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 a conceptual understanding of accounting in addition to providing an understanding of accounting procedures. Specific topics covered include: statutory reporting requirements, accounting standards and the conceptual framework project, cash flow statements, the measurement of non-current assets and liabilities, and the analysis and interpretation of financial statements.

Faculty Faculty of Business and Law
School Newcastle Business School
Availability Semester 1 - 2014 (Sydney Bathurst Street)
Semester 2 - 2014 (Sydney Bathurst Street)

Previously offered in 2013, 2012, 2011, 2010, 2009, 2008


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. Exhibit an understanding of the technical skills, underlying concepts and issues in accounting for corporations.
  3. Prepare published financial statements (including consolidated accounts) and relevant disclosures in notes to the accounts in accordance with the Corporations Act, Australian Accounting Standards and Stock Exchange listing rules.
  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. Explain the issues surrounding contemporary accounting controversies.

Topics included in this course include: Accounting and reporting for corporate entities, including the mechanisms and general method of preparing financial records for corporations’ capital, operating, and acquisition activities, leading to the preparation of annual published financial reports as required under the provisions of the Corporations Law, Australian Accounting Standards and Australian Stock Exchange Listing requirements.

Replacing Course(s) Nil
Transition Nil
Industrial Experience 0
Assumed Knowledge PACC6000 Financial Accounting 1
Modes of Delivery Internal Mode
Teaching Methods Lecture
Assessment Items
  • Essays / Written Assignments -
  • Examination: Formal - A three-hour final examination covering all topics.
  • Quiz - Class - Mid trimester quiz
Contact Hours
  • Lecture: for 3 hour(s) per Week for Full Term
Compulsory Components
  • Requisite by Enrolment: This course is only available to students enrolled in the Master of Professional Accounting, Master of Professional Accounting (Advanced) and Master of Professional Accounting/Master of Business.
Course Materials None listed
Timetable 2015 Course Timetables for PACC60041

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