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 Availability Modes and Location

Session 1
OnlineWagga Wagga Campus
On CampusCSU Study Centre Melbourne
Session 2
OnlineWagga Wagga Campus
On CampusAlbury-Wodonga Campus
On CampusBathurst Campus
On CampusCSU Study Centre Melbourne
On CampusCSU Study Centre Sydney
On CampusPort Macquarie
On CampusWagga Wagga Campus
Session 3
OnlineWagga 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

Duration Grading System School:
One sessionHD/FLSchool 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.
Prerequisite(s)Incompatible subject(s)Related subject(s)
ACC110ACC220 ACC282 ACC321 ACC282 Similar subject content.
ACC321 Similar subject content.
ACC220 Similar subject content.

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.


The 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.


The information contained in the 2018 CSU Handbook was accurate at the date of publication: 13 April 2018. The University reserves the right to vary the information at any time without notice.