Authorised by Academic Registrar, April 1996
Objectives On successful completion of this subject students should have developed an appreciation of the attributes of a profession and a professional body; an understanding of basic ethical theories and of the Australian Society of CPAs Code of Professional Conduct; a knowledge of the arguments for and against the regulation of financial reporting; a knowledge of the nature of financial accounting and standard setting; a knowledge of the institutional arrangements regulating financial reporting in the private and public sector, and the conceptual framework project of the Australian Accounting Research Foundation (AARF), and a thorough understanding of selected statements of accounting standards.
Synopsis This subject introduces the role and associated responsibilities of the accounting profession. Topics covered include professionalism and professional ethics; accounting standard setting; conceptual framework for general purpose financial reporting; general disclosure requirements and principles underlying the preparation for financial statements; special disclosures and specific measurement problems.
Assessment Examination: 100%