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Advanced Financial Accounting
Postgraduate | TAS-BFA742 | 2021
Course information for 2021 intake
- Study method
- 100% online
- Assessments
- Subject may require attendance
- Entry requirements
- Part of a degree
- Duration
- 13 weeks
FEE-HELP available
Advanced Financial Accounting
About this subject
Upon completion of this subject, the students should be able to:
- Articulate measurement issues related to the covered topics; and locate and implement the disclosure requirements related to the covered topics
- Apply IFRSs in the preparation of general purpose financial statements
- Explain details relating to general purpose financial statements
- Prepare general purpose financial statements for designated entities, including the exercise of professional judgment
- 1. Week 1 - Module 1
- 1.1) The role and importance of financial reporting
- 2. Week 2 - Module 2
- 2.1) Accounting Theories
- 3. Week 3 - Module 3
- 3.1) Presentation of financial statements
- 4. Week 4 - Module 4
- 4.1) Revenue provisions, contingent liabilities and contingent assets
- 5. Week 5 - Module 5
- 5.1) Income taxes
- 6. Week 6 - Module 5 (cont.)
- 6.1) Income taxes
- 7. Week 7 - Module 6
- 7.1) Leases
- 8. Week 8 - Module 7
- 8.1) Business combinations and group accounting
- 9. Week 9 - Module 8
- 9.1) Financial instruments
- 10. Week 10 - Module 8 (cont.)
- 10.1) Financial instruments
- 11. Week 11 - Module 9
- 11.1) Impairment of assets
- 12. Week 12 - Module 9 (cont.)
- 12.1) Impairment of assets
- 13. Week 13 - Revision
- 13.1) n/a
Advanced financial accounting is designed to provide you with financial reporting and business skills that are applicable in an international professional environment. The subject is based on the International Financial Reporting Standards (IFRSs), which are issued by the International Accounting Standards Board (IASB). Many international jurisdictions have adopted or are progressively adopting the IFRSs. Advanced financial accounting provides information for corporate leadership. Members of the accounting profession with financial reporting skills and knowledge provide business advice to board directors, analysts, shareholders, creditors, colleagues and other stakeholders. Members of the accounting profession who provide assurance services for financial reports also require a good understanding of the IFRSs. Directors are also required to state that the financial statements are fairly stated. These examples reinforce the importance of Advanced financial accounting. Advanced financial accounting is a significant part of an entity’s governance and accountability process, issues that are covered in the subject Ethics and Governance. Compliance with the IFRSs is important because it results in the presentation of fairly stated financial statements. This presentation outcome is also the aim of audit and assurance services. The assurance knowledge and audit skills are taught in the subject Advanced Audit and Assurance. While taxation is covered in the subject Advanced Taxation, and while it is distinct from financial reporting, the accounting for tax is recognised as material information and therefore included in this subject. Financial reporting provides information about the business operations and the financial results.
- Preparation Activity and Quiz (10%)
- Test (20%)
- Closed Book Exam (50%)
- Case Study Analysis (20%)
For textbook details check your university's handbook, website or learning management system (LMS).
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Entry requirements
To enrol in this subject, you must be admitted into a degree.
Additional requirements
No additional requirements
Study load
- 0.125 EFTSL
- This is in the range of 10 to 12 hours of study each week.
Equivalent full time study load (EFTSL) is one way to calculate your study load. One (1.0) EFTSL is equivalent to a full-time study load for one year.
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