Pre-requisite: 51002
This unit extends the basic accounting knowledge and skills gained from the study of introduction to accounting. This extension involves: (i) The consideration of the 'contracting' and 'regulatory' environment within which accounting procedures and reporting practices operate (ii) A detailed review of the conceptual framework element definition and recognition rules (iii) The application to the major operating entity structures (iv) The consideration of a range of accounting standards in relation to: (a) Implementation and reporting requirements (b) Consistency with the current outcomes of the conceptual framework programme (c) Possible implications from empirical accounting research