University of Technology Sydney

22800 Understanding Accounting and Financial Reports

There are course requisites for this subject. See access conditions.
Anti-requisite(s): 220800 Accounting for Decision Makers AND 22747 Accounting for Managerial Decisions AND 22784 Accounting: Concepts and Applications



MBA students (including C11008 Graduate Certificate and C06009 Graduate Diploma) who intend to complete the MBA with Professional Accounting specialisation to meet CPA Australia and ICAA accreditation must substitute 22747 Accounting for Managerial Decisions in place of 22800 Understanding Accounting and Financial Reports via an e-Request.

Professional Accounting specialisation in the MBA includes the Professional Accounting (MAJ08988) major and Professional Accounting Extension (SMJ10161) sub-major.


This subject prepares students to be able to read and analyse accounting reports enabling the evaluation of historical business operations as well as facilitating the planning of a future business activity. Accounting information provides information for decision support to a diverse range of stakeholders, both inside the organisation (being management and board) and external (comprising shareholders, finance providers, government, customers, unions etc).

An understanding of accounting and the many information products generated by the accounting system is a fundamental requirement for business professionals as:

  • Accounting is the language of business and provides the financial measurement processes used in all forms of business, including for-profit, government and the not-for-profit sector.
  • Accounting processes are governed by a formal set of rules and regulations in the form of standards as well as legislative pronouncements that underpin the preparation and presentation of financial reports.
  • Knowledge of accounting enables the extraction and analysis of the information content of financial reports and provides the tools for the measurement and analysis of the operating, investing and financing activities of the business
  • Accounting information provides the foundation for analytical tools used to predict the future via the preparation of forecasts and budgets of future business activity.

Detailed subject description.

Access conditions

Note: The requisite information presented in this subject description covers only academic requisites. Full details of all enforced rules, covering both academic and admission requisites, are available at access conditions and My Student Admin.