2014 Unit of Study
The session(s) below are for 2014. For Summer School 2014 unit of study availability please visit the Summer School website (main Summer session January/February 2014).
The University of Sydney session calendar shows exact dates for sessions.
|Financial Accounting B|
|Offered||Semester 1 and Semester 2|
|Prerequisites||ACCT2011 or ACCT2001|
|Lectures||1x2hr lecture and 1x1hr tutorial per week|
|Assessment||Mid-semester examination (30%), group presentations (10%), individual assignment (10%), and final examination (50%)|
|Description||This unit introduces students to accounting for investments in entities that are controlled, significantly influenced, or jointly controlled by the investor. The first part of the unit focuses on assessing whether an investment should be consolidated, the process of consolidation, the preparation of consolidated financial statements for corporate groups, including the treatment of goodwill, intra-group transactions and non controlling interests. Other aspects of group accounting, such as equity accounting, segment disclosures, related party disclosures, and accounting for joint operations are investigated. The first part of the unit concludes with a critical analysis of group accounting, including the outcomes of related processes, and the impact on users. The second part of the unit focuses on critically evaluating current issues in accounting regulation and practice, such as the politics of the standard-setting process, using accounting for financial instruments as a special case. Finally, voluntary disclosures for social and environmental reporting are considered. This unit aims to further develop students' written communication skills and critical and analytic skills within the context of corporate group activities.|