Handbook

This subject begins with an introduction to the sources of international financial reporting regulation and an overview of the conceptual framework, both crucial to informing the global debate regarding financial reporting standard formulation and application. The remainder of the subject applies selected financial reporting standards to specific real world business issues including the raising of capital, impairment of assets and management of long-term construction contracts. Students will gain an appreciation of the dynamic and contested arena of financial reporting standard setting. This subject is the first of two with an exclusive focus on financial accounting.

• the sources of financial reporting regulation;
• the conceptual framework for financial reporting;
• financial report presentation and disclosure;
• accounting for equity;
• accounting for intangibles, research and development;
• accounting for the revaluation and impairment of assets;
• accounting for leases;
• accounting for liabilities; and
• accounting for long-term construction contracts.