Offered
Clayton First semester 2008 (Day)
Clayton Second semester 2008 (Day)
Synopsis
A conceptual framework for accounting; definition and recognition of assets, liabilities, equity, revenues and expenses (including inventory valuation, depreciation and non-current assets); form and content of published general purpose financial reports; price-level accounting, alternative accounting measurement systems; analysis and interpretation of financial statements.
Objectives
The learning objectives of this unit are to:
- describe the definitions and recognition criteria for assets, liabilities, equity, income and expenses;
- evaluate and compare alternative measurement systems;
- demonstrate how the analysis and interpretation of accounting information can assist in making investment and financing decisions;
- apply critical thinking, problem solving and presentation skills to individual and /or group activities dealing with financial accounting.
Assessment
Within semester assessment: 35%
Examination (3 hours): 65%
Contact hours
Two 1-hour lectures and one 1.5-hour tutorial per week
Prerequisites
AFC1021 or AFC1022
Prohibitions
AFF1121, AFW1002
