Introduction
This unit builds on the skills and knowledge from BFA507 Accounting and Accountability for Decision Making. It examines financial accounting theory and practice, addressing complex corporate issues. In this unit, you will critically evaluate professional and ethical decision-making, integrating sustainability standards. You will apply International Financial Reporting Standards (IFRS) to record and report transactions for various entities, including companies and groups, and analyse detailed financial reports of listed entities. This comprehensive approach equips you with the skills to perform effectively as a financial accountant, emphasising sustainability and ethical practices in a team-based environment.
Summary
| Unit name | Contemporary Financial Accounting and Reporting |
| Unit code | BFA605 |
| Credit points | 12.5 |
| College/School | Tasmanian School of Business and Economics |
| Discipline | Accounting |
| Coordinator | Doctor Amrinder Khosa |
| Delivered By | University of Tasmania and Third Party(ies): ECA |
| Level | Postgraduate |
Sustainable Development Goals
The Unit Coordinator has identified that this unit aligns with the following UN Sustainable Development Goals. We welcome your thoughts and feedback on the alignment of the unit with these goals.
Availability
Specific information on 2027 unit availability will be available in August
Learning Outcomes
- Integrate contemporary technical and theoretical accounting knowledge in the preparation and analysis of business reports.
- Recommend and communicate solutions to diverse audiences using accounting principles and International Financial Reporting Standards in contemporary business contexts.
- Critically evaluate peer contributions and synthesise feedback to enhance collective work, fostering meaningful improvements and integrating diverse ideas collaboratively.
Fee Information
2027 fee information will be available in August.
Requisites
Prerequisites
BFA507Teaching
| Assessment | Portfolio (15%)|Mid-semester test (20%)|Case Study (25%)|Exam (40%) |
|---|---|
| Timetable | View the lecture timetable | View the full unit timetable |
Textbooks
| Required |
Loftus, J., Leo, K., Daniliuc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N, and Byrnes, K. 2026, Financial Reporting, 5th edition, John Wiley & Sons, Milton, Qld. PLUS you need access to the latest Accounting Standards. PLEASE NOTE: An electronic copy of ALL accounting standards is available online FREE from http://www.aasb.gov.au/.
Textbook Options: Option 1 – eBook Subscriptions: Semester plan or Monthly plan Students can purchase a subscription to the full interactive eBook from Wiley Business Now at: https://www.wileydirect.com.au/blog/buy/financial-reporting/ BONUS: Subscriptions to Wiley Business Now also include access to multiple prescribed resources, inclusive of extra learning tools like practice quizzes and media. Option 2 – Buy-To-Own A printed hardcopy of the prescribed text and/or lifetime access to the interactive e-text is available from Wiley Direct: https://www.wileydirect.com.au/blog/buy/financial-reporting/ Option 3 – Shared Library Access An electronic copy of the required text is available on the Library website. Please note that the shared library e-book is not interactive, and you will not have access to the additional resources noted in Option 1. You can access the latest copy from the Reading List on the unit’s homepage in MyLO, or by going to the Reading Lists page on the University Library website. |
|---|---|
| Recommended | Deegan, C. 2020, Financial Accounting, 9th edition, McGraw Hill, NSW. Leo, K., Knapp, J., McGowan, S., Sweeting, J. and Meng, L. 2021, Company Accounting, 12th edition, John Wiley & Sons, Milton, Qld Rankin, M., Ferlauto, K., McGowan, S., and Stanton, P. 2023 Contemporary Issues in Accounting, 3rd Edition, John Wiley & Sons, Milton, Qld |
The University reserves the right to amend or remove courses and unit availabilities, as appropriate.