Financial Accounting

University of Newcastle

Course Description

  • Course Name

    Financial Accounting

  • Host University

    University of Newcastle

  • Location

    Newcastle, Australia

  • Area of Study

    Accounting, Finance

  • Language Level

    Taught In English

  • Prerequisites

    ACFI1001, ACFI1002

  • Course Level Recommendations


    ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.

    Hours & Credits

  • Credit Points

  • Recommended U.S. Semester Credits
    3 - 4
  • Recommended U.S. Quarter Units
    4 - 6
  • Overview

    1. Identify the theoretical constructs of contemporary financial accounting;
    2. Demonstrate selected accounting standards, including the ability to apply such standards in appropriate circumstances;
    3. Investigate and evaluate issues surrounding contemporary accounting controversies;
    4. Analyse, evaluate and synthesise both quantitative and qualitative information to inform accounting skill, choice and decision;
    5. Independently or collaboratively communicate accounting knowledge and outcomes in both written and oral formats.
    The course topics include but are not limited to the following:
    Theories of Financial Accounting including the Conceptual Framework
    Accounting for Assets including Biological Assets
    Accounting for Liabilities
    Revenue Recognition
    Accounting for Leases
    Accounting for the Extractive Industries
    Accounting for Financial Instruments
    Accounting for Foreign Currency Transactions
    Preparation of External Financial Reports including Statement of Comprehensive Income, Statement of Changes in Equity, Statement of Financial Position and Statement of Cash Flows
    Other Disclosure Issues

Course Disclaimer

Courses and course hours of instruction are subject to change.

Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.