ACCTN302-23B (TGA)

Financial Accounting

15 Points

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The University of Waikato
Academic Divisions
Division of Management
School of Accounting, Finance and Economics

Staff

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Convenor(s)

Lecturer(s)

Administrator(s)

: uwt@waikato.ac.nz

Placement/WIL Coordinator(s)

Tutor(s)

Student Representative(s)

Lab Technician(s)

Librarian(s)

: yilan.chen@waikato.ac.nz

You can contact staff by:

  • Calling +64 7 838 4466 select option 1, then enter the extension.
  • Extensions starting with 4, 5, 9 or 3 can also be direct dialled:
    • For extensions starting with 4: dial +64 7 838 extension.
    • For extensions starting with 5: dial +64 7 858 extension.
    • For extensions starting with 9: dial +64 7 837 extension.
    • For extensions starting with 3: dial +64 7 2620 + the last 3 digits of the extension e.g. 3123 = +64 7 262 0123.
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What this paper is about

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This paper is designed to deepen understanding of the issues involved in the current practices, principles and regulations of New Zealand accounting. The paper critically discusses major issues of accounting practice and research. The paper further facilitates critical and independent thinking, enhances analytical ability and fosters creativity and initiative.

In highlighting the policy issues involved in the choice of accounting methods, this paper attempts to take students beyond a mere mastery of technical skills.

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How this paper will be taught

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This paper examines various issues of accounting practice and research. The paper aims to foster critical and independent thinking, enhance analytical ability, creativity and initiative in students. Although the development of technical skills is important, students are encouraged to develop intellectual ability so as to be in a position to reflect upon current accounting practice in a critical manner.

This paper is designed to facilitate students’ understanding of the issues involved in the principles, practices and regulations of accounting within the New Zealand environment. The paper is a prerequisite for those wishing to fulfill CA ANZ requirements.

Lectures

Lectures provide a summary of the important and current issues of the topics under discussion. They provide a forum where particular accounting issues are discussed and debates surrounding various issues are analyzed. You are expected to go through the material before each class. Students are introduced to current practice and future developments, which will require critical reflection. Lectures offer starting points from which students can explore aspects in more detail and are designed to stimulate interest and self-initiative in students to further their studies. To be successful in this paper you should practice as many questions as you can. The only way to improve your chances of success in this paper is to attempt many questions. Assessment in this paper does not take the form of a memory test, or a test as to how well you can read the textbook. Assessment in this paper requires the application of knowledge, not just learning it! The application comes about through practice with questions. Please check On-Line Timetable before lectures and tutorials as teaching rooms may change.

Tutorials

Students are HIGHLY ENCOURAGED to attend the tutorials face-to-face at the venues indicated in Timetable. You can however follow the tutorial online or view the recorded video later if you have any unavoidable reasons for which you can't attend the tutorials face-to-face.

Students will be expected to try out the tutorial questions prior to the tutorials sessions. Material and concepts covered in the tutorials are examinable. Solutions to tutorials are generally available on Moodle. However solutions ARE NOT provided to all tutorial questions. These will commence in the first week of lectures and will be held on a weekly basis for the remainder of the semester.

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Required Readings

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Recommended Readings

1. Deegan, C. & Samkin, G., (2013) New Zealand Financial Accounting 6e, McGraw-Hill

2. New Zealand Accounting Standards (NZ IAS)
3. In The Black Magazine by CPA Australia
4. Technical Articles on Financial Reporting by ACCA
5. Technical Articles on Strategic Business Reporting by ACCA
6. The CPA Journal - The Voice of the Accounting Profession

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Learning Outcomes

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Students who successfully complete the course should be able to:

  • Prepare financial statements for a basic company applying IFRSs and including the notes that accompany the statements
    Linked to the following assessments:
  • Demonstrate knowledge of International Financial Reporting Standards and the ability to determine compliance when reviewing a transaction, event or condition in financial reporting
    Linked to the following assessments:
  • Prepare financial statements, including consolidated financial statements for a parent company with a wholly owned subsidiary applying IFRSs or other relevant standards
    Linked to the following assessments:
  • Apply accounting standards that involve measurement and professional judgement in the areas of provisions, foreign exchange, leases, asset impairments, financial instruments and business combinations
    Linked to the following assessments:
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Assessments

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How you will be assessed

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Please note Assessment items in the components list below.
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The internal assessment/exam ratio (as stated in the University Calendar) is 100:0. There is no final exam. The final exam makes up 0% of the overall mark.

The internal assessment/exam ratio (as stated in the University Calendar) is 100:0 or 0:0, whichever is more favourable for the student. The final exam makes up either 0% or 0% of the overall mark.

Component DescriptionDue Date TimePercentage of overall markSubmission MethodCompulsory
1. Test 1
9 Aug 2023
6:30 PM
30
  • Online: Submit through Moodle
2. Test 2
27 Sep 2023
6:30 PM
30
  • Online: Submit through Moodle
3. Assignment
11 Oct 2023
11:30 PM
10
  • Online: Submit through Moodle
4. Test 3
18 Oct 2023
5:00 PM
30
  • Online: Submit through Moodle
Assessment Total:     100    
Failing to complete a compulsory assessment component of a paper will result in an IC grade
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