FAC3701 - General Financial Reporting

Purpose: To gain knowledge of and insight into, as well as the ability to apply this knowledge to the preparation of financial statements, for the following subject matter: the conceptual framework; the requirements for financial statement presentation taking into account certain items which affect the statement of profit or loss and other comprehensive income and the statement of financial position; the accounting treatment and disclosure of income taxes, including deferred tax; revenue; changes in accounting policies; estimates and errors; events after the reporting period; provisions, contingent liabilities and contingent assets; fair value measurements; and the tax implications of the preceding topics.