AFG9073

Financial accounting

Dr Mahendra Goyal

6 points
* Distance, approximately 12 hours per week
* Second semester
* Gippsland
* Prerequisite: AFG9071

Objectives This subject builds on the fundamentals of accounting principles taught in the prerequisite subjects. Students develop a thorough understanding of corporate accounting in accordance with the accounting standards and statutory requirements for the preparation of financial reports. Students will learn about the practical application of the current standards and are expected to critically evaluate the reasoning behind the development of selected standards.

Synopsis The specific issues that are addressed in this subject are the influences on the nature and objectives of financial accounting, profit determination and distribution, the reorganisation of share capital, the profit and loss, balance sheet and cash flow statements, the nature and recognition of assets, accounting for intangible assets and expenditure carried forward, tax effect accounting, extractive industries, leasing, real estate and construction, the nature and recognition of liabilities and segmental reporting.

Assessment Assignments: 35%
* Examination: 65%

Prescribed texts

Australian Society of Certified Practising Accountants and The Institute of Chartered Accountants The accounting handbook latest edn, Prentice-Hall
Jager M and others Company accounting procedures 7th edn, Butterworths 1997