Financial Accounting

    Unit code: BAO2202 | Study level: Undergraduate
    Credit points
    12
    (Generally, 1 credit = 10 hours of classes and independent study.)
    Location
    City Campus
    Footscray Park
    VU Sydney
    Prerequisites
    BAO2000 - Accounting Information Systems; or
    BAO1001 - Accounting Process and Systems (applicable for BBAQ students ONLY)
    Does not apply to students completing; BBLC Bachelor of Commerce (Applied Finance)/Bachelor of Laws
    (Or equivalent to be determined by unit coordinator)
    Overview
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    Overview

    Gain the skills needed to prepare reports for complex transactions, with the Financial Accounting unit.

    You will learn financial accounting concepts, principles and procedures within Australian regulations.

    Following industry standards, you will apply accounting concepts to analyse and prescribe accounting treatment for business transactions.

    By the end of the unit, you will also have expertise in preparing external financial reports for publicly listed Australian companies, with the skills to:

    • evaluate disclosure requirements
    • understand relevant legal, professional and conceptual requirements.

    Learning Outcomes

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

    1. Review and analyse the conceptual framework underlying financial accounting;
    2. Analyse and prescribe accounting treatment for complex business transactions along with reporting requirements using accounting standards;
    3. Synthesise accounting concepts to resolve accounting issues using high level judgement and assess the information provided by the industry professionals;
    4. Compose financial statements using current accounting standards; and,
    5. Critically evaluate and present financial information and supplementary information in the notes attached to financial statements upholding the necessary professional requirements.

    Assessment

    For Melbourne campuses

    Assessment type: Test
    |
    Grade: 10%
    Online - short answers and MCQs
    Assessment type: Test
    |
    Grade: 50%
    Practical and theory (2x25%)
    Assessment type: Assignment
    |
    Grade: 25%
    Assignment on measurement and recognition issues in financial accounting (Group)
    Assessment type: Presentation
    |
    Grade: 15%
    Presentation on Industry reflective analysis

    Other locations

    For students studying at Henan University, Liaoning University
    Assessment type: Test
    |
    Grade: 10%
    Short answers and MCQs
    Assessment type: Assignment
    |
    Grade: 25%
    Assignment on measurement and recognition issues in financial accounting (Group)
    Assessment type: Presentation
    |
    Grade: 15%
    Presentation on Industry reflective analysis (Group)
    Assessment type: Examination
    |
    Grade: 50%
    Final examination: practical and theory questions

    Required reading

    Financial reporting
    Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, Hong N., Byrnes, K. (2022).| John Wiley & Sons.

    As part of a course

    This unit is studied as part of the following course(s):

    Bachelor of Accounting
    BBAQ | Bachelor degree | Duration: 3 years
    Bachelor of Laws (Honours)/Bachelor of Commerce (Applied Finance)
    LHLC | Bachelor honours degree | Duration: 5 years

    Refer to the course page for information on how to apply for the course. 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.

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