ACCTING 7020MELB - Intermediate Financial Reporting (M)
Melbourne Campus - Semester 2 - 2024
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General Course Information
Course Details
Course Code ACCTING 7020MELB Course Intermediate Financial Reporting (M) Coordinating Unit Accounting Term Semester 2 Level Postgraduate Coursework Location/s Melbourne Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange N Prerequisites ACCTING 7019 and CORPFIN 7005 Incompatible ACCTING 7020AMELB, ACCTING 7020BMELB Restrictions Available only to University of Adelaide College Melbourne Campus students Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Wei Xu
Location: Office 13.29, Level 13, 10 Pulteney Street
Email: wei.xu01@adelaide.edu.auCourse Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1 Interpret financial reports based on concepts from the Accounting Conceptual Framework and Australian Accounting Standards. 2 Account for complex accounting transactions by choosing and applying relevant accounting standards. 3 To conduct practical research in the accounting discipline. University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1,2,3 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
1,2,3 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
3 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
1,2,3 Attribute 5: Intercultural and ethical competency
Graduates are responsible and effective global citizens whose personal values and practices are consistent with their roles as responsible members of society.
1,2,3 Attribute 6: Australian Aboriginal and Torres Strait Islander cultural competency
Graduates have an understanding of, and respect for, Australian Aboriginal and Torres Strait Islander values, culture and knowledge.
3 Attribute 7: Digital capabilities
Graduates are well prepared for living, learning and working in a digital society.
1,2,3 Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
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Learning Resources
Required Resources
Textbook
Financial Reporting, 4th Edition, Loftus et al. (2022) ISBN: 9780730396413
Accounting Standards
You will need access to accounting standards throughout the semester. These are available at no cost from the Australian Accounting Standards Board (AASB) Website: https://www.aasb.gov.au.
Study Guide
A study guide is provided on MyUni. This includes lecture notes, worked examples, and tutorial activities.Recommended Resources
Recommended Additional Textbooks
Issues in Financial Accounting by Scott Henderson, Graham Peirson, Kathy Herbohn, Tracy Artiach, Bryan Howieson. Published 2017 by Pearson. ISBN 9781488611643
This is a good text that you may find useful. It covers a lot of course material and is available in the University library. If you have trouble locating them, please ask the Help Desk.
You should access the most recent version of accounting standards from the AASB website. Printing the required standards from the AASB website is a convenient resource. Alternatively, you may purchase the Financial Reporting Handbook published by Wiley. Note that accounting standards will not be allowed in the examination room.
For some sections of the course, additional material is made available on MyUni. Due to the ever-changing nature of accounting standards, please ensure you are reading the most current edition of any text.Online Learning
MyUni
Additional materials are on MyUni, which either elaborate on or supplement items in the textbook.
Apart from lectures, MyUni is the main point of contact with students. Please check MyUni regularly for announcements.
Sample Exams
Many past exam questions with suggested solutions are available on MyUni. These are to give you extra practice questions. It is highly recommended that you complete them in your own time under the exam conditions and then use the suggested solutions to check your progress. Please note that they only indicate the type of exam questions you may encounter, and the exam questions for this semester may differ in structure or coverage. You may have access to the old exams, which are no longer relevant. Please focus on what is provided for the semester.
Useful Websites
Changes in accounting standards and other developments in accounting practice occur very frequently. Links to several useful websites have been placed on the MyUni site for this course. -
Learning & Teaching Activities
Learning & Teaching Modes
Structure and Expectations
Each seminar seeks to offer a well-rounded experience, merging the informative depth of lectures with the practical benefits of activities and discussions. In preparation for seminars, students are encouraged to read the relevant material and attempt the pre-seminar quiz. This ensures that the seminar time is utilised effectively, allowing for summarisation of topics, explanation of concepts, emphasis on key points, and hands-on work with examples. Building on this foundation, the seminars encourage active engagement, fostering proactive thought, critical inquiries, open-ended discussions, and timely, constructive feedback.
Active Participation
Master’s level education emphasises active learning, where students play a pivotal role in shaping the quality of their educational journey. We expect all participants to:
• Collaborate effectively in group settings.
• Initiate and lead group discussions on various topics.
• Ensure a balanced level of participation, allowing all members to contribute.
• Present arguments coherently, drawing from accounting standards, readings, and research.
• Stay open to and explore alternative viewpoints.
• Extend their knowledge by referring to topical external materials, such as recent articles.
• Assist peers in grasping the subject matter.
• Be punctual, respectful, and sensitive to the needs and feelings of fellow participants.
Understanding that there might not always be a single "right" answer, students should aim for responses grounded in relevant accounting principles and concepts.
Prior Preparation
The success of this course hinges on proactive preparation. Without prior preparation, grasping the nuances during the seminar might prove challenging. Although not all seminar questions will have definitive solutions, given the fluid nature of some accounting topics, our teaching staff is eager to assist, provided students have made a genuine written attempt beforehand.
Embracing this seminar mode, we aim to foster an environment where learning is both deep and collaborative. Your active participation and commitment will be instrumental in making this transition seamless and fruitful.Workload
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The information below is provided as a guide to assist students in engaging appropriately with the course requirements.
The University expects full-time students (i.e. those taking 12 units per semester) to devote a total of 48 hours per week to their studies. This means that, for this course, you are expected to commit approximately 9 hours to private study in addition to 3 hours of in-class learning activities.
Active participation in class discussions is strongly encouraged.Learning Activities Summary
Topic 1: Overview of the Course, Accounting Regulation and the Conceptual Framework
Topic 2: Fair Value Measurement
Topic 3: PPE
Topic 4: Intangibles Assets
Topic 5: Impairment of Assets
Topic 6: Provisions, Contingent Liabilities and Contingent Assets
Topic 7: Leases
Topic 8: Income Tax
Topic 9: Revenue from the contracts with customers
Topic 10: Application of Accounting Theory
Topic 11: Exam overview and revision
Students should refer to the associated material on MyUni for a comprehensive summary of topics and readings. -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
Assessment Task
Task Type
Weighting
Learning Outcomes
Weekly quizzes
Individual
10%
1,2
Mid-Semester Test
Individual
20%
1,2
Research Project
Group
20%
3
Final Exam
Individual
50%
1,2
Assessment Related Requirements
A class roll will be maintained for each tutorial group. Students are recommended to attend and participate in all tutorials.
To gain a pass for this course, a mark of at least 50% must be obtained on the examination as well as a total of at least 50% overall. Students not achieving the minimum exam mark will be awarded no more than 49.
A student who fails any of the assessment items will NOT be permitted to resubmit that item for remarking.
Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process and reflect your competence in some types of communications skills. Marks may be deducted in the final examination because of poor hand-writing.
In this course, the use of calculators incapable of storing text is permitted in the final examination in this course.Assessment Detail
Quizzes - 10 %
Weekly online assessable items are designed to help you learn. The quizzes incentivize you to read the chapters and other related materials before attending the seminars. Weekly quizzes have three levels, i.e., Level A, B, and C. These quizzes are set at different difficulty levels. Level A quizzes are utilised for assessment, while Level B and C quizzes provide more practice. Level B quizzes will be discussed in the seminars.
Mid-semester test - 20 %
There will be a mid-semester test. It is designed to help you assess how you are progressing along the way so you can adjust your learning strategy accordingly, if necessary.
Research Project – 20%
The research project is designed to allow you to enhance your communication, collaboration, innovation, and technology skills (all essential graduate attributes) in addition to your accounting knowledge. Further details will be provided in a separate handout.
Final Exam – 50%
There will be a three-hour exam at the end of the semester. All topics in the course are potentially examinable. The exam is ‘closed-book', and you will be permitted to take in a calculator. You may NOT take in a copy of the Accounting Standards.Submission
No information currently available.
Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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Student Support
- Academic Integrity for Students
- Academic Support with Maths
- Academic Support with writing and study skills
- Careers Services
- International Student Support
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
- YouX Student Care - Advocacy, confidential counselling, welfare support and advice
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Policies & Guidelines
This section contains links to relevant assessment-related policies and guidelines - all university policies.
- Academic Credit Arrangements Policy
- Academic Integrity Policy
- Academic Progress by Coursework Students Policy
- Assessment for Coursework Programs Policy
- Copyright Compliance Policy
- Coursework Academic Programs Policy
- Elder Conservatorium of Music Noise Management Plan
- Intellectual Property Policy
- IT Acceptable Use and Security Policy
- Modified Arrangements for Coursework Assessment Policy
- Reasonable Adjustments to Learning, Teaching & Assessment for Students with a Disability Policy
- Student Experience of Learning and Teaching Policy
- Student Grievance Resolution Process
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Fraud Awareness
Students are reminded that in order to maintain the academic integrity of all programs and courses, the university has a zero-tolerance approach to students offering money or significant value goods or services to any staff member who is involved in their teaching or assessment. Students offering lecturers or tutors or professional staff anything more than a small token of appreciation is totally unacceptable, in any circumstances. Staff members are obliged to report all such incidents to their supervisor/manager, who will refer them for action under the university's student’s disciplinary procedures.
The University of Adelaide is committed to regular reviews of the courses and programs it offers to students. The University of Adelaide therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.
