Financial accounting II
Dr Sheikh Rahman
6 points (MPracAcc), 4 points (Grad Dip) * 39 hours per semester * First, second, summer semester * Caulfield, Sydney, Singapore (not offered in all locations in all semesters) * Prerequisite: ACC6601
Objectives On completion of this subject students should be able to identify and critically assess the prevailing conventions, doctrines and principles of accounting; assess the quality of accounting standards in providing measurement and disclosure constraints on the preparers of accounts; develop an awareness of issues involved in identifying and measuring assets, liabilities, revenues, expenses and profit; handle some currently debated difficult accounting measurement and disclosure issues and to demonstrate a mastery of the topics involved.
Synopsis The subject involves seminar sessions of 3 hours each of which are designed to explore essential topics, such as, the standard-setting and regulatory framework in Australia, the various authoritative pronouncements and guidelines emerging from the conceptual framework, accounting for foreign currency translation, long-term finance, leases, goodwill and other intangibles, cash flow reporting, complex group structures involving trusts and joint ventures and the theoretical underpinnings of these topics; research and investigation of practical accounting issues are also involved in the subject.
Assessment Two class tests (30 mins each): 10% * Research project (2500-3000 words): 30% * Final examination (3 hours): 60%
Prescribed texts
Godfrey J and others Accounting theory 2nd edn, Wiley, 1993
Whittred G and Zimmer I Financial accounting: incentive effects and economic consequences Holt, Rinehart and Winston, 1992