The aim of Company Accounting is to introduce and familiarise students with mandatory reporting practices with an emphasis on international accounting standards and the Australian corporate regulatory framework. Students will be made aware of different technical methods and the theoretical underpinning of these methods in order to assist them in the preparation of accounting information and financial statements in a form suitable for publication. These concepts will be illustrated and applied through different phases of the business cycle, including acquisitions and trading as a single entity or group of related entities.
Students who successfully complete this unit will be able to:
1. Demonstrate comprehensive accounting knowledge in such areas as business combinations, consolidations, accounting for income tax, property plant and equipment, impairment of assets, revenue, leases and financial instruments, and preparation of group financial statements.
2. Apply critical thinking and problem solving skills to solve financial accounting problems.
3. Undertake independent research skills and communicate solutions utilizing relevant accounting standards, corporations’ legislation and accounting and other relevant frameworks.
4. Work collaboratively in diverse groups to develop appropriate and relevant solutions to accounting problems.