ACC394 Accounting in a Global Environment (8)

This subject focuses on complex financial accounting concepts associated with group and other investment structures, and financial accounting in an international context. Students will explore consolidated financial reporting and account for the impacts of foreign currency translations and transfer costs across international borders. The subject will also consider the impacts of related-party international dealings from a social accountability perspective.

Availability

Session 2 (60)
Online
Albury-Wodonga Campus

Continuing students should consult the SAL for current offering details: ACC394. 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 Business

Enrolment Restrictions

Not available to students who have completed ACC322.

Prerequisites

ACC222 or ACC294

Subject Relationships

ACC322 Significant overlapping content

Incompatible Subjects

ACC322

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 and apply the relevant accounting standards and statutory reporting requirements to the recognition, measurement and disclosure of key financial statement elements associated with foreign currency dealings; and
  • be able to critically assess and report upon the information contained within published financial statements.

Syllabus

This subject will cover the following topics:
  • Introduction to business combinations
  • Consolidation principles and accounting requirements
  • Consolidation: intra-group transactions
  • Consolidation: non-controlling interests
  • Accounting for investments in associates and joint ventures
  • Accounting for foreign currency transactions
  • Translation of foreign entity financial statements
  • Analysis and interpretation of financial statements
  • International transfer pricing strategies

The information contained in the CSU Handbook was accurate at the date of publication: June 2022. The University reserves the right to vary the information at any time without notice.

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