Financial Accounting 2
UndergraduateUSA-ACG272021
Course information for 2021 intake
Extend your accounting studies by exploring equity, liabilities and revenue.
Reframe your practice to incorporate accounting for leases and income tax. Investigate disclosure issues. Consider statutory requirements as you take on financial reports.
Enrolments for this course are closed, but you may have other options to start studying now. Book a consultation to learn more.
- Study method
- 100% online
- Assessments
- Subject may require attendance
- Entry requirements
- Prior study needed
- Duration
- 13 weeks
- Loan available
- HECS-HELP and FEE-HELP available
Financial Accounting 2
About this subject
At the completion of this subject students will be able to:
- recognise and appreciate the conceptual, statutory and professional requirements that impinge upon the preparation of general purpose financial reports
- apply specific statutory and professional requirements in the preparation of general purpose financial reports
- analyse financial reporting issues by applying relevant accounting standards and research
- discuss relevant issues and theories underlying the development of specific accounting standards.
- Equity
- Overview of the Reporting Environment
- Presentation of financial statements
- Other disclosure issues
- Liabilities
- Accounting for leases
- Accounting for income tax
- Revenue
Presentation of financial statements: review of financial reporting requirements for companies, overview of general purpose financial reports; relevant accounting standards relating to the statement of financial position, statement of comprehensive income and statement of changes in equity, and associated notes, including revisions and errors, retained profits and underlying accounting treatments. Other Disclosure Issues: accounting policies, materiality, and events occurring after reporting period. Liabilities: definition, measurement and classification, provisions and contingencies, disclosure and presentation. Leases: classification criteria, accounting treatment in the books of the lessee, disclosure requirements.
- Report - 2500 words (30%)
- Invigilated Exam - 3 hours (70%)
For textbook details check your university's handbook, website or learning management system (LMS).
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Entry requirements
Prior study
You must have successfully completed the following subject(s) before starting this subject:
USA-ACG11-Accounting for Business (no longer available)
USA-ACG12-Financial Accounting 1 (no longer available)
Others
It is assumed that students will have knowledge of present value calculations.
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.
Find out more information on Commonwealth Loans to understand what this means to your eligibility for financial support.
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