Strategic Business Reporting

This subject is available as a postgraduate-level subject for students studying the Master of Professional Accounting at ICMS.

Subject Code:

ACC823A

Subject Type:

Core

Subject Level:

800

Credit Points:

4 credit points

Pre-requisite:

ACC821A Applied Financial Accounting and Reporting

Subject Rationale:

This subject builds on the knowledge skills of the Applied Financial Accounting and Reporting subject. It focuses on more complex reporting of the financial performance of a group of entities. Students will have an opportunity to practice advanced accounting concepts applicable to the preparation of consolidated financial statements for a group of entities to support strategic decision making.

Students will be required to apply professional and ethical judgement when preparing group financial reports and interpret them to various stakeholders by addressing their specific information needs. Students will be expected to apply fundamental ethical and professional principles to various ethical dilemmas presented and to discuss the consequences of unethical behaviour. They will also discuss changes in accounting regulation and their impact on corporate financial reporting.

The subject is aligned with and will prepare students for the Association of Certified Chartered Accountants (ACCA) Strategic Business Reporting Exam.

Learning Outcomes:

a) Apply ethical and professional principles to ethical dilemmas and discuss the consequences of unethical behaviour on the preparation of corporate reports.

b) Critically analyse the changes in accounting standards and regulations and assess their impact on corporate financial reporting.

c) Execute professional judgement in the preparation of financial reports of a group of entities.

d) Critically evaluate and apply relevant accounting standards and regulations and prepare consolidated financial statements of a group of entities.

e) Interpret financial statements of a group of entities and communicate the outcomes to various stakeholders.

Assessment Information:

Learning outcomes for this subject are assessed using a range of assessment tasks as described in the table below.