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ACC514 Financial Accounting (8)

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 Location

Session 1
On CampusCSU Study Centre Brisbane
On CampusCSU Study Centre Melbourne
On CampusCSU Study Centre Sydney
On CampusPort Macquarie
Session 2
Online*Wagga Wagga Campus
On CampusCSU Study Centre Brisbane
On CampusCSU Study Centre Melbourne
On CampusCSU Study Centre Sydney
On CampusPort Macquarie
*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.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Accounting and Finance

Enrolment restrictions

Postgraduate students only.  Not available to students who have completed ACC590.
Prerequisite(s)Incompatible subject(s)Related subject(s)
ACC511 or ACC566ACC590 ACC590 Subjects have overlapping content

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

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.

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The information contained in the 2018 CSU Handbook was accurate at the date of publication: 18 October 2017. The University reserves the right to vary the information at any time without notice.