AFC3220 - Comparative international financial reporting

Offered

Clayton Second semester 2009 (Day)

Synopsis

An understanding of the dynamic nature of financial reporting frameworks in different countries with an emphasis on the Asia-Pacific region and the influence of the International Accounting Standards Board. Major topics are: the influence of cultural and social values on reporting; comparison of the financial reporting systems and practices in such harmonisation and the IASB's role; and audit implications of international financial reporting.

Objectives

The learning goals associated with this unit are to:

• critically evaluate theories relating to the comparative study of financial reporting practices in diverse countries
• compare and contrast the main international financial reporting systems and practices, and critically evaluate the need for harmonisation
• identify and explain the major contemporary international financial reporting issues and analyse their implications for comparative national reporting practices; harmonisation initiatives, and the activities of the International Accounting Standards Board
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with comparative international financial reporting.

Assessment

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

Contact hours

Thirteen 2-hour lectures and twelve 1-hour tutorials

Prerequisites

AFC2120

Prohibitions

AFF3791