Financial Accounting 2 - 2017

Unit summary


  • Level of Study: Undergraduate Level 2
  • Study load: 0.125 EFTSL
  • Delivery method: Web Dependent
  • Prerequisites: Yes
  • Duration: 13 weeks
  • Government loans available: FEE-HELP, HECS-HELP
  • Availability for 2017: SP2 , SP4
  • Availability for 2018: SP2 , SP4
  • Assessment: Assignment - 2500 words equiv. (30%) , Invigilated Exam - 3 hours (50%) - Learn more

Unit provided by

2017 Fees
Domestic 1,324.00
HECS 1,324.00
International 1,575.00

Presentation of financial statements: review of financial reporting requirements for companies, overview of general purpose financial reports; relevant accounting standards relating to the statement of financial position, statement of comprehensive income and statement of changes in equity, and associated notes, including revisions and errors, retained profits and underlying accounting treatments. Other Disclosure Issues: accounting policies, materiality, and events occurring after reporting period. Liabilities: definition, measurement and classification, provisions and contingencies, disclosure and presentation. Leases: classification criteria, accounting treatment in the books of the lessee, disclosure requirements.

At the completion of this unit students will be able to:

  1. recognise and appreciate the conceptual, statutory and professional requirements that impinge upon the preparation of general purpose financial reports
  2. apply specific statutory and professional requirements in the preparation of general purpose financial reports
  3. analyse financial reporting issues by applying relevant accounting standards and research
  4. discuss relevant issues and theories underlying the development of specific accounting standards.
  • Assignment — 2500 words equiv. (30%)
  • Invigilated Exam — 3 hours (50%)
  • Quizzes — Multiple Choice Tests (20%)
For more information on invigilated exams see Exams and results

Mandatory prerequisites

You must have successfully completed the following unit(s) before starting this unit:

If you have completed equivalent study at another university, please contact a Student Advisor for advice.

It is assumed that students will have knowledge of present value calculations.

  • Other special requirement — Students will require Windows Vista, Windows 7 or higher. UniSA does not support Windows XP.

This unit addresses the following topics.

1Overview of the Reporting Environment
2Presentation of financial statements
3Other disclosure issues
6Accounting for leases
7Accounting for income tax

This unit is delivered using the following methods and materials:

Instructional Methods

  • Discussion Forum/Discussion Board
  • Online Quizzes/Tests
  • Online assignment submission
  • Podcasting/Lecture capture
  • Virtual Classroom

Online materials

  • Audio/Video - Streaming
  • Printable format materials
  • Quizzes

This unit is a core requirement in the following courses:

This unit is part of a major, minor, stream or specialisation in the following courses:

This unit may be eligible for credit towards other courses:

  1. Many undergraduate courses on offer through OUA include 'open elective' where any OUA unit can be credited to the course. You need to check the Award Requirements on the course page for the number of allowed open electives and any level limitations.
  2. In other cases, the content of this unit might be relevant to a course on offer through OUA or elsewhere. In order to receive credit for this unit in the course you will need to supply the provider institution with a copy of the Unit Profile in the approved format, which you can download here. Note that the Unit Profile is set at the start of the year, and if textbooks change this may not match the Co-Op textbook list.

Textbooks are subject to change within the academic year. Students are advised to purchase their books no earlier than one to two months before the start of a unit.

Click on the titles of the listed books below to find out more:

Required textbooks

  • Company Accounting (Text Only) 10E

    By:Leo, Ken et al

    ISBN: 9781118608173


    Supplier:Go to The Co-op Bookshop

  • Financial Reporting Handbook 2017 Australia


    ISBN: 9780730343042


    Supplier:Go to The Co-op Bookshop

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