22754 Corporate Accounting
Subject description
This subject equips you with a comprehensive understanding of Australian financial accounting within a legal and institutional framework, focusing on how to account for investments in subsidiaries, associates and joint arrangements, alongside corporate disclosure practices like segment reporting and ESG reporting. You will develop critical skills in interpreting and applying accounting standards, enhancing your analytical and problem-solving abilities in a corporate context. Learning combines lectures to introduce key concepts with active participation in discussions and problem-solving in small groups.
Subject learning outcomes (SLOs)
1. Apply high level of technical skills to implement national and international accounting standards that determine accounting and reporting framework for economic entities, including, subsidiaries, associates, and joint arrangements
2. Demonstrate understanding of the disclosures in relation to operating segments, related parties transaction and ESG performance
3. Critically evaluate the conceptual basis of accounting standards and extend accounting and reporting techniques to non-routine circumstances
4. Explain and apply the principles of ethics in financial reporting and disclosure practices of corporate groups
Teaching and learning strategies
Corporate Accounting is taught using a mix of face-to-face teaching, online resources and self-directed study.
Lectures: The first 1.5 hours are dedicated to the lecture. Lectures are designed to introduce the technical and theoretical aspects of the subject. Lectures cannot cover the entire course content in-depth but provide an overview of each topic and explain more difficult concepts using practical examples and demonstration questions. Lecture notes are available on the learning management system. You are expected to add your own additional notes and explanations. It is recommended that students read the relevant textbook chapter/s prior to attending the scheduled lecture on that topic. This background reading is essential to setting the scene for the lecture.
Tutorials: In the second half of the class, students are expected to work in groups of five to solve in-class problems. Tutorials provide students with the opportunity to review and discuss concepts and receive feedback. Students are expected to contribute and to participate in group discussions and to ask questions. Pre-class preparation is required to solve the in-class problems.
Pre-class preparation: Students are expected to review prior week's lectures notes, undertake the relevant readings, watch videos and complete the self-study exercises before attending class in order to successfully engage in in-class exercises. The assigned weekly self-study questions and solutions are made available on the learning management system.
Discussion board: Students are encouraged to ask questions on the discussion board at any point during the semester.
Content (topics)
Accounting for investments in subsidiaries
Accounting for investments in associates
Accounting for investments in joint arrangements
Segment reporting
Related party disclosure
Ethics and governance
Environmental, Social and Governance reporting