Overview
Financial Accounting II extends introductory accounting principles to the recognition, measurement, presentation, and disclosure of complex financial information. The course examines the conceptual framework and qualitative characteristics of useful financial information, including the effects of accounting choices on reported performance and financial position.
Topics include cash and receivables, inventory valuation, property, plant and equipment, intangible assets, impairment, liabilities, provisions and contingencies, bonds and other debt instruments, shareholders' equity, revenue recognition, leases, income taxes, accounting changes and error corrections, cash flow statements, and selected financial statement disclosures. Depending on program scope, the course may also address investments, pensions, and foreign currency transactions.
Students apply accounting standards to complex transactions, prepare and adjust financial statements, analyze liquidity and solvency, evaluate judgment and estimation risks, and interpret published company reports. Instruction emphasizes ethical responsibilities, professional skepticism, internal controls, and clear communication of accounting conclusions.
Learning Outcomes
- Apply the conceptual framework and qualitative characteristics to complex financial reporting decisions.
- Record and adjust transactions involving receivables, inventories, long-lived assets, liabilities, equity, revenue, leases, and income taxes.
- Prepare classified financial statements, cash flow statements, and selected financial statement disclosures in accordance with relevant accounting standards.
- Evaluate the effects of accounting treatments on profitability, liquidity, solvency, and financial position.
- Analyze provisions, contingencies, impairment indicators, accounting changes, and error corrections using appropriate professional judgment.
- Interpret published company reports and identify significant estimation, control, and financial reporting risks.
- Evaluate ethical responsibilities, professional skepticism, and internal control considerations in financial reporting.
- Communicate well-supported accounting conclusions clearly in written, numerical, and oral formats.
Timetable
| Type | Length | Frequency | Period |
|---|---|---|---|
| Lecture | 2 hours | Weekly | All semester |
| Tutorial | 1 hour | Weekly | All semester |
| Workshop | 2 hours | Fortnightly | All semester |
| Seminar | 1 hour | Fortnightly | Second term |
Assessment Schedule
| Type | Description | Weighting |
|---|---|---|
| Assignment | Problem sets: complex transaction recognition and measurement. | 15.00% |
| Assignment | Financial statement preparation and adjustment assignment. | 15.00% |
| Test | Mid-semester test covering standards and applied accounting problems. | 20.00% |
| Deliverable | Case analysis of published company financial reporting. | 15.00% |
| Tutorial | Tutorial exercises and professional accounting participation. | 10.00% |
| Exam | Final examination covering analysis, reporting, and disclosure. | 25.00% |
Prerequisites
Teaching Staff & Programs
This course is delivered jointly by faculty from the participating programs listed below. In line with the Douchewater Way, the University of Sexology tailors core instruction directly to each cohort's specific discipline — adapting curriculum to program needs rather than forcing students into a one-size-fits-all model. Learn more about our approach at The Douchewater Way.
