Abstract

This subject presents concepts dealing with more complex financial accounting issues in an international context. Students will explore consolidated financial reporting and account for the impacts of foreign currency translations and transfer costs across international borders. The subject will also consider the impacts of related-party international dealings from a social … For more content click the Read More button below.

Syllabus

Introduction to business combinationsConsolidation principles and accounting requirementsConsolidation: intra-group transactionsConsolidation: non-controlling interestsAccounting for investments in associates and joint venturesAccounting for foreign currency transactionsTranslation of foreign entity financial statementsAnalysis and interpretation of financial statementsInternational transfer pricing strategies

Learning outcomes

Upon successful completion of this subject, students should:
1.
be able to explain the relationships that exist between a parent company and its subsidiary(ies), an investor and its investee, a company and its overseas subsidiaries;
2.
be able to prepare accounts for each of the above-mentioned business combinations in accordance with relevant professional and statutory reporting requirements;
3.
be able to discuss the relevant accounting standards and statutory reporting requirements for foreign currency dealings and segment reporting; and
4.
be able to critically assess and report upon the information contained within published financial statements.

Enrolment restrictions

Not available to students who have completed ACC322.