Accounting

This subject introduces students to the nature of accounting and its role in both financial markets and within organisations. Topics covered provide an overview of key financial and management accounting concepts and include: the constituent elements of financial statements; recognition, measurement and disclosure issues in the preparation of financial statements; accounting policy choices available to managers for key assets and incentives associated with policy choices; the analysis and interpretation of financial statement data; the use of accounting information within organisations to support managerial planning, control and decision making. The coverage and treatment of material in this course is specifically designed to meet the needs of undergraduate students from all disciplines. The focus is on the informed use of accounting information rather than the preparation of accounts.

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Whether you’re buying your groceries, returning a faulty product, or mowing the lawn for your neighbour, law is always in the background, shaping what you and others you can do, and what happens when things go wrong. Principles of Business Law gives you some of the basic tools to understand the legal landscape of the world of legal transactions, and how law affects everyday decisions.

This subject offers a broad introduction to law from a business perspective, designed for students from all disciplines. You’ll explore the nature and purpose of law, how laws are made, how they evolve, and how they’re enforced. You’ll learn to read and interpret legislation and case law, and apply them to practical, real-world situations.

Key topics include how legally binding contracts are formed (and what happens when they’re broken), consumer protection, property law, negligence and liability in tort, and the law of agency. Along the way, you’ll build essential legal literacy that will help you spot issues, assess risks, and make informed decisions, whether you're working in a business, protecting your rights as a customer, or simply navigating adult life.

No prior legal knowledge is required. This subject is an ideal starting point for students curious about the law or looking to build foundational knowledge that supports other fields like commerce, engineering, science, and the arts.

• Principles of Business Law is a prerequisite for Corporate Law (BLAW20001) and Taxation Law I (BLAW30002).
• The course is delivered online and partly on campus, with a compulsory on-campus final exam at the end of semester.
• Principles of Business Law is open to and recommended for students from all faculties as a Level 1 Breadth subject.

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This subject explores the design and implementation of cost management systems in a variety of organisational contexts. As well as emphasising technical expertise in the development of these systems, this subject also considers the use of cost system information in management decision making, specifically for the purposes of effective management of organisational resources and the creation of customer and shareholder value.

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The purpose of this subject is to equip students in the methods of recording and reporting transactions in accounting systems to enable informed decision making by external stakeholders.  The focus is on the judgments and decisions accountants make in the preparation of financial reports for markets and society.  This is underpinned by the principles of the Conceptual Framework for accounting, the contents of accounting standards and the reporting environment.  Through an examination of contemporary debates and developments in reporting, students will explore the competing interests in financial reporting judgments, and the implications for the interpretation of accounting reports.

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Companies are everywhere—and most of us interact with them every day, often without even realising it. With more than 2.8 million active companies in Australia, they play a huge role in shaping our daily lives.

From the public transport that gets you to University, to your mobile phone provider, your go-to coffee spot, and even the social media apps on your phone—most likely, companies are behind them all. They’re the engines of modern life, quietly powering the world around us.

But here’s the twist: in the eyes of the law, companies aren’t just organisations—they’re people… sort of. Legally, they’re artificial legal persons, meaning they can enter into contracts, sue and be sued, own property, and carry legal responsibilities, just like you and me. And the people behind these companies—directors, shareholders, executives—are bound by a complex web of duties and obligations.

When directors fail to meet these duties, the consequences can be severe. Breaches may result in disqualification, financial penalties, and in some cases, even criminal prosecution and imprisonment.

In this subject, you’ll explore the legal rules that govern Australian companies: how they’re formed, structured, managed, financed, and eventually brought to an end. You’ll also understand the rights and responsibilities of those who control companies—and how the law tries to keep corporate power in check.

Whether you’re heading into legal practice, business, or any field where companies play a role, this subject offers essential knowledge that will equip you for the realities of the professional world. It’s particularly valuable for students preparing to enter the legal profession, where a sound understanding of corporate structures and accountability is indispensable.

Indicative list of principal topics:

• the incorporation process and its consequences;
• the regulation on company shareholders and directors and their effects on those who deal with companies;
• the internal composition of companies i.e., who are the people behind the corporate entity (such as shareholders, directors, secretaries);
• how companies can enter into contracts with outsiders and what the outsiders can assume when dealing with company participants;
• the duties and liabilities of company directors and other offers and what consequences they face under law if they do the wrong thing;
• The actions and remedies you can take against a company if you have been wronged or harmed by the company or its participants.

This subject is designed to assist and add valuable knowledge to students from all faculties.

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The subject is a capstone subject in accounting. The subject is designed to teach the underlying concepts and applied contemporary techniques that enable the users of financial reports to assess the performance of a firm, value a firm and evaluate its managers. The course is seen as an extension and integration of both accounting and the also the finance, economics and statistics subjects you studied earlier in your degree. The applied concepts taught will be useful to students in practice both as preparers and as users.

The objective of this course is to equip students with both the concepts and techniques to be able to: (a) understand that information is imperfect and be able to understand the determinants of bias and random errors in information (b) use financial reports to assess the level and drivers of firm performance; (c) value firms and (d) consider whether markets are efficient in the use of information and if regulation over the production of external financial reports (and other information) is required.

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This subject focuses on a range of strategic performance management control system issues including performance measurement, incentives, reward systems and risk; profit analysis; planning and budgeting; and, strategic investments. These issues are explored in a number of different organisational settings and relationships.

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Topics include the rationale for auditing; auditing standards; audit objectives, concepts and procedures; audit techniques including statistical sampling and the audit of computer-based accounting systems; audit reports; the legal liability of auditors; the professional and ethical responsibilities of auditors; the statutory responsibilities and rights of auditors; contemporary auditing problems; and consideration of how research informs these auditing topics.

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This subject provides the capstone course in business financial analysis and firm valutaion. The subject will include a detailed analysis of a firm's business strategy, financial statements and additional disclosures to assess the quality, profitability, risk, future prospects and value of the firm.

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The subject examines current and emerging topical areas within accounting research. Specific topics may be drawn from any area of contemporary developments in accounting research (e.g., financial, managerial, audit, systems).

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The subject explores a contemporary accounting issue arising from a socio-economic event through an international study program. Students are first briefed on financial and management accounting research on the issue chosen for the program. The students then visit a number of major corporate, regulatory and standard-setting institutions in either the U.S.A (July program) or Europe (January program) depending on the semester.

There, top-level executives present their organisations’ perspective on the issue and other current issues affecting the organisation. Students engage with them to explore how their pre-departure prepared research-based project is reflected in practice as observed during the respective site visits.

On their return, students undertake a reflective analysis of research and their experiences. A key requirement is that students comport themselves professionally throughout the course.

Note: Travel and accommodation costs will be borne by the student. Students must be eligible to obtain visitor visas in the country where the subject is conducted.

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Diverse stakeholders are increasingly demanding information about the broader social, environmental, and governance (ESG) dimensions of organisations’ actions. The subsequent use of such information in decision-making is complex because it tends to be non-financial in nature. In addition, disclosure of information related to ESG leads firms to become more accountable along these dimensions. This course will introduce issues associated with organisational incentives to become more sustainable, reporting of ESG information to stakeholders, and use of ESG information for internal and external decision-making. At a broader level, the course will help students to develop their critical thinking and analytical skills as applied to a setting that is becoming increasingly important to business and society.

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The purpose of this subject is to explore the dynamic and evolving landscape of financial reporting, focusing on current challenges and emerging trends. The subject builds from a comprehensive examination of the institutional environment shaping financial reporting practices, encouraging students to critically analyse the complex interplay between regulatory bodies, standard-setters, and reporting entities. A focus of the subject is on evaluating contemporary developments in reporting from a variety of stakeholder perspectives. The subject equips students to participate in current debates and developments in reporting and to apply an array of accounting standards in the preparation of financial reports that are useful to interested users.

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This subject considers business fraud and forensic processes from an accounting perspective. The subject introduces students to various types of fraud, considering recent trends in fraudulent business activities both within Australia and globally. Regulatory requirements and best practice procedures for the design of fraud management (prevention) programs are considered and the latest in fraud detection methods (with an emphasis on information technology tools) are evaluated. The subject also considers the role of accounting in fraud and other business forensic investigations in the context of the Australian legal framework including: methods for obtaining and controlling evidence; conducting investigations; quantifying loss and damage; and the presentation of evidence in court as an expert witness.

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The purpose of this subject is to explore the transformative impact of digital technologies on accounting practices and organisational dynamics. Students will examine how digital tools reshape control, decision-making, and reporting processes within organisations, and analyse the intricate relationship between accounting information systems and organisational structure and strategy. Students will examine a range of contemporary and emerging technologies and be equipped to evaluate appropriate strategies for the digitalisation of accounting information systems, business processes and decision-making in organisations.   The focus will be on creating business value while appropriately balancing ethical, governance and risk concerns in the transformation toward data-driven organisations.

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Why care about tax?

Tax affects everything that you do in life. Whether you’re earning your first paycheck, running a side hustle, buying property, or investing in shares – tax matters. Understanding how tax works in Australia is both useful and empowering. In this video we explain why this is one of the most useful and interesting subjects at university.

Principles of Taxation Law 1 introduces you to the fundamentals of the Australian tax system. You will learn about your responsibilities as a taxpayer, what amounts are subject to tax, what expenses can be claimed as a deduction to reduce the tax that you pay, and how the GST works.

Why Take This Subject?

• Practical Life Skills: Learn things every adult needs to know (but most don’t).
• Career Edge: Tax knowledge is a must-have for careers in accounting, business, finance, law, and entrepreneurship.
• Problem Solving: Apply tax concepts to real-world scenarios.
• Make Sense of the System: Understand how tax affects society, inequality, and government policy.
• Avoid Costly Mistakes: Understand your rights and obligations as a taxpayer.

This subject does not assume and does not require an accounting or commercial background. Mathematical skills are also not required.

Completion of BLAW30002 Principles of Taxation Law 1 and BLAW30003 Principles of Taxation Law 2 satisfies the requirements for a Tax Practitioner Board ‘approved course in Australian taxation law’ under the ‘mix and match’ approach. Refer to www.tpb.gov.au for further information.

Prospective students will be interested in this introduction to the subject from the Subject Coordinator.

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