This is the third specialist accounting unit in the Bachelor of Business (Accounting), and (Banking and Finance) and a core unit in the Bachelor of Commerce (Applied Finance major). The unit explores how and why corporations report to the many and varied users of accounting information. For this information to be useful for economic decisions, it is argued that the information disclosed by corporations should possess certain qualitative characteristics. The students will investigate these characteristics through the general structure underlying corporate reporting as well as more specific examples of corporate accounting practices. A major focus is on applying accounting standards for the preparation of financial statements and corporate reports.

Unit details

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Credit points:
Unit code:


BAO2202 - Financial Accounting

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Record transactions for companies in order to produce external financial reports required under regulatory and conceptual frameworks;  
  2. Deliberate on the implications of the information contained in the financial reports and communicate these to the relevant parties;  
  3. Demonstrate initiative, professional judgement and the technical skills required to record and report transactions suitable for specified purposes and audiences;  
  4. Critically evaluate the accounting concepts and theories underlying corporate reporting in their relevance to addressing complex and emerging problems in corporate accounting; and  
  5. Exhibit individual responsibility and accountability for contributions to group outcomes.  


Assessment type Description Grade
Test Multiple choice, short theory and practical questions 20%
Assignment Case Studies 20%
Examination Multiple choice, short theory and practical questions 60%

Required reading

Australian Financial Accounting 7th edition
Deegan, C. (2012)
McGraw-Hill, Sydney

Accounting Handbook
CPA Australia/ICAA (2014)
Pearson/Prentice Hall of Australia

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