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Financial Accounting B

ACCT3011

This unit introduces students to accounting for investments in entities that are controlled or significantly influenced 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 segment disclosures and related party disclosures, are investigated. The first part of the unit concludes with a critical analysis of the consolidation process, including the outcomes of the consolidation process and the impact of this upon the user of the consolidated financial statements. 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.

Unit of study details

Unit of study level: Senior

Credit points: 6

Commencing semesters: 1, 2

Further unit of study information

Unit of study handbook: ACCT3011

Costs and scholarships information: Costs and Scholarships

Final dates to withdraw from units of study: Census Dates

Available for study abroad and exchange: Yes

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