Monash University Handbook 2010 Postgraduate - Unit

Synopsis

Topics include the standard-setting and regulatory framework in Australia; the various authoritative pronouncements and guidelines emerging from the conceptual framework; accounting for financial derivatives; accounting for foreign currency; intangible assets; jointly controlled ventures and the theoretical underpinnings of these topics.

Objectives

Our graduates will:

• apply a range of theories of accounting to explain financial accounting and reporting practices and appreciate the judgments, estimations and assumptions influencing accounting numbers
• critically assess and appreciate changing influences in standard setting; the compliance regime in capital markets and impacts of regulatory requirements on financial reporting practices
• assess the role of financial accounting in sustainable development and corporate social and environmental performance reporting
• analyse a range of financial reporting issues, including intangible assets, financial instruments and foreign currency transactions, from both a practical and theoretical perspective; and demonstrate effective individual research skills to produce professional quality business documents to solve financial accounting problems; and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered by this unit.

Assessment

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

Chief examiner(s)

Michaela Rankin

Contact hours

3 hours per week

Prerequisites

AFX9500

Co-requisites

AFX9530

Prohibitions

AFF9631, AFG9040, AFX5631