The objective of this unit is to provide students with knowledge of financial accounting concepts, principles, procedures and regulations. Students will apply accounting concepts and accounting standards to measure, recognise, classify and disclose specific business transactions and other accounting information. Students are required to use accounting concepts and accounting standards to analyse and prescribe accounting treatment for business transactions, evaluate disclosure requirements and develop an understanding of the relevant legal, professional and conceptual requirements associated with aspects of the preparation of external financial reports for publicly listed Australian companies.
Unit details
Location:
Study level:
Undergraduate
Credit points:
12
Unit code:
BAO2202
Prerequisites
BAO2000 - Accounting Information Systems
Does not apply to students completing; BBCA Bachelor of Commerce, BBLC Bachelor of Commerce (Applied Finance)/Bachelor of Laws, LHLC Bachelor of Laws (Honours)/Bachelor of Commerce (Applied Finance)
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Learning Outcomes
| 1. | Analyse the conceptual framework underlying financial accounting and conceptualise its theoretical foundation; | ||
| 2. | Analyse and prescribe accounting treatment for complex business transactions along with reporting requirements using related accounting standards; | ||
| 3. | Synthesise accounting concepts to resolve accounting issues using high level judgement; | ||
| 4. | Compose financial statements using current accounting standards; and | ||
| 5. | Working collaboratively, evaluate and present supplementary information and professional requirements for disclosing this information in the notes attached to financial statements. |
Assessment
Melbourne campuses
Students studying under the VU Block Model.
| Assessment type | Description | Grade |
|---|---|---|
| Test | Online Quizzes- 3 Progressive Assessments (6%, 7%, 7%) | 20% |
| Test | Class Tests - 3 Progressive Assessments (15%,15%, 20%) | 50% |
| Assignment | Group Assignment | 20% |
| Presentation | Group Presentation | 10% |
Other locations
| Assessment type | Description | Grade |
|---|---|---|
| Test | Class Test 1 - Multiple Choice (6%) Practical and Theory Questions (4%) | 10% |
| Test | Class Test 2 - Multiple Choice (14%) Practical and Theory Questions (6%) | 20% |
| Assignment | Group Assignment | 20% |
| Examination | Final examination | 50% |
Required reading
Financial Reporting, 2nd ed,
Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, Hong N., Byrnes, K., (2017),
John Wiley & Sons Australia, Ltd.
Where to next?
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