AFW3050 - Financial accounting issues

Leader: Dr Mahendra Goyal

Offered

Berwick First semester 2007 (Day)
Gippsland First semester 2007 (Day)
Gippsland First semester 2007 (Off-campus)
Hong Kong First semester 2007 (Off-campus)
Malaysia First semester 2007 (Day)
Malaysia Second semester 2007 (Day)
Peninsula First semester 2007 (Day)
Singapore First semester 2007 (Off-campus)

Synopsis

To provide students with an advanced understanding of various corporate accounting issues in accordance with the Australian accounting standards and statutory requirements. Financial accounting issues are: institutional setting and the conceptual framework; accounting for leases; accounting for employee benefits; accounting for financial instruments; segment reporting; accounting for EPS; accounting for extractive industries; accounting for self generating and regenerating assets; financial reporting in the public sector; international accounting standards and harmonisation; foreign currency translation; and social and environmental reporting.

Objectives

The learning objectives of this unit are to:

• acquire advanced knowledge of the preparation of financial statements in accordance with the requirements of accounting standards and statutory laws;
• describe the accounting standard setting framework and discuss contemporary accounting issues;
• demonstrate advanced accounting knowledge in areas such as employee benefits, leasing, segment reporting and financial instruments;
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial accounting issues.

Assessment

Tutorial: 5%
Assignments: 35%
Examination: 60%
OCL: Assignments: 40%
Examination: 60%

Contact hours

3 hours per week

Prerequisites

AFW2491