Financial accounting
Mr Richard Hartshorn, Ms Jodie Maxfield and Ms Luba Trauner
6 points * One 1-hour lecture and one 2-hour tutorial per week * Distance approximately 12 hours per week * Second semester * Gippsland * Prerequisite: GBU1002
Objectives This subject builds on accounting principles taught in prerequisite subjects. It aims to provide students with understanding of corporate accounting in accordance with accounting standards and statutory requirements for preparation of financial reports. Students will develop knowledge of the practical application of current standards, and will learn to critically evaluate the reasoning behind the development of selected standards.
Synopsis Influences on the nature and objectives of financial accounting; profit determination and distribution; the reorganisation of share capital; the profit and loss, balance sheet and cash flow statements; the nature and recognition of assets, covering intangible assets and expenditure carried forward, tax effect accounting, extractive industries, leasing, real estate and construction; the nature and recognition of liabilities and segmental reporting.
Assessment Assignments: 35% * Examination (3 hours): 65%
Prescribed texts
Jager M and others (eds) Company accounting procedures 6th edn, Butterworths, 1994
Australian Society of Certified Practising Accountants and the Institute of Chartered Accountants Accounting handbook 1995 Prentice-Hall, 1995