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AFC3220 - Comparative international financial reporting

6 points, SCA Band 0 (NATIONAL PRIORITY), 0.125 EFTSL

Undergraduate Faculty of Business and Economics


Clayton Second semester 2009 (Day)


An understanding of the dynamic nature of financial reporting frameworks in different countries with an emphasis on the Asia-Pacific region and the influence of the International Accounting Standards Board. Major topics are: the influence of cultural and social values on reporting; comparison of the financial reporting systems and practices in such harmonisation and the IASB's role; and audit implications of international financial reporting.


The learning goals associated with this unit are to:

  • critically evaluate theories relating to the comparative study of financial reporting practices in diverse countries
  • compare and contrast the main international financial reporting systems and practices, and critically evaluate the need for harmonisation
  • identify and explain the major contemporary international financial reporting issues and analyse their implications for comparative national reporting practices; harmonisation initiatives, and the activities of the International Accounting Standards Board
  • apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with comparative international financial reporting.


Within semester assessment: 30%
Examination (3 hours): 70%

Contact hours

Thirteen 2-hour lectures and twelve 1-hour tutorials





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