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AFM417 Advanced Financial Accounting

Updated: 09 December 2009
Credit Points 6
Offering
Responsible Campus Teaching Period Mode of Study Online Level
Armidale Semester 1 On Campus D - Comp/internet essential
Intensive School(s) None
Supervised Exam There is a UNE Supervised Examination held at the end of the teaching period in which you are enrolled.
Pre-requisites candidature in MCom
Co-requisites None
Restrictions AFM311
Notes None
Combined Units AFM311 - Advanced Financial Accounting
Coordinator(s) Omar Al Farooque (omaral.farooque@une.edu.au)
Unit Description

A unit of lectures and tutorials dealing with advanced issues in company accounting and financial reporting. Particular issues to be addressed will include: accounting for group structures and consolidation accounting procedures; equity accounting; operating segments; construction contracts; related party disclosure; foreign currency transactions and translation of foreign operations; financial instruments; corporate social responsibility.
Prescribed Material
Mandatory 		Text(s):

Note: Students are expected to purchase prescribed material

Australian Financial Accounting
ISBN: 9780070277748
Deegan, C., Irwin/McGraw-Hill 6th ed. 2009
Text refers to: Semester 1 , On Campus
Recommended Material
Optional 		Text(s):

Note: Recommended material is held in the University Library - purchase is optional

Australian Accounting Standards
ISBN: 9780470818268
Picker R. and others, John Wiley 2nd ed. 2009
Text refers to: Semester 1 , On Campus
Referenced Material
Optional 		Text(s):

Note: Reference material is held in the University Library - purchase is optional

Financial Reporting Handbook 2009
ISBN: 9780470820391
The Institute of Chartered Accountants in Australia, Wiley 2009
Note: Available from the Dixson Library, UNE
Text refers to: Semester 1 , On Campus
2009 Accounting Handbook
ISBN: 9781442507685
CPA Australia, Prentice-Hall 2009
Note: Available from the Dixson Library, UNE
Text refers to: Semester 1 , On Campus
Disclaimer Unit information may be subject to change prior to commencement of the teaching period.
Assessment
Title Exam Length Weight Mode No. Words
Assignment 1 20% 2000
Assessment Notes
Practical exercises plus essay question
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1, 2 and 3 GA: 1, 2, 4, 5 and 6
Assignment 2 20% 2000
Assessment Notes
Practical exercises plus 1 essay question
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 3, 4, 5 and 6 GA: 1, 2, 4, 5 and 6
Final Examination 2 hrs 60%
Assessment Notes
Four practical exercises plus 1 essay question
Relates to Learning Outcomes (LO) and Graduate Attributes (GA)
LO: 1, 2, 3, 4, 5, 6 GA: 1, 2, 4, 5 and 6

Learning Outcomes (LO) Upon completion of this unit, students will be able to:
  1. understand how to read and interpret contemporary corporate financial reports;
  2. prepare the following types of consolidated financial statements: Statement of Financial Position (Balance Sheet), Statement of Financial Performance (Profit and Loss);
  3. analyse corporate group structures and distinguish between subsidiary and associated entities and joint venture operations and entities;
  4. understand how to translate foreign currency denominated transactions and translations of foreign currency, financial statements of foreign operations and subsidiaries;
  5. understand how to account for and disclose financial transactions and arrangements such as operating segments, construction contracts, related party transactions, as well as financial instruments and derivatives including foreign exchange;

Graduate Attributes (GA)
Attribute Taught Assessed Practised
1 Knowledge of a Discipline
Through lectures, lecture materials etc. 		True True True
2 Communication Skills
 True True True
3 Global Perspectives
Through AASB and IFRS/IIAS. 		True
4 Information Literacy
 True True True
5 Life-Long Learning
Academic skills required for life-long learning are assessed and practiced through the assessment activities. 		True True
6 Problem Solving
 True True True
7 Social Responsibility
Through Accounting Standards. 		True
8 Team Work
 True
   

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