BUSN7050
Corporate Accounting
Final Exam Review
Lecturer:
Examinable details
• Lectures 1 –5: examined in mid-exam
• Lectures 6 –12: examinable in final exam
• Priority of exam revision:
– Lecture slides
– Tutorial questions
– Textbook & other materials
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• Structure of the examination paper:
– One section that consists of multiple choice
questions (10 marks).
– other sections that consist of practical
problems (90 marks).
– format: cloze-type calculation of account amount
– Drop down menu for account name, debit or credit
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Examination details
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Examination details
• Date and time: Please refer to the information you received from
timetabling team.
• Venue: Online Exam - Wattle Proctorio
• Exam condition: No materials permitted
• Exam duration: 15 minutes reading+180 minutes writing+5
minutes extra
– Any technical issues emerged during your exam, please contact
wattle support team who are supporting our exam during the exam
period. Email: wattle.support@anu.edu.au or Phone: 6125 4321 (opt
1, opt 5), or Proctorio agent in the exam (available 24/7).
– I can clarify questions related to exam contents through xiu-
ye.zhang@anu.edu.au during the exam. Technical issues must
not be sent to me as I am not a qualified technician and that will
delay the proper response you can get from the right person.
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How to prepare for the exam?
• Redo the examples and demonstration problems in the
lecture notes and then compare your answers with the
solutions provided.
• Redo the tutorial questions and then compare your answers
with the solutions provided.
• Review the material in the lecture notes and textbook, trying
to understand all the concepts, definitions, methods,
requirements, formulas and examples.
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• An on-screen calculator (or you can use your Window’s calculator) and
Whiteboard in Proctorio will be available.
• You can get access to Merriam Webster online dictionary (https://www.merriam-
webster.com/) (the only dictionary you can use) by using the same computer that
you are using to do your exam
• For taking notes or calculation, you can use WORD but not EXCEL
• A standalone calculator is not allowed
• Scribble paper and pen are not allowed
• Earphones or headphones are not allowed during the exam
• There will be a requirement for 360-degree room recording before the exam and you
are required to show your entire desk as empty and no notes or course materials
on your desk. Except for facial tissues and a bottle of water, there should be
nothing else on your desk.
• You are all granted extra 5 minutes and you can also use the 15-minutes reading
time to answer any questions in the exam. Please use the mock test (details
following) to get used to the setting.
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Preparation: What items or tools are allowed in the
exam?
• You need to use a computer (i.e. a desktop or a laptop) when attempting the
exam with Proctorio enabled on your internet browser. It is recommended to
use Chrome Web Browser, but you can also use Microsoft Edge, Opera or
Brave with the Proctorio extension enabled. You won’t be able to use a tablet
or smartphone. The following are ways to address any display issues:
– increase the screen resolution of your computer monitor
– close the Wattle navigation bar on the left hand side of the screen
– maximise the browser window on your computer to ensure all text is visible. If
some text is still not visible when the window is displayed on the full screen, try
minimising the text font size by pressing CTRL + "-" (on PC) or COMMAND + "-"
(on Mac) so that all of the text fits in the window
- scroll all the way down to the bottom of your screen, then you will see the
horizontal scroll bar
- shift it from left to right (drag it from left to right) then you will see the missing part
of that question
• A webcam for video recording purpose
• A microphone for audio recording purpose (but you are not allowed to wear
earphones or headphones during the exam)
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Preparation: Hardware
– You need to have a reliable internet connection. Find a place with good
internet connection if yours does not work well. You may wish to
consider having a back up internet connection. This could take the form
of using your phone as a hotspot in the event of internet failure on your
computer, but your phone has to be placed in other place than on your
desk.
– Technical issues: you are strongly advised to make sure you have
stable internet connectivity before your exam starts and the stability
should be maintained during your exam. If technical difficulties prevent
you from completing the exam, you need to provide sufficient evidence
(e.g., time-stamped screenshots, photos and videos) immediately after
the problems occur. However, no special consideration or deferred
examination can be guaranteed without professional judgement on the
evidence.
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Preparation: Internet
– A mock test will be available for one week before the exam:
• For the period between 12:00am 5th June to 17:00 pm on 9th June to
identify and solve all the possible technical issues before the exam.
– You must attempt at the mock test and submit your answers (it doesn’t
matter if your answer makes any sense) to be eligible for special
consideration due to technical issues. To be specific, if you have not
attempted at the mock test before the exam and experienced technical
issues during the exam, no special consideration will be granted for this
issue. (though attempting a mock test does not guarantee a grant for special
consideration either)
– You can attempt at the mock test multiple time during the open windows.
– You can also use the mock test to get used to built-in calculator (or
windows calculator) and white board (or WORD document) as no stand-
alone calculator, Excel, pen or scribble paper are allowed during your exam.
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Preparation: Mock test
Lecture 6: Financial instruments
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- Definition: financial instrument, financial asset, financial liability, and
equity instrument
- Distinguish between financial liabilities and equity instruments
- The concept of a compound financial instrument
- The consequential effects of financial instrument classifications for
dividends, interest, and gains and losses.
- The requirements for the derecognition/offsetting of a financial
asset/liability.
- The requirements for the initial and subsequent measurement of a
financial asset or a financial liability and prepare entries to apply these
requirements in specific cases.
- The disclosures that are required for financial instruments.
Sub-topics:
Lecture 7: Leases
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Sub-topics:
• Definition of a lease
• Definition of Lessee and Lessor
• Operating versus Finance Lease
• Lease Accounting: lessor and lessee
– financier or a manufacturer/dealer.
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Sub-topics:
• Introduction to business combinations
• Concept of control
• Acquisition method to account for business
combinations
• Subsequent adjustments to the initial accounting for
business combinations
• Consolidation
Lecture 8: Introduction to business
combinations and consolidation issues
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Lecture 9&10:
Accounting for wholly owned subsidiaries
Sub-topics:
• The consolidation process
• Acquisition analysis
• Business combination valuation entries
• Pre-acquisition entries
• Consolidation after the date of acquisition
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Lecture 11:
Accounting for intragroup transactions
Sub-topics:
• Introduction to intragroup transactions
• Accounting for intragroup sales of inventory
• Accounting for intragroup sales of non-current assets
• Accounting for transfers between inventory and non-
current assets
• Accounting for intragroup services
• Accounting for intragroup dividends
• Accounting for intragroup borrowings
Lecture 12:
Share capital and reserves
Sub-topics:
• Equity
• Key features of a corporate structure
• Different forms of share capital
• Accounting for share issues
• Rights issues and option issues
• Bonus issues
• Conversion of shares
• Reserves
• Disclosure
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Lecture 12:
Provisions and contingent liabilities
Sub-topics:
• the concept of a provision and how it is distinguished
from other liabilities
• the concept of a contingent liability and how it is
distinguished from other liabilities
• when a provision should be recognised
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• You are expected to have read and understood the ANU's Academic
Integrity Rule. Any conduct of a kind mentioned in Rule 12(2) will be
referred to Academic Standards and Quality Office for integrity
investigation.
• Students must work by themselves and not discuss the questions with
anyone else.
• Students should not screenshot the questions and answers, and
communicate them with any other students or external parties.
• Students are not allowed to get access to any course materials either
online or printed versions;
• Students are not allowed to get access to any items/tools that are
clearly identified as “not allowed”;
• As per the ANU Academic Integrity Rule, if a student cheats, engages in
plagiarism or improperly colludes with another person, this is academic
misconduct in relation to an assessment.
Important notes
• First, solve your display issues before the exam by referring to previous
slide;
• Second, our questions can be as long as you have seen in the lecture notes
and tutorial questions. If you can not see a complete question due to the
length of the question
- scroll all the way down to the bottom of your screen, then you will see the horizontal scroll
bar
- shift it from left to right (drag it from left to right) then you will see the missing part of that
question
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What if I can not see a complete question due to my screen
size or the length of the question?
How do I save and submit my work?
• When taking the Wattle quiz, the system saves your work when:
– You navigate between questions on different pages
– You click on “Submit all and finish” at the end of quiz
– The quiz times out at the end of the exam duration and your answers
will be automatically saved
• Some of the questions are quite long, which means that if you are ejected
from the exam (due to poor internet, etc.) and have not clicked into the next
question, you could lose quite a bit of work. To minimise this risk, I suggest
you 'toggle' between questions (ie. go forward to the next question and then
back), which will force a save in Wattle because the exam is designed for
autosave when you navigate to the next question.
• As only one attempt is allowed for this exam, you will not be permitted to
redo the quiz once you have click on the “Submit all and finish” button in the
Confirmation pop-up box.
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Q&A for Proctorio
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Proctorio does not ask for a password. Proctorio does not ask for a password until and
unless there is a delay in loading the Proctorio Setting on the exam page. This could
happen because of a bad internet connection. Things worth checking on the students'
side would be:
- 1. DO NOT use 3rd Party VPN to attempt Proctorio Exam. If a VPN is a must, connect to
our GlobalProtect. (https://services.anu.edu.au/information-technology/login-
access/remote-access)
- 2. Use a reliable and high-speed internet connection (We recommend a wired
connection)
- 3. Do not press the "Attempt Quiz" button till the time you see this message "Proctorio
will monitor this exam. Learn more about Proctorio." Be reminded, always wait until
this message appears on the screen before clicking the "Attempt Quiz" button.
Proctorio needs time to load all settings, and the message is the indicator of loading
completion. (It could take a few minutes depending on internet speed).
- 4. If you ignore step 3, you will be asked for a password. This indicates the exam
settings are not correctly loaded. They need to quit the page and attempt the exam
again and care for step 3.
Please note that having a reliable and high-speed internet connection is a must. Proctorio
needs high bandwidth to provide a smooth experience during the exam. Therefore,
technical team do not recommend using mobile hotspot/cafe/hotel wifi and 3rd Party
VPN to attempt the Proctorio exam.
Q&A on Proctorio
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Q: When I show my exam environment through 360-degree room recording, the
camera may be tilted, so the picture shown is a tilted angle.
A: Not a problem. Just move your camera slowly. It will be good enough if it
captures the surroundings and your desktop.
Q: It is hard for me to take 360-degree room recording because I use wired
network.
A: you don’t need to take your camera to every corner in room neither do you need
to make big movements of your computer or the camera. What you need to do is to
make sure your computer/camera can turn a 360 degree to capture your
surroundings. And you need to make sure your computer camera can scan your desk
which shows that there is nothing else except for facial tissues and a bottle of water
(if you prefer to use them).
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Q&A on Proctorio
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Q: Proctorio fails during the System Diagnostics Test as it does not recognise my
microphone.
A: To pass the microphone diagnostic, you would need to tap near where the built in
microphone is on your laptop. You can also try to tap around the laptop keyboard.
Q: Can I use two monitors because my laptop’s screen is very small
A: Sorry but no. The reason is the same as why we do not allow any course materials or
any other books (even if they are irrelevant to the exam) on your desk during the exam.
If you are on campus, you can book a library computer for exam. If you are at home and
your laptop is too small for exam, please try to arrange an alternative setting (e.g. a
desktop computer) to achieve your best performance.
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Q&A on Proctorio
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Q: Do we need to go back to previous questions to get information for the
question that I am working on?
A: no, you don’t. Every question is designed to be displayed on one single page.
Q: I am wondering whether I can reconnect if I fail to enter the exam or submit
the exam (it also takes more than 2 minutes).
A: Yes, you will be able to do so. While waiting, ignore the request for Proctorio
password (there is no such password) and patiently wait until Proctorio goes
through. Do not keep refreshing the webpage because it will only delay the
response from Proctorio.
Q&A on Proctorio: Moodle 4.0 Proctorio Tips
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2. Please do not click the "back" button
when they are in the exam. Doing so will
direct them back to the quiz home page,
which can lead to pre-exam checks
again.
Navigation:
1. You can open and close the navigation
block by clicking the bookmark button on
the right side of the window2.
Q&A on Proctorio: Moodle 4.0 Proctorio Tips
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Getting back to the exam:
If you get kicked out of the exam for whatever reasons, or your
browser crashed during the exam, you should simply log back in
and continue the attempt.
Calculator can’t be closed:
If the in-exam calculator’s close button is
unclickable, simply click the calculator
button in the Proctorio floating panel (the
same button to display the calculator in the
first place) to close the calculator. This will
also reset the position of the calculator
window.
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To help you succeed in the exam:
Extra Consultation During Exam Period
30th May Tuesday 11:00-12:00 In-person 2045 PAP Moran 21B
31st May Wednesday15:00-16:00 In-person 1022 PAP Moran 21
1st June Thursday 11:00-12:00 Online https://anu.zoom.us/j/85208722510?pwd=aEJ3cGZOZmY1VGR3YkdwMXVNai8yUT09
2nd June Friday 10:00-11:00 Online https://anu.zoom.us/j/91727441194?pwd=aDVCVHo5Qlo0MGlSWm42WDZpNW4wQT09
6th June Tuesday 11:00-12:00 In-person 2045 PAP Moran 21B
7th June Wednesday15:00-16:00 In-person 1022 PAP Moran 21
8th June Thursday 11:00-12:00 Online
https://anu.zoom.us/j/85208722510?pwd=aEJ3cGZOZmY1VGR3YkdwMXVNai8yUT09
9th June Friday 10:00-11:00 Online https://anu.zoom.us/j/91727441194?pwd=aDVCVHo5Qlo0MGlSWm42WDZpNW4wQT09
After the exam
• ANU Examination guidelines state that, “You must
not communicate with a course examiner about an
examination you have undertaken in the period
between sitting the examination and the formal
release of results".
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SELT Teaching Evaluation
• In your student email ‘ANU Student
Evaluations’
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Thank you!
• Wish you the best luck for your exam and
your future!
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