Authorised by Academic Registrar, April 1996
Objectives On completion of this subject students should be able to identify the characteristics of and account for investments in alternative business structures; understand how the conceptual framework applies to group financial reports; be familiar with financial report presentation and disclosure requirements and the use of group financial report information for decision making; be competent in the preparation of group financial reports; understand the nature and implications of tax effect accounting; be familiar with the actions available to companies in financial distress.
Synopsis Topics covered in this subject include an introduction to the accounting profession, financial reporting requirements and the reporting entity; accounting for partnerships; branch accounting; accounting for interests in joint ventures; tax-effect accounting; the nature of company groups; the preparation of consolidated financial reports; equity accounting; related party transactions; segment reporting; differential reporting and business closures.
Assessment Written (two 2000-word assignments): 40% + Examination (3 hours): 60%