Subject details

  • Topics
    • Regulation and the Australian Reporting Environment
    • Conceptual Framework
    • Accounting for Property, Plant, and Equipment
    • Accounting for Intangible Assets
    • Accounting for Leases
    • Accounting for Income Tax
    • Accounting for Group Structures: Introduction
    • Accounting for Group Structures: Intragroup Transactions
    • Accounting for Group Structures: Non-controlling interests
    • Integrated Reporting 1
    • Integrated Reporting 2
    • Revision
  • Study resources
    • Instructional Methods
      • Blog
      • Disscusion forum/Discussion Board
      • Web links
      • Online assignment submission
      • Podcasting/Leacture capture
      • Online assignment submission
      • Standard Media
      • Wikis

At the completion of this subject you will be able to:

  1. Explain, discuss and integrate the technical and theoretical knowledge about the regulatory environment relating to Australian corporate accounting and reporting; and apply the relevant concepts to "real life business" situations
  2. Identify, discuss, evaluate and apply the relevant accounting standards relating to definition, recognition, measurement and disclosure requirements of a reporting entity's assets, liabilities, equity, income and expenses
  3. Explain, discuss and evaluate the issues involved in accounting for investment in subsidiaries; and apply this knowledge in preparing group accounts
  4. Apply and demonstrate the appropriate technical knowledge in analysing company accounting information and problem solving, provide justification for their decisions by making references to relevant accounting standards and communicate them to relevant stakeholders
  5. Apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with company reporting and demonstrate these skills in a variety of assessment tasks on the topics covered in MPAC30.
  • Assignment 1 - Individual Research Review (10%)
  • Assignment 2 - Discussion Board Postings (10%)
  • Assignment 3 - Final Examination (50%)
  • Assignment 4 - Case Study Group Assignment (30%)

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 subject

Entry Requirements

You are recommended to have completed the following subjects(s) or have equivalent knowledge before starting this unit:

Special requirements

No special requirements

Please note: This subject was previously titled Financial Reporting and Regulation.

This subject provides an overview of the Australian financial reporting and regulatory framework for reporting entities, including an analysis of the relevant significant accounting standards, with reference  to the conceptual framework for financial reporting, legal and stock exchange requirements for financial reporting and presentation by all Australian business entities.

This unit aims to develop capabilities to work as an independent individual and/ or effectively in a group to produce professional quality research reports; effective individual technical skills to construct consolidated financial statements, problem solving and provide justification for the their decisions by making references to relevant accounting standards and communicate them to relevant stakeholders.

Financial Reporting and Regulation is a compulsory core subject in the Masters of Professional Accounting degree and is required for membership of CPA Australia and the ICAA for all business students seeking this form of professional recognition.

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