ACCTING 7020 - Intermediate Financial Reporting (M)
North Terrace Campus - Semester 1 - 2024
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General Course Information
Course Details
Course Code ACCTING 7020 Course Intermediate Financial Reporting (M) Coordinating Unit Accounting Term Semester 1 Level Postgraduate Coursework Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Prerequisites ACCTING 7019 and CORPFIN 7005 Incompatible ACCTING 7020AMELB, ACCTING 7020BMELB Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Wei Xu
Course Timetable
The full timetable of all activities for this course can be accessed from .
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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
You will need access to accounting standards throughout the semester. These are available at no cost from the Australian Accounting Standards board (AASB) Website:
It is highly advisable that have access to the required standards during class so that you can highlight relevant paragraphs and refer to them often. You will need to have the relevant standard to prepare and participate in your tutorials.
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 much of the course material and are available in the University library. If you have trouble locating them please ask at the Help Desk.
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.
You should access the most recent version of acounting standards from the AASB website. Printing the required standards from the AASB website are a convenient resource. Alternatively, you may choose to purchase the Financial Reporting Handbook published by Wiley. Note that accounting standards will not be allowed in the examination room.
A Note on the Role of Reading in This Course
While some students may feel that reading can be something of a “chore”, reading is a very important mechanism for your learning because books and articles are a significant repository of our knowledge. Many of the topics are complex and so it is impossible to cover all you need to know in the lectures alone. In order to make your reading as productive as possible, you can both highlight relevant sections of text and concurrently take written notes of what you have read. As suggested by research studies, taking notes helps retaining better the information in one's memory. Also, you can take breaks when reading, or read only small sections at a time. This will reduce your level of fatigue and again tend to improve your understanding and memory of the material.
You can also plan ahead with your reading. Some weeks may have more reading than others and you will sometimes need to start reading earlier than usual if you are to cover everything. The Weekly Schedule (available on MyUni in the Course Information module) contains a listing of the major readings for each week to assist you in timing your reading activity.
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 then use the suggested solutions to check your progress. Please note that they are only indicative of the type of exam questions you may encounter, and the exam questions for this semester may be different 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
Seminar Mode
The 3-hour seminar mode is adopted for course delivery. This mode aims to integrate the strengths of our traditional lecture-tutorial system, providing a more cohesive and immersive learning experience.
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 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 lectures and tutorial time. These 9 hours per week is study outside of your regular classes.
Students in this course are expected to attend all lectures throughout the semester plus one tutorial class each week.
Please refer to Access Adelaide for your timetable and enrolment details: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 Due Weighting Learning Outcome On-line quizzes Individual TBC
10% 1, 2, 3 Mid-semester test Individual TBC
20% 1, 2 Research Project Group TBC 20% 1, 2,3 Final Exam Individual Exam Period 50% 1, 2 TOTAL 100% Assessment Related Requirements
To successfully complete this course, students must secure a minimum of 50% on the examination and an overall mark of at least 50%. Those who do not achieve the minimum exam mark will be capped at a score of 49.
No resubmissions will be allowed for any assessment item that a student fails.
Clear handwriting and coherent English expression are vital to the assessment criteria, reflecting proficiency in specific communication skills. Poor writing may lead to deductions in the final examination.
For the final examination in this course, students are allowed to use calculators that do not have text-storing capabilities.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 .
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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
- Library Services for Students
- LinkedIn Learning
- Student Life Counselling Support - Personal counselling for issues affecting study
- Students with a Disability - Alternative academic arrangements
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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
- 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鈥檚 disciplinary procedures.
The 成人大片 is committed to regular reviews of the courses and programs it offers to students. The 成人大片 therefore reserves the right to discontinue or vary programs and courses without notice. Please read the important information contained in the disclaimer.
