AFW3004 - South African financial accounting issues

Leader: Mr Andrew West

Offered

South Africa First semester 2007 (Day)

Synopsis

Framework for the preparation and presentation of financial statements, presentation of financial statements, accounting for income taxes, earnings per share, fundamental errors, changes in estimates, changes in accounting policies, provisions, contingent liabilities, contingent assets, leases, construction contracts, foreign exchange transactions, revaluation of property, plant and equipment, intangible assets, segment reporting and fair value accounting.

Objectives

The learning objectives of this unit are to:

• explain the key concepts that are relevant for selected topics in financial accounting, the need for accounting standards, and the areas of debate and difficulty;
• apply the accounting principles prescribed in international standards to specific problems, at an advanced level;
• explain how companies apply the standards in their annual financial reporting;
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial accounting.

Assessment

Assignment (up to 3000 words): 15%
Mid-semester test 15%
Examination (3 hours): 70%

Contact hours

One 2-hour lecture and one 1-hour tutorial

Prerequisites

AFW2042