ACF5956 · Advanced financial accounting

Overview

This unit is one of the final core units in the Master of Professional Accounting, and builds on knowledge and skills gained in earlier units in financial accounting. One of its primary purposes is to introduce you to theories currently being used to assist in understanding the role of financial accounting and reporting in the decision making process of both preparers and users of information. These theories include positive accounting theory, stakeholder and legitimacy theories. It also addresses how regulation might influence the production of accounting information. The unit addresses a number of contemporary accounting topics, from both a practical and theoretical perspective. These include intangible assets, social and environmental reporting, financial instruments and foreign currency transactions.

Offerings

Assessment

The Handbook lists an examination for this unit.

Assessment details may change. Please refer to the assessment information in Moodle closer to the start of the teaching period.

Requisites

Learning outcomes

1. apply a range of theories of accounting to explain financial accounting and reporting practices and appreciate the judgments, estimations and assumptions influencing accounting numbers
2. critically assess and analyse changing influences in standard setting, and impacts of regulatory requirements on financial reporting practices
3. assess the role of financial accounting in sustainable development and corporate social and environmental performance reporting
4. analyse a range of financial reporting issues, including intangible assets, financial instruments and foreign currency transactions, from both a practical and theoretical perspective
5. demonstrate effective research skills to contribute to the production of a business report as part of a team; and critically reflect on your contribution to the teamwork; in addition to demonstrating in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.

Workload

Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. You are expected to complete all pre-class activities prior to your scheduled class, and post-class activities should be completed after your scheduled class. Learning activities may include a combination of teacher directed, peer directed and online engagement activities.

Student experience, not official rules. Nothing here changes what the Handbook says.