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Financial Accounting and Company Reporting

General Information

This subject examines the regulation, concepts, Australian Accounting Standards and processes relevant to financial accounting and reporting. Emphasis is on the application of accounting principles, regulation and the Australian Accounting Standards that underpin the preparation of general purpose financial statements. The subject focuses on  the preparation and analysis of these financial statement and is therefore relevant to students pursuing careers in which  a working knowledge of corporate financial statements as either a preparer or user is beneficial.

Academic unit: Bond Business School
Subject code: ACCT12-202
Subject title: Financial Accounting and Company Reporting
Subject level: Undergraduate
Semester/Year: January 2025
Credit points: 10.000

Enrolment requirements

Requisites:

Nil

Assumed knowledge:

Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for studentsโ€™ lack of prior knowledge.

Assumed Prior Learning (or equivalent):

Restrictions:

Nil

Assurance of learning

Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.

At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.

Program Learning Outcomes (PLOs)

Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.

Find your program

Subject Learning Outcomes (SLOs)

On successful completion of this subject the learner will be able to:

  1. Apply International Financial Reporting Standards (IFRSs) and/or other relevant standards to accounting transactions.
  2. Apply accounting policies in the preparation general purpose financial statements.
  3. Prepare general purpose financial statements, including consolidated financial statements and related disclosure in accordance with IFRSs or other relevant national standards.
  4. Communicate accounting information and recommendations in a clear, concise and professionally written manner to a hypothetical client.
  5. Explain current national and international developments in financial reporting.

Generative Artificial Intelligence in Assessment

The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with studentsโ€™ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.

Type Task % Timing* Outcomes assessed
Computer-aided Test (Open) Application focused. Synthesis and Analysis of Information / Scenario. 15.00% Week 3 1,2,4,5
Computer-aided Test (Open) Application focused. Synthesis and Analysis of Information / Scenario. 15.00% Week 6 1,2,4
Computer-aided Test (Open) Application focused. Synthesis and Analysis of Information / Scenario. 20.00% Week 9 1,2,4
Assignment Project Part A (Interview)โ€“ A case-based assignment requiring the preparation of general purpose financial statements and related report. Interview with lead educator regarding key concepts. 10.00% Week 10 1,2,3,4,5
Assignment Project Part B (Report) - A case-based assignment requiring the preparation of general purpose financial statements and related report. 40.00% Week 12 1,2,3,4,5
  • * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
  • C = Students must reach a level of competency to successfully complete this assessment.

Study Information

Submission procedures

Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.

Policy on late submission and extensions

A late penalty will be applied to all overdue assessment tasks unless the Lead Educator grants an extension. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.

Academic Integrity

Bond Universityโ€˜s Student Code of Conduct Policy , Student Charter, Academic Integrity Policy and our Graduate Attributes guide expectations regarding student behaviour, their rights and responsibilities. Information on these topics can be found on our Academic Integrity webpage recognising that academic integrity involves demonstrating the principles of integrity (honesty, fairness, trust, professionalism, courage, responsibility, and respect) in words and actions across all aspects of academic endeavour.

Staff are required to report suspected misconduct. This includes all types of plagiarism, cheating, collusion, fabrication or falsification of data/content or other misconduct relating to assessment such as the falsification of medical certificates for assessment extensions. The longer term personal, social and financial consequences of misconduct can be severe, so please ask for help if you are unsure.

If your work is subject to an inquiry, you will be given an opportunity to respond and appropriate support will be provided. Academic work under inquiry will not be marked until the process has concluded. Penalties for misconduct include a warning, reduced grade, a requirement to repeat the assessment, suspension or expulsion from the University.

Feedback on assessment

Feedback on assessment will be provided to students according to the requirements of the Assessment Procedure Schedule A - Assessment Communication Procedure.

Whilst in most cases feedback should be provided within two weeks of the assessment submission due date, the Procedure should be checked if the assessment is linked to others or if the subject is a non-standard (e.g., intensive) subject.

Accessibility and Inclusion Support

Support is available to students where a physical, mental or neurological condition exists that would impact the studentโ€™s capacity to complete studies, exams or assessment tasks. For effective support, special requirement needs should be arranged with the University in advance of or at the start of each semester, or, for acute conditions, as soon as practicable after the condition arises. Reasonable adjustments are not guaranteed where applications are submitted late in the semester (for example, when lodged just prior to critical assessment and examination dates).

As outlined in the Accessibility and Inclusion Policy, to qualify for support, students must meet certain criteria. Students are also required to meet with the Accessibility and Inclusion Advisor who will ensure that reasonable adjustments are afforded to qualifying students.

For more information and to apply online, visit BondAbility.

Additional subject information

This is a compulsory subject for eligibility requirements for Certified Practising Accountants Australia (CPA Australia) and Chartered Accountants Australia and New Zealand (CA ANZ). As part of the requirements for Business School quality accreditation, the Bond Business School employs an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.

Subject curriculum

Approved on: Nov 1, 2024. Edition: 1.16
Last updated: Nov 1, 2024