AFC2120 - Financial accounting

Offered

Clayton First semester 2009 (Day)
Clayton Second semester 2009 (Day)

Synopsis

Topics include financial reporting requirements and the reporting entity; accounting for interests in joint ventures; accounting for extractive industries; the nature of company groups; the preparation of consolidated financial reports; foreign currency translation; equity accounting; related party transactions; and segment reporting.

Objectives

The learning goals associated with this unit are to:

• prepare group financial reports
• demonstrate accounting knowledge in areas such as equity accounting, foreign currency translation, related party transactions, joint arrangements and segment reporting
• apply critical thinking, problem solving and presentation skills to individual and /or group activities dealing with financial reporting.

Assessment

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

Contact hours

Three hours per week

Prerequisites

AFC1030

Prohibitions

AFF2491, AFW2491