Advanced Financial Accounting

Unit code: BAO3309 | Study level: Undergraduate
Credit points
12
(Generally, 1 credit = 10 hours of classes and independent study.)
Location
City Campus
VU Sydney
Prerequisites
BAO3002 - Corporate Accounting and Sustainability Reporting
(Or equivalent to be determined by unit coordinator)
Overview
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Overview

Analyse how various accounting theories can either explain or prescribe corporate reporting practices.



Given that the disclosure of financial and non-financial information by firms can be due to various factors, multiple theories therefore examined.



This unit will explore why business organisations disclose specific information externally and analyse the associated reporting practices using relevant theories.

You will examine:

  • Measurement issues, specifically accounting for agriculture, financial instruments and the extractive industries
  • The conceptual framework
  • The extent of global convergence with the International Financial Reporting Standards
  • Corporate sustainability reporting practices
  • The reaction of capital markets to financial accounting information
  • The regulation of financial accounting
  • Positive accounting theory

Learning Outcomes

On successful completion of this unit, students will be able to:

  1. Articulate an enhanced understanding of the role of theory in the development of accounting and the financial reporting environment;
  2. Critically reflect on and evaluate theories that explain financial and corporate social and environmental reporting;
  3. Assess factors that influence financial and non-financial accounting practice with reference to a broad and coherent body of theoretical knowledge;
  4. Critically analyse and justify accounting standards that apply to financial reporting to improve skills in exercising professional judgement in accounting practice; and,
  5. Evaluate and debate contemporary issues relevant to the internationalisation of accounting standards.

Assessment

For Melbourne campuses

Assessment type: Test
|
Grade: 50%
MCQ and Application Test x2 (test 1: 15%, test 2: 35%)
Assessment type: Case Study
|
Grade: 20%
Individual Case studies on the application of accounting standards and exercising professional judgement
Assessment type: Project
|
Grade: 30%
Research project: 20% / Presentation:10% (Group)

Other locations

For students studying at Henan University, Liaoning University
Assessment type: Test
|
Grade: 10%
Mid semester test
Assessment type: Project
|
Grade: 40%
Research project assignment (Group)
Assessment type: Examination
|
Grade: 50%
Final exam

Required reading

Students will have access to required readings via VU Collaborate and are not required to purchase the listed textbook.

Contemporary issues in accounting (pp. 1–372).
Rankin, M. (2022). | Wiley.
Financial reporting
Loftus, J., Leo, K., Boys, N., Daniliuc, S., Luke, B., Ang, Hong N., Byrnes, K. (2022).| John Wiley & Sons.

As part of a course

This unit is studied as part of the following course(s):

Bachelor of Accounting
BBAQ | Bachelor degree | Duration: 3 years

Refer to the course page for information on how to apply for the course. VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.

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