Topic: This assignment covers the in-depth theoretical concepts with some practical accounting task application based on the topics from the subject. Task Details: This assignment requires a consideration of accounting theory concepts with critical analysis with application to General Purpose Financial Reporting by corporations. Students are required to prepare a comprehensive report directed to an Australian ASX Top 100 listed corporation detailing a critical analysis of the effectiveness of the corporation to meet the obligations of the conceptual framework of accounting.
KING’S OWN INSTITUTE* Success in Higher Education ACC706 ACCOUNTING THEORY AND ISSUES T218 13/07/2018 16:50 PAGE 1 OF 16 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A ACC706 ACCOUNTING THEORY AND ISSUES T218 All information contained within this Subject Outline applies to all students enrolled in the trimester as indicated. 1. General Information 1.1 Administrative Details Associated HE Award(s) Duration Level Subject Coordinator Master of Accounting Master of Professional Accounting 1 trimester Postgraduate Dr Joane Jonathan
[email protected] P: 92833583 (Ext.156) L: Level 1, 545 Kent St. Consultation: via Moodle or by appointment 1.2 Core / Elective This is a core subject for the above courses. 1.3 Subject Weighting Indicated below is the weighting of this subject and the total course points. Subject Credit Points Total Course Credit Points 4 MAcc 48; MPA 64 1.4 Student Workload Indicated below is the expected student workload per week for this subject No. timetabled hours/week* No. personal study hours/week** Total workload hours/week*** 4 hours/week (2 hour Lecture + 2 hour Tutorial) 6 hours/week 10 hours/week * Total time spent per week at lectures and tutorials ** Total time students are expected to spend per week in studying, completing assignments, etc. *** Combination of timetable hours and personal study. 1.5 Mode of Delivery On-campus 1.6 Pre-requisites ACC700 Principles of Accounting, ACC701 Financial Accounting AND ACC705 Corporate Accounting and Reporting. 1.7 General Study and Resource Requirements o Students are expected to attend classes with the weekly worksheets and subject support material provided in Moodle. Students should read this material before coming to class to improve their ability to participate in the weekly activities. o Students will require access to the internet and their KOI email and should have basic skills in word processing software such as MS Word, spreadsheet software such as MS Excel and visual presentation software such as MS PowerPoint. o Computers are available for student use in the Library. However these are in demand at peak times and tutorial classes may have priority use. You should therefore plan well in advance to utilise these resources. If you have your own computer, it should have internet access and mailto:
[email protected] ACC706 ACC706 ACCOUNTING THEORY AND ISSUES T218 13/07/2018 16:50 PAGE 2 OF 16 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A relevant software installed. Students are encouraged to make use of the campus Library for reference materials. Resource requirements specific to this subject: Students should have a non-programmable calculator – applications in smart phones will not be sufficient to perform the required calculations in class. Students will also need access to a computer and the internet for research purposes. 2. Academic Details 2.1 Overview of the Subject This subject engages students to develop a deeper appreciation of the function of accounting in today’s complex business environment. Students will be introduced to the role of theory in the development, application and regulation of accounting. The subject builds on students' technical skills and their foundational knowledge of accounting practice. Topics include theory development in accounting, normative accounting theories, positive accounting theories, traditional approaches to the formulation of accounting, standard setting and institutional arrangements, ethics in accounting, social and environmental accounting issues, and professional judgement in accounting. 2.2 Graduate Attributes for Postgraduate Courses Graduates of Postgraduate courses from King’s Own Institute will gain the graduate attributes expected from successful completion of a Master’s degree under the Australian Qualifications Framework (2 nd edition, January 2013). Graduates at this level will be able to apply an advanced body of knowledge in a range of contexts for professional practice or scholarship and as a pathway for further learning. King’s Own Institute’s key generic graduate attributes for a master’s level degree are summarised below: Across the course, these skills are developed progressively at three levels: o Level 1 Foundation – Students learn the skills, theories and techniques of the subject and apply them in stand-alone contexts KOI Master’s Degree Graduate Attributes Detailed Description Knowledge Current, comprehensive and coherent knowledge, including recent developments and applied research methods Critical Thinking Critical thinking skills to identify and analyse current theories and developments and emerging trends in professional practice Communication Communication and technical skills to analyse and theorise, contribute to professional practice or scholarship, and present ideas to a variety of audiences Research and information Literacy Cognitive and technical skills to access and evaluate information resources, justify research approaches and interpret theoretical propositions Creative problem Solving Skills Cognitive, technical and creative skills to investigate, analyse and synthesise complex information, concepts and theories, solve complex problems and apply established theories to situations in professional practice Ethical and Cultural Sensitivity Appreciation and accountability for ethical principles, cultural sensitivity and social responsibility, both personally and professionally Leadership and Strategy Initiative, leadership skills and ability to work professionally and collaboratively to achieve team objectives across a range of team roles Expertise in strategic thinking, developing and implementing business plans and decision making under uncertainty Professional Skills High level personal autonomy, judgement, decision-making and accountability required to begin professional practice ACC706 ACC706 ACCOUNTING THEORY AND ISSUES T218 13/07/2018 16:50 PAGE 3 OF 16 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A o Level 2 Intermediate – Students further develop skills, theories and techniques of the subject and apply them in more complex contexts, beginning to integrate the application with other subjects. o Level 3 Advanced – Students have a demonstrated ability to plan, research and apply the skills, theories and techniques of the subject in complex situations, integrating the subject content with a range of other subject disciplines within the context of the course. 2.3 Subject Learning Outcomes Listed below, are key knowledge and skills students are expected to attain by successfully completing this subject: Subject Learning Outcomes Contribution to Course Graduate Attributes a) Apply knowledge of accounting techniques, concepts, principles and theories to solve complex financial reporting problems. b) Describe the various theoretical and philosophical approaches to accounting c) Consolidate and extend knowledge of the components of financial statements through current accounting issues d) Assess the impact of social and environmental factors in accounting 2.4 Subject Content and Structure Below are details of the subject content and how it is structured, including specific topics covered in lectures and tutorials. Reading refers to the text unless otherwise indicated. Weekly Planner: Week (beginning) Topic covered in each week’s lecture Reading(s) Expected work 1 09 Jul Contemporary issues in accounting and accounting theory Rankin: Ch. 1 Tutorial exercises as listed in Moodle 2 16 Jul Theories in accounting Rankin: Ch. 5 Tutorial exercises 3 23 Jul Principles-based accounting: the conceptual framework and standard setting Rankin: Chs. 2 & 3 Tutorial exercises Formation of groups 4 30 Jul Accounting harmonisation Rankin: Ch. 12 Tutorial exercises 5 6 Aug Measurement and fair value accounting Rankin: Chs. 4 & 10 Tutorial exercises 6 13 Aug Capital market research and accounting Rankin: Ch. 8 Tutorial exercises Progress report on group project All Mid-trimester tests/quizzes/M/C tests exams 19 Aug 2018 – 26 Aug 2018 Mid trimester break 7 27 Aug Behavioural research in accounting Moodle readings Tutorial exercises Assignment one due 8 03 Sep Earnings management and quality Rankin: Ch. 9 Tutorial exercises 9 10 Sep Ethics in accounting Moodle readings Tutorial exercises Group report due ACC706 ACC706 ACCOUNTING THEORY AND ISSUES T218 13/07/2018 16:50 PAGE 4 OF 16 *AUSTRALIAN INSTITUTE OF BUSINESS AND MANAGEMENT PTY LTD © ABN: 72 132 629 979 CRICOS 03171A Deferred Mid Trimester Exams for all subjects - see Section 2.6 below for more information 10 17 Sep Voluntary disclosure: sustainability and environmental accounting, integrated reporting Rankin: Ch. 11 Moodle readings Tutorial exercises Presentation slides due Group presentations 11 24 Sep Corporate governance: culture and financial reporting Rankin: Ch. 7 Tutorial exercises Group presentations 12 01 Oct Revision Revision exercises 13 08 Oct Study Review Week 14 15 Oct Final Exam Week Please see Exam Timetable for exam date, time and location 15 22 Oct Student Vacation begins Enrolments for T318 open 16 29 Oct Results Released 30 Oct 2018 Certification of Grades 02 Nov 2018 T318 begins 05 Nov 2018 1 05 Nov Week 1 of classes for T318 Friday 02 Nov 2018 – Review of Grade Day for T218 – see Sections 2.6 and 3.6 below for more information. 2.5 Public Holiday Amendments Please note: KOI is closed on all scheduled NSW Public Holidays. T218 has one (1) public holiday (Labour Day) that occurs during classes this trimester. Classes scheduled for this public holiday (Calendar Class Dates) will be rescheduled as per the table below. This applies