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.

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Welcome to Ethics and Governance - Module 4: Governance in Practice! This podcast episode provides a deep dive into the practical application of governance principles in real-world scenarios. It covers board functions and analyzes corporate failures. Key areas include director and executive accountability (e.g., two strikes rule, disqualification), and audit integrity. The episode also details comprehensive regulatory compliance spanning market conduct, competition law, consumer protection, employee rights, and data privacy. It emphasizes governance's holistic, evolving nature for stakeholder protection and market integrity.

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.

Welcome to Ethics and Governance - Module 3: Governance Concepts! This episode bridges ethical theory with practical governance, exploring how organizations are structured and overseen. We detail key director duties—from avoiding conflicts of interest to preventing insolvent trading—and the real personal liability they carry. Delve into agency theory, explaining concepts like information asymmetry and moral hazard, and how robust governance mechanisms like independent boards and audit committees address them. We also contrast international governance approaches and highlight its relevance beyond traditional corporations to not-for-profit and public sector entities. Essential for your professional exams and cultivating ethical leadership.

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 a deep dive into Ethics and Governance - Module 2! This episode goes beyond mere theory, emphasizing that ethics is absolutely foundational for every practical decision in your accounting career and critical for building and maintaining public trust. We explore how professional ethics is an unwavering commitment to act in the public interest, rather than just complying with rules.

Learn to navigate tough 'right versus right' dilemmas using Dr. Rushworth Kidder's framework. We unpack the APS 110 Code of Ethics, focusing on its five fundamental principles: integrity, objectivity, professional competence and due care, confidentiality, and professional behavior. Discover the conceptual framework (identify, evaluate, address threats), and common threats like self-interest, self-review, advocacy, familiarity, and intimidation. Hear about real-world breaches and the importance of ethical courage in challenging organizational cultures. This deep dive is essential for both nailing your CPA exam and applying these principles in your professional life.

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 1' deep dive, your shortcut to mastering CPA Australia exams and being well-informed! This episode explores Module One: Accounting and Society (pages 3-42), distilling essential insights for your ethical and professional journey.

Understand the bedrock of the accounting profession, its crucial societal role, and inherent ethical responsibilities. We unpack the implied social contract between accountants and society, built on trust, and the constant challenge of prioritizing public interest over self-interest.

Discover the eight defining attributes of a profession and why integrity is paramount. Learn from the profession's credibility crisis (Enron, WorldCom, HIH) and the shift to co-regulation for enhanced trust. This deep dive lays a resilient, ethical foundation for your career, preparing you for complex real-world scenarios and exam success. Subscribe now for more essential insights!

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.

Feeling overwhelmed by complex business topics? This is the first episode in our Ethics and Governance series, designed to give you a comprehensive overview and a roadmap for this critical subject. It's essential for anyone making decisions that affect organizations or society. We tackle why trust is foundational yet often challenged, exploring how ethical breakdowns lead to greater oversight.

You’ll gain analytical skills and decision-making tools, from applying the CPA 110 Code of Ethics in real-world dilemmas like greenwashing, to understanding corporate governance structures, board diversity, and risk management. We also expand on corporate accountability, covering sustainability and ESG factors, crucial for long-term value beyond financials. Tune in to explore how these principles translate into real consequences and empower you for genuine ethical leadership.

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.