AFC3120 - Advanced financial accounting

Offered

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

Synopsis

Topics include accounting standard-setting arrangements; the conceptual framework for financial reporting; the form and content of financial statements; income tax allocation; intangibles; off-balance sheet financing including leasing; superannuation plans; insurance; employee benefits; financial instruments and emerging issues in financial reporting.

Objectives

The learning goals associated with this unit are to:

• explain the institutional framework for the regulation of financial reporting in Australia
• apply accounting standards and the framework in the preparation and presentation of financial statements
• demonstrate advanced accounting knowledge in areas such as income tax, leasing, intangibles and financial instruments
• demonstrate an understanding of theories that explain accounting policy choice and usefulness of accounting information
• apply critical thinking and problem solving skills to individual and /or group activities dealing with advanced financial accounting.

Assessment

Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

Two 1-hour lectures and one 1-hour tutorial per week

Prerequisites

AFC2120

Prohibitions

AFF3491, AFW3040, AFW3050