Financial Accounting

This subject has the following teaching availabilities in 2016:

Estimated total time commitment of 120 hours per semester

ACCT90012 Corporate Reporting or equivalent

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://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.