Monash University Handbook 2011 Undergraduate - Unit

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

Synopsis

The current Australian reporting and regulatory framework applicable to reporting entities including an analysis of significant accounting standards, professional reporting requirements and legal and stock exchange requirements. Accounting for corporate groups and issues in financial reporting are also explored.

Objectives

The learning goals associated with this unit are to:

1. explain the nature and regulation of companies in Australia
2. apply accounting standards and the framework in the preparation and presentation of financial statements for both single and consolidated entities
3. demonstrate accounting knowledge in areas such as company operations, taxation, property, plant and equipment (acquisition and impairment), and group accounting
4. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with company reporting and demonstrate in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in AFG2491.

Assessment

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

Prerequisites

Students must have passed AFW1000 and AFW1002 or AFG1000 and AFG1002 before undertaking this unit.

Prohibitions

AFC2120, AFF2491, AFW2491