Financial Accounting A

Abstract

In an international context this subject deals with company formation, changes in a company's capital structure and the statutory and professional financial reporting requirements of incorporated reporting entities. An understanding of the overview of the conceptual framework and the role of accounting standards leads to the study of the definition, … For more content click the Read More button below.

In an international context this subject deals with company formation, changes in a company's capital structure and the statutory and professional financial reporting requirements of incorporated reporting entities. An understanding of the overview of the conceptual framework and the role of accounting standards leads to the study of the definition, measurement and recognition of assets, liabilities and owner's equity items and to the disclosure of these items in financial statements.

Syllabus

the nature of companies and accounting for company formation (by share and debt capital);recurrent changes in shareholders equity and debt capital (dividends, reserves, impairment of assets, rights, options, bonus share issues, writing off a premium or discount on debentures); the regulatory environment for financial reporting, both nationally and internationally;the conceptual … For more content click the Read More button below.

the nature of companies and accounting for company formation (by share and debt capital);
recurrent changes in shareholders equity and debt capital (dividends, reserves, impairment of assets, rights, options, bonus share issues, writing off a premium or discount on debentures);
the regulatory environment for financial reporting, both nationally and internationally;
the conceptual framework of financial reporting including national and international developments (definitions of a reporting entity, objectives of financial reporting, qualitative characteristics of financial information, elements of financial statements);
origins, development and implementation of accounting standards; - overview of measurement in accounting (HCA, fair value and current cost);
recognition concept - expense versus capitalisation (research and development, intangibles, and/or extractive industries);
recognition and measurement of financial statement elements I - Assets and Liabilities (leases);
recognition and measurement of financial statement elements II - Liabilities (financial instruments);
recognition and measurement of financial statement elements III - Revenues and expenses (long term construction contracts);
disclosure concepts (accounting policies, materiality, after-reporting date events, financial instruments).

Assumed knowledge

Nil

Enrolment restrictions

Bachelor of Business Studies students only. Not available to students who have completed ACC321, ACC220 or ACC222.

Pre-requisite

Incompatible

Handbook

ACC282 - Financial Accounting A

Abstract

Syllabus

Assumed knowledge

Enrolment restrictions