ACCT 207 : Financial Accounting - Australian Catholic University

Internal Code : MAS4814

Financial Accounting Assignment :

1. Reflect on the fundamental and ethical role of Accountants in identifying and promoting stewardship by exploring new standards of reporting in sustainability reporting such as Triple Bottom Line reporting. 2. Discuss the theoretical principles of the conceptual framework of accounting that underlie accounting practice. 3. Explain the regulatory framework and the role that this framework plays in the preparation and presentation of financial reports. 4. Record and disclose a complex range of financial accounting events in accordance with accounting standards. 5. Prepare general purpose financial statements in line with National and International Financial Reporting Standards. 6. Collaboratively evaluate the application of accounting standards in an organisation’s annual report.

Topics will include:

• Financial Accounting in a business context • Regulatory Framework, Role of Accounting Standards • The Reduced Disclosure Requirements Regime • Conceptual Framework • Assets, Depreciation, Revaluation & Impairment and Liabilities • Share Capital and Reserves • Statement of Profit or Loss and Other Comprehensive Income • Revenue Recognition Issues • Accounting for Employee Benefits • Accounting for Financial Instruments • Accounting for Share Based Payments • Spreadsheets as an Accounting Tool for decision making