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Unit of study_

ACCT6010: Advanced Financial Reporting

Semester 1, 2021 [Normal day] - Camperdown/Darlington, Sydney

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.

Unit details and rules

Unit code ACCT6010
Academic unit Accounting
Credit points 6
Assumed knowledge


Available to study abroad and exchange students


Teaching staff

Coordinator Tina Huynh,
Lecturer(s) Tina Huynh,
Neal Arthur,
Type Description Weight Due Length
Final exam (Record+) Type B final exam hurdle task Final exam
Written exam
55% Formal exam period 2 hours
Outcomes assessed: LO1 LO2 LO3 LO4
Small test Quizzes
10% Multiple weeks 10 min per quiz
Outcomes assessed: LO1 LO3 LO2
Assignment group assignment Case study
Case study
20% Week 11 5 pages
Outcomes assessed: LO1 LO2 LO3 LO4
Small continuous assessment Tutorial participation
Tutorial participation
15% Weekly 90 min weekly
Outcomes assessed: LO1 LO2 LO3 LO4
hurdle task = hurdle task ?
group assignment = group assignment ?
Type B final exam = Type B final exam ?

Assessment summary

  • Tutorial participation: Students are expected to attend and actively participate in tutorial discussions and presentations. Groups will be formed within each tutorial class and work on exercises together. Groups must present their answers to the assigned questions. Completion of preparatory readings, quizzes and homework questions prior to class is expected.
  • Quizzes: This formative assessment involves regular short Canvas quizzes during class time. 
  • 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. Groups are formed within each tutorial class.
  • 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 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%.


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

For more information see guide to grades.

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.

You may only use artificial intelligence and writing assistance tools in assessment tasks if you are permitted to by your unit coordinator, and if you do use them, you must also acknowledge this in your work, either in a footnote or an acknowledgement section.

Studiosity is permitted for postgraduate units unless otherwise indicated by the unit coordinator. The use of this service must be acknowledged in your submission.

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.

WK Topic Learning activity Learning outcomes
Week 01 Introduction to the unit and overview of intercorporate investments Lecture and tutorial (3 hr)  
Week 02 Accounting for business combinations Lecture and tutorial (3 hr)  
Week 03 Principles of consolidation Lecture and tutorial (3 hr)  
Week 04 Fair value adjustments and tax effects Lecture and tutorial (3 hr)  
Week 05 Intragroup transactions Lecture and tutorial (3 hr)  
Week 06 Direct non-controlling interest Lecture and tutorial (3 hr)  
Week 07 Consolidated cash flow statements Lecture and tutorial (3 hr)  
Week 08 Segment reporting Lecture and tutorial (3 hr)  
Week 09 Accounting for associates Lecture and tutorial (3 hr)  
Week 10 Accounting for joint arrangements Lecture and tutorial (3 hr)  
Week 11 Foreign currency transactions and translation 1 Lecture and tutorial (3 hr)  
Week 12 Foreign currency transactions and translation 2 Lecture and tutorial (3 hr)  
Week 13 Revision Lecture and tutorial (3 hr)  

Attendance and class requirements

Each week the one-and-a-half-hour lecture (1hr 30min) will be recorded and made available on Canvas for student use. In addition, students are expected to attend and actively participate in their weekly one-and-a-half-hour tutorials (1hr 30min).

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 2021. Financial Reporting Handbook 2021, 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

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

In semester 1, 2021, quizzes have been introduced as a small formative assessment item to provide students with continuous feedback on their learning.

All unit related information will be made available via Canvas. In addition, the following Business School resources may be useful to students.


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.