ACC1102 Financial Accounting (FOBUS)

Semester 2 (ONC)Toowoomba (ONC)Fraser Cst (ONC)Springfld (EXT)Toowoomba

Units 1.0 (Accounting) Band 3A

Pre-requisite: ACC1101

The study resources for this course are provided on a CD and online via the course home page. Students are required to have access to a personal computer, e-mail capabilities and Internet access to UConnect. Current details of computer requirements can be found at <http://www.usq.edu.au/ict/students/standards/default.htm>.

Synopsis

In this course we will consider the information provided by reporting entities such as partnerships and companies (including listed companies) through their financial statements (balance sheet, comprehensive income statement, statement of changes in equity and cash flow statement and notes to the accounts). We will also consider the role of the statutory disclosures and voluntary disclosures made by directors/management in the annual report. A number of specific accounting standards and generally accepted accounting principles (GAAP) will be examined in this course, including accounting for inventory, receivables, various non-current assets, liabilities, financial instruments and lease accounting). Students will be required to understand and apply the recognition, measurement and disclosure requirements of the standards and GAAP (for example, measure and record transactions and economic events) and be able to prepare each of the financial statements. We will also focus on reading, analysing and interpreting financial statement information and the role of this information in stakeholder decision making. Formerly ACC2103.