ACS2740 Financial accounting B
Faculty of Business and Economics
ACS2740 Financial accounting B is a level 2, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 1, Semester 2 and Summer B at South Africa. It needs ACS2730 and unlocks 1 unit, leading on to 2 units in all.
- Credit points
- 6
- Offered in 2020
- Semester 1, Semester 2, Summer B
- South Africa
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2021 entry.
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Requisites
Before ACS2740
Prerequisites
Pass these before you enrol.
After ACS2740
1 unit list ACS2740 as a prerequisite or corequisite.
Overview
The unit covers various aspects of financial accounting and builds on the principles introduced in prior financial accounting units. It provides a detailed examination of applying IFRS with the focus on accounting for income taxes, earnings per share and the preparation and presentation of the statement of cash flows. The unit also introduces accounting principles governing group accounts and the preparation of group statements. Students are also exposed to using commercial accounting software to prepare accounting records in accordance with the IFRS covered in this and prior units.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | South Africa | On campus |
| Second semester | South Africa | On campus |
| Summer semester B | South Africa | Block on |
Assessment
- Within semester assessment40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
analyse and evaluate how entities apply the IFRS topics dealt with in this unit in their annual financial reporting, including the recognition, measurement, disclosure and presentation of these topics
- 2
evaluate and apply the IFRS on earnings per share and accounting for income taxes
- 3
prepare a statement of cash flows in conformity with IFRS
- 4
explain and apply the basic principles of accounting for group transactions, including business combinations and intracompany transactions, and the preparation of group financial statements
- 5
demonstrate proficiency in the use of a commercial accounting software package to enter and process accounting data according to selected IFRS and to analyse and interpret the resulting accounting information
- 6
apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial accounting and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by ACS2740.
Workload and teaching
- Tutorials12 hours
- Lectures48 hours
- Teaching approachActive 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.
Learning resources
Required resources
Service, Cathrynne, Gripping GAAP Your guide to International Financial Reporting Standards (2020 Ed) LexisNexis Service, C.L,.Kolitz,D.L., GAAP Graded Questions (2020 Ed) LexisNexis Binnekade, C.S. et al Group Statements Volume 1 Comptrehensive guide to Consolidated Financial Statements (17th Ed) LexisNexis
Contacts
- Chief Examiners
- Mr Adrian Pilley
Common questions
What are the prerequisites for ACS2740?
You need ACS2730 before you enrol.
What can I take after ACS2740?
ACS2740 is a prerequisite or corequisite for 1 unit, including ACS3730. Those lead on to 2 units in all.
When is ACS2740 offered?
In 2020, ACS2740 runs in Semester 1, Semester 2 and Summer B at South Africa.
How much work is ACS2740?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACS2740 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.
More details
- Credit points
- 6
- Level
- 2
- Study level
- Undergraduate
- Faculty
- Faculty of Business and Economics
- Organisational unit
- Department of Accounting
- Type
- Coursework
- EFTSL
- 0.125
- Student contribution
- SCA Band 3
- Study abroad
- Not available
- Handbook years
- 20202021