Abstract

In this subject, students will acquire the skills to interpret the underlying accounting standards and apply them to challenging business problems.  Based on International Financial Reporting Standards (IFRS) and their Australian equivalents (AASB) the subject develops students' capacity for professional and personal judgement and initiative through the application of the … For more content click the Read More button below.

Syllabus

Accounting standardsFinancial statement preparation and disclosureAssetsLiabilitiesEquityBusiness combinations

Learning outcomes

Upon successful completion of this subject, students should:
1.
be able to apply professional judgement in the preparation of financial statements for reporting entities in accordance with relevant ethical, professional and statutory reporting requirements;
2.
be able to discuss and critique the statutory and professional requirements upon which published financial statements are based and their impact on practical situations and recent developments in accounting;
3.
be able to apply and analyse generally accepted accounting principles and specific financial reporting standards relating to concepts of recognition, measurement, disclosure, revaluation and impairment of key financial statement elements; and
4.
be able to critically analyse and communicate clearly and concisely the relevant principles and accounting standards to a diverse audience.

Assumed knowledge

Postgraduate students only.