There are now 3 possible online modes for units:
Units with modes Online timetabled and Online flexible are available for any student to self-enrol and study online.
Units available in Online Restricted mode have been adapted for online study only for those students who require the unit to complete their studies and who are unable to attend campus due to COVID border closures. To be enrolled in a unit in Online Restricted mode, students should contact their Student Advising Office through askUWA and include which of the below criteria applies:
- You are a student who is currently offshore and unable to enter Australia.
- You are a student in Australia who is impacted by state or regional border closures.
Click on an offering mode for more details.
Face to face
Predominantly face-to-face. On campus attendance required to complete this unit. May have accompanying resources online.
100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit is asynchronous delivery, with NO requirement for students to participate online at specific times.
100% Online Unit. NO campus face-to-face attendance is required to complete this unit. All study requirements are online only. Unit includes some synchronous components, with a requirement for students to participate online at specific times.
Not available for self-enrolment. Restricted to enrolment by students unable to attend campus due to COVID border closures. Students access this mode by contacting their student office through AskUWA. 100% Online Unit.
NO campus face-to-face attendance. All study and assessment requirements are online only. Unit includes some timetabled activities, with a requirement for students to participate online at specific times. In exceptional cases (noted in the Handbook) students may be required to participate in face-to-face laboratory classes when a return to UWA’s Crawley campus becomes possible in order to be awarded a final grade.
No attendance or regular contact is required, and all study requirements are completed either via correspondence and/or online submission.
Regular attendance is not required, but student attends the institution face to face on an agreed schedule for purposes of supervision and/or instruction.
Multiple modes of delivery. Unit includes a mix of online and on-campus study requirements. On campus attendance for some activities is required to complete this unit.
ACCT5704 Financial Accounting and Reporting
- 6 points
Availability Location Mode Non-standard teaching period UWA (Perth) Face to face Non-standard teaching period UWA (Perth) Face to face Non-standard teaching period UWA (Perth) Face to face
- In Financial Accounting and Reporting, students apply International Financial Reporting Standards (IFRS) or local equivalents, and regulatory and ethical requirements to account for and report on a diverse range of business transactions and events.
The unit will advance students' technical knowledge of financial accounting and reporting and develop broader professional and business skills in problem solving, critical thinking, research, evaluation and communication.
Through practical case studies and scenarios, students are required to apply the accounting standards and use professional judgement to determine the appropriate accounting treatment of transactions and events, identify the impacts of those transactions and events on financial statements, and prepare financial statements and related note disclosures. As part of these practical cases studies and scenarios students will be required to identify appropriate courses of action for complex ethical dilemmas within a financial reporting context. Students will also be required to keep abreast of new accounting standards as well as revisions and amendments to existing standards, evaluating these changes and their implications to provide clear, concise and relevant advice.
- Students are able to (1) apply technical knowledge to account for complex transactions and events; (2) prepare financial statements in accordance with International Financial Reporting Standards (IFRS) or local equivalents, and applicable legislation; (3) evaluate future changes that impact the financial reporting environment; and (4) evaluate and respond appropriately to complex ethical issues in the context of financial reporting.
- Indicative assessments in this unit are as follows: (1) online assessments and (2) exam. Further information is available in the unit outline.
To pass this unit, a student must: (a) achieve an overall mark of 50 per cent or higher for the unit; and (b) achieve the requisite requirements(s) or a mark of 50 per cent or greater, whichever is higher and specified in the unit outline, for the exam component.
For units commencing in May 2022 or later the availability of the supplementary assessment is subject to confirmation.Student may be offered supplementary assessment in this unit if they meet the eligibility criteria.
Except where supplementary assessment is not available in a unit, it will be offered to students in all units who:
- Are in good academic standing overall;
- Have passed over half the units taken in the teaching period concerned, except where they are only enrolled in two or less units in the period;
- Have submitted all assessment items in the unit;
- Have achieved a mark between 45 and 49 for the unit overall, or the same mark in any failed component item in the unit; and
- No finding of academic misconduct has been made against them in the unit concerned.
Additionally student may apply for supplementary assessment in any unit which is the final unit required for graduation in there course and where they have achieved a mark between 45 and 49 for the unit overall, or the same mark in any failed component item in the unit.
- Unit Coordinator(s)
- Professor Phil Hancock
- Unit rules
- ACCT5432 Introductory Financial Accounting (ID 2664) and MGMT5504 Data Analysis and Decision Making (ID 3513) and ECON5541 Economics for Business: Applications and Policy (ID 5315) and LAWS5508 Commercial and Company Law (ID 3360) and FINA5533 Finance Essentials (ID 6240) and ACCT5511 Intermediate Corporate Financial Accounting (ID 2666) and ACCT5531 Financial Accounting: Theory and Practice (ID 2669) and ACCT5633 Accounting for Planning and Control (ID 2672) and ACCT5706 Ethics, Risk and Technology (ID 7946) and for students in the Master of Professional Accounting a weighted average mark of 65% or 42340 Graduate Diploma in Commerce (Chartered Accounting) (ID 1511) and ACCT5706 Ethics, Risk and Technology (ID 7946)
- Six-month rule
Legislation changes constantly. In the Program modules, you are expected to be up to date with relevant legislation, Standards, cases, rulings, determinations and other guidance as they stand six months before the exam date unless otherwise stated. In some instances the International Accounting Standard may have been updated while the Australian Standard or New Zealand
Standard may not. International Standards can be accessed from the IFRS website (www.ifrs.org), you will need to register to access the content on this website but it is free to do so.
You are always encouraged to be aware of developments in financial reporting. The relevant date for legislation is the date the legislation receives royal assent. The relevant date for Accounting Standards and other material is the issue date. Early adoption of Standards is generally encouraged.
Students enrolled in the Graduate Diploma in Commerce (Chartered Accounting) may complete this unit concurrently with ACCT5706 Ethics, Risk & Technology
- The availability of units in Semester 1, 2, etc. was correct at the time of publication but may be subject to change.
- All students are responsible for identifying when they need assistance to improve their academic learning, research, English language and numeracy skills; seeking out the services and resources available to help them; and applying what they learn. Students are encouraged to register for free online support through GETSmart; to help themselves to the extensive range of resources on UWA's STUDYSmarter website; and to participate in WRITESmart and (ma+hs)Smart drop-ins and workshops.
- Unit readings, including any essential textbooks, are listed in the unit outline for each unit, one week prior the commencement of study. The unit outline will be available via the LMS and the UWA Handbook one week prior the commencement of study. Reading lists and essential textbooks are subject to change each semester. Information on essential textbooks will also be made available on the Essential Textbooks. This website is updated regularly in the lead up to semester so content may change. It is recommended that students purchase essential textbooks for convenience due to the frequency with which they will be required during the unit. A limited number of textbooks will be made available from the Library in print and will also be made available online wherever possible. Essential textbooks can be purchased from the commercial vendors to secure the best deal. The Student Guild can provide assistance on where to purchase books if required. Books can be purchased second hand at the Guild Secondhand bookshop (second floor, Guild Village), which is located on campus.