Monash University Handbook 2010 Undergraduate - Unit

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:

1. explain the institutional framework for the regulation of financial reporting in Australia
2. apply accounting standards and the framework in the preparation and presentation of financial statements
3. demonstrate advanced accounting knowledge in areas such as income tax, leasing, intangibles and financial instruments
4. demonstrate an understanding of theories that explain accounting policy choice and usefulness of accounting information
5. apply critical thinking and problem solving skills to individual and/or group activities dealing with advanced financial accounting and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFC3120.

Assessment

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

Chief examiner(s)

Vicor Borg

Contact hours

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

Prerequisites

AFC2120

Prohibitions

AFF3491, AFW3040, AFW3050