Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.
The principal aim of this unit is to continue to provide students with the theoretical underpinnings and practical application of additional financial accounting standards as grounded in the International Financial Reporting Standards (IFRS). The unit is a continuation to the International Financial Reporting Standards that are applied in financial accounting internationally including in South Africa. It also provides a more detailed examination of standards previously introduced with a focus on the conceptual framework, presentation of financial statements, provisions, contingent liabilities and assets, revenue recognition, non-current assets held for sale, earnings per share and income taxes. It introduces new individual standards for leases, effects of foreign exchange rates and hedging, employee benefits, share-based payments and financial instruments.
Within semester assessment: 40%
Minimum total expected workload to achieve the learning outcomes for this unit is 150 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.
Intermediate accounting using the International Financial Reporting Standards
Financial accounting C