BUSN3047 Company Accounting

This topic traces the life-cycle of the company in terms of accounting and reporting with specific reference to accounting for company income tax; business combinations; consolidations and liquidation.

This topic aims to:

• Provide students with a detailed knowledge of the impact of specific regulatory requirements and accepted accounting principles upon corporate accounting procedures
• Enhance students' existing knowledge of the factors regulating corporate accounting in Australia
• Develop an ability to critically evaluate accounting and reporting requirements
• Trace the life-cycle of the company with emphasis on corporate accounting procedures, and problems involved
• Develop generic cognitive skills (especially analytical and evaluative skills)
• Develop behavioural skills (especially personal and interpersonal skills) which can be employed in an organisational work environment

1. Apply the principles of the balance sheet approach to tax-effect accounting and evaluate its desirability
2. Account for business combinations
3. Explain the need for and prepare consolidated financial statements for economic entities comprising more than one legal entity
4. Explain the process of liquidation of companies and account for the winding up of a company