THE UNIVERSITY OF NEWCASTLE 
ACCT2003: Financial Accounting and Reporting 
Final Examination Guide and Notes 2026 
 
 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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ACCT2003: Financial Accounting and Reporting (Solutions) [UoN]

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ACADEMIC YEAR 2025 - 2026

University	University of Newcastle
Study Level	Undergraduate
Course Code	ACCT2003
Course Name	Financial Accounting and Reporting
Notes Title	Final Examination Guide and Notes
Format	PDF
Page Length	38

Studying ACCT2003: Financial Accounting and Reporting at the University of Newcastle? This comprehensive guide focuses your revision on the topics most likely to appear in the final exam. It breaks down exactly what the exam tests, what high-scoring answers look like, and how to avoid common pitfalls. You’ll get exam-style questions with fully worked solutions, step-by-step workings, and clear explanations, so you can see how to set out your method and maximise your marks. Use these notes as a practical reference to strengthen your understanding of each topic and improve your performance in the exam.

Financial Accounting and Reporting develops two main themes for students. Firstly, it introduces various accounting standards and accounting policy choices. Secondly, it investigates applied issues in financial accounting. Students develop extended accounting knowledge and skills to generate external financial reports in accordance with International Financial Reporting Standards (IFRSs).

✔ Topics:

The Conceptual Framework for Financial Reporting
Accounting for Non-current Assets
Accounting for Intangible Assets
Impairment Losses
Contingent Liabilities and Provisions
Revenue Recognition
Accounting for Leases
Preparation of External Financial Reports
Other Disclosure Issues
Accounting for Income Taxes

✔ Upon completion of this course, students will be able to:

Apply International Financial Reporting Standards (IFRSs) and other relevant standards to accounting transactions and events.
Apply relevant accounting standards in the preparation of financial statements for reporting entities.
Explain and analyse contemporary accounting issues within the profession.
Analyse and evaluate accounting practice, choices, and decisions.

COURSE CODE	COURSE NAME
ACFI1001	Accounting for Decision Makers
ACFI1002	Accounting Practice
ACFI1003	Introduction to Finance
ACFI2003	Management Accounting
ACFI2012	Accounting for Corporate Entities
ACFI2070	Business Finance
ACFI2080	Corporate Finance
ACFI3004	Taxation
ACFI3018	Portfolio Management
ACFI3130	Derivative Securities
ECON1001	Microeconomics for Business Decisions
ECON1002	Macroeconomics in the Global Economy
ECON1003	Basic Econometrics and Quantitative Modelling
ECON2001	Intermediate Microeconomics
ECON2004	Money and Banking
LEGL1001	Foundations of Law
MKTG1001	Foundations of Marketing
MNGT1001	Introduction to Management
STAT1060	Business Decision Making
STAT1070	Statistics for the Sciences

Updated for 2026

ACCT2003: Financial Accounting and Reporting (Solutions) [UoN]

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