Financial Accounting 2

10 Units

The course examines general purpose financial reporting from the perspective of a single incorporated entity. In doing so, the course emphasises the development of the knowledge, understanding and skills needed to interpret and apply accounting standards and procedures to solve accounting problems which companies encounter in practice.

Faculty Faculty of Business and Law
School Newcastle Business School
Availability Semester 1 - 2016 (Sydney Elizabeth Street)
Semester 2 - 2016 (Sydney Elizabeth Street)
Learning Outcomes

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

  1. Demonstrate an understanding of the nature of the corporate entity and be aware of the concepts, statutory requirements and other authoritative influences that underpin accounting and reporting in the Australian regulatory environment.
  2. Explain the issues surrounding contemporary accounting controversies.
  3. Critically integrate and apply theoretical and technical accounting knowledge and skills to solve routine accounting problems.
  4. Illustrate an awareness of the relevant accounting standards, statutory requirements and listing requirements that impact on corporate accounting and the preparation and presentation of financial reports
  5. Evaluate solutions for routine accounting problems in diverse contexts using social, ethical, economic, regulatory and global perspectives.

Topics included in this course include the following:

  1. Statutory reporting and disclosure requirements under the provisions of the Corporations Act, Australian Accounting Standards and Australian Stock Exchange Listing requirements;
  2. Accounting standards and the conceptual framework;
  3. Prepare financial records for corporations’ capital, operating, and acquisition activities;
  4. Measurement of non-current assets and liabilities;
  5. Theories of accounting;
  6. Preparing published financial statements; and
  7. Analysis and interpretation of financial statements.
  • This course is only available to students enrolled in the Master of Professional Accounting, Master of Professional Accounting (Advanced), Master of Professional Accounting / Master of Business and M Prof Acct/M Bus Admin programs.
Assumed Knowledge PACC6000 Financial Accounting 1
Assessment Items
  • Written Assignment: Written Assignment
  • In Term Test: Mid-Semester Test
  • Formal Examination: Final Exam
Contact Hours
  • Lecture: for 3 hour(s) per Week for Full Term
Timetable 2016 Course Timetables for PACC6004
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