306-202 Intermediate Financial Accounting

306-108 Accounting Transactions and Analysis or 306-104 Accounting 1B.

Adopting a practical approach, this subject examines key technical, financial accounting topics integral to the preparation of general purpose financial reports. The role of accounting standards in the formatting of, and disclosure in financial reports is considered with particular emphasis on entities within the regulatory framework; revaluation of non-current assets (impairment of assets), foreign currency transactions, leased assets, accounting for income tax and accounting for controlled entities.

• High level of development: application of theory to practice; critical thinking.

• Moderate level of development: written communication; problem solving; interpretation and analysis; evaluation of data and other information; receptiveness to alternative ideas.

• Some level of development: oral communication; collaborative learning; team work; synthesis of data and other information.

A 3-hour end-of-semester examination (70%), a mid-semester test of not more than 1 hour (20%) and tutorial assessment (10%). Satisfactory completion of this subject requires a pass (50%) in the end-of-semester exam.

To be advised.