ACC567 Financial Accounting 2 (8)
CSU Discipline Area: Accounting (ACCOU)
Duration: One session
Abstract:
This subject deals with the accounting and reporting requirements of corporations set down by legislation and the professional accounting bodies in Australia. It follows on from ACC514 Financial Accounting, concentrating on accounting for different forms of business combinations, including parent-subsidiary relationships, foreign subsidiaries, and associated companies. This subject serves as an introduction to the many more advanced aspects of financial reporting to be continued in ACC518 Current Developments in Accounting Thought. Assumed knowledge is consistent with that normally covered in ACC514.
+ Subject Availability Modes and Locations
| Session 1 | |
|---|---|
| Internal | CSU Study Centre Melbourne |
| Internal | CSU Study Centre Sydney |
| Internal | Wagga Wagga |
| Distance * | Wagga Wagga |
*This subject offering contains a residential school. Please view following information for further details.
Continuing students should consult the SAL for current offering details: ACC567
Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.
Enrolment restrictions:
Postgraduate students only. Not available to students who have completed ACC516 .
Objectives:
Upon successful completion of this subject, students should:
- 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;
- be able to prepare accounts for each of the above-mentioned business combinations in accordance with relevant professional and statutory reporting requirements; and
- be able to discuss the relevant accounting standards and statutory reporting requirements for foreign currency dealings, segment reporting, leases, after-balance date events, and disclosures of financial statement items.
Syllabus:
The subject will cover the following topics:
- Accounting for Company Combinations Consolidated Financial Statements (intercompany transactions, outside equity interest, translating foreign financial statements, consolidated cash flow statements) Accounting for Associates Accounting for Foreign Dealings. - Other Reporting Requirements for All Reporting Entities The Nature of Financial Reporting, Recognition Issues After Balance Date Event Disclosure Disclosure of Financial Statement Items Segment Reporting Accounting for Leases - Special Standards for Special Industries Intangibles (including Research and Development) Long-term Construction Contracts
Residential School
This subject contains a compulsory 3 day residential school.
The primary objectives of the residential school are: to provide a learning environment, to answer student questions about the subject and to assist students to focus their studies for the remainder of the session. Staff at the residential school will review the subject material covered up to that date and outline the remaining topics. Subject readings will be placed in context and the format and scope of the final examination will be outlined.
The information contained in the 2013 CSU Handbook was accurate at the date of publication: 24 April 2013. The University reserves the right to vary the information at any time without notice.