Advanced Financial Accounting (AFM505)

Learning outcomes

Upon completion of this unit, students will be able to:

1. demonstrate an expert understanding of advanced issues in financial accounting with depth in corporate group structures and how to read and interpret/analyse contemporary group financial reports underpinning accounting standards and apply to business-related contexts;
2. demonstrate an expert knowledge on preparing consolidation journals and worksheet, and consolidated statement of comprehensive income and financial position ;
3. demonstrate an advanced and integrated knowledge and professional understanding of a range of accounting issues related to accounting for associates and joint arrangements, operating segments, foreign currency transactions and translating foreign operations, financial instruments; and their recording in financial statements and disclosures;
4. use a range of cognitive, communication and research skills to investigate, analyse, synthesise and reflect on relevant accounting information drawn from financial statements in order to demonstrate critical thinking and judgement in solving complex business-related problems;
5. work independently and/or collaboratively to plan and execute tasks to enhance professional knowledge and skills in advanced financial accounting; and
6. demonstrate an advanced understanding of corporate social responsibility and governance disclosure environments, and the ability to recognize, evaluate, reflect on and respond to a range of ethical and social influences on them.