Year
2021
Units
4.5
Contact
1 x 2-hour lecture weekly
1 x 2-hour tutorial weekly
Prerequisites
BUSN1002 - Financial Accounting Processes
Enrolment not permitted
BUSN2005 has been successfully completed
Topic description

This topic examines selected issues in financial accounting and reporting. Current and proposed accounting standards and generally accepted accounting principles are considered and evaluated within the conceptual framework for financial reporting. Topics to be examined may include: disclosure in corporate reports; accounting for leases; foreign currency translation; intangibles; segment reporting; extractive industries accounting.

Educational aims

This topic aims to introduce students to financial accounting issues, and develop their ability to appraise these issues based upon the conceptual framework for financial reporting. It provides students with a detailed knowledge of the impact of specific regulatory requirements, particularly applicable accounting standards, upon reporting entities' accounting procedures. The topic provides students with an understanding of specific accounting standards, illustrates the accounting procedures required, gives a theoretical understanding of the principles involved, and outlines the relevant disclosure requirements. It develops students' ability to critically evaluate these accounting and reporting requirements. In addition, the topic aims to develop:

  • Generic cognitive skills (especially analytical and evaluative skills)
  • Behavioural skills (especially personal and interpersonal skills) which can be employed in an organisational work environment
Expected learning outcomes
On completion of this topic you will be expected to be able to:

  1. Discuss and appraise a range of financial accounting issues in the context of the conceptual framework for financial reporting
  2. Describe the impact of specific regulatory requirements, particularly applicable accounting standards, upon reporting entities' accounting procedures
  3. Critically evaluate and apply a range of accounting standards

Key dates and timetable

(1), (2)

Each class is numbered in brackets.
Where more than one class is offered, students normally attend only one.

Classes are held weekly unless otherwise indicated.

FULL

If you are enrolled for this topic, but all classes for one of the activities (eg tutorials) are full,
contact your College Office for assistance. Full classes frequently occur near the start of semester.

Students may still enrol in topics with full classes as more places will be made available as needed.

If this padlock appears next to an activity name (eg Lecture), then class registration is closed for this activity.

Class registration normally closes at the end of week 2 of each semester.

Classes in a stream are grouped so that the same students attend all classes in that stream.
Registration in the stream will result in registration in all classes.
  Unless otherwise advised, classes are not held during semester breaks or on public holidays.