Availabilities:

Location Domestic International
Gold Coast Session 1,  2 Session 1,  2
Melbourne N/A Session 1,  2
Online Session 1,  2 Session 1,  2
Perth N/A Session 1,  2
Sydney Session 1,  2 Session 1,  2

Unit Summary

Unit type

PG Coursework Unit

Credit points

12

AQF level

9

Level of learning

Intermediate

Former School/College

Former School of Business and Tourism

Pre-requisites

ACC00712 - Business Accounting

Anti-requisites

ACC00701 Accounting for Group Entities ACC00703 Business Financial Accounting

Unit aim

Introduces the regulatory setting and the framework of financial reporting of companies listed on the Australian Stock Exchange, as well as specific techniques required to account for and report on transactions of corporate entities. In addition, the application of selected accounting standards in the financial reports will be reviewed and evaluated.

Unit content

Topic 1: The financial reporting environment
Topic 2: Accounting for non-current assets
Topic 3: Accounting for acquisition of assets and intangible assets
Topic 4: Accounting for liabilities and equity
Topic 5: Accounting for income taxes
Topic 6: Financial reporting disclosure
Topic 7: Foreign currency translation
Topic 8: Consolidation

Learning outcomes

Unit Learning Outcomes express learning achievement in terms of what a student should know, understand and be able to do on completion of a unit. These outcomes are aligned with the graduate attributes. The unit learning outcomes and graduate attributes are also the basis of evaluating prior learning.

GA1: , GA2: , GA3: , GA4: , GA5: , GA6: , GA7:
On completion of this unit, students should be able to: GA1 GA2 GA3 GA4 GA5 GA6 GA7
1 explain the regulatory setting and the framework for external financial reporting
2 interpret and evaluate regulatory requirements governing financial reporting of Australian corporations
3 apply specific accounting standards, including those relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation in structured or unstructured settings
4 prepare General-Purpose Financial Reports for a publicly listed company and evaluate these reports.

On completion of this unit, students should be able to:

  1. explain the regulatory setting and the framework for external financial reporting
    • GA4:
  2. interpret and evaluate regulatory requirements governing financial reporting of Australian corporations
    • GA1:
    • GA4:
  3. apply specific accounting standards, including those relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation in structured or unstructured settings
    • GA4:
    • GA6:
  4. prepare General-Purpose Financial Reports for a publicly listed company and evaluate these reports.
    • GA1:
    • GA4:
    • GA6:

Prescribed texts

  • CAANZ (Charted Accountants Australia and New Zealand), 2017, Financial Reporting Handbook Australia 2017, Wiley, Australia. ISBN: 978-0-7303-4304-2.
  • Deegan, C, 2016, Financial Accounting - includes Connect and LearnSmart, 8th edn, McGraw-Hill, Australia. ISBN: 9781743764039 (print), EBook ISBN: 9781743763636.

  • CAANZ (Charted Accountants Australia and New Zealand), 2019, Financial Reporting Handbook Australia , Wiley, Australia. ISBN: 9780730369813.
  • Deegan, C, 2016, Financial Accounting - includes Connect and LearnSmart, 8th edn, McGraw-Hill, Australia. ISBN: 9781743764039 (print), EBook ISBN: 9781743763636.
Prescribed texts may change in future teaching periods.