Subject details

At the completion of this subject students will be able to:

  1. recognise and appreciate the conceptual, statutory and professional requirements that impinge upon the preparation of general purpose financial reports
  2. apply specific statutory and professional requirements in the preparation of general purpose financial reports
  3. analyse financial reporting issues by applying relevant accounting standards and research
  4. discuss relevant issues and theories underlying the development of specific accounting standards.
    • Equity
    • Overview of the Reporting Environment
    • Presentation of financial statements
    • Other disclosure issues
    • Liabilities
    • Accounting for leases
    • Accounting for income tax
    • Revenue
  • Study resources

    • Instructional methods

      • Discussion forum/Discussion Board
      • Online assignment submission
      • Virtual Classroom
    • Online materials

      • Audio-Video streaming
      • Quizzes
      • Printable format materials

You must have successfully completed the following subject(s) before starting this subject:

USA-ACG11-Accounting for Business
USA-ACG12-Financial Accounting 1


It is assumed that students will have knowledge of present value calculations.

Special requirements

No special requirements

Presentation of financial statements: review of financial reporting requirements for companies, overview of general purpose financial reports; relevant accounting standards relating to the statement of financial position, statement of comprehensive income and statement of changes in equity, and associated notes, including revisions and errors, retained profits and underlying accounting treatments. Other Disclosure Issues: accounting policies, materiality, and events occurring after reporting period. Liabilities: definition, measurement and classification, provisions and contingencies, disclosure and presentation. Leases: classification criteria, accounting treatment in the books of the lessee, disclosure requirements.

  • Report - 2500 words (30%)
  • Invigilated Exam - 3 hours (70%)

Textbook information is pending.

Textbook information is pending.

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