ACCTN202-21B (HAM)

Intermediate Financial Accounting

15 Points

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Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: maxine.hayward@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

: pritesh.khatri@waikato.ac.nz

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
    • For extensions starting with 3: dial +64 7 2620 + the last 3 digits of the extension e.g. 3123 = +64 7 262 0123.
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Paper Description

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A key element of corporate governance in New Zealand is Financial Reporting. This paper is designed to familiarise students with the practices, principles and regulations of Financial Reporting in New Zealand. Application of the current statutory requirements and accounting standards for financial reporting, via tutorial exercises and assignments, is the key aspect of this paper and is intended provide students a thorough understanding of the expectations and ethical requirements of the accounting profession.
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Paper Structure

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The objective of this paper is to help students develop the technical skills in the interpretation and application of accounting standards and statutory requirements of financial reporting in New Zealand. The topics covered in this paper are intended to provide an informed platform to underpin professional practice and continuing education in accounting. Students are expected to be creative and able to make informed choices, exercise judgement and provide good advice in relation to financial reporting. This paper is required by the Chartered Accountants ANZ for students majoring in accounting and as such it meets the academic requirements for students pursuing a career as a professional accountant.

This is a required paper for Chartered Accountants ANZ and is a prerequisite for some of our Level 3 accounting, auditing and taxation papers.

In undertaking this paper you can expect to spend around 200 hours of input.

  • use the weekly outline as a guide for your time allocation,
  • make sure that you leave enough time for test preparation.

This paper will require substantial time to be spent outside of class working through the textbook, exercises and readings. For every hour spent in class you are expected to spend at least 3.5 hours of study/preparation.

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Learning Outcomes

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Students who successfully complete the paper should be able to:

  • Prepare financial statements for partnerships in New Zealand
    Linked to the following assessments:
  • Account for changes in partnership structure.
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  • Apply New Zealand Equivalent to International Financial Reporting Standards in accounting for assets, liabilities, equity, income and expenses.
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  • Apply New Zealand Equivalent to International Financial Reporting Standards, provisions of Financial Reporting Act 2013 and provisions of Company Act 1993 in the preparation of financial reports for single New Zealand companies.
    Linked to the following assessments:
  • Apply New Zealand Equivalent Financial Reporting Standards, provisions of Financial Reporting Act 2013 and provisions of Companies Act 1993 in the preparation of consolidated financial reports for a group of companies in New Zealand.
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  • Explain and critically evaluate the conceptual framework for financial reporting, make informed choices, exercise judgement and provide advice on matters relating to financial reporting.
    Linked to the following assessments:
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Assessment

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Assessment for 2021 B Trimester is 1:1 (Internal:External).

Most of what students need to know about the conduct and content of this course is given in this course outline. Updates may be communicated to students via announcements, lectures and email from time-to-time as the need arises. It is the students' responsibility to keep up with the development via the communication channels stated here.

Please note that we model the conduct of this course based on the highest expectations of the accounting profession and ethics, hence for all assessments in this course, unless otherwise explicitly excused, any form of violations against acceptable professional behaviour, ethics, integrity and norms will attract severe sanctions and concomitant penalties.

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Assessment Components

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The internal assessment/exam ratio (as stated in the University Calendar) is 50:50. There is no final exam. The final exam makes up 50% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 50:50 or 0:0, whichever is more favourable for the student. The final exam makes up either 50% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Tutorial Assessable Work
10
2. Test 1
18 Aug 2021
2:00 PM
13.5
  • Hand-in: In Lecture
3. Test 2
29 Sep 2021
2:00 PM
16.5
  • Hand-in: In Lecture
4. Group Assignment
15 Oct 2021
12:00 PM
10
  • Online: Submit through Moodle
5. Exam
50
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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Required and Recommended Readings

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Required Readings

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Deegan, C. and Samkin, G. (2013). New Zealand Financial Accounting, 6th Edition, McGraw-Hill, Auckland, New Zealand.

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Recommended Readings

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Deegan, C. (2016). Financial Accounting, 8th Edition, McGraw-Hill, NSW, Australia.
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Other Resources

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Online Support

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If you require online support for Moodle please email helpdesk at: wmshelp@waikato.ac.nz
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Workload

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In undertaking this paper you can expect to spend around 200 hours of input.

  • use the weekly outline as a guide for your time allocation,
  • make sure that you leave enough time for test preparation.

This paper will require substantial time to be spent outside of class working through the textbook, exercises and readings. For every hour spent in class you are expected to spend at least 3.5 hours of study/preparation.

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Linkages to Other Papers

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This paper provides an important link to other accounting papers. This paper is a pre­requisite for most of the higher level accounting papers.
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Prerequisite(s)

Prerequisite papers: ACCTN101 and 16 credits at Level 3 in NCEA Accounting, or ACCTN101 or ACCT101 and ACCTN102 or ACCT102, or NCEA Scholarship Accounting, or 20 credits at Level 3 in NCEA Accounting, or at the discretion of the Accounting Subject Convenor.

Corequisite(s)

Equivalent(s)

Restriction(s)

Restricted papers: ACCT202

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