Year
2021
Units
4.5
Contact
2 x 1-hour lectures weekly
1 x 1-hour tutorial weekly
Prerequisites
1 BUSN2036 - Financial Accounting Issues
1a BUSN2005 - Financial Accounting Issues
Must Satisfy: ((1 or 1a))
Enrolment not permitted
BUSN3002 has been successfully completed
Assumed knowledge
A basic understanding of accounting and financial statements such as can be obtained in BUSN1002 Financial Accounting Processes. In particular, material relating to company formation, share issues, non-current liabilities and assets.
Topic description

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.

Educational aims

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
Expected learning outcomes
On completion of this topic you will be expected to be able to:

  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

Key dates and timetable

(1), (2)

Each class is numbered in brackets.
Where more than one class is offered, students normally attend only one.

Classes are held weekly unless otherwise indicated.

FULL

If you are enrolled for this topic, but all classes for one of the activities (eg tutorials) are full,
contact your College Office for assistance. Full classes frequently occur near the start of semester.

Students may still enrol in topics with full classes as more places will be made available as needed.

If this padlock appears next to an activity name (eg Lecture), then class registration is closed for this activity.

Class registration normally closes at the end of week 2 of each semester.

Classes in a stream are grouped so that the same students attend all classes in that stream.
Registration in the stream will result in registration in all classes.
  Unless otherwise advised, classes are not held during semester breaks or on public holidays.