Financial Accounting 3

Course code PACC6005Units 10Level 6000Faculty of Business and LawNewcastle Business School

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.

Available in 2014

Sydney Bathurst StreetSemester 1, Semester 2
Previously offered in 2013, 2012, 2011, 2010, 2009, 2008
ObjectivesOn successful completion of this course, students will be able to:

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. Prepare consolidated financial statements.
ContentThe 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:
i. Intangible Assets
ii. Leases
iii. Financial Instruments
iv. Accounting for Company Income Tax
v. Business Combinations
vi. Consolidation
vii. Company Liquidation
viii. Foreign Currency Transactions
ix. Extractive Industries
Replacing Course(s)Nil
Industrial Experience0
Assumed KnowledgePACC6000 Financial Accounting 1 and PACC6004 Financial Accounting 2
Modes of DeliveryInternal Mode
Teaching MethodsLecture
Assessment Items
Essays / Written Assignments
Examination: Formal
Quiz - ClassMid trimester quiz
Contact HoursLecture: for 3 hour(s) per Week for Full Term
Compulsory Components
Requisite by EnrolmentThis 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.
Timetables2014 Course Timetables for PACC6005