ACCT 3007 Corporate Accounting Systems

Credit Points 10

Legacy Code 200109

Coordinator Yongqing Li Opens in new window

Description This subject builds on the fundamental knowledge of accounting procedures gained in prerequisite subjects. It involves the comprehensive study of aspects of corporate accounting and reporting which are regulated by legislation, accounting standards, Australian Securities and Investment Commission and Stock Exchange requirements. This subject is designed to provide students with grounding in the regulation and practice of corporate reporting in Australia. The major orientation is towards the theoretical and practical aspects of corporate reporting, whilst at the same time exploring the reasons for regulatory disclosures.

School Business

Discipline Accounting

Student Contribution Band HECS Band 4 10cp

Check your fees via the Fees page.

Level Undergraduate Level 3 subject

Co-requisite(s) ACCT 2004 Intermediate Financial Accounting OR
ACCT 3003 Accounting Standards and Governance

Equivalent Subjects -

Learning Outcomes

On successful completion of this subject, students should be able to:

Apply Australian Accounting Standards, International Accounting Standards and other relevant standards insofar as they relate to reporting requirements of a reporting entity.
Prepare financial statements in accordance with Australian Accounting Standards and other relevant standards.
Apply appropriate disclosure requirements to annual reports.
Apply reporting requirements for company groups.
Discuss corporate accountability within the Conceptual Framework with specific reference to the topics covered in the subject.

Subject Content

Conceptual framework, corporate governance and professional bodies
Cash flow statement and disclosure requirements
Tax effect accounting (introduction and advanced concepts)
Consolidation and equity accounting (introduction, intragroup transactions and NCI)
Disclosure issues can include: after reporting date events, prior period errors, change in accounting estimates, related party transactions
6. Foreign currency transactions

Assessment

The following table summarises the standard assessment tasks for this subject. Please note this is a guide only. Assessment tasks are regularly updated, where there is a difference your Learning Guide takes precedence.

Type	Length	Percent	Threshold	Individual/Group Task	Mandatory
Portfolio	Semester long equivalent to 500 words	10	N	Individual	N
Applied Project	1250 words	20	N	Individual	N
Quiz	Two quizes, 1 hour per quiz	20	N	Individual	N
Final Exam	2 hours	50	Y	Individual	Y