AYN485 Accounting in the Corporate World
To view more information for this unit, select Unit Outline from the list below. Please note the teaching period for which the Unit Outline is relevant.
| Unit code: | AYN485 |
|---|---|
| Prerequisite(s): | AYN48 or AYN416 |
| Credit points: | 12 |
| Timetable | Details in HiQ, if available |
| Availabilities |
|
Unit Outline: Semester 1 2027, Gardens Point, Internal
| Unit code: | AYN485 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN481 or AYN416 |
| Equivalent: | AYN417 |
Overview
This unit focuses on the accounting practices and statutory requirements relevant to companies, which represent a significant portion of entities in professional accounting work. You will learn to interpret and apply accounting standards and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. The unit emphasises the integration of academic knowledge with collaborative problem-solving and self-reflective practice, supporting the development of both your technical accounting competency and broader professional skills required to prepare financial reports for companies.
Positioned mid-way through the Master of Professional Accounting program, this unit builds on the foundational knowledge you acquired in your previous studies of financial accounting systems and provides the technical basis to solve advanced financial accounting issues in your later studies and professional practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of legal, accounting, and financial reporting regulations relevant to companies. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Examine and evaluate the underlying accounting processes required by companies. [HO 2.1]Relates to: PG Business Capabilities 2027: HO (2.1)
- Prepare written analyses of companies' financial reports to produce evidence-based recommendations for stakeholders. [PC 3.1]Relates to: PG Business Capabilities 2027: PC (3.1)
- Work collaboratively to evaluate companies' accounting disclosures, integrating self-reflection to identify strengths and areas for professional growth. [TS 4.1, TS 4.2]
Content
In this unit, you will explore the corporate financial reporting environment in Australia, examining the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). You will critically evaluate the decision-usefulness of the information produced under the different accounting methods.
You will apply accounting methods to complex business structures, such as business combinations, segment reporting, and accounting for joint arrangements. Thus, this unit has broad appeal and will be of interest to those involved in the preparation or use of company financial statements, whether as accountants, auditors, investment bankers, financial analysts, or other financial statement users.
With the harmonisation of the Australian accounting standards with the International Financial Reporting Standards (IFRS), this unit also introduces a global perspective on corporate financial reporting, helping you to build transferable knowledge needed for practice in an international accounting environment.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you in meeting the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. Each week introduces key accounting concepts and provides illustrative examples to support your understanding of complex technical issues.
You will engage with problem-solving tasks aligned with weekly topics and assigned readings, designed to develop your technical competence and analytical skills. These activities include opportunities to review prior content on a weekly basis.
All teaching activities, course materials, and other specified readings are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic, and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Active participation in the teaching activities provides practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Individual Company Analysis
You will analyse and professionally communicate a company's latest annual report to evaluate its disclosure quality, professionally communicating your findings.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Comparative Company Analysis
In this assessment, you will:
- Prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the unit;
- Participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- Prepare a reflection to develop reflective thinking skills based on your group work experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.1), TS (4.2)
Assessment: Final Exam
The final exam will assess your understanding of Topics 5-12. You will demonstrate your knowledge of accounting procedures and statutory requirements by answering practical, theoretical, and critical thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2026). Financial Reporting, 5th edition. Brisbane: John Wiley & Sons.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Individual Company Analysis, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Comparative Company Analysis
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Comparative Company Analysis
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
Relates to: ULO4, Comparative Company Analysis - Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Relates to: ULO4, Comparative Company Analysis
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information literacy skills to communicate effectively in written forms and through appropriate digital media, tailored to diverse professional and organisational audiences.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Demonstrate self-reflection and accountability in applying knowledge and skills for continuous learning and effective professional practice in dynamic business environments.
Relates to: ULO4, Comparative Company Analysis
Unit Outline: Semester 1 2027, Online
| Unit code: | AYN485 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN481 or AYN416 |
| Equivalent: | AYN417 |
Overview
This unit focuses on the accounting practices and statutory requirements relevant to companies, which represent a significant portion of entities in professional accounting work. You will learn to interpret and apply accounting standards and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. The unit emphasises the integration of academic knowledge with collaborative problem-solving and self-reflective practice, supporting the development of both your technical accounting competency and broader professional skills required to prepare financial reports for companies.
Positioned mid-way through the Master of Professional Accounting program, this unit builds on the foundational knowledge you acquired in your previous studies of financial accounting systems and provides the technical basis to solve advanced financial accounting issues in your later studies and professional practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of legal, accounting, and financial reporting regulations relevant to companies. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Examine and evaluate the underlying accounting processes required by companies. [HO 2.1]Relates to: PG Business Capabilities 2027: HO (2.1)
- Prepare written analyses of companies' financial reports to produce evidence-based recommendations for stakeholders. [PC 3.1]Relates to: PG Business Capabilities 2027: PC (3.1)
- Work collaboratively to evaluate companies' accounting disclosures, integrating self-reflection to identify strengths and areas for professional growth. [TS 4.1, TS 4.2]
Content
In this unit, you will explore the corporate financial reporting environment in Australia, examining the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). You will critically evaluate the decision-usefulness of the information produced under the different accounting methods.
You will apply accounting methods to complex business structures, such as business combinations, segment reporting, and accounting for joint arrangements. Thus, this unit has broad appeal and will be of interest to those involved in the preparation or use of company financial statements, whether as accountants, auditors, investment bankers, financial analysts, or other financial statement users.
With the harmonisation of the Australian accounting standards with the International Financial Reporting Standards (IFRS), this unit also introduces a global perspective on corporate financial reporting, helping you to build transferable knowledge needed for practice in an international accounting environment.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you in meeting the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. Each week introduces key accounting concepts and provides illustrative examples to support your understanding of complex technical issues.
You will engage with problem-solving tasks aligned with weekly topics and assigned readings, designed to develop your technical competence and analytical skills. These activities include opportunities to review prior content on a weekly basis.
All teaching activities, course materials, and other specified readings are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic, and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Active participation in the teaching activities provides practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Individual Company Analysis
You will analyse and professionally communicate a company's latest annual report to evaluate its disclosure quality, professionally communicating your findings.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Comparative Company Analysis
In this assessment, you will:
- Prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the unit;
- Participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- Prepare a reflection to develop reflective thinking skills based on your group work experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.1), TS (4.2)
Assessment: Final Exam
The final exam will assess your understanding of Topics 5-12. You will demonstrate your knowledge of accounting procedures and statutory requirements by answering practical, theoretical, and critical thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2026). Financial Reporting, 5th edition. Brisbane: John Wiley & Sons.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Individual Company Analysis, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Comparative Company Analysis
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Comparative Company Analysis
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
Relates to: ULO4, Comparative Company Analysis - Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Relates to: ULO4, Comparative Company Analysis
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information literacy skills to communicate effectively in written forms and through appropriate digital media, tailored to diverse professional and organisational audiences.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Demonstrate self-reflection and accountability in applying knowledge and skills for continuous learning and effective professional practice in dynamic business environments.
Relates to: ULO4, Comparative Company Analysis
Unit Outline: Semester 2 2027, Gardens Point, Internal
| Unit code: | AYN485 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN481 or AYN416 |
| Equivalent: | AYN417 |
Overview
This unit focuses on the accounting practices and statutory requirements relevant to companies, which represent a significant portion of entities in professional accounting work. You will learn to interpret and apply accounting standards and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. The unit emphasises the integration of academic knowledge with collaborative problem-solving and self-reflective practice, supporting the development of both your technical accounting competency and broader professional skills required to prepare financial reports for companies.
Positioned mid-way through the Master of Professional Accounting program, this unit builds on the foundational knowledge you acquired in your previous studies of financial accounting systems and provides the technical basis to solve advanced financial accounting issues in your later studies and professional practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of legal, accounting, and financial reporting regulations relevant to companies. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Examine and evaluate the underlying accounting processes required by companies. [HO 2.1]Relates to: PG Business Capabilities 2027: HO (2.1)
- Prepare written analyses of companies' financial reports to produce evidence-based recommendations for stakeholders. [PC 3.1]Relates to: PG Business Capabilities 2027: PC (3.1)
- Work collaboratively to evaluate companies' accounting disclosures, integrating self-reflection to identify strengths and areas for professional growth. [TS 4.1, TS 4.2]
Content
In this unit, you will explore the corporate financial reporting environment in Australia, examining the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). You will critically evaluate the decision-usefulness of the information produced under the different accounting methods.
You will apply accounting methods to complex business structures, such as business combinations, segment reporting, and accounting for joint arrangements. Thus, this unit has broad appeal and will be of interest to those involved in the preparation or use of company financial statements, whether as accountants, auditors, investment bankers, financial analysts, or other financial statement users.
With the harmonisation of the Australian accounting standards with the International Financial Reporting Standards (IFRS), this unit also introduces a global perspective on corporate financial reporting, helping you to build transferable knowledge needed for practice in an international accounting environment.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you in meeting the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. Each week introduces key accounting concepts and provides illustrative examples to support your understanding of complex technical issues.
You will engage with problem-solving tasks aligned with weekly topics and assigned readings, designed to develop your technical competence and analytical skills. These activities include opportunities to review prior content on a weekly basis.
All teaching activities, course materials, and other specified readings are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic, and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Active participation in the teaching activities provides practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Individual Company Analysis
You will analyse and professionally communicate a company's latest annual report to evaluate its disclosure quality, professionally communicating your findings.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Comparative Company Analysis
In this assessment, you will:
- Prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the unit;
- Participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- Prepare a reflection to develop reflective thinking skills based on your group work experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.1), TS (4.2)
Assessment: Final Exam
The final exam will assess your understanding of Topics 5-12. You will demonstrate your knowledge of accounting procedures and statutory requirements by answering practical, theoretical, and critical thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2026). Financial Reporting, 5th edition. Brisbane: John Wiley & Sons.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Individual Company Analysis, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Comparative Company Analysis
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Comparative Company Analysis
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
Relates to: ULO4, Comparative Company Analysis - Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Relates to: ULO4, Comparative Company Analysis
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information literacy skills to communicate effectively in written forms and through appropriate digital media, tailored to diverse professional and organisational audiences.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Demonstrate self-reflection and accountability in applying knowledge and skills for continuous learning and effective professional practice in dynamic business environments.
Relates to: ULO4, Comparative Company Analysis
Unit Outline: Semester 2 2027, Online
| Unit code: | AYN485 |
|---|---|
| Credit points: | 12 |
| Pre-requisite: | AYN481 or AYN416 |
| Equivalent: | AYN417 |
Overview
This unit focuses on the accounting practices and statutory requirements relevant to companies, which represent a significant portion of entities in professional accounting work. You will learn to interpret and apply accounting standards and other statutory requirements governing the accounting procedures reflected in the content of a company's financial reports. The unit emphasises the integration of academic knowledge with collaborative problem-solving and self-reflective practice, supporting the development of both your technical accounting competency and broader professional skills required to prepare financial reports for companies.
Positioned mid-way through the Master of Professional Accounting program, this unit builds on the foundational knowledge you acquired in your previous studies of financial accounting systems and provides the technical basis to solve advanced financial accounting issues in your later studies and professional practice.
Learning Outcomes
On successful completion of this unit you will be able to:
- Demonstrate knowledge and application of legal, accounting, and financial reporting regulations relevant to companies. [KS 1.1]Relates to: PG Business Capabilities 2027: KS (1.1)
- Examine and evaluate the underlying accounting processes required by companies. [HO 2.1]Relates to: PG Business Capabilities 2027: HO (2.1)
- Prepare written analyses of companies' financial reports to produce evidence-based recommendations for stakeholders. [PC 3.1]Relates to: PG Business Capabilities 2027: PC (3.1)
- Work collaboratively to evaluate companies' accounting disclosures, integrating self-reflection to identify strengths and areas for professional growth. [TS 4.1, TS 4.2]
Content
In this unit, you will explore the corporate financial reporting environment in Australia, examining the prescribed financial accounting requirements that are applicable to the different stages of a company's life cycle (from formation to expansion and then to liquidation). You will critically evaluate the decision-usefulness of the information produced under the different accounting methods.
You will apply accounting methods to complex business structures, such as business combinations, segment reporting, and accounting for joint arrangements. Thus, this unit has broad appeal and will be of interest to those involved in the preparation or use of company financial statements, whether as accountants, auditors, investment bankers, financial analysts, or other financial statement users.
With the harmonisation of the Australian accounting standards with the International Financial Reporting Standards (IFRS), this unit also introduces a global perspective on corporate financial reporting, helping you to build transferable knowledge needed for practice in an international accounting environment.
QUT Business Capabilities (Postgraduate)
The content and assessment in this unit are aligned to a selection of the following set of QUT Business Capabilities, also known as Assurance of Learning Goals (AoLs). Developing these capabilities will assist you in meeting the desired graduate outcomes set at QUT and equip you with the knowledge and skills to succeed in your chosen career.
Knowledge & Technical Skills (KS)
1.1 Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
1.2 Leverage digital technologies, data-driven tools, technical and research skills to organise and interpret discipline and professional practice knowledge to investigate digitally enhanced accounting environments.
Higher Order Thinking Skills (HO)
2.1 Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
2.2 Exercise creativity and intellectual independence and make evidence-based decisions and judgements in planning, designing, and executing strategic responses to address real world accounting challenges.
Professional Communication (PC)
3.1 Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
3.2 Use information and digital literacy skills to communicate effectively and professionally in oral forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Teamwork & Self (TS)
4.1 Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
4.2 Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Social, Ethical & Global Understanding (SE)
5.1 Demonstrate ethical reasoning and apply legal and governance principles to critically evaluate and respond to complex accounting decisions and practices.
5.2 Apply socially responsible and sustainability-focused thinking to analyse accounting issues and reflect on the broader impact of organisations in national and global contexts.
Learning Approaches
Teaching and learning strategies are designed to facilitate the aims and learning outcomes of the unit. Each week introduces key accounting concepts and provides illustrative examples to support your understanding of complex technical issues.
You will engage with problem-solving tasks aligned with weekly topics and assigned readings, designed to develop your technical competence and analytical skills. These activities include opportunities to review prior content on a weekly basis.
All teaching activities, course materials, and other specified readings are elements in the teaching and learning strategy. Together, they are designed to give a comprehensive understanding of each topic, and no element should be neglected.
Success in this unit depends upon adequate experience in answering questions that explore technical accounting procedures. Active participation in the teaching activities provides practice in solving problems similar to those set in examinations. Working through these questions and comparing the answers with the suggested solutions provides valuable feedback on the degree of understanding and technical competence attained. Past experience has indicated that there is a strong correlation between success in the unit and regular lecture and tutorial preparation and attendance.
Feedback on Learning and Assessment
Students will receive feedback in various forms throughout the semester which may include:
- Informal: worked examples, such as verbal feedback in class, personal consultation
- Formal: in writing, such as checklists (e.g. criteria sheets), written commentary
- Direct: to individual students, either in written form or in consultation
- Indirect: to the whole class
Assessment
Overview
The assessment aims to support your achievement of the learning outcomes for this Unit. It has been designed in order to allow you to both:
- receive feedback on your learning as you progress toward the development of knowledge, understanding, skills and attitudes (formative assessment); and
- demonstrate your learning in order to achieve a final grade (summative assessment).
Unit Grading Scheme
7- point scale
Assessment Tasks
Assessment: Individual Company Analysis
You will analyse and professionally communicate a company's latest annual report to evaluate its disclosure quality, professionally communicating your findings.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1), PC (3.1)
Assessment: Comparative Company Analysis
In this assessment, you will:
- Prepare a report which examines companies' accounting disclosures based on accounting issues and accounting standards covered in the unit;
- Participate as a cooperative, responsive, productive team member in a teamwork process to develop an understanding of teamwork processes; and
- Prepare a reflection to develop reflective thinking skills based on your group work experience.
The ethical and responsible use of generative artificial intelligence (GenAI) tools is authorised in this assessment. See the relevant assessment details in Canvas for specific guidelines.
This assessment item is based on teamwork and provides evidence of achievement of associated Unit Learning Outcomes and Course Learning Outcomes. Individual submissions/presentations will not be accepted.
This assignment is eligible for the 48-hour late submission period and assignment extensions.
Formative or Summative: Formative and Summative
Business Capabilities (AoL goals): HO (2.1), PC (3.1), TS (4.1), TS (4.2)
Assessment: Final Exam
The final exam will assess your understanding of Topics 5-12. You will demonstrate your knowledge of accounting procedures and statutory requirements by answering practical, theoretical, and critical thinking questions.
The use of generative artificial intelligence (GenAI) tools is prohibited during this assessment.
This invigilated examination requires attendance on campus or at an assessment centre, regardless of your attendance mode for the unit.
This assessment item is a Verified Identity Assessment. Requirements are provided on the Unit Canvas site.
Formative or Summative: Summative
Business Capabilities (AoL goals): KS (1.1), HO (2.1)
Academic Integrity
Academic integrity is a commitment to undertaking academic work and assessment in a manner that is ethical, fair, honest, respectful and accountable.
The Academic Integrity Policy sets out the range of conduct that can be a failure to maintain the standards of academic integrity. This includes, cheating in exams, plagiarism, self-plagiarism, collusion and contract cheating. It also includes providing fraudulent or altered documentation in support of an academic concession application, for example an assignment extension or a deferred exam.
You are encouraged to make use of QUT’s learning support services, resources and tools to assure the academic integrity of your assessment. This includes the use of text matching software that may be available to assist with self-assessing your academic integrity as part of the assessment submission process.
Breaching QUT’s Academic Integrity Policy or engaging in conduct that may defeat or compromise the purpose of assessment can lead to a finding of student misconduct (Code of Conduct – Student) and result in the imposition of penalties under the Management of Student Misconduct Policy, ranging from a grade reduction to exclusion from QUT.
Resources
Resources will be provided on the unit Canvas site.
Resource Materials
Prescribed text(s)
Loftus, J., Leo, K., Daniluc, S., Luke, B., Ang, H., Bradbury, M., Hanlon, D., Boys, N. & Byrnes, K. (2026). Financial Reporting, 5th edition. Brisbane: John Wiley & Sons.
Risk Assessment Statement
There are no out-of-the ordinary risks associated with learning and teaching activities in this unit.
Standards/Competencies
This unit is designed to support your development of the following standards\competencies.
QUT Business Capabilities (Postgraduate) 2027
HO (2.1): Critical Analysis
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam
KS (1.1): Discipline Knowledge
Relates to: ULO1, Individual Company Analysis, Final Exam
PC (3.1): Professional Communication (Written)
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis
TS (4.1): Self-Reflection and Accountability
Relates to: ULO4, Comparative Company Analysis
TS (4.2): Teamwork Knowledge and Skills
Relates to: ULO4, Comparative Company Analysis
Course Learning Outcomes
This unit is designed to support your development of the following course/study area learning outcomes.BS13 Master of Professional Accounting
- Demonstrate and apply advanced, integrated discipline and professional practice knowledge, including relevant research principles and methods, to address complex and evolving accounting challenges.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate complex, real-world accounting problems by analysing, evaluating, and synthesising discipline and professional practice knowledge.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information and digital literacy skills to communicate effectively and professionally in written forms, using appropriate technologies and media for diverse purposes, audiences, and accounting contexts.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Exercise self- reflection and accountability in applying knowledge and skills to support continuous learning, adaptability and effective professional growth.
Relates to: ULO4, Comparative Company Analysis - Apply collaborative capabilities to work effectively in diverse teams and across complex, interdisciplinary accounting environments.
Relates to: ULO4, Comparative Company Analysis
BS67 Graduate Diploma in Business (Accounting)
- Apply advanced interdisciplinary knowledge, including relevant research principles and methods to understand and respond to accounting.
Relates to: ULO1, Individual Company Analysis, Final Exam - Critically investigate real-world accounting issues and challenges using analysis, evaluation, and synthesis of interdisciplinary knowledge, including theory and practice.
Relates to: ULO2, Individual Company Analysis, Comparative Company Analysis, Final Exam - Use information literacy skills to communicate effectively in written forms and through appropriate digital media, tailored to diverse professional and organisational audiences.
Relates to: ULO3, Individual Company Analysis, Comparative Company Analysis - Demonstrate self-reflection and accountability in applying knowledge and skills for continuous learning and effective professional practice in dynamic business environments.
Relates to: ULO4, Comparative Company Analysis