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Financial Accounting

Unit Code: HBC221N




Duration

Contact Hours

Campus

Prerequisite

Corequisite

One Semester or Term

36 Hours

Hawthorn, Sarawak

HBC110N Accounting for Managers/Accounting for Success (HBC110) and HBC220N Financial Information Systems/Financial Information Systems (HBC220). 

 Nil

Credit Points: 12.5 Credit Points

Related Course/s:

A unit of study in the Bachelor of Commerce suite of programs.

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Aims & Objectives:

At the completion of this unit, students should be able to:
  • Convert basic accounting information into partial group financial statements
  • Utilize Australian Accounting Standards and suggest specific and appropriate accounting solutions
  • Distinguish between alternative accounting treatments for different accounting elements and consider and illustrate solutions
  • Convey knowledge of the accounting framework and how it affects the reporting of financial information
  • Develop problem solving abilities in the application of the principles of corporate accounting and suggest reasoned solutions to practical problems
  • Develop independent research skills through the assignment of research areas within the unit and communicate this information via the use of relevant accounting standards and corporate law

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Teaching Methods:

Lecture/seminars (1 hour), Tutorials (2 hours)
Lecture/seminars will be used to introduce the topics and resources, demonstrate concepts.
 
Tutorials will provide a forum for demonstration, discussion and topic questions and give students the opportunities to gain experience in problem solving and communication.

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Assessment:

Assignment (10%), Two Tests (15% each), Examination (60%)

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Generic Skills Outcomes:

The graduate attributes which relate to this unit help to produce graduates who are:
  • Capable in their chosen professional, vocational or study areas
  • Entrepreneurial in contributing to innovation and development within their business, workplace or community
  • Effective and ethical in work and community situations
  • Adaptable and able to manage change
  • Aware of local and international environments in which they will be contributing (eg socio-cultural, economic, natural)

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Content:

  • Nature & Regulation of Companies
  • The Conceptual Framework
  • Shareholders’ Equity: Share Capital and Reserves (includes advanced issues)
  • Accounting for Income Tax
  • Business Combinations
  • Consolidations and Consolidated Financial Statements
  • Accounting for Property Plant and Equipment
  • Impairment of Assets
  • Liquidations
  • Accounting Standards and Financial Statement Disclosure

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Reading Materials:

Students are advised to check the unit outline in the relevant teaching period for appropriate textbooks and further reading.

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