Unit aim
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.
Unit content
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
Learning outcomes
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,
GA2: Creativity,
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 | |
On completion of this unit, students should be able to:
- introduce regulatory setting in Australia and the framework for external financial reporting
- GA4:
Knowledge of a discipline
- explain selected accounting standards relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation
- GA4:
Knowledge of a discipline
- apply specific accounting standards and techniques to practical problems
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
- evaluate requirements of specific accounting standards in relation to financial reporting.
- GA1:
Intellectual rigour
- GA4:
Knowledge of a discipline
- GA6:
Communication and social skills
Prescribed texts
Session 2
- Deegan, C, 2012, Australia Financial Accounting, 7th edn, McGraw-Hill, Australia. ISBN: 9780071012409.
- ICAA (The Institute of Chartered Accontants in Australia), 2014, Financial Reporting Handbook, John Wiley & Sons Australia, Australia. ISBN: 9780730310082.
Session 3
- Deegan, C, 2012, Australia Financial Accounting, 7th edn, McGraw-Hill, Australia. ISBN: 9780071012409.
- ICAA (The Institute of Chartered Accontants in Australia), 2014, Financial Reporting Handbook, John Wiley & Sons Australia, Australia. ISBN: 9780730310082.
Prescribed texts may change in future study periods.