ACC222 External Reporting (8)

This subject begins with an introduction to the sources of international financial reporting regulation and an overview of the conceptual framework, both crucial to informing the global debate regarding financial reporting standard formulation and application. The remainder of the subject applies selected financial reporting standards to specific real world business issues including the raising of capital, impairment of assets and management of long-term construction contracts. Students will gain an appreciation of the dynamic and contested arena of financial reporting standard setting. This subject is the first of two with an exclusive focus on financial accounting.

Subject Outlines
Current CSU students can view Subject Outlines for recent sessions. Please note that Subject Outlines and assessment tasks are updated each session.


Session 1 (30)
On Campus
CSU Study Centre Melbourne
Wagga Wagga Campus
Session 2 (60)
On Campus
Albury-Wodonga Campus
Bathurst Campus
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus
Wagga Wagga Campus
Wagga Wagga Campus
Session 3 (90)
Wagga Wagga Campus

Continuing students should consult the SAL for current offering details: ACC222. Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System



One session


School of Accounting and Finance

Enrolment Restrictions

Not available to students who have completed ACC321, ACC220, ACC282 or RMBU2649. Completion of RMBU1645 satisfies the prerequisite for this subject. RMBU2649 and RMBU1645 are previous University of Sydney Orange Campus subjects.



Subject Relationships

ACC282 Similar subject content.
ACC321 Similar subject content.
ACC220 Similar subject content.

Incompatible Subjects

ACC220, ACC282, ACC321

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to outline the nature of financial reporting regulations that exist for reporting entities and companies in general;
  • be able to explain the role of the financial reporting conceptual framework and apply its components to practical situations;
  • be able to critically analyse current issues relating to the global development and application of financial reporting standards;
  • be able to demonstrate an understanding of the form and content of published financial reports; and
  • be able to apply generally accepted accounting principles and specific financial reporting standards relating to concepts of recognition, measurement, disclosure, revaluation and impairment of financial statement elements.


This subject will cover the following topics:
  • the sources of financial reporting regulation;
  • the conceptual framework for financial reporting;
  • financial report presentation and disclosure;
  • accounting for equity;
  • accounting for intangibles, research and development;
  • accounting for the revaluation and impairment of assets;
  • accounting for leases;
  • accounting for liabilities; and
  • accounting for long-term construction contracts.


Current Students

For any enquiries about subject selection or course structure please contact Student Central or or phone on 1800 275 278.

Prospective Students

For further information about Charles Sturt University, or this course offering, please contact info.csu on 1800 275 278 (free call within Australia) or enquire online.

The information contained in the 2018 CSU Handbook was accurate at the date of publication: August 2018. The University reserves the right to vary the information at any time without notice.