ACF5956 Advanced financial accounting
Faculty of Business and Economics
ACF5956 Advanced financial accounting is a level 5, 6-credit-point, postgraduate unit from the Faculty of Business and Economics, offered in 2023 in Semester 1 and Semester 2 at Caulfield. It needs ACF5953 and unlocks 2 units.
- Credit points
- 6
- Offered in 2023
- Semester 1, Semester 2
- Caulfield
- Assessment
- Exam 50%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2023 handbook entry. See the 2027 entry.
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Requisites
Before ACF5956
Prerequisites
Pass these before you enrol.
After ACF5956
2 units list ACF5956 as a prerequisite or corequisite.
Enrolment rules
If you are enrolled in course B6002, there is no prerequisite.
Overview
This unit is one of the final core units in the Master of Professional Accounting, and builds on knowledge and skills gained in earlier units in financial accounting. One of its primary purposes is to introduce you to theories currently being used to assist in understanding the role of financial accounting and reporting in the decision making process of both preparers and users of information. These theories include positive accounting theory, stakeholder and legitimacy theories. It also addresses how regulation might influence the production of accounting information.
The unit addresses a number of contemporary accounting topics, from both a practical and theoretical perspective. These include intangible assets, social and environmental reporting, financial instruments and foreign currency transactions.
Offerings in 2023
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | Caulfield | Evening |
| First semester | Caulfield | On campus |
| Second semester | Caulfield | On campus |
Assessment
- Within semester assessment50%
- ExaminationThreshold hurdle50%
Learning outcomes
When you finish this unit, you should be able to:
- 1
apply a range of theories of accounting to explain financial accounting and reporting practices and appreciate the judgments, estimations and assumptions influencing accounting numbers
- 2
critically assess and analyse changing influences in standard setting, and impacts of regulatory requirements on financial reporting practices
- 3
assess the role of financial accounting in sustainable development and corporate social and environmental performance reporting
- 4
analyse a range of financial reporting issues, including intangible assets, financial instruments and foreign currency transactions, from both a practical and theoretical perspective
- 5
demonstrate effective research skills to contribute to the production of a business report as part of a team; and critically reflect on your contribution to the teamwork; in addition to demonstrating in individual summative assessment tasks the acquisition of a comprehensive understanding of the topics covered in this unit.
Workload and teaching
- Lectures18 hours
- Tutorials18 hours
- Teaching approachCase-based teaching
- Teaching approachActive learning
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
This unit includes case-based teaching, where you apply your knowledge and engage in analytical and reflective thinking to solve complex contextual scenarios. Activities are often designed so that there is not one clear answer, but you need to work together to examine, analyse and make decisions to resolve the situation.
This unit engages you in actively applying your knowledge, skills and attributes in interactive, collaborative and reflective activities.
This unit includes problem-based learning approaches, where you engage in research, integrate theory and practice and apply knowledge and skills to develop viable solutions in response to a problem or set of problems.
Learning resources
Required resources
Loftus, J., Leo, K., Daniluc, S., Boys, N., Ang, H. and Byrnes, K. (2020). Financial reporting (3rd edition). Milton, Qld: John Wiley and Sons.
This can be purchased as an eText - refer to http://www.wileydirect.com
Technology resources
There may be an additional cost associated with purchasing a physical and/or virtual calculator. Specific details will be provided in the Learning Management System by commencement of Orientation week.
Contacts
- Chief Examiners
- Dr Xinning Xiao
- Dr Janto Haman
Common questions
What are the prerequisites for ACF5956?
You need ACF5953 before you enrol. Enrolment rules also apply.
What can I take after ACF5956?
ACF5956 is a prerequisite or corequisite for 2 units, including ACF5150 and ACF5510.
When is ACF5956 offered?
In 2023, ACF5956 runs in Semester 1 and Semester 2 at Caulfield.
How much work is ACF5956?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACF5956 have an exam?
Yes. The exam is worth 50% of the final mark, alongside 1 other task.