Availabilities:

LocationDomesticInternational
Gold Coast
MelbourneN/A
Online
Session1,1,2
PerthN/A
Sydney

Unit description

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.

On completion of this unit, students should be able to:
1explain the regulatory setting and the framework for external financial reporting
2interpret and evaluate regulatory requirements governing financial reporting of Australian corporations
3apply specific accounting standards, including those relating to assets, liabilities, equity, income taxes, foreign currency transactions, business combinations and consolidation in structured or unstructured settings
4prepare 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
  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.

Prescribed texts

  • CAANZ (Charted Accountants Australia and New Zealand), 2020, Financial Reporting Handbook Australia , John Wiley & Sons Australia, Australia.
  • Deegan, C, 2020, Financial Accounting , 9th edn, McGraw-Hill, Australia. ISBN: 9781743767672 (Pack - includes print book and Connect).

  • CAANZ (Charted Accountants Australia and New Zealand), 2020, Financial Reporting Handbook Australia , John Wiley & Sons Australia, Australia.
  • Deegan, C, 2020, Financial Accounting , 9th edn, McGraw-Hill, Australia. ISBN: 9781743767672 (Pack - includes print book and Connect).
Prescribed texts may change in future study periods.

Teaching and assessment

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Xero accounting software and report 30%
Exam: closed book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Xero accounting software and report 30%
Exam: closed book50%

Teaching method
Lecture online 1 hour (12 weeks)
Assessment
Quiz20%
Xero accounting software and report 30%
Exam: closed book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Xero accounting software and report 30%
Exam: closed book50%

Teaching method
Lecture online 1 hour (12 weeks)
Tutorial on-site 2 hours (12 weeks)
Assessment
Quiz20%
Xero accounting software and report 30%
Exam: closed book50%
Notice

Intensive offerings may or may not be scheduled in every session. Please refer to the timetable for further details.

Southern Cross University employs different teaching methods within units to provide students with the flexibility to choose the mode of learning that best suits them. SCU academics strive to use the latest approaches and, as a result, the learning modes and materials may change. The most current information regarding a unit will be provided to enrolled students at the beginning of the study session.

Fee information

Domestic

Commonwealth Supported courses
For information regarding Student Contribution Amounts please visit the Student Contribution Amounts.

Fee paying courses
For postgraduate or undergraduate full fee paying courses please check Domestic Postgraduate Fees OR Domestic Undergraduate Fees

International

Please check the international course and fee list to determine the relevant fees.

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