AFF3491 - Advanced financial accounting theory and practice

Offered

Caulfield First semester 2009 (Day)
Caulfield First semester 2009 (Evening)
Caulfield Second semester 2009 (Day)

Synopsis

The unit is a blend of advanced and controversial practical accounting issues and underlying theories that support prescribed accounting treatments of these issues. Attention is concentrated on the interaction between the accounting profession and relevant segments of the society, including industry, capital markets, government and other user groups.

Objectives

The learning goals associated with this unit are to:

• critically assess standard setting procedures and the theories of regulation
• discuss theories to explain accounting policy choices and the relevance of accounting numbers to capital markets
• explain the definition and recognition criteria for elements of financial reports and issues associated with their application
• examine contemporary financial accounting issues including financial instruments and intangibles
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with advanced financial reporting issues.

Assessment

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

Contact hours

3 hours per week

Prerequisites

AFF2491

Prohibitions

AFC3120, AFW3040, AFW3050