ACC322 Company Accounting (8)

This subject builds on the financial reporting skills and knowledge gained in successful completion of ACC222 External Reporting. The subject is designed to prepare students for sought after financial reporting roles in both business and practice. A range of challenging financial reporting topics including accounting for company income tax, consolidating financial statements, and accounting for foreign currency transactions and translations will be presented in this subject.

Availability

Session 1 (30)
On Campus
Albury-Wodonga Campus
Bathurst Campus
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus
Wagga Wagga Campus
Online
Albury-Wodonga Campus
Session 2 (60)
Online
Albury-Wodonga Campus

Continuing students should consult the SAL for current offering details: ACC322. 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

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.

Prerequisites

ACC222

Subject Relationships

ACC320 Similar subject content.
ACC221 Similar subject content.
ACC382 Similar subject content.

Incompatible Subjects

ACC221, ACC320, ACC382

Learning Outcomes

Upon successful completion of this subject, students should:
  • be able to compute and account for company income tax;
  • be able to prepare consolidated financial statements for economic entities where the parent has a 100% ownership interest in subsidiary and where a non-controlling interest is involved;
  • 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; and
  • be able to account for and prepare relevant financial report disclosures in relation to investments in associates and business combinations.

Syllabus

This subject will cover the following topics:
  • accounting for company income tax;
  • business combinations;
  • consolidated financial statements - method, acquisition and business combination valuation;
  • consolidated financial statements 2 - intragroup transactions;
  • consolidated financial statements 3 - non-controlling interests;
  • consolidated financial statements 4 - cash flow statements;
  • accounting for investments in associates;
  • foreign currency transactions; and
  • translation of Foreign Currency Financial Statements.

Indicative Assessment

The following table summarises the assessment tasks for the online offering of ACC322 in Session 1 2019. Please note this is a guide only. Assessment tasks are regularly updated and can also differ to suit the mode of study (online or on campus).

Item Number
Title
Value %
1
Online tests
10
2
Review & problem questions
30
3
Final exam
60

The information contained in the CSU Handbook was accurate at the date of publication: July 2020. The University reserves the right to vary the information at any time without notice.

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