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ACS2740: Financial accounting B

6 points, SCA Band 3, 0.125 EFTSL

Undergraduate – Unit

Refer to the specific census and withdrawal datesfor the semester(s) in which this unit is offered.

Faculty

Business and Economics

Offered

South Africa

  • First semester 2018 (On-campus)
  • Second semester 2018 (On-campus)
  • Summer semester B 2018 (On-campus block of classes)

Prerequisites

ACS2730 or equivalent.

Prohibitions

AFW2042, AFW2720, AFW3004, AFS2740

Synopsis

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.

Outcomes

The learning objectives associated with this unit are 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.

Assessment

Within semester assessment: 40% + Examination: 60%

Workload requirements

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.

Chief examiner(s)

Mr Adrian Pilley

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