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 standards, this subject deals with accounting issues relevant to the corporate form of business organisation. Issues explored include the form, content and preparation of published financial reports; how to apply the tax-effect method of accounting for company income taxes; how to account for the establishment of a business combination; and how to apply the equity method of accounting for an investment in an associate. The nature of a parent-subsidiary relationship and the preparation of consolidated financial statements are examined in detail. Accounting for foreign currency transactions and the translation of foreign currency financial statements are also covered in this subject.