acct 3011 FINANCIAL ACCOUNTING B
UNIT
OF STUDY
This unit introduces students to accounting for investments in
entities that are controlled, significantly influenced, or jointly controlled
by the investor. The first part of the unit focuses on assessing whether an
investment should be consolidated, the process of consolidation, the
preparation of consolidated financial statements for corporate groups,
including the treatment of goodwill, intra-group transactions and non
controlling interests. Other aspects of group accounting, such as equity
accounting, segment disclosures, related party disclosures, and accounting for
joint operations are investigated. The first part of the unit concludes with a
critical analysis of group accounting, including the outcomes of related
processes, and the impact on users. The second part of the unit focuses on
critically evaluating current issues in accounting regulation and practice,
such as the politics of the standard-setting process, using accounting for
financial instruments as a special case. Finally, voluntary disclosures for
social and environmental reporting are considered. This unit aims to further
develop students' written communication skills and critical and analytic skills
within the context of corporate group activities.
Classes
1x2hr lecture and 1x1hr tutorial per week
Assessment
Mid-semester examination (30%), group presentations (10%),
individual assignment (10%), and final examination (50%)
Faculty/department
permission required?
No
you will learn too:
ACCT 300 Auditing and Assurance Services
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