ACC514 Financial Accounting (8)

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.

Availability

Session 1 (30)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus
Session 2 (60)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus
Online
Wagga Wagga Campus

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.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Accounting and Finance

Enrolment Restrictions

Postgraduate students only.  Not available to students who have completed ACC590.

Prerequisites

ACC511 or ACC566

Subject Relationships

ACC590 Subjects have overlapping content

Incompatible Subjects

ACC590

Learning Outcomes

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

This 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.

Indicative Assessment

The following table summarises the assessment tasks for the online offering of ACC514 in Session 2 2019. Please note this is a guide only. Assessment tasks are regularly updated and can also differ to suit the mode of study (online or on campus).

Item Number
Title
Value %
1
10 online tests
10
2
Assignment 1: newsletter and financial statements
15
3
Assignment 2: problem questions
15
4
Final exam
60

The information contained in the CSU Handbook was accurate at the date of publication: February 2020. The University reserves the right to vary the information at any time without notice.

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