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Hobart, Launceston, Cradle Coast


Students will expand their understanding gained in their previous core accounting units, to develop their accounting knowledge, skills and terminology in the context of more complex accounting issues. In particular, students are introduced to a number of accounting standards, their application and changes taking place within the accounting environment, particularly with regard to International Financial Reporting Standards. The consideration of the issues and techniques in this unit will enhance the skills students will need to perform effectively in the workplace as an accountant. Financial accounting is particularly concerned with the provision of information that is relevant and represented faithfully. It is a compulsory unit in the accounting major.

Summary 2021

Unit name Financial Accounting
Unit code BFA201
Credit points 12.5
Faculty/School College of Business & Economics
Tasmanian School of Business and Economics
Discipline Accounting and Accountability

Dr Claire Horner (Semester 1, Hobart and Distance) 

Dr Rakesh Pandey (ASP1, Launceston and Distance)

Level Intermediate
Available as student elective? Yes
Breadth Unit? No



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* The Final WW Date is the final date from which you can withdraw from the unit without academic penalty, however you will still incur a financial liability (see withdrawal dates explained for more information).

About Census Dates

Learning Outcomes

ILO1interpret, analyse and explain the principles and objectives of accounting standards within the International Financial Reporting Standards (IFRS) environment.
ILO2choose and apply relevant accounting standards and principles to a range of problems.
ILO3work independently and cooperatively to monitor progress and communicate arguments in the reporting of accounting information to interested parties.






Teaching Pattern

1 x 2 hour lecture, 1 x 1 hour tutorial per week. Please check the unit outline for details.


Test (25%), Group assignment (25%), Exam (50%).

TimetableView the lecture timetable | View the full unit timetable



You will need the following text [available from the Co-op Bookshop]:

  • Loftus, J, Leo, K, Daniliuc, S, Boys, N, Luke, B, Ang, HN, Byrnes, K 2018 Financial Reporting 2nd edn (with Interactive EBook Code inside**), John Wiley & Sons, Milton, Qld.

CAUTION: Look for the words ‘INTERACTIVE EBOOK CODE INSIDE’ on the bottom of the front cover of the textbook. Second-hand copies of Loftus (2018) will look similar but WILL NOT have access to the additional interactive online materials. The Library reserve copy also DOES NOT have access to the interactive materials. These are only available to individuals and not to institutional subscribers.

ALTERNATIVELY you may purchase just the E-BOOK version of Loftus et al. (2018) from the publisher, which includes the interactive content.

NOTE: This latest edition of Loftus et al. (2018) has combined interactive online activities in the textbook (i.e. the E-Text with additional online resources). This rich digital resource brings financial reporting to life with media such as videos, case studies, interactives and revision materials embedded at the point of learning.

ELECTRONIC READING DEVICE: If you choose to purchase an e-book you will need to bring a copy with you to class on your preferred electronic reading device. The e-book will be available for you to download onto 4 different devices (eg. smart phone, ipad, tablet, laptop, etc.) and any tags or highlights you use on one device will be automatically updated on the others.

Even if you purchase the print version of the textbook, it will be useful to also bring an electronic device (with internet capabilities) to class, as there will be many times when we will search for information and/or download relevant annual reports to aid our class discussions. You will need internet access to source the Accounting Standards from AASB.

The University reserves the right to amend or remove courses and unit availabilities, as appropriate.