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Unit outline_

ACCT2011: Reporting on Business Performance

Semester 1, 2025 [Normal day] - Camperdown/Darlington, Sydney

This unit of study examines the application of key accounting standards to financial statements, focusing on publicly listed entities. Beginning with an overview of the financial reporting environment it develops an understanding of how managerial accounting policy choices are made. The unit covers a range of important topics such as revenue recognition, intangible assets, and an introduction to financial instruments; the underlying importance of different measurement approaches ranging from historical cost to fair value is a consistent theme throughout. The unit also explores the role of credible disclosures not directly covered by accounting standards. As a steppingstone for business performance-based roles, students undertaking this unit will develop confidence through contemporary practical case work and critical evaluation of current issues.

Unit details and rules

Academic unit Accounting
Credit points 6
Prerequisites
? 
(ACCT1001 or ACCT1005 or BUSS1030) and (ACCT1002 or ACCT1006)
Corequisites
? 
None
Prohibitions
? 
None
Assumed knowledge
? 

None

Available to study abroad and exchange students

Yes

Teaching staff

Coordinator Timothy Wang, timothy.wang@sydney.edu.au
Lecturer(s) Timothy Wang, timothy.wang@sydney.edu.au
Tai-Joo Koh, tai-joo.koh@sydney.edu.au
The census date for this unit availability is 31 March 2025
Type Description Weight Due Length
Supervised exam
? 
hurdle task
Final exam
Written exam
50% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4 LO6
Small continuous assessment AI Allowed Tutorial work
Tutorial work
5% Ongoing n/a
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
Small test Early Feedback Task AI Allowed Quiz
#earlyfeedbacktask
5% Week 03 To be advised.
Outcomes assessed: LO1 LO2 LO3 LO4 LO6
Supervised test
? 
Mid-semester exam
Written exam
20% Week 06
Due date: 05 Apr 2025 at 15:40
1 hour
Outcomes assessed: LO1 LO2 LO3 LO4 LO6
Assignment group assignment AI Allowed Group assignment
Written task
20% Week 10
Due date: 05 May 2025 at 23:59

Closing date: 14 May 2025
1,800 words
Outcomes assessed: LO1 LO2 LO3 LO4 LO5 LO6
hurdle task = hurdle task ?
group assignment = group assignment ?
AI allowed = AI allowed ?
early feedback task = early feedback task ?

Early feedback task

This unit includes an early feedback task, designed to give you feedback prior to the census date for this unit. Details are provided in the Canvas site and your result will be recorded in your Marks page. It is important that you actively engage with this task so that the University can support you to be successful in this unit.

Assessment summary

  • Small test: This is an online quiz. It is the 'Early Feedback Task' held during Week 3. Students are advised to refer to Canvas for further information. 
  • Tutorial work: Students are advised to refer to Canvas for further information. 
  • Group assignment: Students are advised to refer to Canvas for further information. 
  • Mid-semester exam: Students are advised to refer to Canvas for further information. 
  • Final exam: Students are advised to refer to Canvas for further information. An assessment that is listed as HURDLE TASK means you must undertake the assessment and achieve a mark above a minimum standard. Students who fail to achieve this minimum standard in this assessment, even when their aggregate mark for the entire unit is above 50%, will be given a Fail grade for the unit. As a result the student's academic transcript will show a fail grade and the actual mark achieved if between 0-49 and a fail grade and a capped moderated mark of 49 for all other marks. The hurdle mark for this assessment is 45%.

​Each assessment has different parts that cover several aspects of the unit and several ULOs. 

Assessment criteria

The University awards common result grades, set out in the Coursework Policy (Schedule 1).

As a general guide, a high distinction indicates work of an exceptional standard, a distinction a very high standard, a credit a good standard, and a pass an acceptable standard.

Result name

Mark range

Description

High distinction

85 - 100

Awarded when you demonstrate the learning outcomes for the unit at an exceptional standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Distinction

75 - 84

Awarded when you demonstrate the learning outcomes for the unit at a very high standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Credit

65 - 74

Awarded when you demonstrate the learning outcomes for the unit at a good standard, as defined by grade descriptors or exemplars outlined by your faculty or school.

Pass

50 - 64

Awarded when you demonstrate the learning outcomes for the unit at an acceptable standard, as defined by grade descriptors or exemplars outlined by your faculty or school. 

Fail

0 - 49

When you don’t meet the learning outcomes of the unit to a satisfactory standard.

For more information see guide to grades.

Use of generative artificial intelligence (AI) and automated writing tools

Except for supervised exams or in-semester tests, you may use generative AI and automated writing tools in assessments unless expressly prohibited by your unit coordinator. 

For exams and in-semester tests, the use of AI and automated writing tools is not allowed unless expressly permitted in the assessment instructions. 

The icons in the assessment table above indicate whether AI is allowed – whether full AI, or only some AI (the latter is referred to as “AI restricted”). If no icon is shown, AI use is not permitted at all for the task. Refer to Canvas for full instructions on assessment tasks for this unit. 

Your final submission must be your own, original work. You must acknowledge any use of automated writing tools or generative AI, and any material generated that you include in your final submission must be properly referenced. You may be required to submit generative AI inputs and outputs that you used during your assessment process, or drafts of your original work. Inappropriate use of generative AI is considered a breach of the Academic Integrity Policy and penalties may apply. 

The Current Students website provides information on artificial intelligence in assessments. For help on how to correctly acknowledge the use of AI, please refer to the  AI in Education Canvas site

Late submission

In accordance with University policy, these penalties apply when written work is submitted after 11:59pm on the due date:

  • Deduction of 5% of the maximum mark for each calendar day after the due date.
  • After ten calendar days late, a mark of zero will be awarded.

Academic integrity

The Current Student website provides information on academic integrity and the resources available to all students. The University expects students and staff to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

We use similarity detection software to detect potential instances of plagiarism or other forms of academic integrity breach. If such matches indicate evidence of plagiarism or other forms of academic integrity breaches, your teacher is required to report your work for further investigation.

Simple extensions

If you encounter a problem submitting your work on time, you may be able to apply for an extension of five calendar days through a simple extension.  The application process will be different depending on the type of assessment and extensions cannot be granted for some assessment types like exams.

Special consideration

If exceptional circumstances mean you can’t complete an assessment, you need consideration for a longer period of time, or if you have essential commitments which impact your performance in an assessment, you may be eligible for special consideration or special arrangements.

Special consideration applications will not be affected by a simple extension application.

Using AI responsibly

Co-created with students, AI in Education includes lots of helpful examples of how students use generative AI tools to support their learning. It explains how generative AI works, the different tools available and how to use them responsibly and productively.

Support for students

The Support for Students Policy 2023 reflects the University’s commitment to supporting students in their academic journey and making the University safe for students. It is important that you read and understand this policy so that you are familiar with the range of support services available to you and understand how to engage with them.

The University uses email as its primary source of communication with students who need support under the Support for Students Policy 2023. Make sure you check your University email regularly and respond to any communications received from the University.

Learning resources and detailed information about weekly assessment and learning activities can be accessed via Canvas. It is essential that you visit your unit of study Canvas site to ensure you are up to date with all of your tasks.

If you are having difficulties completing your studies, or are feeling unsure about your progress, we are here to help. You can access the support services offered by the University at any time:

Support and Services (including health and wellbeing services, financial support and learning support)
Course planning and administration
Meet with an Academic Adviser

WK Topic Learning activity Learning outcomes
Week 01 Introduction and conceptual framework for financial reporting Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 02 Measurement and choice of accounting methods Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 03 Accounting for assets - property, plant, and equipment Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 04 Accounting for assets - intangible assets Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 05 Accounting for leases Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 06 Provisions; ethics Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 07 Revenue Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 08 Accounting for income tax Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 09 Accounting for financial instruments Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 10 Equity Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 11 Accounting for the extractive industries Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 12 Presentation of financial statements Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6
Week 13 Review Lecture and tutorial (3 hr) LO1 LO2 LO3 LO4 LO5 LO6

Study commitment

Typically, there is a minimum expectation of 1.5-2 hours of student effort per week per credit point for units of study offered over a full semester. For a 6 credit point unit, this equates to roughly 120-150 hours of student effort in total.

Learning outcomes are what students know, understand and are able to do on completion of a unit of study. They are aligned with the University's graduate qualities and are assessed as part of the curriculum.

At the completion of this unit, you should be able to:

  • LO1. describe and understand the conceptual framework and specific standards for preparing financial statements within a regulatory and commercial context
  • LO2. interpret and apply specific accounting standards to transactions based on varying problems and facts, which require critical thinking and judgement
  • LO3. critically discuss issues in the interpretation and application of accounting standards, as these affect the information content and decision-relevance of financial statements
  • LO4. critique Australian accounting standards in order to evaluate financial reporting issues for a reporting entity; develop solid and defensible arguments that reflect your opinion
  • LO5. work collaboratively with others to analyse the requirements of an Australian accounting standard and understand how these accounting requirements can be applied to an entity's operations
  • LO6. recognise the requirements of different users of financial statements and appreciate the social and ethical dimensions of the choices made by financial statement preparers.

Graduate qualities

The graduate qualities are the qualities and skills that all University of Sydney graduates must demonstrate on successful completion of an award course. As a future Sydney graduate, the set of qualities have been designed to equip you for the contemporary world.

GQ1 Depth of disciplinary expertise

Deep disciplinary expertise is the ability to integrate and rigorously apply knowledge, understanding and skills of a recognised discipline defined by scholarly activity, as well as familiarity with evolving practice of the discipline.

GQ2 Critical thinking and problem solving

Critical thinking and problem solving are the questioning of ideas, evidence and assumptions in order to propose and evaluate hypotheses or alternative arguments before formulating a conclusion or a solution to an identified problem.

GQ3 Oral and written communication

Effective communication, in both oral and written form, is the clear exchange of meaning in a manner that is appropriate to audience and context.

GQ4 Information and digital literacy

Information and digital literacy is the ability to locate, interpret, evaluate, manage, adapt, integrate, create and convey information using appropriate resources, tools and strategies.

GQ5 Inventiveness

Generating novel ideas and solutions.

GQ6 Cultural competence

Cultural Competence is the ability to actively, ethically, respectfully, and successfully engage across and between cultures. In the Australian context, this includes and celebrates Aboriginal and Torres Strait Islander cultures, knowledge systems, and a mature understanding of contemporary issues.

GQ7 Interdisciplinary effectiveness

Interdisciplinary effectiveness is the integration and synthesis of multiple viewpoints and practices, working effectively across disciplinary boundaries.

GQ8 Integrated professional, ethical, and personal identity

An integrated professional, ethical and personal identity is understanding the interaction between one’s personal and professional selves in an ethical context.

GQ9 Influence

Engaging others in a process, idea or vision.

Outcome map

Learning outcomes Graduate qualities
GQ1 GQ2 GQ3 GQ4 GQ5 GQ6 GQ7 GQ8 GQ9

This section outlines changes made to this unit following staff and student reviews.

Early feedback task has been introduced into this unit.

Disclaimer

The University reserves the right to amend units of study or no longer offer certain units, including where there are low enrolment numbers.

To help you understand common terms that we use at the University, we offer an online glossary.