Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be able to identify and critically assess the prevailing conventions, doctrines and principles of accounting; assess the quality of accounting standards in providing measurement and disclosure constraints on the preparers of accounts; develop an awareness of issues involved in identifying and measuring assets, liabilities, revenues, expenses and profit; handle some currently debated difficult accounting measurement and disclosure issues and to demonstrate a mastery of the topics involved.
Synopsis The subject involves three hours seminar sessions each of which are designed to explore essential topics, such as: the standard-setting and regulatory framework in Australia; the various authoritative pronouncements and guidelines emerging from the conceptual framework; accounting for foreign currency translation; long-term finance; leases; goodwill and other intangibles; cash flow reporting; complex group structures involving trusts and joint ventures and the theoretical underpinnings of these topics. Research and investigation of practical accounting issues are also involved in the subject.
Assessment Two class tests (30 mins each): 10% + Research project (2500-3000 words): 30% + Examination (3 hours): 60%