Welcome to Financial Reporting – Module 2: Presentation of Financial Statements! In this episode, we move from “why” to “how,” focusing on how a complete set of financial statements is structured and presented so users can actually interpret the story the numbers tell.

We’ll break down the primary statements and what must appear in each: the Statement of Financial Position; the Statement of Profit or Loss and Other Comprehensive Income (single or two-statement approach); the Statement of Changes in Equity; the Statement of Cash Flows; and the Notes. Along the way, we’ll unpack core presentation principles—fair presentation and IFRS compliance, going concern, accrual basis, materiality and aggregation, no offsetting (unless permitted), consistency, and comparative information.

You’ll learn the mechanics that matter in practice: current vs. non-current classification (and when a liquidity presentation makes sense), required line items and subtotals, how OCI differs from profit or loss (and when reclassification adjustments apply), what belongs in accounting policies, and how to disclose key judgments and estimation uncertainty. We’ll also flag common pitfalls—unusual items and non-GAAP/alternative performance measures, rounding and comparatives, and presentation considerations for discontinued operations and EPS.

By the end, you’ll be ready to assemble—and critically assess—a compliant, decision-useful set of financial statements. Let’s dive in.

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

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Welcome to Financial Reporting – Module 1: The Role and Importance of Financial Reporting! In this kickoff episode, we set the foundation for the whole course by asking a simple question: What is financial reporting for—and why does it matter? We’ll explore how financial statements serve investors, lenders, and other stakeholders by providing decision-useful information, and how stewardship and accountability underpin that purpose.

We’ll walk through the financial reporting ecosystem—standard-setters, regulators, auditors, and management—and introduce the conceptual framework: qualitative characteristics (relevance, faithful representation, comparability, verifiability, timeliness, understandability), the elements of financial statements, and the constraints of materiality and cost–benefit. You’ll also hear about common limitations of financial reports (think historical cost, estimates, aggregation, and timeliness) and why notes and disclosures are critical to telling the full story.

By the end, you’ll see how reliable, transparent reporting supports efficient capital markets and sound governance—and where financial reporting sits alongside emerging topics like sustainability information. This episode lays the groundwork for everything that follows in the series. Let’s dive in.

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

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Welcome to Ethics and Governance - Module 5: Corporate Accountability! Today, we're plunging into a critically important and rapidly evolving area: corporate accountability. This entire deep dive is dedicated to Module 5 of ethics and governance, exploring how the very idea of a corporation's responsibilities has dramatically expanded over time. It’s moved far beyond purely financial returns and shareholder wealth to encompass broader social and environmental impacts, acknowledging an implied social license to operate.

We’ll peel back the layers, looking closely at the inherent limitations of traditional financial reporting, which are fundamentally narrow and primarily geared towards capital providers, often missing crucial long-term social and environmental factors. We'll identify the powerful forces driving this paradigm shift, from evolving societal expectations and increasing stakeholder activism to new global sustainability reporting standards. Join us as we unpack the compelling reasons why organizations are engaging in this broader accountability, giving rise to concepts like Corporate Social Responsibility (CSR), Corporate Sustainability, and ESG reporting, and the pivotal role accountants play in shaping this new era of governance for a more sustainable future

This marks the final episode of the full walkthrough of the Ethics and Governance study guide! Stay tuned for more podcasts on other subjects!

Disclaimer: This podcast, CPA Australia Exam Guide, is not affiliated with, endorsed by, or sponsored by CPA Australia. All content provided is for general educational and informational purposes only and does not constitute professional advice or official study materials for the CPA Australia Program exams. We respect the intellectual property and copyrights of CPA Australia and strive to comply with all applicable laws. Any references to CPA Australia’s syllabus, study guides, or exam structure are based on publicly available information and are used solely to support candidates’ independent study efforts under fair use principles. Listeners are encouraged to consult CPA Australia’s official resources, available at www.cpaaustralia.com.au, for authoritative guidance. The podcast creators assume no liability for any errors, omissions, or reliance on the content provided. By listening, you agree to use this content at your own risk.

Hosted on Acast. See acast.com/privacy for more information.