ULO
Mapping)
Students are required to critically examine the usefulness of the financial reporting
regulations to Australian reporting entities, namely the Conceptual Framework and the
adoption of IFRSs. Additionally, they will have to research on another country that has
adopted IFRSs in the past 5 years. They will have to do research on relevant literature
and demonstrate understanding and critical evaluation of key issues of adopting IFRSs
such as the transitional issues, challenges and benefits, and recommend future
directions to the national accounting setting bodies (ULO 1, 2, 3, 4, 5, 6, 7).