Financial Reporting video lessons
6 short animated lessons for the CPA Australia Financial Reporting exam, each built around one case or one exam question. 1 is free to watch without an account; every lesson has its full transcript on its page.
About the Financial Reporting exam: format, module weights and sample questions
Module 3: Revenue; provisions and contingencies
10% of the exam
Module 4: Income taxes
18% of the exam
Module 5: Business combinations and group accounting
24% of the exam
3:10Episode 1
The Profit That Isn't There Yet
A parent sells $100,000 of stock to its subsidiary. Eliminate the whole sale, defer the profit still in inventory, then tax-effect it, worked step by step to the full consolidation entry.
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2:14Episode 2
The $7,500 Comes Back
The year after: rebuild last year's adjustment in opening retained earnings, release the profit through cost of sales, and see why direction matters once there is NCI.
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Module 6: Financial instruments
14% of the exam
Module 7: Impairment of assets
10% of the exam
Modules without a lesson yet
- Module 1: The role and importance of financial reporting · 10%Practice questions
- Module 2: Presentation of financial statements · 14%Practice questions