Accounting and Financial Management is an introduction to financial reporting, and the gateway unit to further study in accounting leading to a major in accounting. This unit builds upon the accounting context, presented in BUSS1030 Accounting, Business and Society, with the aim of developing the technical skills of recording basic business transactions through accounting systems. In addition to this technical focus, specific attention will be given to the way in which the accounting information can be used to undertake financial management and analysis, to give students the ability to produce and interpret financial reports.

This unit examines the accounting and reporting practices of reporting entities, particularly listed public companies. Emphasis is placed on developing an understanding of, and the ability to critically evaluate, the various regulatory requirements (professional and statutory) governing financial reporting. The unit commences with an overview of the financial reporting environment and theories that seek to explain the accounting policy choices of management. This framework provides a basis for examining a range of specific issues in financial accounting. Emphasis throughout the unit is on both the application of specific accounting techniques/rules and the conceptual/theoretical issues associated with alternative accounting methods.

This unit provides students with an introduction to the basics of management/cost accounting; it equips them with basic skills to use an industry - standard accounting system and management accounting information efficiently and effectively. Areas specifically covered include: cost terms and purposes, cost behaviour, cost - volume - profit analysis, cost estimation, basic and alternative product costing methods, detailed study of the mechanics of the budgeting process (master budgets, flexible budgets, standard costing and variance analysis, capital budgeting), sustainability and environmental management accounting, decision making using relevant costs/revenues and cost allocation.

This unit introduces students to accounting for investments in entities that are controlled, significantly influenced, or jointly controlled by the investor. The unit starts by assessing whether an investment should be consolidated, the process of consolidation, the preparation of consolidated financial statements for corporate groups, including the treatment of goodwill, intra-group transactions and non-controlling interests. Other aspects of group accounting, such as equity accounting, segment disclosures, related party disclosures, and foreign currency translation are investigated. A critical analysis of group accounting is then undertaken, including a consideration of the outcomes of related processes, and the impacts on users. The unit also critically evaluates current issues in accounting regulation and practice, and the politics of standard-setting process. Accounting issues regarding financial instruments are further developed focusing on hedge accounting as a special case. Finally, voluntary disclosures for social and environmental reporting are considered. This unit aims to further develop student¿s written communication skills and critical and analytic skills within the context of corporate group activities.

Management Accounting B deals with the theory and practice of a selection of contemporary management accounting issues. The course begins by examining the influences that impact upon the design of an organisation and its management accounting system. Behavioural factors, rather than technical factors, are highlighted and a range of organisational settings and management levels are reviewed. The unit then examines advanced issues relevant to operational management accounting. While this section of the course builds on the foundations laid in Management Accounting A, the focus remains on the behavioural implications of accounting techniques for making decisions in organisations.

Although the appropriate 'form' of financial analysis depends largely on the specific context (e.g. equity investment, credit extension, analysis of supplier/customer health, competitor analysis, regulatory overview or intervention, valuation for takeover/restructuring), many of the techniques of financial analysis are common to each. A primary purpose of this course is to develop an understanding of these techniques, as well as the inherent difficulties in their application. Specific issues addressed include the analysis of business performance and disclosure, the analysis of earnings quality, cash flow assessment, credit worthiness and accounting-based valuation methods.

This unit of study examines the process of auditing, highlighting the important concepts which underpin the practice of auditing. Although the focus of attention is on the audit of corporate financial reports undertaken in compliance with the Corporation Act 2001 (Cth), reference is also made to other forms of audit and assurance activities. This unit of study is intended to provide an overview of the audit process within the context of Australian Auditing Standards. The course is both practical and theoretical, with students expected to apply their knowledge to practical case studies developed from practice.

This unit examines the evolving view of corporate governance from an international perspective, with reference to Australian principles. Corporate governance from a narrow view is concerned with how a corporation is controlled, to the establishment of sets of arrangements affecting the conduct of an organisation and its relationship with stakeholders. Specific issues examined in this unit include the legal framework; control and culture of the modern corporation; operations of a Board; role of board sub-committees; Boards and the development or endorsement of strategies; measuring and rewarding performance; corporate governance, financial reporting and disclosure; corporate governance and the audit process; governance within the global financial crisis.