ACC382 Financial Accounting B (8)

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.

Subject Outlines
Current CSU students can view Subject Outlines for recent sessions. Please note that Subject Outlines and assessment tasks are updated each session.

No offerings have been identified for this subject in 2019.

Where differences exist between the Handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Accounting and Finance

Enrolment Restrictions

Bachelor of Business Studies students only. Not available to students who have completed ACC221, ACC320 or ACC322

Prerequisites

ACC222 or ACC282

Subject Relationships

ACC322 This subject is identical to ACC322, except for mode of delivery and method of assessment

Incompatible Subjects

ACC322

Learning Outcomes

Upon successful completion of this subject, students should:
  • recognise that corporate accounting operates in both a national and international environment;
  • be aware of the implications for accounting for corporate entities in an international environment;
  • be familiar with the form and content of Australian published corporate financial reports, viz., balance sheets, income statements, cash flow statements, interim reports and concise financial reports;
  • be able to demonstrate a detailed knowledge of relevant accounting standards and statutory reporting requirements in Australia for the following topics and be able to:
  • account for company income tax;
  • account for the acquisition of assets and other entities;
  • be able to prepare consolidated balance sheets and income statements for economic entities where there is 100% control; where a direct outside equity interest is involved; and, introduce the concept of indirect outside equity interest;
  • be able to account for foreign currency transactions;
  • be able to translate the financial statements of an overseas controlled entity which have been denominated in a foreign currency;
  • be able to prepare a consolidated statement of cash flows, including its accompanying notes for a parent and its controlled entities; and
  • be able to account for and prepare the financial report disclosures required for investments in associated companies.

Syllabus

This subject will cover the following topics:

Corporate financial accounting, in both the national and international environment. Accounting for company income tax. The form and content of published financial reports, including interim and concise reports. The economic entity and consolidated financial statements: acquisition, inter-entity transactions, direct outside equity interest, introduction to indirect outside equity interest, foreign currency transactions, translation of foreign currency financial statements, and consolidated statement of cash flows. Accounting for associates.

Contact

Current Students

For any enquiries about subject selection or course structure please contact Student Central or ask@csu.edu.au or phone on 1800 275 278.

Prospective Students

For further information about Charles Sturt University, or this course offering, please contact info.csu on 1800 334 733 (free call within Australia) or enquire online.

The information contained in the 2019 CSU Handbook was accurate at the date of publication: September 2018. The University reserves the right to vary the information at any time without notice.

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