Students
ACCG8221 – CA - Financial Accounting and Reporting
2025 – Session 1, In person-scheduled-weekday, North Ryde
General Information
Download as PDF
| Unit convenor and teaching staff |
Unit convenor and teaching staff
Unit Convenor
Julia Chan
See Consultation Schedule on iLearn
Unit Moderator
Vivian Wang
|
|---|---|
| Credit points |
Credit points
10
|
| Prerequisites |
Prerequisites
Admission to MProfAccg and (ACCG6011 and ACCG6014 and ACST6003 and ECON6049)
|
| Corequisites |
Corequisites
|
| Co-badged status |
Co-badged status
|
| Unit description |
Unit description
Financial accounting is a pivotal aspect of an accountant’s work and is the main reporting mechanism for preparing financial statements for organisations across all sectors of the economy. This unit covers the underlying framework and concepts behind financial reporting and enables students to prepare financial statements with reference to the Accounting Standards and pronouncements. It provides practical opportunities to apply knowledge to a variety of realistic scenarios. |
Important Academic Dates
Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates
Learning Outcomes
On successful completion of this unit, you will be able to:
- ULO1: Apply International Financial Reporting Standards (IFRS) to account for complex business transactions and events
- ULO2: Prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or local equivalents, and applicable accounting regulation
- ULO3: Evaluate future developments that impact the financial reporting environment
- ULO4: Evaluate and respond appropriately to complex ethical issues in the context of financial reporting
General Assessment Information
Late Assessment Submission Penalty (written assessments)
Unless a Special Consideration request has been submitted and approved, a 5% penalty (of the total possible mark) will be applied each day a written assessment is not submitted, up until the 7th day (including weekends). After the 7th day, a grade of ‘0’ will be awarded even if the assessment is submitted.
Submission time for all written assessments is set at 11.55pm. A 1-hour grace period is provided to students who experience a technical concern.
For any late submissions of time-sensitive tasks, such as scheduled tests/exams, performance assessments/presentations, and/or scheduled practical assessments/labs, students need to apply for Special Consideration.
Assessment Tasks
| Name | Weighting | Hurdle | Due |
|---|---|---|---|
| Business report | 30% | No | 02/06/2025 |
| CA - Written Assignment | 30% | No | 28/04/2025 |
| CA - Invigilated Examination | 40% | Yes | 27/05/2025 |
Business report
Assessment Type 1: Report
Indicative Time on Task 2: 20 hours
Due: 02/06/2025
Weighting: 30%
Students are required to write business report recommending the appropriate accounting treatment and disclosures of transactions or event, for a specified case study. This assessment requires students to research the transactions / event, examine the outcome of the treatment, and evaluate issues regarding the preparation and presentation of financial reports to the case study.
On successful completion you will be able to:
- Apply International Financial Reporting Standards (IFRS) to account for complex business transactions and events
- Prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or local equivalents, and applicable accounting regulation
- Evaluate future developments that impact the financial reporting environment
- Evaluate and respond appropriately to complex ethical issues in the context of financial reporting
CA - Written Assignment
Assessment Type 1: Case study/analysis
Indicative Time on Task 2: 25 hours
Due: 28/04/2025
Weighting: 30%
Students are required to analyse a financial accounting scenario or set of scenarios and submit a written response addressing the financial accounting issues in the scenarios
On successful completion you will be able to:
- Apply International Financial Reporting Standards (IFRS) to account for complex business transactions and events
- Prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or local equivalents, and applicable accounting regulation
- Evaluate future developments that impact the financial reporting environment
- Evaluate and respond appropriately to complex ethical issues in the context of financial reporting
CA - Invigilated Examination
Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: 27/05/2025
Weighting: 40%
This is a hurdle assessment task (see assessment policy for more information on hurdle assessment tasks)
The final (hurdle) assessment is an examination.
The examination comprises questions where candidates are required to apply standards to account for and report on a diverse range of business transactions and events.
Students are expected to complete and pass the CA final written submission to pass the unit.
On successful completion you will be able to:
- Apply International Financial Reporting Standards (IFRS) to account for complex business transactions and events
- Prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or local equivalents, and applicable accounting regulation
1 If you need help with your assignment, please contact:
- the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
- the Writing Centre for academic skills support.
2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation
Delivery and Resources
Prescribed Reference Materials CA Program:
- Financial Accounting and Reporting – provided by CAANZ. Candidates must complete required readings to successfully complete the learning activities and assessments. All required readings are examinable.
- Module Topic Notes (in powerpoint format) - to be downloaded each week from iLearn (http://ilearn.mq.edu.au)
- Relevant accounting and ethics Standards effective as at 1 January 2024, unless otherwise indicated.
- Australia Accounting Standards are accessible on the AASB website (www.aasb.gov.au). Candidates may also use the International Standards.
- International Accounting Standards are accessible on the IFRS Foundation website at: https://www.ifrs.org/issued-standards/list-of-standards/.
- A range of online resources will also be provided on the CA ANZ LMS site. Please closely follow My Capability - Learn platform for all required and recommended readings.
Recommended Reference Materials
- Financial Reporting, 4th Edition Janice Loftus, Ken Leo, Sorin Daniliuc, Noel Boys, Belinda L uke, Hong Nee Ang, Karyn Byrnes
All scheduled classes are compulsory. Each class will meet as described in the unit schedule. In between classes, students are required to work through the relevant sections of the course as well as work on assessment tasks. Students are expected to fully study the course material and recommended readings prior to each class. You are encouraged to properly construct your own notes based on your reading, any additional comments, and supplements.
Unit Schedule
|
Week |
Week Commencing |
Number of Seminar |
Seminar Date/Time |
Chapter and Topics |
Assessments |
|
1 |
31st March |
2 x 3hrs |
31st March 6 – 9pm Location 25WW A105 Tutorial Room
4th April 6 – 9pm Location 25WW A105 Tutorial Room |
1. Fundamentals of financial statement preparation. 1.1 Navigating accounting standards. 1.2 Structure and content of financial statements. 1.3 Measurement in financial reporting. 1.4 Accounting policies, estimates and errors. 1.5 Contingent liabilities. |
|
|
2 |
7th April |
2 x 3hrs |
7th March 6 – 9pm Location 25WW A105 Tutorial Room
11th April 6 – 9pm Location 25WW A105 Tutorial Room |
2. Practical application of common accounting standards. 2.1 Accounting for income taxes. 2.2 Impairment of non-financial assets. |
|
|
3 |
14th April |
1 x 3hrs |
14th April 6 – 9pm Location 25WW A105 Tutorial Room |
2. Practical application of common accounting standards. 2.3 Accounting for leases by lessees. 2.4 Equity settled share-based payment arrangements with employees. |
Candidates prepare for CA Assessment 1 (integrating topics covered in weeks 1 – 2). |
|
4 |
21st April |
2 x 3hrs |
21st April 6 – 9pm Location 25WW A105 Tutorial Room
25th April 6 – 9pm Location 25WW A105 Tutorial Room |
2. Practical application of common accounting standards. 2.5 Accounting for revenue from contracts with customers. |
CA Assessment 1 Online Assessment Due: 23 – 28 Apr 2025 |
|
5 |
28th April |
2 x 3hrs |
28th April 6 – 9pm Location 25WW A105 Tutorial Room
2nd May 6 – 9pm Location 25WW A105 Tutorial Room |
2. Practical application of common accounting standards. 2.6 Accounting for financial assets and financial liabilities. |
|
|
6 |
5th May |
1 x 3hrs |
5th May 6 – 9pm Location 25WW A105 Tutorial Room |
2. Practical application of common accounting standards. 2.6 Accounting for financial assets and financial liabilities. 3. Presentation of consolidated financial statements 3.1 Business combinations. |
|
|
7 |
12th May |
2 x 3hrs |
12th May 6 – 9pm Location 25WW A105 Tutorial Room
16th May 6 – 9pm Location 25WW A105 Tutorial Room |
3. Presentation of consolidated financial statements. 3.1 Business combinations. 3.2 Consolidated financial statements. |
|
|
8 |
19th May |
1 x 3hrs |
19th May 6 – 9pm Location 25WW A105 Tutorial Room |
3. Presentation of consolidated financial statements. 3.2 Consolidated financial statements. |
|
|
9 |
27th May |
|
CA Assessment 2 Invigilated Examination Scheduled: 27th May 2025 |
||
|
10 |
2nd June |
|
Business Report Assessment Due: 2nd June 2025 11.55pm |
Policies and Procedures
Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:
- Academic Appeals Policy
- Academic Integrity Policy
- Academic Progression Policy
- Assessment Policy
- Fitness to Practice Procedure
- Assessment Procedure
- Complaints Resolution Procedure for Students and Members of the Public
- Special Consideration Policy
Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.
To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.
Student Code of Conduct
Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct
Results
Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit connect.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au
Academic Integrity
At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.
Student Support
Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/
Academic Success
Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.
- Workshops
- Chat with a WriteWISE peer writing leader
- Access StudyWISE
- Upload an assignment to Studiosity
- Complete the Academic Integrity Module
The Library provides online and face to face support to help you find and use relevant information resources.
Student Services and Support
Macquarie University offers a range of Student Support Services including:
- IT Support
- Accessibility and disability support with study
- Mental health support
- Safety support to respond to bullying, harassment, sexual harassment and sexual assault
- Social support including information about finances, tenancy and legal issues
- Student Advocacy provides independent advice on MQ policies, procedures, and processes
Student Enquiries
Got a question? Ask us via the Service Connect Portal, or contact Service Connect.
IT Help
For help with University computer systems and technology, visit http://www.mq.edu.au/about_us/offices_and_units/information_technology/help/.
When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.
Unit information based on version 2025.02 of the Handbook