This is a final year specialist accounting unit in the Bachelor of Business (Accounting). It aligns with the core knowledge area of accounting theory for accounting professional accreditation bodies CPA Australia and Institute of Charted Accounting Australia (ICAA). This subject is concerned with developing students appreciation of the roles that theory and practice have played in the development of financial reporting. Accounting students are faced with the challenge of developing technical skills as well as developing their independent learning skills as required by the business community and by the professional bodies. As future accounting professionals, an appreciation of accounting theories allows students to think more critically about the building blocks of financial reporting and how they are used in practice. The subject examines various theories that investigate and critique the roles of financial accounting in decision-making and theoretically appraise financial accounting practice and regulation. Contemporary issues, including measurement, the conceptual framework, convergence with the International Financial Reporting Standards and corporate sustainability reporting are examined in the context of various accounting theories including normative accounting theories and positive accounting theories. Students will engage with the content through a range of activities associated with contemporary cases and issues. Activities will include peer learning, discussions and online activities. Student learning will be guided and assessed through individual and group based assessment tasks.

Unit details

Study level:
Credit points:
Unit code:


BAO2203 - Corporate Accounting

Learning Outcomes

On successful completion of this unit, students will be able to:
  1. Articulate an enhanced understanding of the role of theory in the development of accounting and the financial reporting environment;  
  2. Critically reflect on and evaluate theories that explain financial and corporate social and environmental reporting;  
  3. Elucidate factors that influence financial and non-financial accounting practice with reference to a broad and coherent body of theoretical knowledge;  
  4. Critically analyse and justify accounting standards that apply to financial reporting in order to improve skills in exercising professional judgement in accounting practice; and  
  5. Evaluate and debate contemporary issues relevant to the application of accounting standards and their impact on financial reporting in local and global communities.  


Melbourne campuses

Students studying under the VU Block Model.

Assessment type Description Grade
Test Test x2 (test 1: 15%, test 2: 35%) 50%
Case Study Individual case study 20%
Project Group Project - Research: 20% /Presentation:10% 30%

Other locations

Assessment type Description Grade
Test Mid-semester Test (MCQ, Short-Answer, and Case Study) 20%
Project Research Project Assignment 30%
Examination Final Exam 50%

Required reading

Financial Accounting, 9th edition,
Deegan, C., (2019),
McGraw-Hill, Australia

Financial Accounting Theory, 4th edition,
Deegan, C., (2014),
McGraw-Hill, Australia

Recommended Text: Rankin, M., (2018), Contemporary issues in accounting, 2nd Ed, McGraw-Hill, Australia.

Where to next?

VU takes care to ensure the accuracy of this unit information, but reserves the right to change or withdraw courses offered at any time. Please check that unit information is current with the Student Contact Centre.