AFW3740 - Group statements

Leader: Mr Jean Struweg

Offered

South Africa Second semester 2007 (Day)

Synopsis

Familiarise students with the preparation and presentation of group annual financial statements of companies in accordance with the requirements of the Companies Act, 1973, and generally accepted accounting practice.

Objectives

The learning objectives of this unit are to:

• explain the theory and background to group structures and preparing group financial statements;
• prepare consolidated financial statements for wholly-owned and partly-owned subsidiaries, taking into account the effects of intercompany transactions, dividends, preferences shares, interim acquisitions and insolvent subsidiaries;
• explain and apply alternative forms of group reporting;
• explain the basic principles of equity accounting and joint ventures;
• apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with group statements.

Assessment

Assignment (up to 3000 words): 15%
Mid-semester test 15%
Final Examination (3 hours): 70%

Contact hours

One 2-hour lecture and one 1-hour tutorial

Prerequisites

AFW2710

Prohibitions

AFW3006