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ACC5215 Corporate Accounting

Semester 1, 2014 External Toowoomba
Units : 1
Faculty or Section : Faculty of Business, Education, Law and Arts
School or Department : School of Commerce

Contents on this page


Examiner: Teruyo Omura
Moderator: Mark Vallely


Pre-requisite: ACC5202

Other requisites

Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at //


This course is part of the financial accounting stream of the Master of Professional Accounting program. The course assumes prior knowledge from the previous course ACC5202. The course expands on the knowledge from the previous course in that it specifically focuses on the accounting requirements/regulations of companies.


This course is designed to enable students to acquire basic skills of company accounting. Topics covered include the application of accounting entries for setting-up a company, alteration of capital; corporate governance; tax effect accounting; valuations and acquisitions of company assets (including entities); the presentation of accounts including consolidated financial statements for parent companies, (including foreign subsidiaries and associated companies); liquidations of companies; joint ventures; and equity accounting for associate companies.


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

  1. demonstrate the ability to interpret and apply the accounting standards relating to company regulations and operations, corporate governance for accountants, company income tax, business combinations, company consolidations, joint ventures, company foreign operations and liquidations
  2. apply the requirements of the Corporations Act 2001 and the professional accounting standards (including international accounting standards) to present and prepare the accounting entries in relation to company operations and share issues, income tax, business combinations, company consolidations, joint ventures, company foreign operations and liquidations
  3. demonstrate the ability to solve problems through case studies that require preparation of accounting entries as required by the professional accounting standards (including international accounting standards)
  4. demonstrate the technical and professional literacy skills required of an accounting professional to present and prepare the accounting entries and financial statements required of companies.


Description Weighting(%)
1. Company regulations and operations 8.00
2. Corporate governance 8.00
3. Tax effect accounting 9.00
4. Valuation of company assets 8.00
5. Acquisition of assets (including entities) 9.00
6. Company consolidations 25.00
7. Equity accounting 8.00
8. Joint ventures 8.00
9. Accounting for foreign operations 9.00
10. Company liquidations 8.00

Text and materials required to be purchased or accessed

ALL textbooks and materials available to be purchased can be sourced from USQ's Online Bookshop (unless otherwise stated). (

Please contact us for alternative purchase options from USQ Bookshop. (

  • Leo, K, Hoggett, J & Sweeting, J 2012, Company accounting, 9th edn, John Wiley & Sons, Milton, Queensland.
    (The text book is also available as an eBook. If you wish to purchase the text as an online copy then go to and follow the prompts.)
  • ACC5215 study materials available on CD or via the course materials link on the course study desk home page. Printed study materials are not provided.

Reference materials

Reference materials are materials that, if accessed by students, may improve their knowledge and understanding of the material in the course and enrich their learning experience.
  • Alfredson, K, Leo, K, Picker, R, Pacter, P, Radford, J & Wise, V 2009, Applying international financial reporting standards, 2nd edn, John Wiley & Sons, Milton, Queensland.
  • Dagwell, R, Wines, G & Lambert, C 2012, Corporate accounting in Australia, Pearson, Frenchs Forest, New South Wales.
  • Deegan, C 2012, Australian financial accounting, 7th edn, McGraw-Hill, North Ryde, New South Wales.
  • Jubb, P, Haswell, S & Langfield-Smith, I 2009, Company accounting, 5th edn, Cengage Learning, South Melbourne, Victoria.

Student workload requirements

Activity Hours
Assessments 20.00
Directed Study 50.00
Private Study 95.00

Assessment details

Description Marks out of Wtg (%) Due Date Notes
CMA TEST 1 20 10 24 Mar 2014 (see note 1)
CMA TEST 2 20 10 07 Apr 2014
CMA TEST 3 30 15 12 May 2014
EXAM CMA 10 10 End S1 (see note 2)

  1. Students are required to complete the CMA tests by 5pm (USQ time) on the due date. The CMA tests will be available from one week before the due date and can be accessed from the CMA link on the UConnect Study Desk. Students will not be permitted to attempt the CMA tests after the due date. CMA Test 1 covers Modules 1 and 2. CMA Test 2 covers Modules 3 and 4. CMA Test 3 covers Module 5 and weeks 1 and 2 of Module 6.
  2. The examination is scheduled to be held in the end-of-semester examination period. Students will be advised of the official examination date after the timetable has been finalised. The Exam CMA and Part B Examination are of a combined 2 hours duration)

Important assessment information

  1. Attendance requirements:
    If you are an international student in Australia, you are advised to attend all classes at your campus. For all other students, there are no attendance requirements for this course. However, it is the students' responsibility to study all material provided to them or required to be accessed by them to maximise their chance of meeting the objectives of the course and to be informed of course-related activities and administration.

  2. Requirements for students to complete each assessment item satisfactorily:
    To satisfactorily complete an individual assessment item a student must achieve at least 50% of the marks. (Depending upon the requirements in Statement 4 below, students may not have to satisfactorily complete each assessment item to receive a passing grade in this course.)

  3. Penalties for late submission of required work:
    Students should refer to the Assessment Procedure (point 4.2.4)

  4. Requirements for student to be awarded a passing grade in the course:
    To be assured of receiving a passing grade a student must achieve at least 50% of the total weighted marks available for the course.

  5. Method used to combine assessment results to attain final grade:
    The final grades for students will be assigned on the basis of the aggregate of the weighted marks obtained for each of the summative assessment items in the course.

  6. Examination information:
    This is a restricted examination. Candidates are allowed access only to specific materials during the examination. The only materials that candidates may use in the examination for this course are:
    1. writing and drawing instruments (non-electronic and free from material which could give the student an unfair advantage in the examination)
    2. calculators which cannot hold textual information (students must indicate on their examination paper the make and model of any calculator(s) they use during the examination).
    Students are not permitted to take mobile telephones, pagers or other electronic means of communication into the examination room.

  7. Examination period when Deferred/Supplementary examinations will be held:
    Any Deferred or Supplementary examinations for this course will be held during the next examination period.

  8. University Student Policies:
    Students should read the USQ policies: Definitions, Assessment and Student Academic Misconduct to avoid actions which might contravene University policies and practices. These policies can be found at

Assessment notes

  1. Computer-marked answer (CMA) tests:
    1. The due date for CMA tests is the date by which the student must complete the CMA tests electronically via UConnect. Please note: all CMA tests for this course are due by 5pm (USQ time) on the due date. The CMA tests will be available from one week before the due date.
    2. There will be NO extensions granted for the CMA tests as they are available from one full week before the due date and students are required to manage their commitments accordingly. Computer systems failure will not be valid grounds for applications for extension of assignment due dates.

  2. Course weightings:
    Course weightings of topics should not be interpreted as applying to the number of marks allocated to questions testing those topics in an examination paper. The examination may test material already tested in assignments.

  3. Deferred work:
    Students who, for medical, family/personal, or employment-related reasons, are unable to complete an assignment or to sit for an examination at the scheduled time may apply to defer an assessment in a course. Such a request must be accompanied by appropriate supporting documentation. One of the following temporary grades may be awarded: IDS (Incomplete - Deferred Examination); IDM (Incomplete Deferred Make-up); IDB (Incomplete - Both Deferred Examination and Deferred Make-up).

  4. Dishonest actions:
    1. Any student who is alleged to have performed a dishonest action relating to any assessment in the course will have a course of action taken against him/her as outlined in the academic regulations.
    2. Pieces of assessment should be the work of individual students. Joint pieces of assessment are not permitted unless written approval has been obtained from the examiner.
    3. Dishonest action in relation to assessment includes: copying or attempting to copy the work of others; use of or attempting to use information prohibited from use in that form of assessment; submitting the work of another as your own; consciously committing acts of plagiarism, that is, taking and using another's thoughts or writings as one's own with intent to deceive, which occurs when paragraphs, sentences, a single sentence or significant parts of a sentence which are copied directly, are not enclosed in quotation marks and appropriately footnoted or referenced in the text; direct quotations are not used, but text is paraphrased or summarised, and the source of the material is not acknowledged by footnoting or other reference in the text.

Other requirements

  1. Students can expect that questions in assessment items in this course may draw upon knowledge and skills that they can reasonably be expected to have acquired before enrolling in this course. This includes knowledge contained in pre-requisite courses and appropriate communication, information literacy, analytical, critical thinking, problem solving or numeracy skills. Students who do not possess such knowledge and skills should not expect the same grades as those students who do possess them.

  2. Computer, e-mail and Internet access:
    Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at //