The objective of this paper is to help students develop the technical skills in the interpretation and application of accounting standards and statutory requirements of financial reporting in New Zealand. This paper covers the preparation of general purpose financial reports for partnership, companies and other business combinations. The paper addresses the use and the interpretation of New Zealand International Reporting Standards in the preparation of financial reports. The topics covered in this paper are intended to provide an informed platform to underpin professional practice and continuing education in accounting. Students are expected to be creative and able to make informed choices, exercise judgement and provide good advice in relation to financial reporting. This paper is required by the Chartered Accountants ANZ for students majoring in accounting and as such it meets the academic requirements for students pursuing a career as a professional accountant. It is also prerequisite for some of the the advanced level accounting, auditing and taxation papers.

The paper is taught through lectures and tutorials on a weekly basis as follows:

1 x 1-hour lecture and 1 x 2-hour lecture

1 x one hour tutorial

1 x one hour workshop (computer lab)

Students in New Zealand are required to attend the face-to-face lectures, tutorials and workshops. Offshore students who have enrolled for the course from other countries such as China should follow the lessons online. Further details will be available for offshore students in Moodle.

The lecture time will incorporate lectures, review of problems and selected readings. The tutorial sessions are important. They will help students reinforce their learning through doing practical problems on the topics covered in lectures. In undertaking this paper students can expect to spend around 200 hours of input.

In the workshop, you will learn (i) Power Bi (analytics software) and this will be important for your future career opportunities and (ii) Accounting software package Xero using Accounting Pad (students enrolled for the paper offshore should contact the lecturer directly for further instructions on the accounting software ).

• use the weekly outline as a guide for time allocation,
• ensure enough time for tests preparation.

This paper will require substantial time to be spent outside of class working through the textbook, exercises and readings. For every hour spent in class you are expected to spend at least 3.5 hours of study/preparation.

TUTORIAL ASSIGNMENTS (10%)

This is an individual effort and not team effort.

There will be a total of 5 Tutorial Assignments for this course. This Tutorial Assignments will each cover a particular topic and will have to submitted online in Moodle. The due date and topic relating to each Tutorial Assignment is provided in the Schedule below.

Each Tutorial Assignment is worth 2 marks in total and the 5 Assignments carry a total of 10 marks. The Tutorial Assignment questions will be uploaded in Moodle two weeks before the due date of the assignment submission.

Marks will be given for completion of the Assignment as follows:

0 marks – no attempt at the work has been made

1 mark – some of the work has been completed

2 marks – a good, honest, attempt has been made at all of the required work

NB: It is not about the work being correct but rather that you have really had a good attempt at the work.

In undertaking this paper you can expect to spend around 200 hours of study input.

• use the weekly outline as a guide for your time allocation,
• make sure that you leave enough time for final exam preparation.

This paper will require substantial time to be spent outside of class working through the textbook, exercises and readings. For every hour spent in class you are expected to spend at least 3.5 hours of study/preparation.

Prerequisite(s)

Prerequisite papers: ACCT570