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Unit Summary
Pre-requisites
Anti-requisites
ACC00701 Accounting for Group Entities ACC00703 Business Financial Accounting
Unit aim
Introduces the regulatory setting and the framework of financial reporting of companies listed on the Australian Stock Exchange, as well as specific techniques required to account for and report on transactions of corporate entities. In addition, the application of selected accounting standards in the financial reports will be reviewed and evaluated.
Unit content
Learning outcomes
Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.
| On completion of this unit, students should be able to: | |
|---|---|
| 1 | explain the regulatory setting and the framework for external financial reporting |
| 2 | interpret and evaluate regulatory requirements governing financial reporting of Australian corporations |
| 3 | apply specific accounting standards, including those relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation in structured or unstructured settings |
| 4 | prepare general purpose financial statements and reports for a publicly listed company and evaluate these reports' including consolidated financial statements. |
On completion of this unit, students should be able to:
- explain the regulatory setting and the framework for external financial reporting
- interpret and evaluate regulatory requirements governing financial reporting of Australian corporations
- apply specific accounting standards, including those relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation in structured or unstructured settings
- prepare general purpose financial statements and reports for a publicly listed company and evaluate these reports' including consolidated financial statements.
Prescribed texts
- CAANZ (Charted Accountants Australia and New Zealand), 2020, Financial Reporting Handbook Australia , John Wiley & Sons Australia, Australia.
- Deegan, C, 2020, Financial Accounting , 9th edn, McGraw-Hill, Australia. ISBN: 9781743767672 (Pack - includes print book and Connect).
- CAANZ (Charted Accountants Australia and New Zealand), 2020, Financial Reporting Handbook Australia , John Wiley & Sons Australia, Australia.
- Deegan, C, 2020, Financial Accounting , 9th edn, McGraw-Hill, Australia. ISBN: 9781743767672 (Pack - includes print book and Connect).