Unit Outline

This unit builds on the skills and knowledge from BFA507 Accounting and Accountability for Decision Making. It examines financial accounting theory and practice, addressing complex corporate issues. In this unit, you will critically evaluate professional and ethical decision-making, integrating sustainability standards. You will apply International Financial Reporting Standards (IFRS) to record and report transactions for various entities, including companies and groups, and analyse detailed financial reports of listed entities. This comprehensive approach equips you with the skills to perform effectively as a financial accountant, emphasising sustainability and ethical practices in a team-based environment.

Intended Learning Outcomes

As per the Assessment and Results Policy 1.3, your results will reflect your achievement against specified learning outcomes.

On completion of this unit, you will be able to:


1.	Integrate contemporary technical and theoretical accounting knowledge in the preparation and analysis of business reports.
2.	Recommend and communicate solutions to diverse audiences using accounting principles and International Financial Reporting Standards in contemporary business contexts.
3.	Critically evaluate peer contributions and synthesise feedback to enhance collective work, fostering meaningful improvements and integrating diverse ideas collaboratively.

Requisites


REQUISITE TYPE	REQUISITES
Pre-requisite	BFA507

Alterations as a result of student feedback

How will I be Assessed?

For more detailed assessment information please see MyLO.

Assessment schedule


ASSESSMENT TASK #	ASSESSMENT TASK NAME	DATE DUE	WEIGHT	LINKS TO INTENDED LEARNING OUTCOMES
Assessment Task 1:	Portfolio	Week 2	15 %	LO1, LO2, LO3
Assessment Task 2:	Mid-semester test	Week 9	20 %	LO1, LO2
Assessment Task 3:	Case Study	Week 12	25 %	LO1, LO2, LO3
Assessment Task 4:	Exam	Exam Period	40 %	LO1, LO2

Assessment details

Assessment Task 1: Portfolio

Task Description:

This assessment task has multiple parts. Throughout the semester, you will engage in a series of weekly authentic assessment tasks designed to promote scaffolded learning and develop essential skills in contemporary accounting practice. Each week, from weeks 2 to 12, you will complete an individual written assessable task and submit it during the weekly workshop. A group response activity will follow the individual task allowing you to critically evaluate peer contributions and synthesise feedback to enhance a collective response. These tasks will be completed during the workshop and relate to the previous week’s learning materials on MyLO (an asynchronous option will be available for online students).
You will be expected to complete each task individually prior to attending the workshop, ensuring academic integrity and demonstrating your understanding and application of the concepts learned. Your best 8 results will be combined to achieve your overall final result for AT1. An information sheet outlining the structure and format of each task in the weekly Portfolio will be provided on MyLO.

Task Length:

Multiple submissions ongoing from week 2 to week 12

Due Date:

Week 2

Weight:

15 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply accounting research and theory in business reporting.	LO1
2	Apply principles, standards and SDGs to real world scenarios.	LO1
3	Formulate and ask insightful questions and propose revised solutions to peers.	LO2
4	Evaluate peer and self-contributions and documentation.	LO3
5	Reflect on and critically respond to peer feedback.	LO3

Assessment Task 2: Mid-semester test

Task Description:

This test will cover topics 1 to 8 inclusive and include multiple-choice questions, short-written practical and theoretical questions. It will enable students to individually demonstrate the breadth and depth of their knowledge across all unit content to date. You will be required to apply accounting standards and perform calculations and therefore you should bring a non-programmable calculator with you to the test. Further information about the test will be provided on MyLO.

Task Length:

90 minutes

Due Date:

Week 9

Weight:

20 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Integrate theoretical and technical knowledge in accounting.	LO1
2	Apply principles, standards, and SDGs to given scenarios.	LO1
3	Apply accounting theory in business reporting.	LO1
4	Generate solutions demonstrating critical judgement of problems in context.	LO2

Assessment Task 3: Case Study

Task Description:

This assessment task will require you to develop a comprehensive case study analysis to recommend solutions through the justification of different applications of the principles, accounting framework, and standards relevant to the problem statements provided, specifically in relation to a group of companies. You will need to prepare consolidated financial statements and notes to the financial statements for this group of companies and present your solutions as a report. A detailed case study brief will be provided, which will specify the requirements for the assignment.

Task Length:

2,500 words

Due Date:

Week 12

Weight:

25 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Apply principles, standards, and SDGs to given scenarios.	LO1
2	Integrate theoretical and technical accounting knowledge in accounting.	LO1
3	Generate solutions demonstrating critical judgement of problems in context.	LO2
4	Prepare financial statements in accordance with contemporary accounting standards and practices.	LO2
5	Communicate professionally, justifying arguments and solutions with reference to accounting standards, relevant literature, peers, and any other sources used.	LO3

Assessment Task 4: Exam

Task Description:

The final assessment is a closed book, invigilated exam on-campus. Only non-programmable calculators and writing materials are allowed in the exam room (no notes or other materials are allowed). Alternative arrangements will be made for Distance students who do not reside within the boundary limits of a campus. All topics covered in the unit are examinable.

Task Length:

3 hours

Due Date:

Exam Period

Weight:

40 %

CRITERION #

CRITERION

MEASURES INTENDED

LEARNING OUTCOME(S)


1	Integrate theoretical and technical knowledge in accounting.	LO1
2	Apply principles, standards, and SDGs to real-world scenarios.	LO1
3	Apply accounting theory in business reporting.	LO1
4	Generate solutions demonstrating critical judgement of problems in context.	LO2
5	Analyse and synthesise relevant information to provide well-justified recommendations.	LO2

How your final result is determined

To pass this unit, you need to demonstrate your attainment of each of the Intended Learning Outcomes, achieve a final unit grade of 50% or greater, and pass any hurdle tasks.

Submission of assignments

Where practicable, assignments should be submitted to an assignment submission folder in MYLO. You must submit assignments by the due date or receive a penalty (unless an extension of time has been approved by the Unit Coordinator). Students submitting any assignment in hard copy, or because of a practicum finalisation, must attach a student cover sheet and signed declaration for the submission to be accepted for marking.

Academic integrity

Academic integrity is about acting responsibly, honestly, ethically, and collegially when using, producing, and communicating information with other students and staff members.

In written work, you must correctly reference the work of others to maintain academic integrity. To find out the referencing style for this unit, see the assessment information in the MyLO site, or contact your teaching staff. For more detail about Academic Integrity, see Important Guidelines & Support.

Requests for extensions

If you are unable to submit an assessment task by the due date, you should apply for an extension.

A request for an extension should first be discussed with your Unit Coordinator or teaching support team where possible. A request for an extension must be submitted by the assessment due date, except where you can provide evidence it was not possible to do so. Typically, an application for an extension will be supported by documentary evidence: however, where it is not possible for you to provide evidence please contact your Unit Coordinator.

The Unit Coordinator must notify you of the outcome of an extension request within 3 working days of receiving the request.

Late penalties

Assignments submitted after the deadline will receive a late penalty of 5% of the original available mark for each calendar day (or part day) that the assignment is late. Late submissions will not be accepted more than 10 calendar days after the due date, or after assignments have been returned to other students on a scheduled date, whichever occurs first. Further information on Late Penalties can be found on the Assessments and Results Procedure.

Review of results and appeals

You are entitled to ask for a review of the marking and grading of your assessment task if there is an irregularity in the marking standards or an error in the process for determining the outcome of an assessment. Details on how to request a review of a mark for an assignment are outlined in the Review and Appeal of Academic Decisions Procedure.

Required Resources

Required reading materials

Loftus, J., Leo, K., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N, and Byrnes, K. 2026, Financial Reporting, 5th edition, John Wiley & Sons, Milton, Qld.

PLUS you need access to the latest Accounting Standards.

PLEASE NOTE: An electronic copy of ALL accounting standards is available online FREE from http://www.aasb.gov.au/.

Textbook Options:

Option 1 – eBook Subscriptions: Semester plan or Monthly plan

Students can purchase a subscription to the full interactive eBook from Wiley Business Now at: https://www.wileydirect.com.au/blog/buy/financial-reporting/

BONUS: Subscriptions to Wiley Business Now also include access to multiple prescribed resources, inclusive of extra learning tools like practice quizzes and media.

Option 2 – Buy-To-Own

A printed hardcopy of the prescribed text and/or lifetime access to the interactive e-text is available from Wiley Direct: https://www.wileydirect.com.au/blog/buy/financial-reporting/

Option 3 – Shared Library Access

An electronic copy of the required text is available on the Library website. Please note that the shared library e-book is not interactive, and you will not have access to the additional resources noted in Option 1. You can access the latest copy from the Reading List on the unit’s homepage in MyLO, or by going to the Reading Lists page on the University Library website.