Company Accounting ACNE 4333

Course description:

This course covers the characteristics of accounting environment and its financial reporting requirements for companies, and expands on accounting for non-current assets (depreciation, revaluation, impairment), accounting for intangible assets, accounting for liabilities (issue and extinguishment of debt instruments) and owners' equity (share capital and reserves) and accounting for leases and income tax and equity investments.
The major difference for corporations is the equity section. This course examines how to issue stocks, treasury stocks and dividends in corporations.
An in-depth study of the concepts underlying external financial reporting, along with expanded coverage of the basic financial statements. Detailed analysis of the measuring and reporting of assets, liabilities, shareholders equity, and related revenues and expenses. 

Course Aims:

  • Understanding the equity section of a corporation
  • Understanding the stocks transaction in a corporation.
  • Understanding the effect of treasury stocks on equity section and on performance measures for a corporation.
  • How to record bond issues and amortization.
  • Understand the reporting requirements for a corporation.
  • Acquire the skill to address the financial operations of joint venture companies.
  • Introduce students to public shareholding companies and limited characteristics and accounts for the issuance of shares and bonds.

Course outcomes:

Upon successful completion of the requirements for this course, students will have:
  • An understanding of the regulatory environment in which the companies are formed and.
  • A solid foundation in accounting and reporting requirements of the Corporations Act and relevant accounting standards.
  • A comprehensive understanding of the advanced issues in accounting for assets, liabilities and owner’s equity.
  • The ability to account for income taxes.
  • The ability to account for leases.
  • The ability to account for intangible assets.
  • An understanding of the accounting requirements for a corporate group and familiarity with the theory underlying the methods used to account for inter-company investments.
  • An understanding of the basic principles of accounting for investments in associates