22320 Accounting for Business Combinations

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2025 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:

Undergraduate

Result type: Grade and marks

Requisite(s): 22207 Accounting for Business Decisions B OR 22208 Accounting, Business and Society
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.

Description

Together with 22420 Accounting Standards and Regulations, this subject deals with the application and analysis of prescribed accounting treatments. It specifically surveys the institutional and legal framework of current Australian accounting with reference to international accounting standards and local and overseas standards and exposure drafts.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:

1.	apply the regulations that determine accounting and reporting for economic entities
2.	prepare financial statements for economic entities that accounts for subsidiaries, associates and joint ventures, and provides segment information
3.	implement accounting and reporting techniques to non-routine circumstances and new events
4.	discuss, in written form, the appropriate accounting treatment applicable in the given circumstances.

Contribution to the development of graduate attributes

This subject builds on the foundation provided in 22207 Accounting for Business Decisions B to extend the financial accounting knowledge required for a major program of study in accounting within the Bachelor of Business and Bachelor of Accounting degrees. It contributes to the objectives of the accounting major by focusing on the development of accounting and reporting techniques currently applicable to corporate entities in Australia, with appropriate consideration of international requirements.

This subject contributes to the development of the following graduate attributes:

Communication and collaboration
Social responsibility and cultural awareness

This subject also contributes specifically to develop the following Program Learning Objectives:

Demonstrate ability to work independently and with others as a member of a team to achieve an agreed goal (2.2)
Make judgements and business decisions consistent with the principles of social responsibility, inclusion and knowledge of Indigenous peoples (3.1)

Teaching and learning strategies

Preparation

Students enrolled in this subject are expected to have possessed a good understanding of the basic accounting principles and be proficient with recording accounting journal entries. To ensure students are up to speed at the outset, revision materials will be available on the UTS Learning Management System and students should go through these materials before attending the first lecture. In addition, there will be an online quiz (as a formative learning tool) to gauge their progress and provide feedback on students’ understanding of the basic concepts.

Lectures

Lectures are designed to introduce the technical and theoretical aspects of the subject. Lectures cannot cover the total 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 and are intended merely to provide students with the key headings that will be explained in lectures. Students are expected to add their own additional notes and explanations. At the beginning of each lecture any administrative announcements are made (and these are duplicated online as well). It is recommended that students read the relevant textbook chapter and any other required readings prior to attending the scheduled lecture on that topic. This background reading is essential to setting the scene for the lecture. During lectures, students are expected to participate in interactive discussions on various topics. Students will also have to use their mobile devices and interactive online systems to answer questions as part of their interactive learning experience.

Tutorials

Tutorials begin in the second week of session. The primary objective of the tutorial is to consolidate the material covered in lectures in the previous week, and students are expected to have fully attempted the assigned problems before coming to the tutorial. During tutorials, students will be asked to provide or discuss answers to the assigned problems based on the work they have prepared at home. It is important for students to remember that tutorials represent a valuable opportunity for learning, and this potential is only fully achieved if students are fully prepared and participate in discussions. Tutorials will be conducted on the assumption that students have come to class prepared. Students must attend their timetabled tutorial, bringing the tutorial questions with them to class. Solution to the assigned tutorial questions will be provided on the learning management system at the end of each week. In addition, real-world case studies will be handed out in tutorial classes for students to work in groups. Students will be provided feedback on the work they prepared by the tutor.

Self-study

These questions are not covered in class but are intended for students to attempt as part of their regular individual study. Answers to self-study questions will be posted on the learning management system the week after the respective topic. We strongly encourage students to attempt these questions as it provides a guide to their comprehension of course material and will indicate areas where they may wish to seek assistance from course staff.

UTS Learning Management System (https://online.uts.edu.au)

The UTS Learning Management System provides the main online learning support. It is essential that students log in at least twice per week to keep abreast of subject-wide announcements and use the resources to supplement their learning. Lecture slides are available on the learning management system the day before each lecture and students should download and bring them to class. Please note that lecture slides are not a substitute for attending lectures.

Online discussion forums will be available throughout the session to all students on the site. These can be used to clarify questions relating to subject content and subject administration. Please follow discussion forum rules when placing posts. To encourage students to use the discussion forums and to ensure consistent information is available to all students, subject staff will not answer emails on subject content, administration or assessment items. Appropriate online behaviour in such discussions is expected at all times. Subject staff will attempt to answer questions posted on the discussion forums.

Content (topics)

The regulatory environment for corporate and other reporting entities in Australia
Introduction to consolidation
Principles of consolidation and the consolidation process
Accounting for investments in associates
Accounting for interest in joint arrangements
Other corporate disclosures including segments and related parties

Assessment

Assessment task 1: Learning quizzes (Individual)*

Objective(s):	This addresses subject learning objective(s): 1, 2 and 3
Weight:	30%
Length:	The quizzes are 30 minutes in length.
Criteria:	Clarity of expression in relation to ideas, and willingness to function positively within a team Ability to develop ideas through multiple iterations, and to build on and advance initial concepts Clarity of expression in relation to ideas, and willingness to function positively within a team *Note: Late submission of the assessment task will not be marked and awarded a mark of zero. Students who do not attend one or both quizzes (15% each) will have the weighting of that assessment added to the final examination conditional on the students submitting, receiving approval and complying with the requirements of special consideration in accordance with the UTS rules. If the composite mark for the final exam totals more than 50 percent and the student is in the final subject of their degree, the UTS rules on borderline result (range of 45-49) shall apply whereby students will be allowed to undertake a supplementary final examination. Where a student completes and passes the supplementary examination, the maximum mark awarded for the subject will be 50 Pass.

Assessment task 2: Assignment (Group)

Objective(s):	This addresses subject learning objective(s): 1, 2, 3 and 4
Weight:	20%
Length:	15 pages (double-spaced, A4 pages and font size 12)
Criteria:	Imagination, depth of thinking and originality of concept Level of design and animation craft, and ability to respond positively and proactively to feedback Clarity of communication of ideas, and level of positive interaction and equity of work division within team Research quality. Evidence of a broad range of visual and textual materials, and ability to see this project in a wider social and cultural context Willingness to help out with tasks outside of individual outcome, especially in relation to other students

Assessment task 3: Final Exam (Individual)

Intent:	This assessment task is a compulsory component of the subject. A student must attain no less than 40% of the marks in this assessment to pass the subject irrespective of the subject’s total marks.
Objective(s):	This addresses subject learning objective(s): 1, 2 and 4
Weight:	50%
Length:	120 minutes
Criteria:	Originality of character concept, and unusual use of form Ability to research your subject in depth, and then to support this process with specific research for character design. Willingness to explore lateral and tangential directions Professional approach to multiple iterations and multiple design ideas

Minimum requirements

A student must achieve 50% or more of the subject’s total marks AND achieve 40% or more in the final exam to pass the subject.
A Fail (X) Grade is awarded to a student who attains 50% or more of the overall subject assessment marks but attains less than 40% of the final exam marks. To pass the subject, the student must then attain 50% or more of the marks in the supplementary task, in which case the student is awarded an overall mark of 50P.

Required texts

Arthur, Luff, Keet, Egan, Howieson and Ram, Accounting for Corporate Combinations and Associations, 2017, 8th edition, Pearson Australia.

You can download accounting standards (free of charge) from the website of the Australian Accounting Standards Board (www.aasb.com.au).

Recommended texts

Loftus, Leo, Daniliuc, Boys, Luke, Ang and Byrnes, Financial Reporting, 4th edition (2023), John Wiley & Sons Australia.