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Add value to your existing experience in business and finance, while strengthening and diversifying your skills. Using evaluative methods, you will familiarise yourself with accounting standards within reporting, and the financial environment itself. You'll also become comfortable with financial reporting for companies listed on the Australian Stock Exchange, while exploring accounting in terms of taxation, foreign currency and shareholders’ equity. On completion, your employability potential within the financial management sector will have broadened widely. In this unit, you will study:

  • The financial reporting environment
  • Accounting for non-current assets
  • Accounting for acquisition of assets and intangible assets
  • Accounting for liabilities and equity
  • Accounting for income taxes
  • Financial reporting discolusre
  • Foreign currency translation
  • Consolidation

Learning outcomes

  • Explain the regulatory setting and the framework for external financial reporting
  • Interpret and evaluate regulatory requirements governing financial reporting of Australian corporations
  • 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.
  • Prepare General-Purpose Financial Reports for a publicly listed company and evaluate these reports


You are assessed according to the following components, each with its own weighted value against your overall result:

  • Quiz: 20%
  • Report: 20%
  • Exam (closed book): 60%


You can study this unit as part of the Master of Business Administration and Graduate Diploma in Accounting.   Please note, unit structure and content are subject to change. Contact your SCU Online student advisor on 1300 589 882 for more information based on your particular circumstances.