Introduces the concepts and practices of financial accounting and selected accounting standards governing external financial reporting including specific techniques required to account for transactions and events of corporate entities.
Topic 1: The financial reporting environment
Topic 2: Accounting for liabilities and equity
Topic 3: Accounting for non-current assets
Topic 4: Acquisition of assets and intangible assets
Topic 5: Accounting for income tax
Topic 6: Disclosure
Topic 7: Foreign currency translation
Topic 8: Consolidation
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
Learning outcomes and graduate attributes
GA1: Intellectual rigour,
GA3: Ethical practice,
GA4: Knowledge of a discipline,
GA5: Lifelong learning,
GA6: Communication and social skills,
GA7: Cultural competence
|On completion of this unit, students should be able to:||GA1||GA2||GA3||GA4||GA5||GA6||GA7|
|1||introduce regulatory setting in Australia and the framework for external financial reporting||Knowledge of a discipline|
|2||explain selected accounting standards relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation||Knowledge of a discipline|
|3||apply specific accounting standards and techniques to practical problems||Knowledge of a discipline||Communication and social skills|
|4||evaluate requirements of specific accounting standards in relation to financial reporting.||Intellectual rigour||Knowledge of a discipline||Communication and social skills|
- CAANZ (Chartered Accountants Australia and New Zealand), 2016, Financial Reporting Handbook Australia, John Wiley & Sons Australia, Australia. ISBN: 9780730328742.
- Deegan, C, 2012, Australia Financial Accounting, 7th edn, McGraw-Hill, Australia. ISBN: 9780071012409.
- CAANZ (Chartered Accountants Australia and New Zealand), 2016, Financial Reporting Handbook Australia, John Wiley & Sons, Australia. ISBN: 9780730328742.
- Optional ISBN 9781743764022 - does not include +Connect, LearnSmart: Deegan, C, 2016, Australian Financial Accounting - includes +Connect, LearnSmart, 8th edn, McGraw-Hill, Australia. ISBN: 9781743764039.