Advanced Financial Accounting

    Unit code: BAO3309 | Study level: Undergraduate
    (Generally, 1 credit = 10 hours of classes and independent study.)
    City Campus
    Footscray Park
    VU Sydney
    BAO3002 - Corporate Accounting and Sustainability Reporting
    (Or equivalent to be determined by unit coordinator)


    Analyse how various accounting theories can either explain or prescribe corporate reporting practices.

    The financial information disclosed by firms can be due to various factors and therefore analysed by many theories.

    This unit will explore why business organisations disclose specific information externally and develop associated reporting practices.

    You will examine:

    • Measurement issues, specifically accounting for agriculture, financial instruments and the extractive industries
    • The conceptual framework
    • The extent of global convergence with the International Financial Reporting Standards
    • Corporate sustainability reporting practices
    • The reaction of capital markets to financial accounting information
    • The regulation of financial accounting
    • Positive accounting theory

    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. Assess 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 to improve skills in exercising professional judgement in accounting practice; and,
    5. Evaluate and debate contemporary issues relevant to the internationalisation of accounting standards.


    For Melbourne campuses

    Assessment type: Test
    Grade: 50%
    MCQ and Application Test x2 (test 1: 15%, test 2: 35%)
    Assessment type: Case Study
    Grade: 20%
    Individual Case studies on the application of accounting standards and exercising professional judgement
    Assessment type: Project
    Grade: 30%
    Research project: 20% / Presentation:10% (Group)

    Other locations

    For students studying at Henan University, Liaoning University
    Assessment type: Test
    Grade: 10%
    Mid semester test
    Assessment type: Project
    Grade: 40%
    Research project assignment (Group)
    Assessment type: Examination
    Grade: 50%
    Final exam

    Required reading

    Financial accounting
    Deegan, C. (2019).| McGraw-Hill Education.

    As part of a course

    This unit is studied as part of the following course(s):

    Search for units, majors & minors