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Accounting for Complex Structures and Instruments - ATAX0053
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Faculty: Faculty of Law
 
 
School:  Australian School of Taxation
 
 
Course Outline: See below
 
 
Campus: ATAX Campus
 
 
Career: Undergraduate
 
 
Units of Credit: 6
 
 
EFTSL: 0.12500 (more info)
 
 
Indicative Contact Hours per Week: 0
 
 
Enrolment Requirements:
 
 
Prerequisite: ATAX0015
 
 
Fee Band: 3 (more info)
 
 
Further Information: See Class Timetable
 
 

Description

This course is concerned with the accounting issues posed by complex financial transactions and organisational structures. It looks at the issues concerning the accounting for various extended entities, such as corporate groups, associated entities and joint venture arrangements. Issues such as accounting and reporting requirements for foreign currency transactions, off-shore operations, financial instruments are addressed. Careful treatment of these issues is essential to fairly determine the income and financial position of particular business entities.


Recommended Prior Knowledge

ATAX0015 Intermediate Financial Accounting is the prerequisite for this course.

Course Objectives

The main objectives of this course are:
  • To provide opportunities for practicing skills required for problem identification, analysis and the communication of accounting knowledge
  • To develop an understanding of the accounting standards and similar pronouncements pertaining to various accounting issues
  • To challenge student to think critically about corporate financial reporting by fostering an appreciation of: the frequency of use of particular accounting techniques by Australian companies; the role of the Conceptual Framework in evaluating accounting issues; and relevant research on the effects of accounting policy choices on financial statements, capital markets and decision-making behaviour

Main Topics

  • Consolidations
  • Equity accounting
  • Accounting for joint ventures and other corporate associations
  • Accounting for foreign currency
  • Accounting for financial instruments

Assessment

Assignment 1 - 15%
Assignment 2 - 10%
My eLearning Vista MCQ Quizzes, 3 quizzes (5% each) - 15%
Final Exam, Open book, 2 hours duration - 60%

Course Texts

Prescribed
Arthur N, Grose R, Campbell J, Luff L, Accounting for Corporate Combinations and Associations (Sydney: Pearson Education Australia, 6th ed, 2007)

Citation and Style Guides
The following is a selection of acceptable citation and style guides, which you may use as the basis for your written work. You must purchase or have access to one of the following publications:
  • Rozenberg P, Australian guide to uniform legal citation (Sydney: Lawbook Co, 2nd ed, 2003)
  • Stuhmcke A, Legal referencing (Sydney: Butterworths, 3rd ed, 2005)
  • Australian guide to legal citation (Melbourne University Law Review Association, 2nd ed, 2002) - Available from http://mulr.law.unimelb.edu.au/aglc.asp

Note that in disciplines other than Law (ie, Accounting and Economics) the literature in these courses has, for the most part, been written in the Harvard style and in these courses you may prefer to use the Harvard style of referencing. Guides to using the Harvard style can be accessed at the following websites:

http://www.lc.unsw.edu.au/onlib/ref.html
http://www.usq.edu.au/library/infoabout/ref_guides/default.htm

In this course, it is acceptable to use either one of the prescribed legal styles, or the Harvard style. However, whatever style you adopt must be used consistently and correctly - you must not mix one style with another.

Recommended
Refer to Course Profile supplied by Lecturer.

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© The University of New South Wales (CRICOS Provider No.: 00098G), 2004-2011. The information contained in this Handbook is indicative only. While every effort is made to keep this information up-to-date, the University reserves the right to discontinue or vary arrangements, programs and courses at any time without notice and at its discretion. While the University will try to avoid or minimise any inconvenience, changes may also be made to programs, courses and staff after enrolment. The University may also set limits on the number of students in a course.