ACCT5531 Financial Accounting: Theory and Practice

Credit
6 points
Offering
(see Timetable)
AvailabilityLocationMode
Semester 1UWA (Perth)Face to face
Semester 1UWA (Perth)Online-TT
Semester 2UWA (Perth)Face to face
Semester 2UWA (Perth)Online-TT
Content
This unit explores the regulation of financial reporting, the role of participants in the financial reporting framework (financial report constructors, users and regulators) and the preparation of financial reports. The topics include when to recognise assets, liabilities, revenue and expenses and how to apply various measurement methods.
Outcomes
Students are able to (1) identify and apply select accounting standards and understand the theories, practices and regulation related to the preparation and presentation of financial reports; (2) critically evaluate and solve advanced accounting problems as an individual and in a team environment; (3) ability to conduct research into accounting issues; (4) demonstrate an ability to work in a diverse team to achieve team goals; (5) reflect on performance feedback to identify and action learning opportunities and self-improvements; and (6) demonstrate the ability to produce clear and concise written communication in a complex accounting context to accountants and non-accountants.
Assessment
Indicative assessments in this unit are as follows: (1) seminar tests; (2) research assignment; and (3) final exam. Further information is available in the unit outline.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Dr Glen Hutchings
Unit rules
Prerequisites:
ACCT5432 Introductory Financial Accounting; and ACCT5511 Intermediate Corporate Financial Accounting
Contact hours
lectures/seminars/workshops: up to 3 hours per week
Unit Outline
Semester 1-2020 [SEM-1-2020]
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
  • All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
  • Unit readings, including any essential textbooks, are listed in the unit outline for each unit one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook. Reading lists and essential textbooks are subject to change each semester. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus. Copies of textbooks and other readings will be made available for students to access from the Library, online wherever possible as well as in print.
  • If this unit is offered as on-campus face-to-face study only, students who are presently unable to enter Western Australia and whose studies would be delayed by an inability to complete this unit, should contact the unit coordinator (details given on this page) to ascertain, on an individual case-by-case basis, if alternate arrangements can be made to support their study in this unit.