ACCTN202-21H (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)

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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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. This paper is designed to familiarize 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 lecture illustrations, tutorial exercises and assignments, is the key aspect of this paper.

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 paper is a prerequisite for some of our Level 3 accounting, auditing and taxation papers.

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Paper Structure

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2 x four-hour lecture (Tuesday 1pm - 5pm & Wednesday 1pm - 5pm)
2 x one-hour tutorial (Tuesday 5pm - 6pm & Wednesday 5pm - 6pm. Commence on Wednesday 6 January)

In undertaking this paper you are expected to spend around 200 hours of input. This paper will require substantial time to be spent outside of class working through the 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 Companies Act 1993 in the preparation of financial reports for single New Zealand companies.
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  • Apply New Zealand Equivalent to International 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 H Semester is 100:0 (Internal:External). There is no final exam for this semester.

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 attendance and assignment
9
  • Hand-in: In Tutorial
2. Weekly online quiz
10
  • Online: Submit through Moodle
3. Test 1
19 Jan 2021
1:00 PM
16.5
  • Hand-in: In Lecture
4. Test 2
26 Jan 2021
12:00 AM
16.5
  • Hand-in: In Lecture
5. Group assignment
2 Feb 2021
12:00 PM
15
  • Online: Submit through Moodle
6. Test 3
10 Feb 2021
12:00 AM
33
  • Hand-in: In Lecture
7. Exam
0
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.and.
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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 are expected to spend around 200 hours of input. This paper will require substantial time to be spent outside of class working through the 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 pre-requisite 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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