Courses & Units

Advanced Financial Accounting BFA742

Launceston

Introduction

Advanced financial accounting is designed to provide you with financial reporting and business skills that are applicable in an international professional environment. The subject is based on the International Financial Reporting Standards (IFRSs), which are issued by the International Accounting Standards Board (IASB). Many international jurisdictions have adopted or are progressively adopting the IFRSs. Advanced financial accounting provides information for corporate leadership. Members of the accounting profession with financial reporting skills and knowledge provide business advice to board directors, analysts, shareholders, creditors, colleagues and other stakeholders. Members of the accounting profession who provide assurance services for financial reports also require a good understanding of the IFRSs. Directors are also required to state that the financial statements are fairly stated. These examples reinforce the importance of Advanced financial accounting. Advanced financial accounting is a significant part of an entity’s governance and accountability process, issues that are covered in the subject Ethics and Governance. Compliance with the IFRSs is important because it results in the presentation of fairly stated financial statements. This presentation outcome is also the aim of audit and assurance services. The assurance knowledge and audit skills are taught in the subject Advanced Audit and Assurance. While taxation is covered in the subject Advanced Taxation, and while it is distinct from financial reporting, the accounting for tax is recognised as material information and therefore included in this subject. Financial reporting provides information about the business operations and the financial results.

Summary

Unit name Advanced Financial Accounting
Unit code BFA742
Credit points 12.5
Faculty/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Accounting and Corporate Governance
Coordinator

Dr Seedwell T.M. Sithole

Level Postgraduate
Available as student elective? No
Breadth Unit? No

Availability

Location Study period Attendance options Available to
Launceston Semester 2 On-Campus International Domestic

Key

On-campus
Off-Campus
International students
Domestic students
Note

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Key Dates

Study Period Start date Census date WW date End date
Semester 2 13/7/2020 10/8/2020 31/8/2020 18/10/2020

* 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 (see withdrawal dates explained for more information).

Unit census dates currently displaying for 2020 are indicative and subject to change. Finalised census dates for 2020 will be available from the 1st October 2020.

About Census Dates

Learning Outcomes

LO1articulate measurement issues related to the covered topics; and locate and implement the disclosure requirements related to the covered topics
LO2apply IFRSs in the preparation of general purpose financial statements
LO3explain details relating to general purpose financial statements
LO4prepare general purpose financial statements for designated entities, including the exercise of professional judgment

Fees

Domestic

Band CSP Student Contribution Full Fee Paying (domestic) Field of Education
3 2020: $1,394.00 2020: $2,702.00 080101

Fees for next year will be published in October. The fees above only apply for the year shown.

Please note: international students should refer to this page to get an indicative course cost.

Requisites

Prerequisites

BFA507 AND BFA605

Teaching

Teaching Pattern

1 x 2-hr lecture (wks 1-13), 1 x 1-hr tutorial (wks 2-13).

Assessment

Quiz (10%), Test (20%), Case Study Analysis (20%), Examination (50%).

TimetableView the lecture timetable | View the full unit timetable

Textbooks

Required
  • Module topic notes – to be available on MyLO
  • Deegan, C. (2016). Australian Financial Accounting, 8th ed., McGraw-Hill Irwin
Co-op Bookshop links

The University reserves the right to amend or remove courses and unit availabilities, as appropriate.