BUS201 Financial Accounting
|Our aim is to provide you with an optimal learning experience, regardless of how this unit is delivered. Teaching will be delivered in line with the most current COVID Safe health guidelines. This may include a mix of online and face-to-face. Please check the learning management system for announcements and updates. Thank you for your flexibility and commitment to studying with Sydney Institute of Higher Education.
|Year 2, Semester 1
|BUS101 Introductory Accounting
|Typical study commitment:
|Students will on average spend 10 hours per week over the teaching period undertaking the teaching, learning and assessment activities for this unit.
|Scheduled learning activities:
|4 timetabled hours per week, 6 personal study hours per week
This unit addresses the necessary knowledge and skills of financial accounting. It will instruct students on the reporting requirements applicable to entities as well as the preparation of consolidated financial statements under the International Financial Reporting Standards (IFRSs). Students will be able to perform accounting for assets revaluation and impairment, income tax, consolidated financial statements, investments in associates and foreign currency transactions, all whilst applying professional judgement.
Unit learning outcomes (ULO)
|On the successful completion of this units student will be able to:
|Carry out preparation of consolidated financial statements while conforming to the International Financial Reporting Standards (IFRS), Australian Accounting Standards (AASB) and International Accounting Standards (IAS).
|Perform asset revaluation and impairment and carry out accounting practices for income tax and business combinations.
|Dissect the accounting frameworks for foreign exchange to record and disclose foreign currency transactions.
|Analyse consolidated financial statements using conceptual frameworks and accounting principles.
|Study the nature of associates and joint ventures and perform accounting practices for investments in associates and interests in joint ventures.
Topics to be included in the unit
|Financial reports and disclosure
|Accounting for events occurring after reports date
|Depreciation of PPE
|Revaluation and impairment testing
|Accounting for income taxes
|Business combination through acquisition
|Consolidation accounting: intra-group transactions
|Consolidation accounting: non-controlling interests
|Consolidation accounting: indirect non-controlling interests
|Accounting for investments in associates
|Accounting for interests in joint ventures
|Accounting for foreign currency transactions
Grading and weighting
(% total mark for unit)
|Indicative due week
|Assessment 1: Class Participation
|Assessment 2: Mid-Semester Exam
|Mid-semester exam week
|Assessment 3: Group Assignment
|Assessment 4: Final Exam
|Final exam week
The assessment due weeks provided may change. Your lecturer will clarify the exact assessment requirements, including the due date, at the start of the teaching period.