AFC3120 - Advanced financial accounting

Leader: Associate Professor Alan Ramsay

Offered

Clayton First semester 2007 (Day)

Synopsis

Topics include accounting standard-setting arrangements; the conceptual framework for financial reporting; the form and content of financial statements; income tax allocation; intangibles; off-balance sheet financing including leasing; superannuation plans; general insurance; employee benefits; financial instruments and emerging issues in financial reporting.

Objectives

The learning objectives of this unit are to:

• explain the institutional framework for the regulation of financial reporting in Australia
• apply accounting standards and the framework in the preparation and presentation of financial statements
• demonstrate advanced accounting knowledge in areas such as income tax, leasing, intangibles and financial instruments
• apply critical thinking, problem solving and presentation skills to individual and /or group activities dealing with advanced financial accounting.

Assessment

Two mid-semester tests (1.25 hours): 20% Tutorial preparation: 10% Examination (3 hours): 70%

Contact hours

Two 1-hour lectures and one 1-hour tutorial per week

Prerequisites

AFC2120