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.

Unit details

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)

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

Melbourne campuses

Students studying under the VU Block Model.

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

Other locations

Assessment type Description Grade
Test Class Test 1 - Multiple Choice (6%) Practical and Theory Questions (4%) 10%
Test Class Test 2 - Practical and Theory Based Analytical Questions 20%
Assignment Group Assignment on Contemporary Accounting issues 20%
Examination Final examination 50%

Required reading

Financial Reporting, 3rd ed,
Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, Hong N., Byrnes, K., (2020),
John Wiley & Sons Australia, Ltd.

Where to next?

VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.