Faculty of Business and Economics

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Monash University

Monash University Handbook 2010 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

FacultyFaculty of Business and Economics
OfferedCaulfield First semester 2010 (Day)
Caulfield First semester 2010 (Evening)
Caulfield Second semester 2010 (Day)


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.


The learning goals associated with this unit are to:

  1. critically assess standard setting procedures and the theories of regulation
  2. discuss theories to explain accounting policy choices and the relevance of accounting numbers to capital markets
  3. explain the definition and recognition criteria for elements of financial reports and issues associated with their application
  4. examine contemporary financial accounting issues including financial instruments and intangibles
  5. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with advanced reporting issues and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFF3491.


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

Chief examiner(s)

Dot Cochrane

Contact hours

3 hours per week




AFC3120, AFW3040, AFW3050