In an international context this subject deals with company formation, changes in a company's capital structure and the statutory and professional financial reporting requirements of incorporated reporting entities. An understanding of the overview of the conceptual framework and the role of accounting standards leads to the study of the definition, measurement and recognition of assets, liabilities and owner's equity items and to the disclosure of these items in financial statements.
No offerings have been identified for this subject in 2019.
School of Accounting and Finance
Bachelor of Business Studies students only. Not available to students who have completed ACC321, ACC220 or ACC222
ACC222 This subject is identical to ACC222, except for mode of delivery and method of assessment
- the nature of companies and accounting for company formation (by share and debt capital); - recurrent changes in shareholders equity and debt capital (dividends, reserves, impairment of assets, rights, options, bonus share issues, writing off a premium or discount on debentures); - the regulatory environment for financial reporting, both nationally and internationally; - the conceptual framework of financial reporting including national and international developments (definitions of a reporting entity, objectives of financial reporting, qualitative characteristics of financial information, elements of financial statements); - origins, development and implementation of accounting standards; - overview of measurement in accounting (HCA, fair value and current cost); - recognition concept - expense versus capitalisation (research and development, intangibles, and/or extractive industries); - recognition and measurement of financial statement elements I - Assets and Liabilities (leases); - recognition and measurement of financial statement elements II - Liabilities (financial instruments); - recognition and measurement of financial statement elements III - Revenues and expenses (long term construction contracts); - disclosure concepts (accounting policies, materiality, after-reporting date events, financial instruments).
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The information contained in the 2019 CSU Handbook was accurate at the date of publication: September 2018. The University reserves the right to vary the information at any time without notice.