ACC322 Company Accounting (8)
Prerequisite: ACC222
Enrolment Restriction: Not available to students who have completed ACC221 Corporate Accounting or ACC320 Financial Accounting 2.
Not available to students who have completed ACC382.
Not available to students who have completed RMBU3644.
In the context of the internationalisation of accounting this subject deals with the corporate form of business organisation, the form and content of corporate financial statements, and how to account for: taxation of company profit; acquisition of another entity; and expansion into an economic entity (parent-controlled entity; and investor-investee relationships). Consolidations, including acquisition analysis and fair value adjustments; the elimination of inter-entity transactions, direct minority interest recognition and an introduction to indirect minority interest are studied. Foreign currency transactions and translation of foreign currency financial statements are also covered in the subject.