Overview

This unit develops your ability as an accounting graduate to deepen your financial reporting and business skills that are applicable in an international professional environment. The course is based on International Financial Reporting Standards (IFRSs). You will be able to provide relevant business advice to a range of stakeholders. This course integrates the materials from the CPA Program Professional Level segment titled Financial Disclosure and prepares you for the CPA examination.

Requisites

Prerequisites
ACC60008 Accounting Systems and Reporting
ECO80001 Economics
FIN60003 Business Modelling and Analysis
LAW60003 Corporations and Contract Law
ACC80008 Managerial Accounting
FIN80005 Corporate Financial Management
ACC80019 Financial Accounting and Theory
ACC80020 Accounting, Organisations and Society

Rule

Pre-requisite
Before enrolling in this unit you must be enrolled in this subject with CPA Australia as part of their CPA Program

Pre-requisite
ACC60008 Accounting Systems and Reporting
AND
ECO80001 Economics
AND
FIN60003 Business Modelling And Analysis
AND
LAW60003 Corporations and Contract Law
AND
ACC80008 Managerial Accounting
AND
FIN80005 Corporate Financial Management
AND
ACC80019 Financial Accounting and Theory
AND
ACC80020 Accounting, Organisations and Society

Teaching Periods
Location
Start and end dates
Last self-enrolment date
Census date
Last withdraw without fail date
Results released date

Learning outcomes

Students who successfully complete this unit will be able to:

  • Demonstrate coherent and advanced knowledge of the application and basis of selected IFRSs issued by the IASB
  • Apply IFRSs in the preparation of general purpose financial statements
  • Critically evaluate and explain details relating to general purpose financial statements
  • Communicate proficiently and in professional practice and act as a leader or member of a team

Teaching methods

Hawthorn

Type Hours per week Number of weeks Total (number of hours)
Face to Face Contact (Phasing out)
Class		3.00 12 weeks 36
Online
Directed Online Learning and Independent Learning		9.50 12 weeks 114
TOTAL150

Assessment

Type Task Weighting ULO's
AssessmentIndividual 30 - 40% 1,2,3 
AssignmentGroup 20 - 30% 1,2,3,4 
TestIndividual 30 - 50% 1,2,3 

Content

  • Module 1: The Conceptual Framework and its application in Financial Reporting: The Conceptual Framework for Financial Reporting; The role of accounting standards; and Measurement of elements of financial statements
  • Module 2: Presentation of Financial Statements: Accounting policies ; Events after the reporting period; and IAS 1 - disclosures and classification
  • Module 3: Revenue received from customers: Provisions, contingent liabilities and contingent assets: Provisions; Specific applications; and Contingent liabilities and contingent assets
  • Modue 4: Income Taxes: Income tax fundamentals; Recognition of deferred tax assets and deferred tax liabilities; Assets carried at fair value or revalued amounts; and Financial statement presentation and disclosure
  • Module 5: Business Combinations and Group Accounting: Business Combinations; Consolidated financial statements; and Investments in associates
  • Module 6: Financial Instruments: Recognition and derecognition of financial assets and financial liabilities; Classification of financial assets and financial liabilities; Measurement; and Hedging accounting
  • Modue 7: Impairment of Assets: Impairment of individual assets; Impairment of CGUs; and IAS 36 – Disclosure 

Study resources

Reading materials

A list of reading materials and/or required textbooks will be available in the Unit Outline on Canvas.