University of Adelaide ACCT2501

The purpose of this course is to instruct students in developing technical and problem-solving skills in the field of corporate external financial reporting. Corporate external financial reporting includes financial reporting by the reporting entity to external stakeholders. Reporting entities must report in accordance with Australian Accounting Standards. Students on this course will acquire the skills to read, interpret and apply accounting standards. This course builds on entry-level financial accounting. The course is essential for all individuals who are exposed to financial information in the workplace, including accountants, auditors, financial analysts, managers, bankers and supervisory bodies involved in the preparation or use of corporate financial statements.

Two Learning Outcomes

1. explain how to apply selected Australian Accounting Standards to specific transactions and other financial events
2. Apply the definitions, recognition and measurement concepts set out in Australian Accounting Standards to specific transactions and other financial events
3. Prepare specific aspects of generic financial statements and related disclosures in accordance with the reporting requirements of Australian Accounting Standards
4. Communicate clearly and concisely when presenting, discussing and reporting knowledge and ideas in formal and informal settings

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