ACC701 - Financial Accounting - Master of Accounting - Australian financial reporting - Accounting Assessment Answer

ACC701 - Financial  Accounting - Master of Accounting - Australian financial reporting - Assessment Answer 

Task

Explain and apply the concepts and regulations relating to financial accounting in accounting settings

Learning Outcomes

• Articulate measurement issues related to the covered topics; and locate and implement the disclosure requirements related to the
• covered topics
•  Identify and solve financial accounting problems by applying analytical and problem-solving techniques
•  Demonstrate technical competence in the relevant complex areas of accounting where measurement and recognition judgements need to be made.

Overview of the Subject

This subject introduces students to special topics relating to Australian financial reporting with an emphasis on recognition and measurement of assets and liabilities. It comprehensively covers a number of Australian-International Financial Reporting Standards relevant to reporting problems in particular areas (such as cash flows and revenue), and with reference to particular types of assets and liabilities (such as intangible assets, share-based payments, leases and complex financial instruments). In addition, the expanded disclosure is reviewed along with various proposals for strengthening external financial reporting.