Financial Accounting

Unit code: BAO2202 | Study level: Undergraduate
12
(One credit point is usually equivalent to one hour of study per week)
City Campus
City Flinders
Footscray Park
Online Real Time
VU Sydney
BAO2000 - Accounting Information Systems
(Or equivalent to be determined by unit coordinator)
Overview
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Overview

The objective of this unit is to provide students with knowledge of financial accounting concepts, principles, procedures and Australian 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.

Learning Outcomes

On successful completion of this unit, students will be able to:

  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

For Melbourne campuses

Assessment type: Test
|
Grade: 20%
Online Theory Quizzes- 2 Progressive Assessments (10% 10%)
Assessment type: Test
|
Grade: 50%
Class Practical Application Tests - 2 Progressive Assessments (25%, 25%)
Assessment type: Assignment
|
Grade: 20%
Group Assignment on Contemporary Accounting Issues
Assessment type: Presentation
|
Grade: 10%
Group Presentation on Assignment

Other locations

For students studying at Henan University, Liaoning University, Sunway College Johor Bahru, Sunway College Kuala Lumpur
Assessment type: Test
|
Grade: 10%
Class Test 1 - Multiple Choice (6%) Practical and Theory Questions (4%)
Assessment type: Test
|
Grade: 20%
Class Test 2 - Practical and Theory Based Analytical Questions
Assessment type: Assignment
|
Grade: 20%
Group Assignment on Contemporary Accounting issues
Assessment type: Examination
|
Grade: 50%
Final examination

Required reading

Financial Reporting,
Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, Hong N., Byrnes, K., (2020),| John Wiley & Sons Australia, Ltd.

As part of a course

This unit is not a compulsorily taken as part of any specific course. Depending on the course you study, this unit may be taken as an elective.

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