ACCTING 7023 - Advanced Financial Accounting (M)

This course covers advanced financial reporting issues and accounting methods for company accounting. It introduces different types of inter-entity relationships and related accounting issues and accounting treatments. Students will learn how to prepare, read, analyse and evaluate the consolidated financial statements based on the guidelines provided under the relevant Accounting Standards. Students are required to undertake a research project where students will develop skills to research a wide variety of information sources including the relevant Act and Australian Accounting Standards and to integrate the research output with their theoretical and technical knowledge to understand and analyse issues in relation to business combinations. Topics include Revision of Company Accounting, Overview of Investment Accounting, Business Control and Consolidation, Accounting for Intra-Group Transactions and Non-Controlling Interest, Significant Influence and Equity Method, Foreign Currency Transaction and Financial Statement Translation, Related Party Disclosure, and Accounting for Liquidation.