Offered

South Africa First semester 2008 (Day)

Synopsis

An intermediate financial accounting unit, this provides an overview of the accounting environment through an examination of selected topics in accounting theory: the reporting and regulatory environment, positive accounting theory, social and environmental reporting, internationalisation of accounting and alternative approaches in accounting theory. The unit also
provides an overview of selected topics in financial accounting which form a basis for further studies in financial accounting. These include an introduction to group accounting, and an examination of the International Financial Reporting Standard concerning the Presentation of Financial Statements.

Objectives

The learning objectives of this unit are to:

• describe the financial reporting and regulatory environment, the various theoretical approaches and the issues surrounding the internationalization of accounting practices;
• explain and evaluate alternative approaches in accounting theory, including positive, behavioural, interpretive and critical perspectives;
• explain the relevance of social and environmental accounting and the contributions made by accounting research in this area;
• apply key aspects of the accounting standards relating to the presentation of financial statements;
• explain and apply elementary principles of group statements;
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial accounting.

Assessment

Within semester assessment: 40%
Examination (3 hours): 60%.

Contact hours

One 2-hour lecture and one 1-hour tutorial

Prerequisites

AFW1002