Advanced Financial Accounting (AFM305)

Learning outcomes

Upon completion of this unit, students will be able to:

1. demonstrate a broad and coherent understanding of advanced issues in financial accounting with depth in corporate group structures and how to read and interpret/analyse contemporary group financial reports underpinning accounting standards, and apply them to business-related contexts;
2. demonstrate professional knowledge on preparing consolidation journals and worksheets, and consolidated statements of comprehensive income and financial position;
3. demonstrate a broad and coherent understanding of a range of accounting issues related to accounting for associates and joint arrangements, related party disclosure, foreign currency transactions and translating foreign operations, financial instruments, and their recording in financial statements and disclosures;
4. use a range of cognitive and communication skills to review, analyse, consolidate and synthesise relevant accounting information drawn from financial statements in order to demonstrate critical thinking and judgement in solving complex business-related problems;
5. work independently and/or collaboratively to plan and execute tasks to enhance professional knowledge and skills in advanced financial accounting; and
6. demonstrate a comprehensive understanding of corporate social responsibility and governance disclosure environments, and the ability to recognise, reflect on and respond to a range of ethical and social influences on them.