Program Overview

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Introduction to ACC322 Company Accounting

This subject builds on the financial reporting skills and knowledge gained in successful completion of ACC222 External Reporting. The subject is designed to prepare students for sought-after financial reporting roles in both business and practice. A range of challenging financial reporting topics, including accounting for company income tax, consolidating financial statements, and accounting for foreign currency transactions and translations, will be presented in this subject.

Availability

The subject is available in the following sessions and modes:

• Session 1 (30)
  • On Campus: Albury-Wodonga Campus, Bathurst Campus, CSU Study Centre Melbourne, CSU Study Centre Sydney, Port Macquarie Campus, Wagga Wagga Campus
  • Online: Albury-Wodonga Campus
• Session 2 (60)
  • Online: Albury-Wodonga Campus

Subject Information

Grading System

The grading system for this subject is HD/FL.

Duration

The duration of this subject is one session.

School

This subject is offered by the School of Accounting and Finance.

Enrolment Restrictions

This subject is not available to students who have completed:

• ACC221 Corporate Accounting
• ACC320 Financial Accounting 2
• ACC382
• RMBU3644

Prerequisites

The prerequisite for this subject is ACC222.

Subject Relationships

Similar subject content can be found in:

• ACC320
• ACC221
• ACC382

Incompatible Subjects

This subject is incompatible with:

• ACC221
• ACC320
• ACC382

Learning Outcomes

Upon successful completion of this subject, students should be able to:

• Compute and account for company income tax
• Prepare consolidated financial statements for economic entities where the parent has a 100% ownership interest in subsidiary and where a non-controlling interest is involved
• Account for foreign currency transactions
• Translate the financial statements of an overseas controlled entity which have been denominated in a foreign currency
• Account for and prepare relevant financial report disclosures in relation to investments in associates and business combinations

Syllabus

This subject will cover the following topics:

• Accounting for company income tax
• Business combinations
• Consolidated financial statements - method, acquisition and business combination valuation
• Consolidated financial statements 2 - intragroup transactions
• Consolidated financial statements 3 - non-controlling interests
• Consolidated financial statements 4 - cash flow statements
• Accounting for investments in associates
• Foreign currency transactions
• Translation of Foreign Currency Financial Statements