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No offerings have been identified for this subject in 2018

ACC590 Financial Accounting and Reporting (8)

Abstract

This subject builds upon the introduction to financial accounting provided in ACC566. The major focus is on company accounting requirements including corporate external reporting practices; the analysis and interpretation of financial statements; accounting for different forms of business combinations, including parent-subsidiary relationships and associated companies; and foreign currency translation. This subject serves as an introduction to the 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 ACC566.

+ Subject Availability Modes and Location

Continuing students should consult the SAL for current offering details prior to contacting their course coordinator: ACC590
Where differences exist between the handbook and the SAL, the SAL should be taken as containing the correct subject offering details.

Subject information

Duration Grading System School:
One sessionHD/FLSchool of Accounting and Finance

Assumed Knowledge

ACC566

Enrolment restrictions

Postgraduate students only. Not available to students who have completed ACC514, ACC516 or ACC567.
Incompatible subject(s)Related subject(s)
ACC514 ACC516 ACC567 ACC514 Overlapping content.
ACC567 Overlapping content.
ACC516 Overlapping content.

Learning Outcomes

Upon successful completion of this subject, students should:

- have extended their technical competency in financial accounting to enable them to prepare basic financial statements for companies;

- be able to discuss the statutory and professional requirements upon which published financial statements are based;

- be able to critically assess and report upon the information contained within published financial statements;

- 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.

Syllabus

The subject will cover the following topics:

- Accounting for the formation and operation of companies (including reference to relevant legal, professional and stock exchange reporting requirements);
- Form and content of accounts, including the balance sheet, income statement, statement of owner's equity and statement of cash flows as per statutory and other requirements;
- The analysis and interpretation of company financial statements, and the communication of the results of such analyses in appropriate report form to internal and external users.

- Accounting for company combinations (Consolidated Financial Statements including intercompany transactions, minority interest, translating foreign financial statements, consolidated cash flow statements)
- Accounting for Associates.

Residential School

This subject contains a compulsory 3 day residential school. The primary objectives of the residential school are: to provide an interactive face to face 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 discussed and placed in context.

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The information contained in the 2018 CSU Handbook was accurate at the date of publication: 20 October 2017. The University reserves the right to vary the information at any time without notice.