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HE Unit Template
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Corporate Accounting
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BUACC2002 - Corporate Accounting
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20250200
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Course
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1.3
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2026-06-16
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2026-06-16
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Business
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Institute of Innovation, Science & Sustainability
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Business
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Undergraduate
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15
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.125
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080101
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Accounting
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<a href="http://www.federation.edu.au/locate/unit/buacc2002">080101 - Accounting</a>
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Graded (e.g. HD, D, C, etc)
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7
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Bachelor Degree
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Intermediate
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1
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<p>This unit explores the conceptual and procedural aspects of corporate accounting within the framework of legal, stock exchange, and professional reporting requirements. It focuses on preparing corporate financial statements by addressing key areas such as equity, debt, taxation, reorganisation, acquisition, consolidation, and liquidation. Students will also gain an understanding of ethical principles, sustainability reporting, and international accounting standards, providing a comprehensive view of corporate accounting in Australian and international contexts. The unit covers regulatory compliance, the application of International Financial Reporting Standards (IFRSs), and professional judgment in preparing and analysing financial statements.</p>
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<p>The unit will cover the following key topics:</p>
<p>1. Regulatory Framework and Conceptual Framework</p>
<p> - Accounting regulation (Corporations Act in Australia)</p>
<p> - IFRSs, including IAS 16 (Property, Plant, and Equipment), IAS 12 (Income Taxes), and IAS 36 (Impairment of Assets)</p>
<p>2. Corporate Financial Reporting Processes</p>
<p> - Financial statement preparation (IAS 1 and IAS 7)</p>
<p> - Corporate disclosures under IAS 8 (Accounting Policies, Changes in Accounting Estimates, and Errors)</p>
<p>3. Specialized Corporate Accounting Topics</p>
<p> - Accounting for income taxes, provisions, contingent liabilities (IAS 37)</p>
<p> - Business combinations and consolidated financial statements (IFRS 3, IFRS 10)</p>
<p>4. Corporate Governance and Ethics</p>
<p> - Ethical considerations in financial reporting</p>
<p> - The role of sustainability reporting</p>
<p>5. Complex Corporate Activities</p>
<p> - Accounting for mergers, acquisitions, and reorganisations</p>
<p> - Consolidation mechanics, including intragroup transactions and non-controlling interests</p>
<p> - Liquidation and insolvency accounting</p>
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<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
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2026
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Overview
Key information
Requisites
Learning outcomes
Assessment
FedTASK
Parent Region
Overview
Unit description
<p>This unit explores the conceptual and procedural aspects of corporate accounting within the framework of legal, stock exchange, and professional reporting requirements. It focuses on preparing corporate financial statements by addressing key areas such as equity, debt, taxation, reorganisation, acquisition, consolidation, and liquidation. Students will also gain an understanding of ethical principles, sustainability reporting, and international accounting standards, providing a comprehensive view of corporate accounting in Australian and international contexts. The unit covers regulatory compliance, the application of International Financial Reporting Standards (IFRSs), and professional judgment in preparing and analysing financial statements.</p>
Unit content
<p>The unit will cover the following key topics:</p> <p>1. Regulatory Framework and Conceptual Framework</p> <p> - Accounting regulation (Corporations Act in Australia)</p> <p> - IFRSs, including IAS 16 (Property, Plant, and Equipment), IAS 12 (Income Taxes), and IAS 36 (Impairment of Assets)</p> <p>2. Corporate Financial Reporting Processes</p> <p> - Financial statement preparation (IAS 1 and IAS 7)</p> <p> - Corporate disclosures under IAS 8 (Accounting Policies, Changes in Accounting Estimates, and Errors)</p> <p>3. Specialized Corporate Accounting Topics</p> <p> - Accounting for income taxes, provisions, contingent liabilities (IAS 37)</p> <p> - Business combinations and consolidated financial statements (IFRS 3, IFRS 10)</p> <p>4. Corporate Governance and Ethics</p> <p> - Ethical considerations in financial reporting</p> <p> - The role of sustainability reporting</p> <p>5. Complex Corporate Activities</p> <p> - Accounting for mergers, acquisitions, and reorganisations</p> <p> - Consolidation mechanics, including intragroup transactions and non-controlling interests</p> <p> - Liquidation and insolvency accounting</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
<a href="http://www.federation.edu.au/locate/unit/buacc2002">080101 - Accounting</a>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Requisites
Prerequisite
<p> must have completed <a href="/ords/r/dev/fed_occ/course?p6_code=BUACC1000" target="_blank">BUACC1000</a></p>
Corequisite
None
Exclusion
<p> must not have completed <a href="/ords/r/dev/fed_occ/course?p6_code=BUACC2607" target="_blank">BUACC2607</a> AND must not have completed <a href="/ords/r/dev/fed_occ/course?p6_code=BUACC2004" target="_blank">BUACC2004</a></p>
Learning outcomes
Learning outcomes
<p>On successful completion of this unit, students are expected to gain the following [K]nowledge, [S]kills and [A]pplication of knowledge & skills</p>
Learning Outcomes
Ref
Outcome
K1
<p>Identify and interpret the legal and other professional reporting requirements under Australian and international accounting standards, including International Financial Reporting Standards (IFRS) and the Conceptual Framework.</p>
K2
<p>Explain the processes of corporate financial reporting, emphasising generally accepted accounting principles (GAAP) and relevant standards like IAS 16 (Property, Plant, and Equipment) and IAS 36 (Impairment of Assets).</p>
K3
<p>Analyse the theoretical foundation of corporate financial reporting, focusing on standards such as IAS 12 (Income Taxes) and IAS 37 (Provisions, Contingent Liabilities, and Contingent Assets).</p>
K4
<p>Critically evaluate the reliability and limitations of corporate financial reports as sources of decision-making information.</p>
K5
<p>Apply accounting standards with given contexts.</p>
S1
<p>Assess and apply corporate accounting procedures in line with statutory and professional requirements, including preparing financial statements under IAS 1</p><p>(Presentation of Financial Statements) and IAS 7 (Statement of Cash Flows).</p>
S2
<p>Analyse and utilise communication skills to contrast and explain corporate accounting concepts and practice.</p>
S3
<p>Analyse and explain the rationale behind accounting treatments, such as consolidation adjustments (IAS 27-30) and accounting for business combinations (IFRS 3).</p>
S4
<p>Develop critical thinking and problem solving skills to solve corporate accounting problems.</p>
A1
<p>Develop a critical understanding of contentious issues in corporate financial reporting, including taxation (IAS 12) and sustainability reporting.</p>
A2
<p>Demonstrate ethical judgment and integrity in applying accounting practices, particularly in areas like asset valuation and disclosures (IAS 36, IAS 19).</p>
A3
<p>Develop a deep understanding of a wide range of corporate accounting topics and application of accounting standards</p>
Assessment
Learning Tasks and Assessment
Ref
Learning task
Assessment type
Weighting
Learning outcomes assessed
1
<p>Actively engage in class and/or online activities which could include: quizzes, tests, discussion activities or engaging with case studies</p>
<p>Individual Learning & Engagement Activities</p><p><br></p>
<p>10-30%</p>
K1, K2, K5, S1, S2, A2
2
<p>Group Assignment: Analysis of current issue(s) in Corporate Accounting</p>
<p>Presentation and report</p>
<p>20-40%</p>
K1, K2, K3, K4, K5, S1, S2, S3, S4, A1, A2, A3
3
<p>Comprehensive review of all topics</p>
<p>Live independently invigilated assessment</p>
<p>40-50%</p>
K1, K2, K3, K4, K5, S1, S2, S3, S4, A1, A2, A3
Supplementary assessment available:
Yes
Supplimentary assessment information:
<p>Where supplementary assessment is available a student must have failed overall in the Unit but gained a final mark of 45 per cent or above, has completed all major assessment tasks (including all sub-components where a task has multiple parts) as specified in the Unit Description and is not eligible for any other form of supplementary assessment.</p>
FedTASK
FedTASK
<p>Federation University recognises that students require key transferable employability skills to prepare them for their future workplace and society. FedTASKs (<strong>T</strong>ransferable <strong>A</strong>ttributes <strong>S</strong>kills and <strong>K</strong>nowledge) provide a targeted focus on five key, transferable Attributes, Skills, and Knowledge that are embedded within curriculum, developed gradually towards successful measures and interlinked with cross-discipline and co-operative learning opportunities.</p>
FedTASK
Description of FedTASK outcome
Level
FedTASK 1: Interpersonal
The ability to effectively communicate, interact and work with others both individually and in groups.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 2: Leadership
The ability to apply professional skills and behaviours in leading others.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 3: Critical Thinking and Creativity
The ability to work in complexity and ambiguity using imagination to create new ideas.
<p>Level 3 - Student works independently with limited guidance or works within self-determined guidelines appropriate to context</p>
FedTASK 4: Digital Literacy
The ability to work fluently across a range of tools and applications to achieve a range of skills.
<p>Level 2 - Student demonstrates some independence within provided guidelines</p>
FedTASK 5: Sustainable and Ethical Mindset
The ability to consider and assess the consequences and impact of ideas and actions in enacting ethical and sustainable decisions.
<p>Level 3 - Student works independently with limited guidance or works within self-determined guidelines appropriate to context</p>
Key information
Institute / school:
Institute of Innovation, Science & Sustainability
Discipline:
Business
Study level:
Undergraduate
Credit points:
15
EFTSL:
0.125
Field of education:
<a href="http://www.federation.edu.au/locate/unit/buacc2002">080101 - Accounting</a>
Grade scheme:
Graded (e.g. HD, D, C, etc)
Placement component:
No
Disclaimer
<em>Information in the Federation Handbook is correct at the time of publication. The University reserves the right to alter any course, unit, procedure or fee.</em>
Additional information
Add Info Static Text
Internal reference: BUACC2002 - U1.3