This online Contemporary Accounting Thought unit provided by RMIT University and Open University Australia, is concerned with the 'why' rather than the 'how' of financial reporting. By exploring contexts of financial reporting from this angle, we can arrive at an analytical consideration of 'what' should be included in a modern financial report.
This unit examines a range of theories around the role of financial reporting, helping you to develop a deeper understanding of the nature and development of contemporary accounting thought. You will explore the conceptual basis for regulation of financial reports, and discuss how and why various organisations disclose financial information.
You will be exposed to a variety of academic ideas and approaches to accounting thought, including inductive and deductive thought processes. The influence of these methods will be explored and discussed in detail, using a number of modern accounting issues to illustrate key ideas.
Applicants must meet the following criteria to be eligible to enter this program:
Be accepted into the Master of Professional Accounting
It is also recommended that students have completed the following units, or have equivalent knowledge:
Financial Accounting and Business
Financial Reporting and Regulation
Areas of study
Students will have access to their subject outlines upon enrolment, and can access this information at the Learning Hub.
This unit is a core requirement in the following course:
Master of Professional Accounting, RMIT University
Content may also be relevant to other courses, and could qualify you for Recognition of Prior Learning (RPL) for a course offered by another institution.
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Want more information about this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
OUA has done away with traditional semesters to give you the flexibility you need. Find out more.
A solid foundation in contemporary accounting thought is a highly desirable skill in professional accountancy and a number of financially-driven job roles. On completion of this unit you will have developed a keen understanding of various theoretical perspectives used to develop standards in financial reporting.
You will develop an understanding of normative and positive approaches to the development of knowledge in accounting, and the differences between these approaches. You will also explore the difference between measurement and disclosure decisions in regulated and unregulated environments, and the role of financial reporting in corporations, capital markets and broader society.
In addition, you will develop an insight into the principles behind accounting standards and the authorities that develop and implement them. You will appraise a range of controversial accounting standards in terms of their theoretical and actual effect on the reporting of corporate information, with particular focus on standards before and after the adoption of IFRS. This unit forms a core part of the Master of Professional Accounting, and should leave you with the tools you need for a long and successful career in the financial field.
How else will I benefit from this unit?
Upon successful completion of this unit you will receive credit for competencies in Contemporary Accounting Thought from RMIT University.
Studying online means you can study where you want, at your own pace.
Gain industry-relevant skills and transferrable knowledge.
Government financial support through FEE-HELP may be available.
Studying single units allows you the flexibility to work towards a qualification at your own pace.
Receive Recognition of Prior Learning (RPL) for this unit across a number of OUAs full degree programs.
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Want more information about the career benefits of this unit? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
If you are an Australian citizen, you may be eligible to receive a government FEE-HELP loan, meaning you can defer payment of your fees.
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Want more information about financial and student support? Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
You may be eligible to receive FEE-HELP for this course!
This course can be paid for through the FEE-HELP government loan scheme. If you are an Australian citizen or hold a permanent humanitarian visa, this means you don’t need to pay upfront.
Instead, the Australian government will pay your course fees on your behalf. You’ll begin repaying your loan through the tax system once you start earning more than the minimum threshold of $54,869 (2016-17 income year).
For two decades, Open Universities Australia (OUA) has partnered with leading Australian educators to make tertiary-level courses easier to access for people, no matter their background, their work status or their other life commitments. OUA has built up their reputation by making education more flexible, easier to tailor and available almost entirely online.
OUA's devotion to online education remains to this day, but where they once focused on higher education, today they offer the broadest set of post-secondary education and training programs in Australia.
Open Universities Australia offers a range of administrative and student support options. As a student of OUA you will have access to four hours of free expert tutoring support for each unit undertaken through the tutoring service SMARTHINKING. This on-demand service allows you to get fast, detailed feedback on your assignment drafts and gives you access to your tutor in real time.
The My OUA portal is an online student medium that allows you access to all your course and enrolment information as well as access to student forums and assessment tips.
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Want more information about the career benefits of this course?
Fill out the enquiry form to the right and a study consultant will contact you with the details you need.
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