This unit of study prepares students to report on the performance and financial status of group entities where investees are either controlled, significantly influenced, or jointly controlled entities. Students consider where a consolidated financial report is necessary, before learning how to prepare a consolidated financial report, including the treatment of goodwill, intra-group transactions and non-controlling interests. Aspects of consolidated reports, such as equity accounting, segment disclosures, related party disclosures and foreign currency translation are also considered. The unit further explores reporting on complex financial instruments and current issues in accounting regulation and practice, as well as the politics of the standard-setting process. Students develop their written communication and critical-thinking skills through analysis of corporate group activities, with a focus on the role of professional judgement, related outputs and the potential impacts on users.
Unit details and rules
Academic unit | Accounting |
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Credit points | 6 |
Prerequisites
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ACCT2011 |
Corequisites
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None |
Prohibitions
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None |
Assumed knowledge
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None |
Available to study abroad and exchange students | Yes |
Teaching staff
Coordinator | Kaiying Ji, kaiying.ji@sydney.edu.au |
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