Financial and Corporate Accounting

This unit of study extends understanding of accounting concepts and their application to the corporate form of ownership. This unit takes a critical approach to accepted corporate reporting practices and current developments in accounting and financial regulation for corporations. Furthermore, it develops professional practice through concepts such as accounting for the issue and reorganisation of share capital; inter-company investments; specific corporate financial accounting practices, including accounting for company income tax; impairment and revaluation of assets; intangible assets. The unit also explores current financial reporting issues as relevant to contemporary multinational businesses.

Learning Outcomes

On successful completion of this unit, students will be able to:

1. Analyse accounting problems by interrogating a range of data including analysing and interpreting financial and business data;
2. Evaluate the impact of Information technology on organisations’ decision making, systems, processes, data security and integrity;
3. Critically review and assess the impact of financial reporting changes in Australian and International contexts;
4. Evaluate the relationships between a parent company and its subsidiary(ies), and recommend accounting treatment; and
5. Critically analyse and explain the application of accounting standards.