Contemporary Financial Accounting and Reporting unit (BFA605)

Hobart, Online

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 Bernadette Smith
Delivered By	University of Tasmania and Third Party(ies): ECA
Level	Postgraduate

Availability

Location	Study period	Attendance options		Available to
Hobart	Semester 1
Hobart	Semester 2
Online	Semester 1
Online	Semester 2

Note

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Key Dates

Study Period	Start date	Census date	WW date	End date
Semester 1	23/2/2025	24/3/2025	13/4/2025	31/5/2025
Semester 2	20/7/2025	18/8/2025	7/9/2025	25/10/2025

* 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 (refer to How do I withdraw from a unit? for more information).

Unit census dates currently displaying for 2025 are indicative and subject to change. Finalised census dates for 2025 will be available from the 1st October 2024. Note census date cutoff is 11.59pm AEST (AEDT during October to March).

About Census Dates

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

Field of Education	Commencing Student Contribution 1,3	Grandfathered Student Contribution 1,3	Approved Pathway Course Student Contribution 2,3	Domestic Full Fee 4
080101	$2,124.00	$1,663.00	not applicable	$3,128.00

• Available as a Commonwealth Supported Place
• HECS-HELP is available on this unit, depending on your eligibility³
• FEE-HELP is available on this unit, depending on your eligibility⁴

¹ Please refer to more information on student contribution amounts.
² Please refer to more information on eligibility and Approved Pathway courses.
³ Please refer to more information on eligibility for HECS-HELP.
⁴ Please refer to more information on eligibility for FEE-HELP.

If you have any questions in relation to the fees, please contact UniConnect or more information is available on StudyAssist.

Please note: international students should refer to What is an indicative Fee? to get an indicative course cost.

Requisites

Prerequisites

BFA507

Teaching

Assessment	Peer Review (15%)|Group Poster Presentation (20%)|Mid-semester test (25%)|Case Study (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. 2023, Financial Reporting, 4th 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: $19.95 AUD (Semester plan) or $6.95 (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. 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.