Year
2019
Units
4.5
Contact
1 x 2-hour lecture weekly
1 x 1-hour tutorial weekly
Prerequisites
1 of BUSN1002, BUSN1208
Enrolment not permitted
1 of BUSN2052, BUSN3019 has been successfully completed
Assumed knowledge
A basic understanding of accounting and financial statements will be assumed. Some knowledge of introductory economics and quantitative methods will also be beneficial.
Course context
Bachelor of Commerce
Topic description
This topic includes an overview of the nature of accounting regulation, including current national and international developments in financial reporting. The topic covers introduces accounting theory and the application of accounting theory, particularly in the context of the conceptual framework. It incorporates consideration of practical issues such as fair value measurement, the presentation of financial statements and accounting policies and disclosures.
Educational aims
This topic includes an overview of the nature of accounting regulation, including current national and international developments in financial reporting. The topic covers introduces accounting theory and the application of accounting theory, particularly in the context of the conceptual framework. It incorporates consideration of practical issues such as fair value measurement, the presentation of financial statements and accounting policies and disclosures.

In addtion, the topic aims to develop:
  • generic cognitive skills (especially analyticial and evaluative skills) behavioural skills (personal and interpersonal skills) which can be employed in organisational work enviroments.
  • Expected learning outcomes
    Upon successful completion of this topic students will be able to:

    1. Articulate various theories of accounting and the application of accounting theory in the context of the conceptual framework
    2. Describe the reporting environment and regulation of financial accounting in Australia and internationally
    3. Define the components of the accounting conceptual framework, its significance and limitations
    4. Critically evaluate and apply a range of accounting standards.