Outline

Overview

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, Governance and Regulation
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	Louise Howe, louise.luff@sydney.edu.au
Lecturer(s)	Timothy Wang, timothy.wang@sydney.edu.au

Assessment

The census date for this unit availability is 1 September 2025

Details
Criteria

Type	Description	Weight	Due	Length	Use of AI
Written exam ?	Final exam Written exam	50%	Formal exam period	2 hours	AI prohibited
Outcomes assessed:
Contribution	Tutorial work Tutorial work	5%	Ongoing	n/a	AI allowed
Outcomes assessed:
Out-of-class quiz	Quiz #earlyfeedbacktask	5%	Week 03	To be advised.	AI allowed
Outcomes assessed:
Written test ?	Mid-semester exam Written exam	20%	Week 07 Due date: 20 Sep 2025 at 12:10	1 hour	AI prohibited
Outcomes assessed:
Case studies	Group assignment Written task	20%	Week 10 Due date: 13 Oct 2025 at 23:59 Closing date: 22 Oct 2025	1800 words	AI allowed
Outcomes assessed:
= hurdle task ? = group assignment ? = 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 expected to attend a weekly tutorial and engage with interactive tutorial activities, class discussions, peers and tutors. Further details available on Canvas.
Group assignment: Students will work in groups of 3 to 4 students to investigate a contemporary financial reporting issue, related industry, practitioner and academic reserach perspectives and subsequently prepare comprehensive written responses. Further details will be provided on Canvas.
Mid-semester exam: Exam will contain a mixture of short written, calculation, numeric and extended response questions. Further details will be provided on Canvas later in semester.
Final exam: Exam will contain a mixture of short written, calculation, numeric and extended response questions. Further details of exam content will be provided on Canvas later in semester.
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)

You can use generative AI tools for open assessments. Restrictions on AI use apply to secure, supervised assessments used to confirm if students have met specific learning outcomes.

Refer to the assessment table above to see if AI is allowed, for assessments in this unit and check Canvas for full instructions on assessment tasks and AI use.

If you use AI, you must always acknowledge it. Misusing AI may lead to a breach of the Academic Integrity Policy.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

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 University expects students to act ethically and honestly and will treat all allegations of academic integrity breaches seriously.

Our website provides information on academic integrity and the resources available to all students. This includes advice on how to avoid common breaches of academic integrity. Ensure that you have completed the Academic Honesty Education Module (AHEM) which is mandatory for all commencing coursework students

Penalties for serious breaches can significantly impact your studies and your career after graduation. It is important that you speak with your unit coordinator if you need help with completing assessments.

Visit the Current Students website for more information on AI in assessments, including details on how to acknowledge its use.

Learning support

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 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. 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

Weekly schedule

WK	Topic	Learning activity
Week 01	Conceptual framework for financial reporting:Ethics	Lecture and tutorial (3 hr)
Week 02	Measurement and choice of accounting methods	Lecture and tutorial (3 hr)
Week 03	Accounting for assets - property, plant, and equipment	Lecture and tutorial (3 hr)
Week 04	Accounting for assets - intangible assets	Lecture and tutorial (3 hr)
Week 05	Accounting for leases	Lecture and tutorial (3 hr)
Week 06	Provisions	Lecture and tutorial (3 hr)
Week 07	Revenue	Lecture and tutorial (3 hr)
Week 08	Accounting for income tax	Lecture and tutorial (3 hr)
Week 09	Accounting for financial instruments	Lecture and tutorial (3 hr)
Week 10	Equity	Lecture and tutorial (3 hr)
Week 11	Accounting for the extractive industries	Lecture and tutorial (3 hr)
Week 12	Presentation of financial statements	Lecture and tutorial (3 hr)
Week 13	Review	Lecture and tutorial (3 hr)

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

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.

Outcomes
Graduate qualities

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
Learning outcomes

Responding to student feedback

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

Unit includes early feedback task.

Additional information

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.

Current students

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links

ACCT2011: Reporting on Business Performance

Semester 2, 2025 [Normal day] - Camperdown/Darlington, Sydney

Overview

Overview

Unit details and rules

Teaching staff

Assessment

Assessment

Early feedback task

Assessment summary

Assessment criteria

Use of generative artificial intelligence (AI)

Late submission

Academic integrity

Learning support

Learning support

Simple extensions

Special consideration

Using AI responsibly

Support for students

Weekly schedule

Weekly schedule

Study commitment

Learning outcomes

Learning outcomes

Graduate qualities

Outcome map

Responding to student feedback

Responding to student feedback

Additional information

Additional information

Disclaimer

On this page

Useful links