Course Title: Prepare complex corporate financial reports

Part B: Course Detail

Teaching Period: Term2 2025

Course Code: ACCT5393C

Course Title: Prepare complex corporate financial reports

School: 525T Business & Enterprise

Campus: City Campus

Program: C6181 - Advanced Diploma of Accounting

Course Contact: Doug Gourlay

Course Contact Phone: +61 3 9925 5944

Course Contact Email: doug.gourlay@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Anjella Davydov

anjella.davydov2@rmit.edu.au

Nominal Hours: 60

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

The following unit is a pre-requisite for this unit:

ACCT5442C (FNSACC524) Prepare financial reports for corporate entities

Course Description

This unit describes the skills and knowledge required to compile and analyse financial data, identify appropriate reporting requirements, and develop and prepare complex financial reports for reporting entities.

It applies to individuals who use specialised knowledge and systematic approaches to construct detailed reports following specific guidelines and compliance requirements.

Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

FNSACC614 Prepare complex corporate financial reports

Element:

1. Compile data

Performance Criteria:

1.1 Obtain, systematically code and classify data, and check for accuracy and reliability in accordance with organisational policy, procedures and accounting standards

1.2 Use conversion and consolidation procedures to compile data in accordance with organisational policy and procedures

1.3 Identify and record valuations in compliance with relevant accounting standards and effects of taxation

Element:

2. Identify appropriate reporting entities

Performance Criteria:

2.1 Identify partially owned subsidiaries and controlled entities

2.2 Identify joint ventures and other entities to be included in reports

2.3 Identify and apply appropriate accounting treatments for reporting entities

Element:

3. Prepare reports

Performance Criteria:

3.1 Ensure structure and format of reports that may include charts, diagrams and supporting data are clear and conform to statutory and other regulatory requirements and organisational procedures

3.2 Ensure statements and data are accurate, comprehensive and comply with statutory and other regulatory requirements and organisational procedures

3.3 Prepare reports in accordance with corporation law, accounting standards, securities exchange listing requirements and Generally Accepted Accounting Principles (GAAP), and comply with disclosure requirements

Element:

4. Analyse reports

Performance Criteria:

4.1 Identify significant issues in statements, including comparative financial performances

4.2 Report implications of analysis to appropriate levels of management and external bodies


Learning Outcomes



Details of Learning Activities

Learning Outcomes:

1 Compile data,
2 Identify appropriate reporting entities
3 Prepare reports
4 Analyse reports.

Learning Activities:

We will participate together in a range of learning activities including self-paced and collaborative classroom exercises. Self-paced activities will include exercises from the recommended text, and others provided by your trainer.
You are expected to participate in all scheduled learning activities and to complete any or all exercises set for homework.

Pre-requisites and Co-requisites:


FNSACC524 Prepare financial reports for reporting entities.


Teaching Schedule

The course contains a summary of the learning structure, which will help students check the status. This should include:

  • When classes are held
  • What learning materials and activities need to be completed; and,
  • What assessments are due

or a schedule of F2F and other events (e.g. weekly topics, assignments, studios, labs, quizzes) are supplied via a Canvas page or as a downloadable document (may be from the Course Guide, with additional info).

The course contains a summary of the learning structure, which will help students check the status. This should include:

  • When classes are held
  • What learning materials and activities need to be completed; and,
  • What assessments are due

or a schedule of F2F and other events (e.g. weekly topics, assignments, studios, labs, quizzes) are supplied via a Canvas page or as a downloadable document (may be from the Course Guide, with additional info).

Course Schedule: Semester 2 2025

Week

Week Commencing

Topics

Assessment

1

14/07/2025

Introduction to the Course.

Assessment requirements, textbook, Practical Placement; review of double-entry accounting

Use textbook chapter 1 exercises on wholly owned subsidiaries.

2

21/07/2025

Chapter 1 exercises on wholly owned subsidiaries.

Chapter 1 Consolidations of companies accounts with an NCI (non-controlling interest).

Quiz 1

3

28/07/2025

Consolidations advanced exercises

4

04/08/2025

Consolidations advanced exercises

Consolidations Revision exercises

Quiz 2

5

11/08/2025

Chapter 2 - Intro to Amalgamations

Assessment Task 1 Part 1
(Consolidations)

Results will be released in week 6 and re-submission will take place in week 7.

6

18/08/2025

Chapter 2: Exercises on amalgamations

7

25/08/2025

Chapter 2 Amalgamations- goodwill, ratio analysis, presentation of data- and Advanced amalgamations

Mid Semester Break 01 September 2025 to 07 September 2025

8

08/09/2025

Chapter 2: Advanced amalgamations

Amalgamations Revision exercises

9

15/09/2025

Assessment Amalgamations

Chapter 3: Liquidations and Receivership

Assessment Task 1 Part 2
(Amalgamations)

Results will be released in week 10 and re-submission will take place in week 11.
10

22/09/2025

Chapter 3: Liquidations and Receivership

Public Holiday: AFL Grand Final September 27th

11

29/09/2025

Chapter 4: Foreign currency transactions

12

06/10/2025

Chapter 4: Foreign currency transactions

Chapter 5: Joint Arrangements

.

13

13/10/2025

Chapter 5: Joint Arrangements

14

20/10/2025

Chapter 5: Joint Arrangements

Revision exercises

Assessment Task 1 Part 3 (Chapters 4 & 5)

Results will be released in week 15 and re-submission will take place in week 16

15

27/10/2025

Knowledge evidence questions

Assessment 2 is due: Knowledge evidence questions.

Results will be released in week 16 and re-submission will take place in week 16

16

03/11/2025

Feedback, resits/resubmissions

Public holiday: Melbourne Cup Day November 4th

17

10/11/2025

Final resits/resubmissions

18

17/11/2025

Finalisation of results


Learning Resources

Prescribed Texts

Prepare Complex Corp Fin Reports

ISBN: 978-1-876124-98-4

References


Other Resources

Text:


‘Prepare complex corporate financial reports’ , Gavin Dumbrell and Damien Kelly, 4th edition, published by Learnnow, www.learnnowbiz.com, ISBN 978-1 876124 98 4. The text may be ordered direct from the publisher.

Other Resources to support Your Learning

To successfully complete this unit, you are encouraged to access a range of authoritative and industry-relevant online resources. These will help you develop the technical knowledge and practical skills required to prepare complex corporate financial reports.

Regulatory and Standards Resources

  • Australian Accounting Standards Board (AASB) – full accounting standards, updates, and application guidance.
  • International Financial Reporting Standards (IFRS Foundation) – global standards and interpretations.
  • Australian Securities and Investments Commission (ASIC) – reporting obligations and compliance requirements for companies.
  • Australian Taxation Office (ATO) – taxation rulings and reporting guidelines.

Professional Associations

  • CPA Australia, CA ANZ, and Institute of Public Accountants (IPA) – technical guidance, practice updates, webinars, and case studies on corporate reporting.
  • Chartered Financial Analyst (CFA Institute) – research, publications, and best practice examples of corporate disclosures.

Practical Tools and Learning Support

  • Company Annual Reports – available via company websites and the ASX (Australian Securities Exchange) announcements platform, providing real-world examples of consolidated statements, notes to accounts, and disclosures.
  • Excel and Accounting Software Tutorials – Microsoft Learn (Excel for financial reporting), MYOB/QuickBooks learning portals.
  • Financial Reporting Templates and Checklists – model statements and compliance checklists from professional bodies and regulators.
  • Open Educational Resources (OERs) – such as Corporate Finance Institute (CFI), Investopedia, and Open Textbooks for financial reporting principles and worked examples.

Academic and Research Databases (via RMIT Library)

  • eBooks and journals on advanced accounting and corporate finance.
  • Access to databases such as IBISWorld, Morningstar, and Business Source Complete for corporate reporting case studies and analysis.


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

Evidence of the ability to:

  • compile, analyse and validate complex financial data
  • prepare complex corporate reports for reporting entities that comply with:
    • organisational policy and procedures
    • statutory requirements
    • accounting standards

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • identify appropriate key reporting entities and their main purposes and roles
  • outline the key types and sources of data required for complex financial reports
  • outline the key features of integrated accounting computerised systems
  • identify and explain the key features of business taxation requirements
  • discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements
  • explain the key features of financial legislation and statutory requirements relating to delegated authorities, disclosure requirements, reporting periods and taxation payment timings
  • compare and contrast methods of presenting financial data
  • explain options, methods and practices for deductions, benefits and depreciations
  • identify and explain the key features of organisational guidelines and procedures
  • identify and explain the key principles of double-entry bookkeeping and accrual accounting
  • identify and discuss issues relevant to business legal requirements

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered where evidence gathered demonstrates consistent performance of typical activities experienced in the accounting field of work and include access to:

  • common office equipment, technology, software and consumables.
  • an integrated financial software system and data

Assessors must satisfy NVR/AQTF assessor requirements.

You are advised that you are likely to be asked to personally demonstrate your assessment work to your teacher to ensure that the relevant competency standards are being met.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions. You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed. Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.


Assessment Tasks

Assessments:


Four assessment tasks are planned. You are required to satisfactorily complete all four tasks.

The Teacher or Course Coordinator may request anytime to ask students to demonstrate and/or reproduce assessments to validate authenticity.


Assessment Task 1 (Weeks 5, 9 and 14) consists of three in-class tests. These may be closed book tests, however the theory parts of the questions may be open book.


Assessment Task 2(Week 15) is a knowledge test comprising a series of theory questions, and because of its length it is a take home test. All questions in this assessment must be answered correctly, so it is important that you have time to consider each question very carefully. The purpose of this assessment is to ensure you know the background underpinning accounting (for example, ethics of the accounting profession).


Assessment Matrix

The assessment matrix that maps all the assessment is available on CANVAS under Assignments.

All assessments will utilise a competency-based model and will be deemed as either Satisfactory or Not Yet Satisfactory.

https://rmit.instructure.com/courses/146101/assignments

Other Information

Submission Requirements

Submit an assessment online via Canvas

Most assessments at RMIT can be submitted online via Canvas using Turnitin software. Submissions via Canvas include an online assessment declaration.

Go to the Canvas webpage for instructions on how to submit your assessments via Canvas. Fo further details refer to https://www.rmit.edu.au/students/my-course/assessment-results/assessment

Each page of your assessment file should include footer with your name, student number, the title of the assessment, unit code and title and page numbers. For example, Oscar May, s324567, Task 2, FNSACC614 Prepare complex reports for corporate entities, Page 1 of 10.

Student support

Your first point of contact for any support needs with your assessments should be your teacher and assessor. If you require further support, you should consider contacting the following support services at RMIT.

Assessment adjustments

Students requiring support or adjustments for their formal assessments task or exams should contact Equitable Learning Services (ELS)Links to an external site., for more information on the types of adjustments provided, access RMIT adjustments to assessmentLinks to an external site..

Special consideration

If unexpected circumstances affect your ability to complete an assessment you can apply for special consideration. For more information access RMIT special considerationLinks to an external site..

Appeals

As an RMIT student you are entitled to seek a review of decisions that impact on your studies. For more information access RMIT appealsLinks to an external site..

Marking Guide (Competency):


You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying. You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.

Course Overview: Access Course Overview