Overview
In this unit you will examine a selection of Australian accounting standards that address fundamental issues in financial reporting. You commence with an analysis of the role of accounting standards in the regulation of financial reporting in Australia and the concepts in the Conceptual Framework for Financial Reporting. You then interpret and apply the requirements of the selected accounting standards to solve routine accounting problems. This unit develops your professional competence in accounting as well as preparing you for future participation in an international and dynamic professional accounting environment.
Details
Pre-requisites or Co-requisites
Pre-requisite: ACCT19084 or ACCT11081
Important note: Students enrolled in a subsequent unit who failed their pre-requisite unit, should drop the subsequent unit before the census date or within 10 working days of Fail grade notification. Students who do not drop the unit in this timeframe cannot later drop the unit without academic and financial liability. See details in the Assessment Policy and Procedure (Higher Education Coursework).
Offerings For Term 3 - 2025
Attendance Requirements
All on-campus students are expected to attend scheduled classes - in some units, these classes are identified as a mandatory (pass/fail) component and attendance is compulsory. International students, on a student visa, must maintain a full time study load and meet both attendance and academic progress requirements in each study period (satisfactory attendance for International students is defined as maintaining at least an 80% attendance record).
Recommended Student Time Commitment
Each 6-credit Undergraduate unit at CQUniversity requires an overall time commitment of an average of 12.5 hours of study per week, making a total of 150 hours for the unit.
Class Timetable
Assessment Overview
Assessment Grading
This is a graded unit: your overall grade will be calculated from the marks or grades for each assessment task, based on the relative weightings shown in the table above. You must obtain an overall mark for the unit of at least 50%, or an overall grade of 'pass' in order to pass the unit. If any 'pass/fail' tasks are shown in the table above they must also be completed successfully ('pass' grade). You must also meet any minimum mark requirements specified for a particular assessment task, as detailed in the 'assessment task' section (note that in some instances, the minimum mark for a task may be greater than 50%). Consult the University's Grades and Results Policy for more details of interim results and final grades.
All University policies are available on the CQUniversity Policy site.
You may wish to view these policies:
- Grades and Results Policy
- Assessment Policy and Procedure (Higher Education Coursework)
- Review of Grade Procedure
- Student Academic Integrity Policy and Procedure
- Monitoring Academic Progress (MAP) Policy and Procedure - Domestic Students
- Monitoring Academic Progress (MAP) Policy and Procedure - International Students
- Student Refund and Credit Balance Policy and Procedure
- Student Feedback - Compliments and Complaints Policy and Procedure
- Information and Communications Technology Acceptable Use Policy and Procedure
This list is not an exhaustive list of all University policies. The full list of University policies are available on the CQUniversity Policy site.
Feedback, Recommendations and Responses
Every unit is reviewed for enhancement each year. At the most recent review, the following staff and student feedback items were identified and recommendations were made.
Feedback from SUTE comment
Use more examples or elaboration and link content to real-world applications. Be mindful of student diversity.
Noted and included more examples from real life and will remain mindful about student diversity.
- Explain the regulatory environment for financial reporting in Australia
- Apply and interpret the AASB’s Conceptual Framework for Financial Reporting
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
- Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.
Alignment of Assessment Tasks to Learning Outcomes
| Assessment Tasks | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Online Quiz(zes) - 10% | ||||
| 2 - Written Assessment - 40% | ||||
| 3 - Online Test - 50% | ||||
Alignment of Graduate Attributes to Learning Outcomes
| Graduate Attributes | Learning Outcomes | |||
|---|---|---|---|---|
| 1 | 2 | 3 | 4 | |
| 1 - Communication | ||||
| 2 - Problem Solving | ||||
| 3 - Critical Thinking | ||||
| 4 - Information Literacy | ||||
| 5 - Team Work | ||||
| 6 - Information Technology Competence | ||||
| 7 - Cross Cultural Competence | ||||
| 8 - Ethical practice | ||||
| 9 - Social Innovation | ||||
| 10 - Aboriginal and Torres Strait Islander Cultures | ||||
Textbooks
There are no required textbooks.
Additional Textbook Information
Financial Accounting
16th Edition (2017)
Authors: Scott Henderson, Graham Peirson, Kathy Herbohn, Tracy Artiach, and Bryan Howieson
Pearson
ISBN: 9781488611643
IT Resources
- CQUniversity Student Email
- Internet
- Unit Website (Moodle)
All submissions for this unit must use the referencing style: American Psychological Association 7th Edition (APA 7th edition)
For further information, see the Assessment Tasks.
s.kutubi@cqu.edu.au
s.rahman5@cqu.edu.au
Module/Topic
The regulation of financial reporting in Australia
Chapter
AASB 1053 Application of Tiers of
Australian Accounting Standards
Events and Submissions/Topic
Assessment 1 (online assessment 1) will be available online on Monday at 10 am of week 1
Module/Topic
The conceptual framework for financial reporting
Chapter
Chapters 2 and 3
AASB Conceptual Framework for
Financial Reporting
Events and Submissions/Topic
Assessment 1 (online assessment 2) will be available online on Monday at 10 am of week 2
Module/Topic
Financial statement presentation
Chapter
Chapters 6 and 14
AASB 101 Presentation of Financial Statements
Events and Submissions/Topic
Assessment 1 (online assessment 1 and 2) will be available online on Monday at 10 pm of week 3
Online Quizzes Due: Week 3 Friday (28 Nov 2025) 11:45 pm AEST
Module/Topic
Accounting policies, estimates, and errors
Chapter
Chapter 18
AASB 108 Accounting Policies, Changes in Accounting Estimates and Errors
Events and Submissions/Topic
Module/Topic
Revenue from contracts with
customers
Chapter
Chapter 15
AASB 15 Revenue from Contracts with Customers
Events and Submissions/Topic
Module/Topic
Fair value measurement
Provisions, contingent liabilities and contingent assets
Chapter
Chapter 4
AASB 13 Fair Value Measurement
IFRS 13 Fair Value Measurement
Illustrative Examples
AASB 137 Provisions, Contingent
Liabilities and Contingent Assets
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Chapter
Events and Submissions/Topic
Module/Topic
Property, plant and equipment
Chapter
Chapter 8
AASB 116 Property, Plant and
Equipment
Events and Submissions/Topic
Assessment 2
Will be available via online Written Assessment
Due: Week 7
Friday 10:00 pm AEST
Online written assessment Due: Week 7 Friday (9 Jan 2026) 10:00 pm AEST
Module/Topic
Intangible assets
Chapter
Chapter 10
AASB 138 Intangible Assets
AASB 3 Business Combinations
Events and Submissions/Topic
Module/Topic
Impairment of Assets
Chapter
Study materials are available in the unit Moodle
AASB 136 Impairment of Assets
Events and Submissions/Topic
Module/Topic
Leases
Chapter
Chapter 11
AASB 16 Leases
Events and Submissions/Topic
Module/Topic
Employee benefits
Chapter
Chapter 12
AASB 119 Employee Benefits
Events and Submissions/Topic
Module/Topic
Revision and
Final Assessment
Chapter
Events and Submissions/Topic
Final assessment will be due on
Friday, Week 12, at 10 PM AEST
Online written assessment Due: Week 12 Friday (13 Feb 2026) 11:45 pm AEST
Module/Topic
Chapter
Events and Submissions/Topic
1 Online Quiz(zes)
This assessment task consists of two open-book online tests:
1. Online Test One:
Has a weighting of 5% of the total marks for the unit.
Assesses the content taught in Week 1 (The regulation of financial reporting in Australia).
2. Online Test Two:
Has a weighting of 5% of the total marks for the unit.
Assesses the content taught in Week 2 (The conceptual framework for financial reporting).
2
Weekly
Week 3 Friday (28 Nov 2025) 11:45 pm AEST
You must complete the assessment by 11.55pm Melbourne time
Week 3 Friday (28 Nov 2025)
Assessment will be marked as soon as they will be submitted.
1. Demonstrates understanding of the regulatory environment for financial reporting in Australia.
2. Identifies and explains key components of the AASB’s Conceptual Framework for Financial Reporting.
3. Applies the Conceptual Framework to interpret and analyse financial reporting scenarios.
If you make a second attempt, then the highest mark out of the two attempts will be recorded as your final mark.
4. The online tests must be completed within the specified time frame. In the absence of an approved extension, there will be no opportunity to complete the online tests after they close.
- Explain the regulatory environment for financial reporting in Australia
- Apply and interpret the AASB’s Conceptual Framework for Financial Reporting
2 Written Assessment
This assessment task comprises weighting of 40% of the total marks for the unit. It will be based on the unit contents completed from week 1 to week 6. The assessment will be due by 10:00 PM AEST on Friday of Week 7. The duration of the online written assessment is 3 hours, which includes perusal time.
Full details of this assessment task will be available in Moodle at the commencement of the term. The information in
Moodle will include the specific questions and the details of the assessment.
Week 7 Friday (9 Jan 2026) 10:00 pm AEST
Assessment due time is at 10:00 pm AEST
You will receive your online assignment back three weeks from the submission date.
The assessment criteria (which will be available in Moodle) include the following:
1. Demonstrates understanding and accurate interpretation of the AASB’s Conceptual Framework for Financial Reporting.
2. Explains and analyses the technical requirements and conceptual aspects of selected accounting standards relevant to financial reporting.
3. Applies appropriate accounting standards, conceptual knowledge, and professional judgement to solve routine accounting problems.
4. Presents clear, well-structured, and logically reasoned written responses supported by accurate calculations, examples, and references to accounting standards.
- Apply and interpret the AASB’s Conceptual Framework for Financial Reporting
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
- Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.
3 Online Test
This assessment task comprises an online test within Moodle. It has a weighting of 50% of the total marks for the unit. It will be based on the unit contents completed from week 7 to week 11.
The online test will be scheduled in week 12.
The duration of the online written assessment is 3 hours, which includes perusal time.
Week 12 Friday (13 Feb 2026) 11:45 pm AEST
The online test will be scheduled during the university final assessment period and you will be advised during the term of the scheduled date and time.
Final assessment grade will be released after the final grade release date.
1. Accurately interprets and explains the technical requirements and conceptual principles of selected accounting standards relevant to fundamental financial reporting issues.
2. Applies appropriate accounting standards, conceptual knowledge, and professional judgement to analyse and solve routine financial reporting problems.
3. Presents clear, logically structured, and well-supported written responses demonstrating accuracy in application and interpretation of accounting standards.
- Interpret the technical requirements and conceptual aspects of selected accounting standards that address fundamental issues in financial reporting
- Apply the requirements of relevant accounting standards, conceptual accounting knowledge and professional judgement, to solve routine accounting problems.
As a CQUniversity student you are expected to act honestly in all aspects of your academic work.
Any assessable work undertaken or submitted for review or assessment must be your own work. Assessable work is any type of work you do to meet the assessment requirements in the unit, including draft work submitted for review and feedback and final work to be assessed.
When you use the ideas, words or data of others in your assessment, you must thoroughly and clearly acknowledge the source of this information by using the correct referencing style for your unit. Using others’ work without proper acknowledgement may be considered a form of intellectual dishonesty.
Participating honestly, respectfully, responsibly, and fairly in your university study ensures the CQUniversity qualification you earn will be valued as a true indication of your individual academic achievement and will continue to receive the respect and recognition it deserves.
As a student, you are responsible for reading and following CQUniversity’s policies, including the Student Academic Integrity Policy and Procedure. This policy sets out CQUniversity’s expectations of you to act with integrity, examples of academic integrity breaches to avoid, the processes used to address alleged breaches of academic integrity, and potential penalties.
What is a breach of academic integrity?
A breach of academic integrity includes but is not limited to plagiarism, self-plagiarism, collusion, cheating, contract cheating, and academic misconduct. The Student Academic Integrity Policy and Procedure defines what these terms mean and gives examples.
Why is academic integrity important?
A breach of academic integrity may result in one or more penalties, including suspension or even expulsion from the University. It can also have negative implications for student visas and future enrolment at CQUniversity or elsewhere. Students who engage in contract cheating also risk being blackmailed by contract cheating services.
Where can I get assistance?
For academic advice and guidance, the Academic Learning Centre (ALC) can support you in becoming confident in completing assessments with integrity and of high standard.
What can you do to act with integrity?
