Unit Information Management System

Corporate Accounting (ACCT2201, SEM-1, 2017, Crawley)

UWA Business School

Unit Outline

Corporate Accounting


SEM-1, 2017

Campus: Crawley

Unit Coordinator: Ms. Collette Chesters

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Copying of this material by students, except for fair dealing purposes under the Copyright Act, is prohibited. For the purposes of this fair dealing exception, students should be aware that the rule allowing copying, for fair dealing purposes, of 10% of the work, or one chapter/article, applies to the original work from which the excerpt in this course material was taken, and not to the course material itself

© The University of Western Australia 2001

Unit details

Unit title Corporate Accounting
Unit code ACCT2201 Credit points 6
Availability SEM-1, 2017 (27/02/2017 - 24/06/2017)
Location Crawley Mode Face to face

Contact details

Faculty Business School
School UWA Business School
School website http://www.business.uwa.edu.au/
Unit coordinator Ms. Collette Chesters
Email collette.chesters@uwa.edu.au
Telephone 6488 2996
Consultation hours By appointment.
NamePositionEmailTelephone Number
Ms Collette ChestersLecturercollette.chesters@uwa.edu.au6488 2996
Tutors/ Demonstrators/ Facilitators
Unit contact hours
Lecture time: Thursdays, 10:00 am - 12.00pm
Lecture venue:

Please refer to http://www.timetable.uwa.edu.au for the unit timetable

Lecture capture system LCS is implemented for this unit.
Online handbook http://handbooks.uwa.edu.au/units/unitdetails?code=ACCT2201
Unit website http://www.lms.uwa.edu.au

Unit rules

Prerequisites ACCT1101 Financial Accounting
Advisable prior study
Approved quota

Unit description

This is an intermediate unit in financial accounting with a primary focus on accounting for companies. Current Australian practice is examined and integrated with broader theoretical perspectives, seeking to provide the student with a comprehensive and up to date understanding of the key relevant issues in the current corporate accounting environment.


Welcome to ACCT2201 Corporate Accounting, the second unit in the sequence of financial accounting units. Following this unit are the units: ACCT3202 Advanced Corporate Accounting; ACCT3321 Financial Accounting: Theory and Practice; ACCT3302 Financial Statement Analysis and FINA2207 Business Analysis and Valuation.

Unit content and goals

The main areas covered include: the nature of companies and their financing; accounting for income tax; intangibles and goodwill; disclosures in the annual report; accounting for acquisitions; company liquidations; and consolidations. Other significant issues in the current corporate accounting environment will also be examined.

The overall aims of ACCT2201 are to develop your understanding of current issues in the field of corporate financial reporting, formulate skills via the application of Australian Accounting Standards, to gain insight into accounting for the various stages of Australian corporations’ life cycle and to encourage your interest in accounting as a profession.

Learning outcomes

Students are able to (1) identify and apply the accounting principles and practices relating to companies, including group accounting; (2) demonstrate an understanding of the regulatory environment of companies; and (3) identify and apply the principles of accounting for taxation in relation to companies.

Unit structure

Lectures:  2 hours per week.

Tutorials: 1 hour per week.  Tutorials commence in the second week.

(See Timetable)

Unit schedule

WeekDate (week commencing)Lecture TopicReadings Tutorial Questions
127 FebruaryIntroduction to ACCT2201
Forming a company, financing a company, profits, reserves and distributions to owners
Ch 2
No tutorials this week
26 MarchAccounting for income tax Part 1LKMS:
Ch 6
313 MarchAccounting for income tax Part 2
Property plant and equipment

Ch 6 and 9
420 MarchBusiness combinations (with a brief discussion on goodwill and impairments)LKMS:
Ch 12
527 MarchConsolidations: introduction
Consolidations: wholly owned subsidiaries Part 1
Ch 18 and 19
710 AprilConsolidations: wholly owned subsidiaries Part 2LKMS:
Ch 19
Mid-semester study break17 - 21 April
824 AprilConsolidations: intra-group transactionsLKMS:
Ch 20
91 MayConsolidations: non-controlling interestsLKMS:
Ch 21
108 MayEquity accountingLKMS:
Ch 23
1115 MayLiquidation of companiesLKMS:
Ch 25
1222 MayNavigating the financial statements and corporate governanceLKMS:
Ch 4 and 15
1329 MayPractical workshop, Wrap up and examination review
TBANo tutorials this week
Pre-examination study break5 - 9 June
Semester 1 examination period10 - 24 June
*Notes to table:
The following acronyms are used in the above table:

LKMS = Leo, Knapp, McGowan & Sweeting Company Accounting (textbook)
Ch = Chapter

Teaching and learning responsibilities

Teaching and learning strategies

Corporate Accounting is a challenging subject and is highly integrated from week to week. If you slip behind you will have difficulty catching up. The unit content consists of the textbook, lectures, tutorials, independent examination and Learning Management System (LMS). To gain the most from this unit you are encouraged to adopt the following strategy:

  1. Read the relevant chapter in the textbook each week. This introduces the topic and provides a comprehensive review of the material you need to know. Unless otherwise stated, all sections of an assigned textbook chapter are examinable even if not directly referred to in other learning components.
  2. Attend the lecture. This will contextualise the readings and review additional areas not sufficiently developed. There will be an emphasis on the background theory but also significant practical issues will be examined and explained. The lectures will be made available through LMS, however, I recommend you make every effort to attend the lectures ‘live’. Some information is not conveyed well through the recording system, and there is always the risk that theyr may be a glitch with the technology and a lecture will not be available.
  3. Attempt tutorial questions. The tutorials are vital for reviewing theoretical understanding and consolidating practical knowledge. At least two to three hours of preparation is expected each week. This will put you in the best position to focus on areas of concern during the tutorial. Given the comprehensive nature of this topic you can expect tutorials to move at a quick pace, and it is only through preparation that you will know which areas you want the tutor to focus on.
  4. Use LMS. Refer frequently to the LMS site for the unit for this will be the main method of communication by the teaching staff to students. The site contains the unit outline, lecture slides and tutorial solutions. It also houses a weekly online Forum to provide peer and teaching staff support.
  5. Make use of the Q & A Forum "Will it be on the Exam?". This unit has a weekly online forum which can be accessed via LMS. The purpose of the Forum is to provide a space where students can pose questions and have them answered by other students and the teaching staff. Staff will regularly moderate the forum and summarise common questions and concerns in the following weeks lecture.

Teaching and learning evaluation

You may be asked to complete two evaluations during this unit: The Student Perception of Teaching (SPOT) and the Students’ Unit Reflective Feedback (SURF). The SPOT is optional and is an evaluation of the lecturer and the unit. The SURF is completed online and is a university wide survey and deals only with the unit. You will receive an email from the SURF office inviting you to complete the SURF when it is activated. We encourage you to complete the forms as your feedback is extremely important and can be used to make changes to the unit or lecturing style when appropriate.


Participation in class, whether it be listening to a lecture or getting involved in other activities, is an important part of the learning process, therefore it is important that you attend classes. More formally, the University regulations state that ‘to complete a course or unit students shall attend prescribed classes, lectures, seminars and tutorials’. Where a student, due to exceptional circumstances, is unable to attend a scheduled class, they are required to obtain prior approval of the unit coordinator to be absent from that class. Any student absent from class without having had such absence approved by the unit coordinator may be referred to the faculty for advice and may be required to withdraw from the unit. 

Attendance at tutorials (and preparation beforehand) is considered a critical element for success in this unit. Tutorials provide students with the opportunity to obtain direct feedback and guidance from the tutor on areas that are particularly challenging.

Charter of student rights and responsibilities

The Charter of Student Rights and Responsibilities upholds the fundamental rights of students who undertake their education at the University of Western Australia.  The University's charter of Student Rights and Responsibilities is available at www.governance.uwa.edu.au/procedures/policies/policies-and-procedures?method=document&id=UP07/132

Student Guild contact details

The Guild represents all students enrolled at UWA. They can help you in a number of ways by providing financial, academic, and welfare support. Contact details for the University Student Guild can be found at www.guild.uwa.edu.au/. The Guild Education Officer is available to provide assistance and advice on a range of issues.

Student Services contact details

There is a wealth of material provided by UWA Student Services that can help you settle into university life and help with many other issues you may encounter as a university student.  Contact details for Student Services can be found at http://www.student.uwa.edu.au/contact


UniAccess provides free services and support to UWA students who want to disclose a disability or a medical condition and request assistance http://www.student.uwa.edu.au/experience/health/uniaccess

The Library

The University Library http://www.library.uwa.edu.au/has many services available to support you academically.  The Business collection is located in the Barry J Marshall Library in the Science building http://www.library.uwa.edu.au/contact/science , otherwise a Business librarian is available at the School at specified times. 

Uses of student feedback


Your academic orientation includes three online units which you must complete within the first 10 weeks of your enrolment:

AACE1000 Academic Conduct Essentials (ACE)  (just this for postgraduate)
INDG1000 Indigenous Study Essentials
CARS1000 Communication and Research Skills

Information for students with disabilities

The University has a range of support services, equipment and facilities for students with a disability. If you would like to receive advice on these services please email uniline@uwa.edu.au or visit www.student.uwa.edu.au/life/health/uniaccess

Using peer feedback to assess team contributions

The online tool SPARKPLUS may be used to assess individual contributions to team work. Where Spark is used you will be required to provide feedback to, and receive feedback from, your team members. Based on a series of answers from each team member SPARKPLUS automatically produces two weighting factors: your RPF and SAPA. The use of SPARKPLUS will be explained in class and more information is available on LMS.


Assessment overview

Typically this unit is assessed in the following ways: (1) tutorial attendance and participation; (2) online quiz; and (3) examinations. Further information is available in the unit outline.

For Semester 1, 2017, please refer to the assessment mechanism below.

Assessment mechanism

#ComponentWeightDue DateRelates To Outcomes
1Multiple Choice Quiz (MCQ)15%Quiz 1 (online material)16 March 5:00pm
Quiz 2 - 9 March, 5:00pm
Quiz 3 - 16 March, 5:00pm
Quiz 4 - 23 March, 5:00pm
Quiz 5 - 30 March, 5:00pm
Quiz 6 - 6 April, 5:00pm
Quiz 7 - 20 April, 5:00pm
Quiz 8 - 4 May, 5:00pm
Quiz 9 - 11 May, 5:00pm
Quiz 10 - 18 May, 5:00pm
Quiz 11 - 25 May, 5:00pm
1 - 7
2Group Assignment20%5 May, 5:00pm1 - 5, 7
3Examinations65%Mid - semester exam (25%): Week 6 (4 April 6:30pm);
Final exam: Semester 1 exam period 10-24 June (40%)
1 - 7

Assessment items

ItemDescriptionSubmission Procedure
#1 - Multiple Choice Quiz (MCQ)The first online quiz is worth 5% and is to be completed in LMS after self study of the online lecture "Getting up to Speed". Students must achieve a minimum score of 70% on the first quiz. The quiz will open 2nd March, 5:00pm The remaining 10 quizzes relate to the remaining topics of the course and are released weekly on Friday mornings after the lecture. Multiple attempts are allowed for each quiz. No minimum score is required for the remaining 10 quizzes.Via LMS
#2 - Group AssignmentThe group assignment will be completed by teams of three students. It will consist of a consolidation exercise, worksheet and the preparation of a set of group accounts. Teams will be formed within the tutorial groups at the commencement of semester. SPARK will be used to determine individual marks and more details will be provided in class.Via LMS
#3 - ExaminationsThe mid-semester exam aims to examine the first four weeks of the semester's topics and provide feedback on your understanding of some key concepts of the course.

The final exam will comprise both theoretical and practical questions. This assessment is designed to be summative in nature and, as such, could cover all topics covered in this unit. Final details on the format of the exam and the best method of preparation will be distributed closer to the end of semester. NOTE: In order to pass the unit you must obtain a passing grade for the final examination.

Academic literacy and academic misconduct

The University of Western Australia takes very seriously the matter of academic misconduct by students and has policies in place that define misconduct (including plagiarism) and the penalties that apply. The consequences for misconduct can be severe, including exclusion from the University.

All students are expected to make themselves aware of the definitions and the policies relating to academic misconduct, found at the websites below, and with any additional requirements or stipulations that may be provided by individual coordinators www.governance.uwa.edu.au/procedures/policies/policies-and-procedures?policy=UP07%2F21

Appeals against academic assessment

The full regulations governing appeals procedures are available in the University Handbook at http://rules.handbooks.uwa.edu.au/rules/student_rules/

Penalty for late submission

A penalty of 5 per cent of the total mark allocated for the assessment item is deducted per day for the first 7 days (including weekends and public holidays) after which the assigned work is not accepted. Each 24-hour block is recorded from the time the assignment is due.

 Penalty for exceeding word limit

Where an assignment exceeds the word limit, a penalty of 1 per cent of the total mark allocated for the assessment task applies for each 1 per cent in excess of the word limit.

Textbooks and resources

Recommended texts

Leo, K., Knapp, J., McGowan, S. &Hoggett, J, & Sweeting, J. 2015, Company Accounting, 10th edn. John Wiley and Sons, Milton QLD. ISBN 9781118608173.

We will use many chapters from this book and it will be the source for all tutorial work. It is highly recommended that you purchase your own copy.

Suggested alternate texts

Additional texts

Technical requirements

Software requirements

Additional resources and reading

There are a number of texts that may support you in your learning. Whilst it is certainly NOT suggested that you purchase these books separately, they may provide useful additional insight into areas you find challenging. Copies of the recommended readings below will be placed in the Libraries High Demand Collection for your use. 

 To Review Basic Principles:

  • Hoggett, J, Edwards, L, Medlin, C & Tilling, M 2009, Financial accounting, 7thedn. John Wiley & Sons Australia, Milton Qld. (This text is to complement the more advanced areas).
  • Deegan, C 2010, Australian financial accounting, 6thedn. McGraw-Hill Irwin, North Ryde NSW. (A good basic introduction to most of the areas covered in this course).
  • Picker, R, Leo, K, Alfredson, K, Radford, J, Pacter, P & Wise, V 2009, Australian accounting standards, 2ndedn. Wiley, Milton Qld. (A good place to find more detailed examination of some areas covered by this course).
  • Henderson, S, Peirson, G & Heirbohn, K 2008, Issues in financial accounting, 13th edn. Longman, South Melbourne.
  • Jubb, P, Haswell, S & Langfield-Smith, I 2010, Company accounting, 5thedn. Cengage Learning, Melbourne.
  • CPA 2014, Accounting handbook, CPA Australia, Prentice Hall, Melbourne.
  • ICAA 2014, Financial reporting handbook, Institute of Chartered Accountants Australia (ICAA), John Wiley & Sons, Milton Qld.

Other important information

Using peer feedback to assess team contributions

The online tool SPARKPLUS will be used to assess individual contributions to team work. You will be required to provide feedback to, and receive feedback from, your team members. Based on a series of answers from each team member SPARKPLUS automatically produces two weighting factors: your RPF and SA/PA. The use of SPARKPLUS will be explained in class and more information is available on LMS at www.lms.uwa.edu.au

Standard of assessment

The Business School must ensure that the processes of assessment are fair and are designed to maintain the standards of the School and its students. The School follows the UWA marks and grades distribution:

Higher distinction






Credit pass












Failed component




The scaling of marks to ensure comparability between classes is an acceptable academic practice. The School and Board of Examiners have the right to scale marks where it is considered necessary to maintain consistency and fairness.

Quality assurance

Your assessed work may also be used for quality assurance purposes, such as to assess the level of achievement of learning outcomes as required for accreditation and audit purposes. The findings may be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated as confidential, and the outcome will not affect your grade for the unit.

Approved calculators for examinations

The University permits only the use of calculators in examinations when the calculator has an approved sticker and the examiner permits their use.  If the student does not have an approved sticker on their calculator, they will not be permitted to use the calculator.  Calculators can be approved at the Undergraduate Student Centre, the Postgraduate Student Centre or at Student Administration.  Further information is available on the Business School website at www.business.uwa.edu.au/students/assessments

Special consideration/alternative arrangements

If you are unable to attend a class, tutorial or examination due to circumstances beyond your control and are seeking an extension for submission of an assignment or a deferred exam, please read valid reasons for special consideration at www.student.uwa.edu.au/life/health/uniaccess/special-consideration, complete the application form and submit at the Student Centre.
PLEASE NOTE that deferred exams are not available in Summer School units.

Acknowledging Sources of Information and the Business School Policy on Plagiarism

Student Services provides an online plagiarism portal that includes a definition of plagiarism and a link to FAQ www.studentservices.uwa.edu.au/ss/learning/online_services/plagiarism_portal

‘Turnitin' Originality Checking & Plagiarism Prevention is used in the Faculty to allow both educators and their students check written work for improper citation or misappropriated content. More information about 'Turnitin' can be found at http://turnitin.com/static/index.html

eBooks and open book exams

eBooks cannot be accessed at an examination. Please check your exam details and purchase a printed version of any book you would select to take into an open book exam.


It is important that the referencing of any sources used in your written work is done properly, if only to substantiate the points you are making in your assignment or project.  The Harvard style is the preferred and there are some notes for guidance which have been prepared by the library staff:  ‘Citing your Sources Harvard Style’ http://libguides.library.uwa.edu.au/harvard

The EndNote software package is a really good system for building up a database of references.  Not everyone will want to invest the time in using this system but you should consider it if you intend to build up resource materials or plan to undertake extensive research in a particular area.  The library staff have also developed a tutoring package: ‘A Quick Guide to Using EndNote’ which provides the basics for using EndNote with an essay http://libguides.library.uwa.edu.au/endnote

Last day to add a unit offered in a semester

The final date to add a unit is the end of week 2 of the semester.  For further information on important dates for 2017, refer to www.student.uwa.edu.au/course/dates/important


STUDYSmarter helps students get more out of their study by equipping you with additional skills needed at university. Explore the range of free on-campus and online services to help you develop academic communication, research, critical analysis, numeracy and study skills. http://www.student.uwa.edu.au/learning/studysmarter