Financial Accounting

This subject is not offered in 2014.

Estimated total time commitment of 120 hours per semester

ACCT90012 Corporate Reporting or equivalent

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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/

Analysis of contemporary accounting issues within the frameworks of agency theory, capital markets theory and human judgement theory. The aim is to develop a critical understanding of established theories and assumptions underpinning financial accounting.

On successful completion of this subject, students should be able to:

• Analyse the role of theory development in explaining accounting behaviour;
• Evaluate the principal existing theories that explain the production and/or usage of financial accounting reports;
• Describe and critically evaluate the accounting regulatory process;
• Explain the principles that underlie the recognition and measurement of core accounting concepts and critically analyse their shortcomings;
• Evaluate the impact of globalisation on contemporary financial accounting practice;
• Synthesise the range of emerging issues in financial accounting.

• 3-hour end-of-semester examination (70%)
• 2000 word assignment due between Week 7 and Week 9 (20%)
• Seminar presentations and participation (ongoing) (10%)

Note: Successful completion requires a pass (50%) in the final exam.

You will be advised of prescribed texts by your lecturer.

This subject is not available as a breadth subject.

On successful completion of this subject, students should have improved the following generic skills:

• Critical thinking, particularly in respect of the body of knowledge of the accounting discipline;
• Explanation of how a body of knowledge is created and disseminated;
• Application of theory to practice;
• Analysis of accounting problems and issues by applying conceptual frameworks;
• Oral and written communication, particularly in relation to the presentation of a logical, authoritative argument;
• Collaborative learning and teamwork.

This subject cannot be taken by Master of Accounting students except with the permission of the Program Director, Master of Accounting.