Hello, if you have any need, please feel free to consult us, this is my wechat: wx91due
Overview
This subject focuses on more advanced external financial reporting obligations applicable to entities within the framework of the Australian reporting environment. In particular, it examines key technical Accounting Standards integral to the preparation of general purpose financial statements by reporting entities. It also considers the theories that help explain why financial accounting exists as well as what motivates and affects the judgements of managers when making financial accounting reporting decisions. Finally, it critically reviews important contemporary accounting issues affecting the business community under consideration by accounting standard setters.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Identify and explain the theories that explain why financial accounting exists and the accounting choices made by managers;
- Record and disclose transactions and events applying the provisions of key Accounting Standards;
- Critically evaluate how well these standards appropriately incorporate the principles as outlined in the Conceptual Framework;
- Identify and explain contemporary financial accounting reporting issues affecting the business community and being considered by standard setters;
- Identify and explain financial reporting disclosure and presentation issues as part of an annual report; and
- Explain the implications for financial reporting arising from alternative accounting policy choice decisions faced by management.
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- High level of development: application of theory to practice; evaluation of data and other information.
- Moderate level of development: critical thinking; written communication; problem solving; interpretation and analysis; receptiveness to alternative ideas; synthesis of data and other information.
- Some level of development: oral communication; collaborative learning; team work.
Assessment
| Description | Timing | Percentage |
|---|---|---|
|
Assessment of Preparation Activities
|
Throughout the semester | 20% |
|
Online Quizzes
|
Throughout the semester | 20% |
|
End-of-semester Examination
|
During the examination period | 60% |