Students will expand their understanding gained in their previous core accounting units, to develop their accounting knowledge, skills and terminology in the context of more complex accounting issues. In particular, students are introduced to a number of accounting standards, their application and changes taking place within the accounting environment, particularly with regard to International Financial Reporting Standards. The consideration of the issues and techniques in this unit will enhance the skills students will need to perform effectively in the workplace as an accountant. Financial accounting is particularly concerned with the provision of information that is relevant and represented faithfully. It is a compulsory unit in the accounting major.
|Unit name||Financial Accounting|
|College/School||College of Business & Economics
Tasmanian School of Business and Economics
|Discipline||Accounting and Accountability|
|Coordinator||Doctor Rakesh Pandey|
|Available as student elective?||Yes|
|Delivered By||University of Tasmania|
|Location||Study period||Attendance options||Available to|
|Hobart||Semester 1||On-Campus||Off-Campus||International International||Domestic Domestic|
|Launceston||Accelerated Study Period 1||On-Campus||Off-Campus||International International||Domestic Domestic|
|Cradle Coast||Semester 1||On-Campus||International||Domestic|
- International students
- Domestic students
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Units are offered in attending mode unless otherwise indicated (that is attendance is required at the campus identified). A unit identified as offered by distance, that is there is no requirement for attendance, is identified with a nominal enrolment campus. A unit offered to both attending students and by distance from the same campus is identified as having both modes of study.
|Study Period||Start date||Census date||WW date||End date|
|Accelerated Study Period 1||31/1/2022||23/2/2022||17/3/2022||1/5/2022|
* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (refer to How do I withdraw from a unit? for more information).
Unit census dates currently displaying for 2022 are indicative and subject to change. Finalised census dates for 2022 will be available from the 1st October 2021. Note census date cutoff is 11.59pm AEST (AEDT during October to March).
- Interpret, analyse and explain the principles and objectives of accounting standards within the International Financial Reporting Standards (IFRS) environment.
- Choose and apply relevant accounting standards and principles to a range of problems.
- Work independently and cooperatively to monitor progress and communicate arguments in the reporting of accounting information to interested parties.
|Field of Education||Commencing Student Contribution 1||Grandfathered Student Contribution 1||Approved Pathway Course Student Contribution 2||Domestic Full Fee|
1 Please refer to more information on student contribution amounts.
2 Please refer to more information on eligibility and Approved Pathway courses.
3 Please refer to more information on eligibility for HECS-HELP.
4 Please refer to more information on eligibility for FEE-HELP.
Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.
2 hour fortnightly workshops; plus online content. Please refer to the timetable for dates, time and venue.
|Assessment||Online quiz via Respondus (25%)|Take Home Examination (40%)|Group assignment (35%)|
|Timetable||View the lecture timetable | View the full unit timetable|
You will need the following text [available from the Co-op Bookshop or suppliers such as Zookal - www.zookal.com/ or BookDepository - www.bookdepository.com/]:
**CAUTION: Look for the words ‘INTERACTIVE EBOOK CODE INSIDE’ on the bottom of the front cover of the textbook. The Library reserve copy also DOES NOT have access to the interactive materials. These are only available to individuals and not to institutional subscribers.
ALTERNATIVELY you may purchase just the E-BOOK version of Loftus et al. (2018) from the publisher, which includes the interactive content.
NOTE: This latest edition of Loftus et al. (2018) has combined interactive online activities in the textbook (i.e. the E-Text with additional online resources). This rich digital resource brings financial reporting to life with media such as videos, case studies, interactives and revision materials embedded at the point of learning.
CAANZ Financial Reporting Handbook 2019 Vol. 1, John Wiley & Sons, Milton, Qld.
Deegan, C 2016 Australian Financial Accounting 8th edn, McGraw-Hill, North Ryde
Henderson, S, Peirson, G, Herbohn, K, Artiach, T, and Howieson, B 2017 Issues in Financial Accounting 16th edn, Pearson Education Australia, French Forest, NSW.
Rankin, M, Stanton, P, McGowan, S, Ferlauto, K, and Tilling, M 2012 Contemporary Issues in Accounting, John Wiley & Sons, Milton, Qld.
Summers, J, and Smith, B, 2014 Communication Skills Handbook, 4th edn, John Wiley & Sons, Milton, Qld.
|Links||Booktopia textbook finder|
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.