ACCT5704 Financial Accounting and Reporting

Credit
6 points
Offering
AvailabilityLocationMode
Not available in 2020UWA (Perth)Face to face
Content
Financial accounting is a pivotal aspect of an accountant's work and is the main reporting mechanism for preparing financial statements for organisations across all sectors of the economy.

This unit includes practical examples and activities that will develop your understanding of the conceptual framework for financial reporting, and enable you to reference Accounting Standards and pronouncements and apply your knowledge to a variety of practical scenarios.
Outcomes
Students are able to (1) learn how to prepare, interpret and analyse financial statements in a diverse range of situations; (2) apply your knowledge of accounting standards to practical situations; and (3) explain a Chartered Accountant's ethical requirements relating to financial reporting.
Assessment
Indicative assessments in this unit are as follows: (1) online assessments and (2) exam. Further information is available in the unit outline.

To pass this unit, a student must: (a) achieve an overall mark of 50 per cent or higher for the unit; and (b) achieve the requisite requirements(s) or a mark of 50 per cent or greater, whichever is higher and specified in the unit outline, for the exam component.

Supplementary assessment is not available in this unit.
Unit Coordinator(s)
Professor Phil Hancock
Unit rules
Prerequisites:
ACCT5432 Introductory Financial Accounting
ECON5541 Economics for Business: Applications and Policy
MGMT5504 Data Analysis and Decision Making
ACCT5511 Intermediate Corporate Financial Accounting
ACCT5522 Principles of Auditing
ACCT5531 Financial Accounting: Theory and Practice
ACCT5633 Accounting for Planning and Control
ACCT5637 Principles of Taxation
FINA5533 Finance Essentials
LAWS5508 Commercial and Company Law
MGMT5506 Ethics and Sustainability Management
Incompatibility:
ACCT5531 Financial Accounting: Theory and Practice
Contact hours
workshops: up to 3 hours per week
Note
Six-month rule
Legislation changes constantly. In the Program modules, you are expected to be up to date with relevant legislation, Standards, cases, rulings, determinations and other guidance as they stand six months before the exam date unless otherwise stated. In some instances the International Accounting Standard may have been updated while the Australian Standard or New Zealand
Standard may not. International Standards can be accessed from the IFRS website (www.ifrs.org), you will need to register to access the content on this website but it is free to do so.

You are always encouraged to be aware of developments in financial reporting. The relevant date for legislation is the date the legislation receives royal assent. The relevant date for Accounting Standards and other material is the issue date. Early adoption of Standards is generally encouraged.
  • The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
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  • Books and other material wherever listed may be subject to change. Book lists relating to 'Preliminary reading', 'Recommended reading' and 'Textbooks' are, in most cases, available at the University Co-operative Bookshop (from early January) and appropriate administrative offices for students to consult. Where texts are listed in the unit description above, an asterisk (*) indicates that the book is available in paperback.