Students

ACCG8221 – CA - Financial Accounting and Reporting

2026 – Session 1, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor & Lecturer
Carmel Emanuel
carmel.emanuel@mq.edu.au
Contact via email
Level 3, 4 Eastern Road Room 340
See consultation schedule on iLearn
Unit Moderator
Rajni Mala
rajni.mala@mq.edu.au
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 Submission Penalties

If you submit your assessment late, 5% of the total possible marks will be deducted for each day (including weekends), up to 7 days. Submissions more than 7 days late will receive a mark of 0.

Example 1 (out of 100):

If you score 85/100 but submit 20 hours late, you will lose 5 marks and receive 80/100.

Example 2 (out of 30):

If you score 27/30 but submit 20 hours late, you will lose 1.5 marks and receive 25.5/30.

Extensions

Automatic short extension: Some assessments are eligible for automatic short extension. You can only apply for an automatic short extension before the due date.

Special Consideration: If you need more time due to serious issues and for any assessments that are not eligible for Short Extension, you must apply for Special Consideration. Need help? Review the Special Consideration page for further details.

Assessment Tasks

Name Weighting Hurdle Due Groupwork/Individual Short Extension AI Approach
CA - Written assignment 30% No 28/04/2026 Individual No Open AI
CA - Invigilated examination 40% Yes 26/05/2026 Individual No Observed
Business report 30% No 05/06/2026 Individual No Observed

CA - Written assignment

Assessment Type 1: Professional task
Indicative Time on Task 2: 25 hours
Due: 28/04/2026
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Open AI

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: 26/05/2026
Weighting: 40%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed
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

Business report

Assessment Type 1: Professional task
Indicative Time on Task 2: 20 hours
Due: 05/06/2026
Weighting: 30%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

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

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
  • Academic Success 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.

3 An automatic short extension is available for some assessments. Apply through the Service Connect Portal.

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 Seminars

Seminar Date/Time

Chapter and Topics

Assessments

1

 

 

 

 

 

 

 

 

 

 

 30th March

 

 

 

 

 

 

 

 

 

 

2 x 3hrs

 

 

 

 

 

 

 

 

 

 

31st March

6 – 9 pm

Location

25WW GA05 Tutorial Room

1st April

6 – 9pm

Location

25WW GA05 Tutorial Room

 

 

1. Fundamentals of financial statement preparation.

1.1 Connectivity in the  financial statements

1.2 Presentation and disclosure in financial statements.

1.3 Measurement in financial reporting.

1.4 Accounting policies, estimates and errors.

1.5 Provisions, contingent liabilities and contingent assets 

 

2

 

 

 

 

 

 

 

 

6th April

 

 

 

 

 

 

 

 

2 x 3hrs 

 

 

 

 

 

 

 

 

7th April

6 – 9 pm

Location

25WW GA05 Tutorial Room

8th April

6 – 9 pm

Location

25WW GA05 Tutorial Room

2. Practical application of common accounting standards.

2.1 Accounting for income taxes.

2.2 Impairment of non-financial assets.

 

 

 

 

3

 

 

 

 

 

13th April

 

 

 

 

 

 

1 x 3hrs 

 

 

 

 

 

 

14th April

6 – 9 pm

Location

25WW GA05 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.

 

4

 

 

 

 

 

 

 

 

20th April

 

 

 

 

 

 

 

 

2 x 3hrs 

 

 

 

 

 

 

 

 

21st April

6 – 9 pm

Location

25WW GA05 Tutorial Room

22nd April

6 – 9 pm

Location

25WW GA05 Tutorial Room

2. Practical application of common accounting standards.  

2.5 Accounting for revenue from contracts with customers.

 

 

 

 

Candidates prepare for CA Assessment 1.

 

 

 

 

 

 

5

 

 

 

 

 

 

 

 

27th April

 

 

 

 

 

 

 

 

2 x 3hrs

 

 

 

 

 

 

 

 

28th April

6 – 9 pm

Location

25WW GA05 Tutorial Room

29th April

6 – 9pm

Location

25WW GA05 Tutorial Room

2. Practical application of common accounting standards.  

2.6 Accounting for financial instruments.

 

 

 

 

CA Assessment 1

Due:28 April 2026

6

 

 

 

 

 

 

 

 

 

4th May

 

 

 

 

 

 

 

 

 

1 x 3hrs

 

 

 

 

 

 

 

 

 

5th May

6 – 9pm

Location

25WW GA05 Tutorial Room

 

 

 

 

 

2. Practical application of common accounting standards.  

2.6 Accounting for financial instruments.

3. Presentation of consolidated financial statements  

3.1 Business combinations. 

 

7

 

 

 

 

 

 

 

 

11th May

 

 

 

 

 

 

 

 

2 x 3hrs 

 

 

 

 

 

 

 

 

12th May

6 – 9pm

Location

25WW GA05 Tutorial Room

13th May

6 – 9pm

Location

25WW GA05 Tutorial Room

3. Presentation of consolidated financial statements.  

3.1 Business combinations.

3.2 Consolidated financial statements.

 

 

 

 

 

8

 

 

18th May

 

 

1 x 3hrs

 

 

19th May

6 – 9 pm

Location

25WW GA05 Tutorial Room

3. Presentation of consolidated financial statements.  

3.2 Consolidated financial statements.

 

9

 

 

26th May

 

 

 

 

 

 

 

 

 

CA Assessment 2 Invigilated Examination

Scheduled: 26th May 2026

10

 

 

5th June

 

 

 

 

 

 

Business Report Assessment

Due: 5th June at 11.55pm

 

 

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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.

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Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

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Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

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Student Enquiries

Got a question? Ask us via the Service Connect Portal, or contact Service Connect.

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Unit information based on version 2026.03 of the Handbook