Financial accounting
Mr Grant Gay
6 points
* Two 1-hour lectures and one 1-hour tutorial per week
*
First semester
* Clayton
* Prerequisites: AAF1021/2 and AAF1031/2 (pass
division I)
Objectives On completion of this subject students should understand how the conceptual framework applies to group financial reports; be familiar with financial report presentation and disclosure requirements; be competent in the preparation of group financial reports and the translation of the financial statements of foreign operations; be familiar with the requirements of accounting for extractive industries; be familiar with the actions available to companies in financial distress.
Synopsis Topics covered in this subject include financial reporting requirements and the reporting entity; accounting for interests in joint ventures; accounting for extractive industries; the nature of company groups; the preparation of consolidated financial reports; foreign currency translation; equity accounting; related party transactions; segment reporting; differential reporting and business closures.
Assessment Written: (1500 words) 10%
* Mid-semester examination: 15%
* tutorial presentation: 10%
* Examination (3 hours): 65%
Prescribed texts
Australian Society of CPAs and the Institute of Chartered Accountants in Australia Accounting handbook Prentice-Hall, 1997
| Published by Monash University, Clayton, Victoria
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