Faculty of Business and Economics

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Monash University

Monash University Handbook 2011 Undergraduate - Unit

6 points, SCA Band 3, 0.125 EFTSL

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

FacultyFaculty of Business and Economics
OfferedClayton First semester 2011 (Day)
Clayton Second semester 2011 (Day)


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.


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.


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

Chief examiner(s)

Vicor Borg

Contact hours

3 hours per week




AFF3491, AFG3040, AFG3050, AFW3040, AFW3050