Financial Reporting and Accounting

Provides overview of financial accounting principles within New Zealand and the understanding and application of New Zealand Financial Reporting Standards. Focuses on the role of financial statements play in investment, analysis and contracting decisions.

Course Overview

The Financial Reporting and Accounting course focus on the New Zealand equivalent of International Financial

Reporting Standards (NZ IFRS). The graduate pro?le capabilities which will be developed further in this course are disciplinary knowledge and practice, critical thinking and solution-seeking.

The course material covers accounting for and ?nancial reporting of revenue, assets, liabilities, leases, foreign exchange transactions, deferred tax and consolidated financial statements.

Course Requirements

• Prerequisite: 60 points from BUSMGT 711–714 with at least a B- average

Learning Outcomes

By the end of this course, students will be able to:

• Explain the accounting standard-setting process and critically analyse contemporary issues. (Capability 1, 5.1 and 5.2)

• Evaluate the reasons for the position taken in each of the accounting standards selected for study and identify the underpinning theoretical issues. (Capability 1, 2 and 4.3)

• Demonstrate a practical understanding of the recognition and measurement requirements of the selected NZ IFRS on financial statements. (Capability 3, 4.1 and 4.2)

Workload Expectations

Following University workload guidelines, a standard 15 point course represents approximately 150 hours of study. Over the 10 teaching weeks of a single quarter, the class will meet for 5.5 hours per week comprising 1.5 hours of lectures, 2 hours of team-based learning (TBL) and 2 hours of tutorials. This leaves a total of 95 hours across the entire course for independent study, e.g. reading, reflection, preparing for assessments, etc.

Delivery Mode

Campus Experience

• Attendance is required at scheduled activities including lectures, tutorials and TBLs.
• Lectures will be available as audio recordings. Other learning activities will not be available as recordings.
• Attendance on campus is required for the test(s).
• The activities for the course are scheduled as a standard weekly timetable.

Learning Resources

• The required compulsory textbook for this course is (2020) Financial Reporting Handbook, New Zealand, CAANZ.

• We strongly recommend the (2021) Financial Reporting (Third Edition) Loftus, NZ: Wiley.

Student Feedback

At the end of every semester students will be invited to give feedback on the course and teaching through a tool called SET or Qualtrics. The lecturers and course co-ordinators will consider all feedback and respond with summaries and actions.

Your feedback helps teachers to improve the course and its delivery for future students.

Class Representatives in each class can take feedback to the department and faculty staff-student consultative committees.