Pre-requisite: Associate Level membership or above, of the
Pre-requisite: National Institute of Accountants.
This unit requires students to consider the role of accounting in conveying an organisation's economic and social performance. Students will be required to learn about the Australian Conceptual Framework Project and be able to critically assess its usefulness and logic. A number of specific accounting standards will be studied and students will be required to understand the mechanics of applying the standards; the consistency of particular standards in relation to the reporting/measurement requirements embodied within other standards and the Conceptual Framework; and, related empirical research which considers the economic and/or social implications that may result from the implementation of the particular standards. On completing the unit students should be knowledgable of a large proportion of the accounting and reporting requirements that pertain to single business entities.