AFG9073

Financial accounting

Dr Mahendra K Goyal

6 points · Distance, approximately 12 hours per week · Second semester · Gippsland · Prerequisite: AFG9071

Objectives This subject builds on the fundamentals of accounting principles taught in the prerequisite subjects. Students develop a thorough understanding of corporate accounting in accordance with the accounting standards and statutory requirements for the preparation of financial reports. Students will learn about the practical application of the current standards and are expected to critically evaluate the reasoning behind the development of selected standards.

Synopsis The specific issues that are addressed in this subject are the 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, tax effect accounting, accounting for leases superannuation and insurance, liquidations, consolidations - introduction, inter-company transactions, outside equity interest, equity accounting and foreign currency transactions.

Assessment Assignments: 20% · Research essay (2000 words): 20% · Examination: 60%

Prescribed texts

Australian Society of Certified Practising Accountants and The Institute of Chartered Accountants The accounting handbook Prentice-Hall, 1998
Leo and Hoggett Company accoutning in Australia 4th edn, 1998
Carnegie, Gavens and Gibson Cases in financial accounting 3rd edn, Harcourt Brace, 1996

Back to the 1999 Business and Economics Handbook