ACC514 Financial Accounting (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session
Abstract:
This subject, which builds upon the introduction to financial accounting provided in the prerequisite subject, begins with an introduction to the regulatory environment for financial reporting and an overview of the conceptual framework for financial reporting principles and standards. The major focus is the form and content of published financial reports and the application of generally accepted accounting principles and specific financial reporting standards relating to concepts of recognition, measurement, disclosure, revaluation and impairment of financial statement elements.
+ Subject Availability Modes and Locations
| Session 2 | |
|---|---|
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Distance * | Wagga Wagga |
*This subject offering contains a residential school. Please view following information for further details.
Continuing students should consult the SAL for current offering details: ACC514
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Prerequisite(s):
Enrolment restrictions:
Postgraduate students only. Not available to students who have completed ACC590 .
Objectives:
Upon successful completion of this subject, students should:
- be able to prepare basic financial statements for reporting entities;
- be able to discuss critically and comprehensively the statutory and professional requirements upon which published financial statements are based;
- be able to explain the form and content of financial statements;
- be able to interpret and apply generally accepted accounting principles and specific financial reporting standards relating to concepts of recognition, measurement, disclosure, revaluation and impairment of key financial statement elements.
Syllabus:
The subject will cover the following topics:
- introduction to the regulatory environment for financial reporting, as well as the conceptual framework underlying financial reporting;
- financial statement presentation;
- financial statement disclosures;
- accounting for share capital reserves;
- accounting for income tax;
- accounting for property and equipment;
- accounting for impairment of assets;
- accounting for intangible assets;
- accounting for liabilities, contingent liabilities and contingent assets;
- preparation of a statement of cash flows;
- introduction to business combinations.
Residential School
This subject contains a compulsory 3 day residential school.
The primary objectives of the residential school are: to provide an interactive face-to-face learning environment, to answer student questions about the subject and to assist students to focus their studies for the remainder of the session. Staff at the residential school will review the subject material covered up to that date and outline the remaining topics. Subject readings will be discussed and placed in context.
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.