Company Accounting

Course code ACFI2001Units 10Level 2000Faculty of Business and LawNewcastle Business School

Company financial statements are a crucial part of the information that stakeholders use in making assessments of companies. Company Accounting is concerned with the mechanisms that underpin the preparation of financial records for corporations including consolidated accounts. The provisions of the Corporations Act, Australian Accounting Standards, International Accounting Standards and Australian Securities Exchange Listing requirements that are relevant to corporate accounting and reporting are highlighted. The analysis, application and communication of financial information is emphasised as an essential professional attribute.

Available in 2014

Callaghan CampusSemester 1
OurimbahSemester 1
UoN SingaporeTrimester 2
Previously offered in 2013, 2012, 2011, 2010, 2009
ObjectivesAt the completion of the course students will be able to:
1. Comprehend the nature of the corporate entity and professional contexts of concepts, statutory requirements and other authoritative influences that underpin accounting and reporting in the Australian regulatory environment.
2. Identify the underlying concepts and issues in accounting for corporations.
3. Exhibit an integrative knowledge of relevant accounting standards, statutory requirements and listing requirements that impact on corporate accounting.
4. Prepare supporting entries, worksheets and working papers for the production of consolidated financial reports.
5. Identify and interpret the issues surrounding contemporary accounting controversies.
6. Employ critical analysis of financial information sources to support implementation of accounting practice.
7. Communicate effectively their accounting knowledge and skill employing contexts suitable for format and audience.
ContentThis course includes but is not limited to the following topics:

1. Nature and Regulation of Companies
2. Company Formation
3. Company Equity and Debt Capital Accounts
4. Investment in Non Current Assets, including intangibles
5. Accounting for Company Income Tax
6. Business Combinations and Goodwill
7. Consolidation Accounting – Principles
8. Consolidation Accounting – Intragroup Transactions
9. Consolidation Accounting – Non-controlling Interests
10. Accounting for Associates
Replacing Course(s)This course replaces ACFI2010.
TransitionThis course is not available to students who have successfully completed ACFI2010.
Industrial Experience0
Assumed KnowledgeACFI1001, ACFI1002
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Tutorial
Assessment Items
Essays / Written AssignmentsMajor Assignment
Examination: Formal
Other: (please specify)Tutorial Tasks and participation
Quiz - ClassMid-semester quiz
Contact HoursTutorial: for 2 hour(s) per Week for Full Term
Lecture: for 2 hour(s) per Week for Full Term
Timetables2014 Course Timetables for ACFI2001