units

AFS3730

Faculty of Business and Economics

Undergraduate - Unit

This unit entry is for students who completed this unit in 2013 only. For students planning to study the unit, please refer to the unit indexes in the the current edition of the Handbook. If you have any queries contact the managing faculty for your course or area of study.

print version

6 points, SCA Band 3, 0.125 EFTSL

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LevelUndergraduate
FacultyFaculty of Business and Economics
Organisational UnitDepartment of Accounting and Finance
OfferedSouth Africa First semester 2013 (Day)

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 and/or more detailed exploration (than AFS2730 or AFS2740) of applying reporting standards (IFRS) in a financial reporting environment, with the focus on conceptual framework; preparation and presentation of financial statements; provisions, contingent liabilities and contingent assets; revenue recognition; income taxes (including deferred tax); leases, non-current assets held for sale and discontinued operations; the effects of changes in foreign exchange rates and hedging; employee benefits; share-based payments; financial instruments; and earnings per share.

Outcomes

The learning objectives associated with this unit are to:

  1. critically analyse the conceptual framework with regards to the objective of general purpose financial reporting; the specific information needs of users, as well as the general information needs of other users; the qualitative characteristics and underlying assumption of useful financial information; the appropriate definitions of elements and their recognition criteria.
  2. discuss the key aspects of the conceptual framework (as described in objective 1) as applied to the preparation and presentation of financial statements, as well as the various spectrum of accounting topics dealt with in this unit.
  3. discuss, apply, calculate and explain the detailed requirements relating to various IFRS topics, including recognition, measurement, disclosure and presentation of these topics: provisions, contingent liabilities and contingent assets; revenue recognition; income taxes (including deferred tax); leases, non-current assets held for sale and discontinued operations; the effects of changes in foreign exchange rates and hedging; employee benefits; share-based payments; financial instruments; and earnings per share
  4. identify, discuss and apply the detailed requirements of the various IFRS topics included in this unit to integrated accounting case studies and practical scenarios, in order to identify and solve all the related issues regarding a variety of IFRS problems included in one scenario.
  5. apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with financial according and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by AFS3730.

Assessment

Within semester assessment: 30%
Examination: 70%

Chief examiner(s)

Contact hours

5 hours per week

Prerequisites

AFS2740 or AFW2720

Prohibitions

AFW2042, AFW3004, AFW3730