MACQUARIE UNIVERSITY

ACCG2024: Financial Accounting and Reporting

Final Examination Guide and Notes 2023

Part 01. About This Guide

Part 02. Sample Final Examination Paper

Part 03. Suggested Solutions to Final Exam Paper

Part 04. Final Examination - Hints and Tips

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Macquarie University - ACCG2024: Financial Accounting and Reporting

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ACADEMIC YEAR 2022 - 2023

University	Macquarie University
Study Level	Undergraduate
Unit Code	ACCG2024
Unit Name	Financial Accounting and Reporting
Guide Title	Final Examination Guide and Notes
Page Length	37

This guide will help you understand the structure, likely style, and range of questions for the ACCG2024: Financial Accounting and Reporting final examination at Macquarie University in 2023. The self-study set has been revised to incorporate the most recent updates from the latest edition of the exam. It contains sample exam questions accompanied by a detailed answer guide to help you understand question styles and identify priority topics for review as you prepare. It also provides essential information about the exam format, content coverage, and key concepts to focus on during your studies. Students appreciate invaluable tips on reading questions, overcoming test anxiety, and avoiding common pitfalls, which foster greater confidence.

This unit builds on first year accounting units, exploring financial reporting environment in greater depth and challenging students to question the foundations of financial reporting. Areas and topics within International Financial Reporting Standards (IFRS) and its Australian equivalents Australian Accounting Standards Board (AASB) are reviewed. On the completion of this unit, students will be familiar with the regulatory environment for financial reporting, be able to apply relevant accounting standards to key business processes, prepare a complete set of financial statements based on both accrual and cash accounting, describe the alternative reporting frameworks such as the Global Reporting Initiative (GRI and be able to show the accounting entries for company financing.

Topics:

Introduction to the Regulatory Environment and Conceptual Framework
Introduction to Financing a company - Equity and Debt Financing
Accounting for Income Tax
Accounting for Property, Plant and Equipment
Accounting for Intangibles
Accounting for Impairment
Accounting for Leases
Revenue Recognition and Statement of Comprehensive Income
Statement of Financial Position, Statement of Changes in Equity and Disclosures
Accounting Policies, Estimates and Errors
Accounting Theory and its impact on accounting policy choices
Statement of Cash Flows - Overview and Direct Method Notes and Limitations
Statement of Cash Flows - Indirect Method
Alternative Reporting Frameworks

UNIT CODE	UNIT NAME
ACCG1000	Accounting in Society
ACCG1001	Accounting and Governance
ACCG2000	Management Accounting
ACCG2024	Financial Accounting and Reporting
ACCG2051	Business and Corporations Law
ACCG3008	Corporate Accounting and Business Advisory
ACCG3020	Taxation Law and Practice
ACST1001	Finance 1A
ACST2001	Financial Modelling
AFIN2050	Investments
AFIN3029	Derivative Instruments
AFIN3053	Advanced Corporate Finance
AFIN3052	Applied Portfolio Management
ECON1020	Principles of Economics 1
ECON2003	Microeconomic Analysis and Applications
ECON2004	Macroeconomic Analysis and Applications
ECON2032	Econometric Principles
ECON2041	Introductory Econometrics
ECON3033	Econometric Methods
ECON3061	Economic and Business Forecasting
MGMT1002	Principles of Management
MKTG1001	Marketing Fundamentals
STAT1250	Business Statistics
STAT1371	Statistical Data Analysis
WSTA1250	Business Statistics

Macquarie University - ACCG2024: Financial Accounting and Reporting

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