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Unit of study_

ACCT6010: Advanced Financial Reporting

This unit provides students with a detailed understanding of more complex financial reporting issues. Topics examined include: group accounting issues such as the practical application of the control test; multiple subsidiaries; non-controlling interest; foreign currency translation; consolidated cash flow reporting; segment reporting; accounting for joint arrangements and associates; and related party disclosures. The unit builds on the knowledge base acquired from earlier accounting units with a strong emphasis on the application of technical skills. The unit has a substantial case component, using current examples to illustrate both appropriate technical solutions in accordance with accounting standards and guidelines, as well as the forces which determine the choice of methods. The unit also provides students with an awareness of relevant research to assist in an understanding of both current debates and accounting choices. This unit helps develop students' ability to read and analyse financial reports and to understand the financial reporting implications of management decisions relating to internal reporting and organisational structure.


Academic unit Accounting
Unit code ACCT6010
Unit name Advanced Financial Reporting
Session, year
Semester 2, 2020
Attendance mode Normal day
Location Camperdown/Darlington, Sydney
Credit points 6

Enrolment rules

Available to study abroad and exchange students


Teaching staff and contact details

Coordinator Neal Arthur,
Lecturer(s) Tina Huynh ,
Neal Arthur,
Type Description Weight Due Length
Final exam (Record+) Type B final exam hurdle task Final exam
Written exam
65% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4
Presentation Group Presentation
Group presentations
6% Multiple weeks Up to 20 minutes
Outcomes assessed: LO1 LO2 LO3 LO4
Assignment group assignment Case study
Case study
20% Week 10 5 pages
Outcomes assessed: LO1 LO4 LO3 LO2
Participation Tutorial participation
Individual tutorial participation
9% Weekly 1 hour
Outcomes assessed: LO1 LO4 LO3 LO2
hurdle task = hurdle task ?
group assignment = group assignment ?
Type B final exam = Type B final exam ?
  • Tutorial Participation: Students are expected to attend and actively participate in tutorial discussions and quizes. Completion of preparatory reading, quizes and homework prior to class is expected.
  • Group Presentation: Groups will be formed within each totorial class. Groups must present their answer to the assigned question and respond to questions and comments on the presentation.
  • Case study: The case study is a group assignment that involves an in-depth analysis, interpretation, and discussion of specific issues  relating to business combinations and related consolidated financial statements.
  • Final exam: The final exam may cover topics from the entire unit of study. The final exam is listed as a HURDLE TASK which means you must complete the assessment and achieve at least 45% of the available marks in order to pass the unit. Students who fail to complete this assessment, even when their aggregate mark for the entire unit of study is above 50%, will be given a Fail grade for this unit. As a result, a student's academic transcript will show a Fail grade and the actual mark achieved if the final mark of the unit is between 0-49 and a Fail grade and a capped moderated mark of 49 for all other final marks.

Detailed information for each assessment can be found on Canvas.

Assessment criteria

The University awards common result grades, set out in the Coursework Policy 2014 (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


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.


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.


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.


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.


0 - 49

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

For more information see

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.

Special consideration

If you experience short-term circumstances beyond your control, such as illness, injury or misadventure or if you have essential commitments which impact your preparation or performance in an assessment, you may be eligible for special consideration or special arrangements.

Academic integrity

The Current Student website provides information on academic honesty, academic dishonesty, 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 dishonesty or plagiarism seriously.

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

WK Topic Learning activity Learning outcomes
Week 01 Introduction to corporate group accounting issues Seminar (2 hr)  
Week 02 Principles of consolidation Seminar (2 hr)  
Week 03 Fair value adjustments and tax effects Seminar (2 hr)  
Week 04 Intragroup transactions Seminar (2 hr)  
Week 05 Direct non-controlling interest Seminar (2 hr)  
Week 06 Consolidated cash flow statements Seminar (2 hr)  
Week 07 Segment reporting Seminar (2 hr)  
Week 08 Accounting for associates Seminar (2 hr)  
Week 09 Accounting for joint arrangements Seminar (2 hr)  
Week 10 Foreign currency transactions and translation 1 Seminar (2 hr)  
Week 11 Foreign currency transactions and translation 2 Seminar (2 hr)  
Week 12 Revision Seminar (2 hr)  

Attendance and class requirements

Class recordings: The two-hour class will be recorded and will be available on Canvas for student use. Please note the Business School does not own the system and cannot guarantee that the system will operate or that every class will be recorded.


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.

Required readings

Readings for this unit can be accessed on the Library eReserve link available on Canvas.

  • Arthur, N., Luff, L., Keet, P., Egan, M., Howieson, B., and Ram, R. (2017). Accounting for Corporate Combinations and Associations, 8th edition, Australia: Pearson Education Australia. 
  • The Chartered Accountants Australia and New Zealand 2020. Financial Reporting Handbook 2020, Australia: John Wiley and Sons Australia.

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. prepare consolidated financial statements
  • LO2. evaluate alternative solutions to financial reporting problems relating to groups
  • LO3. choose between financial reporting alternatives in an informed manner
  • LO4. communicate the results from the analysis of accounting issues effectively.

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

Alignment with Competency standards

Outcomes Competency standards
Association of Chartered Certified Accountants - ACCA
3. FR Financial Reporting
CPA Australia and Chartered Accountants Australia and New Zealand - CAANZ
TCA02. Financial accounting and reporting
CPA Australia and Chartered Accountants Australia and New Zealand - CAANZ
TCA02. Financial accounting and reporting
CPA Australia and Chartered Accountants Australia and New Zealand - CAANZ
TCA02. Financial accounting and reporting
In semester 2, 2020, tutorial classes have been provided to allow for more student engagement and interaction in a smaller class.


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.