Company Accounting

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Abstract

This subject builds on the financial reporting skills and knowledge gained in successful completion of ACC222 External Reporting. The subject is designed to prepare students for sought after financial reporting roles in both business and practice. A range of challenging financial reporting topics including accounting for company income tax, consolidating … For more content click the Read More button below.

This subject builds on the financial reporting skills and knowledge gained in successful completion of ACC222 External Reporting. The subject is designed to prepare students for sought after financial reporting roles in both business and practice. A range of challenging financial reporting topics including accounting for company income tax, consolidating financial statements, and accounting for foreign currency transactions and translations will be presented in this subject.

Syllabus

accounting for company income tax;business combinations;consolidated financial statements - method, acquisition and business combination valuation;consolidated financial statements 2 - intragroup transactions;consolidated financial statements 3 - non-controlling interests;consolidated financial statements 4 - cash flow statements;accounting for investments in associates;foreign currency transactions; andtranslation of Foreign Currency Financial Statements.

accounting for company income tax;
business combinations;
consolidated financial statements - method, acquisition and business combination valuation;
consolidated financial statements 2 - intragroup transactions;
consolidated financial statements 3 - non-controlling interests;
consolidated financial statements 4 - cash flow statements;
accounting for investments in associates;
foreign currency transactions; and
translation of Foreign Currency Financial Statements.

Learning outcomes

Upon successful completion of this subject, students should:

be able to compute and account for company income tax;

be able to prepare consolidated financial statements for economic entities where the parent has a 100% ownership interest in subsidiary and where a non-controlling interest is involved;

be able to account for foreign currency transactions;

be able to translate the financial statements of an overseas controlled entity which have been denominated in a foreign currency; and

be able to account for and prepare relevant financial report disclosures in relation to investments in associates and business combinations.

Assumed knowledge

Nil

Enrolment restrictions

Pre-requisite

Incompatible