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 able to account for interests in joint ventures; be familiar with the requirements of accounting for extractive industries; be familiar with the actions available to companies in financial distress.
Synopsis The topics in this subject include the nature of company groups, consolidation concepts and practices; the preparation of consolidated financial reports; special problems in the preparation of consolidated financial reports; foreign currency translation; equity accounting; decision making using consolidated reports; disclosure of financial information (particularly for company groups); segmented reporting, differential reporting; joint ventures; extractive industries; and business closures.
Assessment Essay (2000 words): 15% + Class presentation: 10% + Mid-semester examination: 15% + Examination (3 hours): 60%