ACC382 Financial Accounting B (8)
Prerequisite: ACC222 or ACC282
Enrolment Restriction: Bachelor of Business Studies students only. Not available to students who have completed ACC221, ACC320 or ACC322
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, how to account for: taxation of company profits; acquisition of another entity; and expansion into an economic entity (parent-controlled entity; and investor-investee relationships). Consolidation, including the elimination of inter-entity transactions, direct outside recognition and an introduction to indirect outside equity interest are studied. Foreign currency transactions and translation of foreign currency statements are also covered in the subject.