Note: This is an archived Handbook entry from 2011.
|Dates & Locations:|| |
This subject has the following teaching availabilities in 2011:Summer Term, Parkville - Taught on campus.
Semester 1, Parkville - Taught on campus.
Semester 2, Parkville - Taught on campus.
Timetable can be viewed here. For information about these dates, click here.
|Time Commitment:||Contact Hours: Semester 1 and Semester 2: One 2-hour lecture and one 1-hour tutorial per week; Summer semester: two 2-hour lectures and two 1-hour tutorials per week for six weeks. |
Total Time Commitment: Not available
Study Period Commencement:
Summer Term, Semester 1, Semester 2
|Recommended Background Knowledge:||Please refer to Prerequisites and Corequisites.|
|Non Allowed Subjects:||None|
|Core Participation Requirements:||
For the purposes of considering requests for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Students Experiencing Academic Disadvantage Policy, academic requirements for this subject are articulated in the Subject Description, Subject Objectives, Generic Skills and Assessment Requirements for this entry.
The University is dedicated to provide support to those with special requirements. Further details on the disability support scheme can be found at the Disability Liaison Unit website: http://www.services.unimelb.edu.au/disability/
CoordinatorMr Noel Boys
Adopting a practical approach, this subject examines key technical, financial accounting topics integral to the preparation of general purposed financial reports. The role of accounting standards in the formatting of and disclosure in financial reports is considered with particular emphasis on entities within the regulatory framework, revaluation of non-current assets (including impairment), foreign currency transactions and translations, accounting for income tax, accounting for leased assets, and accounting for controlled entities (consolidations and equity method accounting).
|Objectives:||• Identify and describe the recognition criteria for Reporting Entities and Disclosing Entities and explain the differences between each; |
• Be able to explain the general functions of the International Accounting Standards Board and its direct relevance to Australian accounting standard setting
• Explain the relevance of specific accounting issues, in the context of the financial reporting framework
• Explain the importance of, and analyse the application of, underlying theory and regulatory provisions of relevant statutes and accounting standards
• Identify specific accounting information disclosure requirements for each nominated standard.
• Explain the implications for financial reporting arising from alternative accounting policy choice decisions faced by management, particularly when remuneration incentives are linked to performance measured by financial reports.
|Assessment:||A 3-hour end-of-semester examination (70%), a one-hour mid-semester test (20%) and tutorial assessment (10%). Successful completion of this subject requires a 50% pass in the end-of-semester examination.|
|Prescribed Texts:|| |
You will be advised of prescribed texts by your lecturer.
|Breadth Options:|| |
This subject potentially can be taken as a breadth subject component for the following courses:
You should visit learn more about breadth subjects and read the breadth requirements for your degree, and should discuss your choice with your student adviser, before deciding on your subjects.
|Fees Information:||Subject EFTSL, Level, Discipline & Census Date|
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