-owned subsidiaries-introduction

Assessment due 4 pm Friday:

Technical assignment 2 - Consolidation for wholly-owned subsidiaries

Week 8: 18 JulyLecture

Consolidation for partially-owned subsidiaries-intragroup transactions

Week 9: 25 JulyLecture

Accounting for associates/joint ventures

Week 10: 1 AugustLecture

Introduction to financial statement analytics

Assessment due 4 pm Friday:

Technical assignment 3 - Accounting for associates/joint ventures

8. Policies and Support

Information about UNSW Business School program learning outcomes, academic integrity, student responsibilities and student support services. For information regarding special consideration, supplementary exams and viewing final exam scripts, please go to the key policies and support page.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.


These PLOs relate to undergraduate and postgraduate coursework programs.  For PG Research PLOs, including Master of Pre-Doctoral Business Studies, please refer to the UNSW HDR Learning Outcomes

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Services team.





Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.



Student Responsibilities and Conduct

​Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance and Engagement

Your regular attendance and active engagement in all scheduled classes and online learning activities is expected in this course. Failure to attend / engage in assessment tasks that are integrated into learning activities (e.g. class discussion, presentations) will be reflected in the marks for these assessable activities. The Business School may refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g. tutorials, flipped classroom sessions, seminars, labs, etc.). If you are not able to regularly attend classes, you should consult the relevant Course Authority.

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.




Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Learning Support Tools
Business School provides support a wide range of free resources and services to help students in-class and out-of-class, as well as online. These include:

  • Academic Communication Essentials – A range of academic communication workshops, modules and resources to assist you in developing your academic communication skills.
  • Learning consultations – Meet learning consultants who have expertise in business studies, literacy, numeracy and statistics, writing, referencing, and researching at university level.
  • PASS classes – Study sessions facilitated by students who have previously and successfully completed the course.
  • Educational Resource Access Scheme – To support the inclusion and success of students from equity groups enrolled at UNSW Sydney in first year undergraduate Business programs.

The Nucleus - Business School Student Services team
The Nucleus Student Services team provides advice and direction on all aspects of enrolment and graduation. Level 2, Main Library, Kensington 02 8936 7005 / https://nucleus.unsw.edu.au/en/contact-us

Business School Equity, Diversity and Inclusion
The Business School Equity, Diversity and Inclusion Committee strives to ensure that every student is empowered to have equal access to education. The Business School provides a vibrant, safe, and equitable environment for education, research, and engagement that embraces diversity and treats all people with dignity and respect. BUSEDI@unsw.edu.au

UNSW Academic Skills
Resources and support – including workshops, individual consultations and a range of online resources – to help you develop and refine your academic skills. See their website for details.
academicskills@unsw.edu.au

Student Support Advisors
Student Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

International Student Support
The International Student Experience Unit (ISEU) is the first point of contact for international students. ISEU staff are always here to help with personalised advice and information about all aspects of university life and life in Australia.
Advisors can support you with your student visa, health and wellbeing, making friends, accommodation and academic performance.
International.student@unsw.edu.au
02 9385 4734

Equitable Learning Services
Equitable Learning Services (formerly Disability Support Services) is a free and confidential service that provides practical support to ensure that your health condition doesn't adversely affect your studies. Register with the service to receive educational adjustments.
Ground Floor, John Goodsell Building.
els@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9065 9444

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
02 9385 1333



Support for Studying Online

The Business School and UNSW provide a wide range of tools, support and advice to help students achieve their online learning goals. 

The UNSW Guide to Online Study page provides guidance for students on how to make the most of online study.

We recognise that completing quizzes and exams online can be challenging for a number of reasons, including the possibility of technical glitches or lack of reliable internet. We recommend you review the Online Exam Preparation Checklist of things to prepare when sitting an online exam.

ACCT2542