Handbook

This course prepares students within the topic area of reporting the performance and financial status of group entities where investees are either controlled, significantly influenced, or jointly controlled entities. Students consider where a consolidated financial report is necessary, before learning how to prepare a consolidated financial report, including the treatment of goodwill and intra-group transactions. Aspects of consolidated reports, such as equity accounting, segment disclosures, related party disclosures and foreign currency translation are also considered. This course further explores complex financial reporting topics and current issues in accounting regulation and practice, as well as the politics of the standard-setting process. Students develop their communication and critical-thinking skills through analysis of corporate group activities, with a focus on the role of professional judgement, related outputs and the potential impacts on users.