Details for Accounting for Groups

This subject presents the methods used to account for corporate groups. Corporate groups may be structured through investments in other entities, which will lead to a number of accounting techniques that may be appropriate in certain circumstances. Depending on the level of control that is exerted by the investor, the investment might be classified as either a subsidiary of the parent, an associate or a joint venture/arrangement. The financial reporting required by Australian Accounting Standards varies with these types of arrangements. The preparation of consolidated financial statements for corporate groups, including the treatment of goodwill, intra-group transactions and non-controlling interests are considered in depth, as are equity accounting and proportional consolidation. Other advanced topics investigated include segment disclosures, related party disclosures, and foreign currency translation. The subject also critically evaluates group accounting, the quality of information produced for users, current issues in accounting regulation and practice on related topics and the politics of the standard-setting process.

Quick Info

Currently offered by Alphacrucis: Yes
Course code: ACC301
Credit points: 10
Subject coordinator: Philip Lee

Prerequisites

The following courses are prerequisites:

ACC202—Financial Reporting

Awards offering Accounting for Groups

This unit is offered as a part of the following awards:

Unit Content

Curriculum Objective

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Outcomes

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Subject Content

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This course may be offered in the following formats

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Please consult your course prospectus or enquire about how and when this course will be offered next at Alphacrucis University College.

Required Equipment

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Assessment Methods

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Prescribed Text

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Representative References

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