ACCG3008 Corporate Accounting and Business Advisory

Online Quiz 2 (13%) Information Sheet

Session 1, 2022

Weight 13%

Date and start time 2pm, Saturday 30 April (Sydney time)

Duration/time limit 70 minutes

Quiz window time • The online quiz will be open on iLearn from 2pm to 3:10pm on 30 April
(Sydney time).
• You must complete and submit the quiz within that time.
• Once you start the quiz, the timer will not pause for any reason.

Lecture topics covered • Week 3 Purchase consideration 2 (Consolidation after control date)
• Week 4 Intragroup transactions
• Week 5 Direct non-controlling interest
• Week 6 Equity accounting
• Week 7 Introduction to foreign currency transactions & financial instruments

Type and number of • Quiz 2 is an open-book assessment containing TWO practical questions and
questions FOUR multiple-choice questions. Each practical question may include
multiple parts.
• Question One relates to Weeks 3–5 Consolidation Accounting lecture topics.
You are required to prepare the necessary consolidation journal entries and
calculate NCI allocation of a subsidiary’s equity.
• Question Two relates to Week 6 lecture topic Equity Accounting. You are
required to prepare the necessary journal entries.
• If a question has multiple parts, some parts may require you to write short
answers to show your understanding of relevant accounting treatment.
• Questions Three – Six are multiple-choice questions covering Week 7 lecture
topic Introduction to Foreign Currency Transactions & Financial Instruments.
• The order of questions is randomized in Quiz 2.
• Income tax effects on consolidation are NOT examined in Quiz 2.

How to prepare for the Quiz questions are similar to lecture examples and homework questions. Ensure that
quiz? you have sufficient practice on these questions and understand the appropriate
accounting treatment discussed in lectures and demonstrated by lecture examples.
For example, the content and format of Question One are similar to the Week 6 in-
class question that requires preparing the necessary consolidation journal entries
and calculating NCI allocation of a subsidiary’s equity. The question was discussed
in the Week 6 tutorials and the Week 6 tutorial is recorded and available to view on
iLearn.
Sample quiz A sample quiz will be available on iLearn during the mid-session break to help you
become familiar with the setting and layout of ACCG3008 online quiz. The journal

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 entry template will be given in the answer box. You can type your journal entries
using the template.
Where on iLearn will Coming soon to iLearn. Will be under the Assessment | Quiz 1 and Quiz 2 (2pm,
the quiz be located? 30 April) section on iLearn.
One attempt only You are allowed only ONE ATTEMPT to complete the quiz.
Quiz instructions So far, you should be familiar with the quiz setting on iLearn, given that most/all of
you have experienced online quizzes/examinations (using the quiz setting). Please
see reminders below.
Reminders:
• Please ensure you have a suitable and quiet environment to complete the quiz.
Before the quiz, check that your computer/laptop is charged and the Internet is
working. It is recommended that Chrome or Firefox be your browser. You
should have phone data as a backup for hotspotting.
• While in the quiz, Do Not use the browser Back or Forward buttons.
• Once you begin your quiz attempt, you will see the timer start in the top right
corner.
• Use the Next page button at the base of the screen to save and move to the next
page of questions.
• Clicking Save and review on the final page will take you to a summary screen,
which indicates the questions you have answered. If you have missed any
questions, click on Return to attempt.
• When you are happy that all questions have been answered, please click the
Submit all and finish button at the base of the summary screen.
• This is an INDIVIDUAL assessment, and you must complete the quiz yourself
and not obtain assistance from another person. Please be familiar with
University policies regarding academic honesty and academic integrity.

What if I am unable to Please lodge a special consideration application with supporting documentation
take the quiz? ASAP. If your special consideration application is approved by the MQBS student
administration team, you will be granted a supplementary quiz.

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