Advanced accounting
Professor Graham Peirson
6 points * Two 1-hour lectures and one 1-hour tutorial per week * First semester * Clayton * Prerequisite: AAF2120
Objectives On completion of this subject, students should be able to explain the institutional framework for the regulation of financial reporting in Australia; analyse, using statements of accounting concepts and accounting standards, alternative solutions to controversial issues in financial reporting; prepare general purpose financial reports in accordance with accounting standards and statutory requirements; explain current emerging issues in financial reporting.
Synopsis This subject will consider some of the issues in financial reporting. Topics covered include the standard-setting arrangements; the conceptual framework for financial reporting; the form and content of financial statements; income tax allocation; intangibles; extractive industry reporting; off-balance sheet financing including leasing; foreign currency translation; superannuation plans; general insurance; employee entitlements; financial instruments and emerging issues in financial reporting.
Assessment Mid-semester test (1.5 hours): 20% * Practical work * Examination (3 hours): 80%
Prescribed texts
Australian Society of CPAs and the Institute of Chartered Accountants in Australia Accounting handbook Prentice-Hall, 1994
Henderson M S and Peirson C G Issues in financial accounting 6th edn, Longman Cheshire, 1993