Outline

Overview

This unit of study prepares students to report on the performance and financial status of group entities where investees are either controlled, significantly influenced, or jointly controlled entities. Students consider where a consolidated financial report is necessary, before learning how to prepare a consolidated financial report, including the treatment of goodwill, intra-group transactions and non-controlling interests. Aspects of consolidated reports, such as equity accounting, segment disclosures, related party disclosures and foreign currency translation are also considered. The unit further explores reporting on complex financial instruments and current issues in accounting regulation and practice, as well as the politics of the standard-setting process. Students develop their written communication and critical-thinking skills through analysis of corporate group activities, with a focus on the role of professional judgement, related outputs and the potential impacts on users.

Unit details and rules

Unit code	ACCT3011
Academic unit	Accounting
Credit points	6
Prohibitions ?	None
Prerequisites ?	ACCT2011
Corequisites ?	None
Assumed knowledge ?	None
Available to study abroad and exchange students	Yes

Teaching staff

Coordinator	Louise Luff, louise.luff@sydney.edu.au

Type	Description	Weight	Due	Length
Supervised exam ?	Final exam Written questions	50%	Formal exam period	2 hours
Outcomes assessed:
Supervised test ?	Mid-session exam Written questions	20%	Week 07 Due date: 04 Apr 2023 at 12:00	1 hour
Outcomes assessed:
Assignment	Group assignment Written task	20%	Week 11 Due date: 08 May 2023 at 17:00 Closing date: 18 May 2023	1800 words
Outcomes assessed:
Presentation	Group presentation Oral group presentation	5%	Weekly	10 minutes
Outcomes assessed:
Participation	Tutorial participation Participation in tutorials	5%	Weekly	Weekly in tutorial
Outcomes assessed:
= hurdle task ? = group assignment ?

Assessment summary

Group assignment: Students are advised to refer to Canvas for further information.

Group presentation: Students are advised to refer to Canvas for further information.

Tutorial participation: Students are advised to refer to Canvas for further information.

Mid-semester exam: Students are advised to refer to Canvas for further information.

Final exam: Students are advised to refer to Canvas for further information. An assessment that is listed as HURDLE TASK means you must undertake the assessment and achieve a mark above a minimum standard. Students who fail to achieve this minimum standard in this assessment, even when their aggregate mark for the entire unit is above 50%, will be given a Fail grade for the unit. As a result the student's academic transcript will show a fail grade and the actual mark achieved if between 0-49 and a fail grade and a capped moderated mark of 49 for all other marks. The hurdle mark for this assessment is 45%.

Each assessment has different parts that cover several aspects of the unit and several ULOs

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name	Mark range	Description
High distinction	85 - 100	Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Distinction	75 - 84	Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Credit	65 - 74	Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Pass	50 - 64	Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school.
Fail	0 - 49	When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see sydney.edu.au/students/guide-to-grades.

For more information see guide to grades.

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

Deduction of 5% of the maximum mark for each calendar day after the due date.
After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

Learning support

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Weekly schedule

WK	Topic	Learning activity
Week 01	1. Introduction to the unit; 2. Consolidation and the concept of control	Lecture (2 hr)
Week 02	Principles of consolidation and the consolidation process	Lecture and tutorial (3 hr)
Week 03	Fair value adjustments and tax effect accounting	Lecture and tutorial (3 hr)
Week 04	Intragroup transactions (borrowing and inventory)	Lecture and tutorial (3 hr)
Week 05	Intragroup transactions (non-current assets)	Lecture and tutorial (3 hr)
Week 06	Partly owned subsidiaries: non-controlling interest	Lecture and tutorial (3 hr)
Week 07	Accounting for associates and joint ventures - the equity method	Lecture and tutorial (3 hr)
Week 08	Segments and related party disclosures	Lecture and tutorial (3 hr)
Week 09	Joint operations and foreign currency translation	Lecture and tutorial (3 hr)
Week 10	Financial instruments and hedge accounting	Lecture and tutorial (3 hr)
Week 11	Issues in consolidation	Lecture and tutorial (3 hr)
Week 12	Accounting standard setting process	Lecture and tutorial (3 hr)
Week 13	Revision	Lecture and tutorial (3 hr)

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Learning outcomes

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

Outcomes
Graduate qualities

At the completion of this unit, you should be able to:

LO1. apply, analyse, and evaluate the major methods of accounting for business combinations (including consolidation accounting, accounting for associate companies, and accounting for assets held as available for sale financial assets), and other accounting standards learnt in this unit, also explain some of the key disclosure requirements for supplementing core financial statements, explain standard setting in the international arena, and discuss non-financial developments in external reporting
LO2. analyse and critically evaluate the major methods of accounting learnt in this unit, and explore the extent to which accounting numbers alone can provide a true and fair view of an entity’s activities, and results to users
LO3. apply professional judgement, required by the major methods of accounting learnt in this unit, in order to determine appropriate accounting approaches for particular circumstances
LO4. develop verbal and written communication skills within the context of accounting issues
LO5. develop the ability to work successfully and fairly in a team, within the context of accounting issues
LO6. develop an ethical framework and social skills, within the context of accounting issues.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1	Depth of disciplinary expertise Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.
GQ2	Critical thinking and problem solving Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.
GQ3	Oral and written communication Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.
GQ4	Information and digital literacy Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.
GQ5	Inventiveness Generating novel ideas and solutions.
GQ6	Cultural competence Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.
GQ7	Interdisciplinary effectiveness Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.
GQ8	Integrated professional, ethical, and personal identity An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.
GQ9	Influence Engaging others in a process, idea or vision.

Outcome map

Learning outcomes	Graduate qualities
Learning outcomes

Responding to student feedback

This section outlines changes made to this unit following staff and student reviews.

Based on student feedback, tutorial length has been changed to 1.5 hours.

Additional information

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect

Current students

ACCT3011: Reporting on Business Groups

Semester 1, 2023 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Assessment summary

Assessment criteria

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

Media

Student links

About us

Connect