Also refer to the MCom + MIB Student Guide

Description

This unit in financial accounting deals with conceptual and technical issues of preparing external financial reports under International Financial Reporting Standards (IFRS). The unit seeks to develop skills in interpreting and applying a broad range of IFRS, as applied in Australia.

ACCG872 is not an accredited unit with CPA Australia. Where CPA Australia requiries students to complete financial accounting units prior to undertaking the CPA program the appropriate units are those contained in the bachelor degree.

Topics

• Framework for preparation and presentation of financial statements
• Financial reporting in Australia and international accounting standards
• Presentation of income statements and balance sheets
• Materiality
• Property plant and equipment (recognition, revaluation, impairment and depreciation)
• Inventories
• Exploration and evaluation of mineral resources
  
• Income taxes
• Related party disclosures
• Employee benefits
• Leases
• Events occurring after balance sheet date
• Provision, contingent assets and contingent liabilities
• Revenue recognition
• Construction contracts