ACC588 Financial Reporting CPA (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session
Abstract:
This subject covers advanced topics in financial accounting and reporting required by graduates for professional practice in Australia and internationally. International and domestic accounting and reporting standards are examined in the context of Australian reporting entities in the private sector. Ethical disclosure practices are emphasised.
+ Subject Availability Modes and Locations
| Session 2 | |
|---|---|
| Distance | Wagga Wagga |
Continuing students should consult the SAL for current offering details: ACC588
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Available only to students enrolled in the Master of Professional Accounting (CPA) or the Master of Accounting Practice. Enrolment in this subject is further restricted to those students concurrently enrolled in the CPA Program professional level segment Financial Reporting.
Objectives:
Upon successful completion of this subject, students should:
- be able to describe and critique the process by which international accounting standards are developed and the regulatory system under which they are applied;
- be able to interpret and apply selected international accounting and disclosure standards for the preparation of general purpose financial statements;
- be able to apply standards on the complex issues of tax effect accounting, financial instruments and business combinations, to interpret the outcomes and explain the results;
- be able to critically analyse financial reports, ascertain missing data, and communicate financial and disclosure issues to management and stakeholders;
- be able to design and implement accounting systems necessary to produce general purpose financial statements;
- be able to explain and assess the significance of ethical practices in financial reporting.
Syllabus:
The subject will cover the following topics:
- the financial reporting system in Australia;
- preparation and presentation of general purpose financial statements;
- contingent assets and liabilities;
- impairment of assets;
- reporting of income taxes in financial statements;
- accounting and reporting of financial instruments;
- accounting and reporting for business combinations and associations.
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.