• Class Number 2922
  • Term Code 3130
  • Class Info
  • Unit Value 6 units
  • Mode of Delivery In Person
    • Dr Isabel Wang
    • Dr Isabel Wang
    • AsPr Janet Lee
  • Class Dates
  • Class Start Date 22/02/2021
  • Class End Date 28/05/2021
  • Census Date 31/03/2021
  • Last Date to Enrol 01/03/2021
SELT Survey Results

The course examines a selection of advanced financial reporting issues that are included, or under consideration for inclusion in, accounting standards applicable in Australia. It provides an advanced description of the corporate reporting environment and its challenges, and examines the political and international pressures shaping the standard setting process in Australia. It also addresses the objectives and social and economic roles played by financial accounting and reporting. The course further examines accounting and disclosure issues pertaining to fair value measurement, financial instruments, share-based payments, foreign currency translation, segment reporting, specific industries, external administration and advanced topics relating to equity interests. Technical and theoretical aspects are considered.

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

  1. Demonstrate an understanding of the Australian external reporting environment and its challenges.
  2. Demonstrate a deep and broad understanding of the objectives and social and economic roles played by financial accounting and reporting.
  3. Analyse, evaluate and interpret various advanced measurement and disclosure issues and other specialised topics pertaining to an economic entity.
  4. Apply main features of a selection of Australian accounting standards.
  5. Analyse complex issues, formulate well reasoned and coherent arguments and reach well considered conclusions.

Research-Led Teaching

The syllabus for this course is anchored in the Australian regulatory corporate financial reporting framework, including the AASB standards associated with accounting and disclosure of the advanced topics involved. At the same time, however, the course also draws on research-based academic journal publications consisting of empirical, theoretical and review articles in examining the challenges and pressures shaping the standard setting process.

Examination Material or equipment

Details regarding examination conduct can be found on the ANU website:


Information regarding permitted examination materials for the course will be available on the examination timetable website when the examination timetable is released:


Required Resources


Prescribed Texts

Loftus, J., Leo, K., Daniliuc, S., Boys, N., Luke, B., Ang, H., and Byrnes, K., 2020. Financial Reporting, 3rd edition, Wiley.

Students are expected to have access to a copy of the prescribed book for the duration of the semester. A few copies of the text are available for 2 hour loan in the reserve loan section of the Chifley Library. An ebook version of the text is available from the Chifley Library via https://library.anu.edu.au/record=b6273000, but with limited concurrent users at any one time.

You can also buy the digital version (e-book) of the text from the publisher https://www.wileydirect.com.au/buy/financial-reporting-3rd-edition/ using the preceding link for a very affordable price.

Supplementary Reading Materials

Supplementary reading materials on various topics will be provided on Wattle as required.

Recommended Reading (available from the library or online)

Chartered Accountants Australia and New Zealand, Financial Reporting Handbook 2020 Wiley. (Alternatively, access to Australian Accounting Standards Board through the AASB website: http://www.aasb.gov.au)

Deegan, C., 2020, Australian Financial Accounting, 9th edition, McGraw-Hill Irwin.

Henderson, S., Peirson, G., Herbohn, K., Artiach, T. and Howieson, B., 2017, Issues in Financial Accounting, 16th edition, Pearson.

Leo, K., Knapp, J., McGowan, M., Sweeting, J. and Meng L., 2020. Company Accounting, 12th Rev edition, Wiley.

Clarke, F. and Dean, G., 2007, Indecent Disclosure: Gilding the Corporate Lily, Cambridge University Press.

Clarke, F., Dean, G. and Oliver, K., 1997, Corporate Collapse: Regulatory, Accounting and Ethical Failure, Cambridge University Press.

Staff Feedback

Students will be given feedback in various ways in this course, including verbal or written feedback on the return of assessment tasks, during class discussion, or during consultation with lecturers and tutors.

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Other Information


As a further academic integrity control, students may be selected for a 15 minute individual oral examination of their written assessment submissions.

Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Misconduct Rule.





Email and Forums on the Wattle Course Website

Email and the Wattle course website are the preferred ways of communication.

If necessary, the lecturer and tutors for this course will contact students on their official ANU student email address. Students should use this email address when contacting staff as spam filters used by ANU may not allow other email addresses to be received.



Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials will be posted on the door of the relevant room and on Wattle.

Class Schedule

Week/Session Summary of Activities Assessment
1 Australian regulatory reporting issues [Consolidation revision] Readings - Loftus Chapter 1 Supplementary reading materials
2 Corporate governance, accounting and financial reporting [Consolidation revision] Readings - Loftus Chapter 2 Supplementary reading materials
3 Consolidation: other issues Readings - Loftus Chapter 30 Supplementary reading materials
4 Consolidation: other issues, continued Joint arrangements. Readings - Loftus Chapter 30 Loftus Chapter 32 Supplementary reading materials Assignment 1 due at 4pm on Thursday, 18 March 2021
5 Fair value measurement Readings - Loftus Chapter 3 Supplementary reading materials
6 Revenue Reading - Loftus Chapter 15 Supplementary reading materials Mid-semester examination
7 Share-based payment transactions Readings - Loftus Chapter 14 Supplementary reading materials
8 Operating segments Readings - Loftus Chapter 20 Supplementary reading materials .
9 Accounting for mineral resources Readings - Loftus Chapter 34 Supplementary reading materials
10 Financial instruments Readings - Loftus Chapter 11 Supplementary reading materials Assignment 2 due at 4pm on Thursday, 13 May 2021
11 Foreign currency translation Readings - Loftus Chapters 23 & 24 Supplementary reading materials
12 External administration and liquidations Loftus Chapter 33 Supplementary reading materials

Tutorial Registration

Please see Wattle for tutors’ information.

Tutorials will be available face-to-face or through live Zoom class. Enrolment for the various options, and times of the classes will be made available on Wattle. When tutorials are available for enrolment, follow these steps:

1. Log on to Wattle, and go to the course site.

2. Click on the link “Tutorial enrolment”

3. On the right of the screen, click on the tab “Become Member of ……” for the tutorial class you wish to enter.

4. Confirm your choice

If you need to change your enrolment, you will be able to do so by clicking on the tab “Leave group…” and then re-enrol in another group. You will not be able to enrol in groups that have reached their maximum number. Please note that enrolment in ISIS must be finalised for you to have access to Wattle.

Assessment Summary

Assessment task Value Due Date Return of assessment Learning Outcomes
Tutorial preparation and participation (5%) 5 % 01/03/2021 02/06/2021 5
Assignment 1 (10%) 10 % 18/03/2021 01/04/2021 1,2,3,4,5
Assignment 2 (15%) 15 % 13/05/2021 02/06/2021 1,2,3,4,5
Mid-semester Examination (20%) 20 % 29/03/2021 07/05/2021 1,2,3,4,5
Final Examination (50%) 50 % 03/06/2021 01/07/2021 1,2,3,4,5

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details


ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.



Assessment Task 1

Value: 5 %
Due Date: 01/03/2021
Return of Assessment: 02/06/2021
Learning Outcomes: 5

Tutorial preparation and participation (5%)

Due Date: The due date listed in the assessment summary is the earliest possible date. This assessment task is assessed weekly, commencing in Week 2.


Students are required to prepare the relevant set of questions in advance of attending tutorials and come to tutorials prepared for discuss the issues involved, and any difficulties encountered in responding to the set questions and areas where they are in need of clarifications. It is expected that students will attend ALL tutorials scheduled for the course. As part of your assessment, a participation mark is included for critical in-class (tutorial) discussion. The participation mark is for PARTICIPATION and CONTRIBUTION TO THE DISCUSSION IN TUTORIALS, not for mere attendance. Of course, you cannot participate if you are not in attendance. If you attend all tutorials but do not contribute to the majority of tutorials, do not expect to pass this part of the assessment.

Weekly Marking Guidelines:

You will be assessed on your demonstration of the skills and abilities described in Learning Outcome 5 of the course:

1 mark - Demonstrate the ability to analyse complex issues and formulate well-reasoned and coherent arguments in reaching well considered conclusions.

0 mark - Does not demonstrate the ability to analyse complex issues and formulate well-reasoned and coherent arguments.

Feedback: Progressive feedback will be provided on participation by Week 6.

To achieve the maximum 5% grade for this assessment task, students will need to contribute to active discussion in at least 5 tutorials during the semester.

Assessment Task 2

Value: 10 %
Due Date: 18/03/2021
Return of Assessment: 01/04/2021
Learning Outcomes: 1,2,3,4,5

Assignment 1 (10%)

Due Date: 4pm on Thursday, 18 March 2021, via Turnitin.


Students will work individually for this assessment task. Each student will prepare a short essay based on a major issue(s) in Week 1 and Week 2. The preparation of the paper will require research into the relevant issues.


This assignment provides you with an opportunity to identify and evaluate relevant financial accounting/reporting and corporate governance issues, and develop your ability to analyse an issue critically and systematically.

Further details

Further details of the assignment will be provided by the end of Week 1.

Assessment Task 3

Value: 15 %
Due Date: 13/05/2021
Return of Assessment: 02/06/2021
Learning Outcomes: 1,2,3,4,5

Assignment 2 (15%)

Due Date: 4pm on Thursday, 13 May 2021, via Turnitin.


Students will work individually for this assessment task. Each student will prepare a paper basis on a major issue(s) in Week 7. The preparation of the paper will require extensive reading. It is expected to be well-researched and properly prepared. Students are encouraged to discuss issues relating to the paper with the lecturer or tutor prior to its preparation and submission.


This assignment provides you with an opportunity to apply theoretical and technical aspects of financial accounting/reporting relating to a practical case and/or academic debate, and develop your ability to analyse an issue critically and systematically.

Further details

Further details of the assignment will be provided no less than 3 weeks before the due date.

Assessment Task 4

Value: 20 %
Due Date: 29/03/2021
Return of Assessment: 07/05/2021
Learning Outcomes: 1,2,3,4,5

Mid-semester Examination (20%)

The mid-semester examination will cover topics in Weeks 1 to 4 inclusive. This examination will be a 60-minute exam. Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. The due date listed in the assessment summary is the earliest possible date. Mid-semester exams will be held in either Week 6 or Week 7. Please check ANU Timetabling for further information. Information regarding exam script viewing will be provided in due course.

Assessment Task 5

Value: 50 %
Due Date: 03/06/2021
Return of Assessment: 01/07/2021
Learning Outcomes: 1,2,3,4,5

Final Examination (50%)

Details of the final exam will be provided no later than Week 12.

Centrally administered examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. The due date listed in the assessment summary is the earliest possible date. Please check ANU Timetabling for further information. Information regarding exam script viewing will be provided in due course.

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. At its heart, academic integrity is about behaving ethically, committing to honest and responsible scholarly practice and upholding these values with respect and fairness.

The ANU commits to assisting all members of our community to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to be familiar with the academic integrity principle and Academic Misconduct Rule, uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with.

The Academic Misconduct Rule is in place to promote academic integrity and manage academic misconduct. Very minor breaches of the academic integrity principle may result in a reduction of marks of up to 10% of the total marks available for the assessment. The ANU offers a number of online and in person services to assist students with their assignments, examinations, and other learning activities. Visit the Academic Skills website for more information about academic integrity, your responsibilities and for assistance with your assignments, writing skills and study.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment through Turnitin. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

For some forms of assessment (hand written assignments, art works, laboratory notes, etc.) hard copy submission is appropriate when approved by the Associate Dean (Education). Hard copy submissions must utilise the Assignment Cover Sheet. Please keep a copy of tasks completed for your records.

Late Submission

 Late submission is not permitted. If an assessment task is submitted without an extension after the due date, a mark of 0 will be awarded.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

The assignment will effectively be ‘returned’ in the process of providing feedback via the Turnitin system.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

Resubmission of assignments is not permitted in this course.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service – including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes.

Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

Dr Isabel Wang
+61 2 6125 5758

Research Interests

Janet Lee has over twenty years of teaching experience at tertiary level. She has taught financial accounting, corporate financial reporting and public sector accounting at both the undergraduate and postgraduate levels. Her research interests are in the areas of public sector financial and performance information, corporate social responsibility and governance issues.

Isabel Wang has ten years of teaching experience at tertiary level. She has taught financial accounting, corporate financial reporting, auditing and accounting theory at both the undergraduate and postgraduate levels. Her research interests include judgment and decision making in accounting, management accounting and auditing.

Dr Isabel Wang

Friday 09:00 11:00
Friday 09:00 11:00
Dr Isabel Wang
6125 5758

Research Interests

Dr Isabel Wang

Friday 09:00 11:00
Friday 09:00 11:00
AsPr Janet Lee
6125 4336

Research Interests

AsPr Janet Lee

Thursday 12:00 14:00

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