Authorised by Academic Registrar, April 1996
Objectives On successful completion of this subject students should be able to demonstrate knowledge of current legal and professional requirements about the form, content and timing of published financial reports; understand the impact of choices of accounting methods on the usefulness of corporate financial statements and on the process of financial statement analysis; understand the special issues and concerns relating to consolidated financial statements, foreign operations and related analytical challenges; appreciate the nature and impact of intangible assets, large wite-offs and `off-balance-sheet' items on the published financial reports; analyse and interpret financial statements and reports; prepare suitable reports to management.
Synopsis This subject has two distinct but interlinked aspects. One aspect is considers business enterprises in Australia. Reporting requirements according to Corporations Law and approved accounting standards are contrasted with existing reporting practices in order to assess critically the quality of published financial reports. The other aspect examines the properties and roles of financial statements; the key aspects of decisions based on financial statement use and the environmental features for decision making.
Assessment Oral presentation: 15% + written presentations: 15% + short tests/assignments (2500 words): 20% + Examination (3 hours): 50%