Financial Accounting 3

Course code PACC6005
Available in 2015
2015 Course Timetables

Description

This courses focuses on company accounting. It provides students with an understanding of the regulatory framework for corporate financial reporting in Australia, and provides detailed coverage of the requirements for the preparation of financial statements for a group of companies operating under common control. Topics covered include accounting for corporate acquisitions; consolidation accounting; consolidated cash flow statements; accounting for company income tax; and accounting for foreign operations and corporate insolvency.

Availability

Sydney Bathurst Street

  • Semester 1 - 2015
  • Semester 2 - 2015

Learning Outcomes

1. Demonstrate an understanding of the theoretical constructs of contemporary financial accounting;

2. Exhibit an awareness of selected accounting standards, including the ability to apply these standards in appropriate circumstances.

3. Demonstrate an understanding of the technical skills, underlying concepts and issues in accounting for corporations.

4. Understand the theoretical and practical aspects involved in the preparation and interpretation of a set of consolidated financial statements.

Content

The course will provide an overview of the theories of accounting and policy choice with respect to the requirements for the preparation of financial statements.

Topics included in the course are:

  1. Intangible Assets
  2. Leases
  3. Financial Instruments
  4. Accounting for Company Income Tax
  5. Business Combinations
  6. Consolidation
  7. Company Liquidation
  8. Foreign Currency Transactions
  9. Extractive Industries

Requisites

This course is only available to students enrolled in the Master of Professional Accounting, Master of Professional Accounting (Advanced) and Master of Professional Accounting / Master of Business programs.

Assumed Knowledge

PACC6000 Financial Accounting 1 and PACC6004 Financial Accounting 2

Assessment Items

Written Assignment: Assignment

In Term Test: Mid Semester Quiz

Formal Examination: Final Examination

Contact Hours

Lecture

Face to Face On Campus 3 hour(s) per Week for Full Term