AFF9631

Financial accounting II

Professor Claudio Romano

6 points · 3 hours per week, or equivalent · First, second, summer semester · Caulfield, Sydney, Singapore, Hong Kong, in-house (not offered in all locations in all semesters) · Prerequisite: AFF9601

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 three hours seminar sessions 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 Class test (30 minutes): 10% · Research project (2500-3000 words): 30% · Examination (3 hours): 60%

Prescribed texts

Godfrey J and others Accounting theory 3rd edn, Wiley, 1997
Whittred G, Zimmer I and Taylor S Financial accounting: Incentive effects and economic consequences Holt, Rinehart and Winston, 1995

Back to the 1999 Business and Economics Handbook