Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should understand how the conceptual framework applies to group financial reports; be familiar with financial report presentation and disclosure requirements; be competent in the preparation of group financial reports and the translation of the financial statements of foreign operations; be familiar with the requirements of accounting for extractive industries; be familiar with the actions available to companies in financial distress.
Synopsis Topics covered in this subject include financial reporting requirements and the reporting entity; branch accounting; accounting for interests in joint ventures; accounting for extractive industries; the nature of company groups; the preparation of consolidated financial reports; foreign currency translation;equity accounting; related party transactions; segment reporting; differential reporting and business closures.
Assessment Written: (1500 words) 10% + Mid-semester examination: 15% + tutorial presentation: 10% + Examination (3 hours): 65 %