ACCT19062 Issues in Financial Reporting

This course commences with an overview of the Australian financial reporting environment by focussing on: accounting standard setting arrangements; harmonisation of accounting practices; and the conceptual framework for accounting. The remainder of the course examines a number of specific financial reporting issues that are the subject of Australian Accounting Standards Board (AASB) accounting standards. These issues include: intangible assets, leases; the extractive industries; and foreign currency transactions. Students will be required to gain an understanding of the practical aspects of these issues, as well as be able to critically analyse their theoretical aspects.