ACC394 Accounting in a Global Environment (8)

This subject presents concepts dealing with more complex financial accounting issues 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.

No offerings have been identified for this subject in 2021.

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



One session


School of Accounting and Finance

Enrolment Restrictions

Not available to students who have completed ACC322.



Subject Relationships

ACC322 Overlapping content.

Incompatible Subjects


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 and segment reporting; and
  • be able to critically assess and report upon the information contained within published financial statements.


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: May 2021. The University reserves the right to vary the information at any time without notice.