306-301 Financial Accounting

Prerequisites

306-202 Intermediate Financial Accounting and 316-202 Intermediate Micro-economics.

Pre/corequisites

306-203 Business Finance.

Semester

Contact

Subject Description

This subject aims to develop a critical understanding of the supporting theories and assumptions underpinning financial accounting and an analysis of contemporary financial accounting issues. Topics covered include the conceptual framework of accounting; alternative theories for explaining accounting behaviour and accounting choice; the regulatory process as it affects financial reporting; recognition and measurement issues and controversies and emerging issues in accounting.

Assessment

A 3-hour final examination (75%); an assignment (15%); and seminar performance (10%). Satisfactory completion of this subject requires a 50% pass in the final examination.

Prescribed Texts

• Godfrey J, Hodgson A, Holmes S and Kam V, Accounting Theory. 3rd ed. John Wiley and Sons Brisbane 1997.