BUSN2036 Financial Accounting Issues

2018

4.5

1 x 2-hour lecture weekly
1 x 2-hour tutorial weekly

1 of BUSN1002, BUSN1208

BUSN2005 has been successfully completed

Bachelor of Commerce

This topic examines selected issues in financial accounting and reporting. Current and proposed accounting standards and generally accepted accounting principles are considered and evaluated within the conceptual framework for financial reporting. Topics to be examined may include: disclosure in corporate reports; accounting for leases; foreign currency translation; intangibles; segment reporting; extractive industries accounting.

This topic aims to introduce students to financial accounting issues, and develop their ability to appraise these issues based upon the conceptual framework for financial reporting. It provides students with a detailed knowledge of the impact of specific regulatory requirements, particularly applicable accounting standards, upon reporting entities' accounting procedures. The topic provides students with an understanding of specific accounting standards, illustrates the accounting procedures required, gives a theoretical understanding of the principles involved, and outlines the relevant disclosure requirements. It develops students' ability to critically evaluate these accounting and reporting requirements. In addition, the topic aims to develop:

• generic cognitive skills (especially analytical and evaluative skills)
• behavioural skills (especially personal and interpersonal skills) which can be employed in an organisational work environment

Upon successful completion of this topic students will be able to:

1. Discuss and appraise a range of financial accounting issues in the context of the conceptual framework for financial reporting
2. Describe the impact of specific regulatory requirements, particularly applicable accounting standards, upon reporting entities' accounting procedures
3. Critically evaluate and apply a range of accounting standards.