ACC567 Financial Accounting 2 (8)

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.

Availability

Session 1 (30)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney
Online
Wagga Wagga Campus
Session 2 (60)
On Campus
CSU Study Centre Brisbane
CSU Study Centre Melbourne
CSU Study Centre Sydney
Port Macquarie Campus

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.

Subject Information

Grading System

HD/FL

Duration

One session

School

School of Accounting and Finance

Enrolment Restrictions

Postgraduate students only. Not available to students who have completed ACC516 or ACC590.

Prerequisites

ACC514

Subject Relationships

ACC590 Subjects have significant overlapping content.
ACC516 The subjects have significant overlapping content

Incompatible Subjects

ACC516, ACC590

Learning Outcomes

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;
  • be able to discuss the relevant accounting standards and statutory reporting requirements for foreign currency dealings, segment reporting, and leases; and
  • be able to critically assess and report upon the information contained within published financial statements.

Syllabus

This subject will cover the following topics:
  • Accounting for Company Combinations: Business Combinations, Consolidated Financial Statements (intercompany transactions, outside equity interest), Equity Accounting;
  • Accounting for Foreign Dealings: Foreign currency transactions and translating foreign financial statements;
  • Analysis and interpretation of company financial statements;
  • Accounting standards: Segment reporting, Accounting for Leases, Long term construction contracts.

Indicative Assessment

The following table summarises the assessment tasks for the online offering of ACC567 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
Assignment 1
10
2
Assignment 2
20
3
Peerwise
10
4
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.

Back