Module Identifier | AC30920 | ||
Module Title | FINANCIAL ACCOUNTING 3: GROUP FINANCIAL REPORTING | ||
Academic Year | 2001/2002 | ||
Co-ordinator | Ms Megan Williams | ||
Semester | Semester 2 | ||
Pre-Requisite | AC30820 | ||
Course delivery | Lecture | 16 Hours | |
Seminar | 6 Hours | ||
Assessment | Course work | Class test | 20% |
Exam | 2 Hours | 80% |
The module will also address accounting for foreign currency transactions and translation, as required when groups or companies have activities / companies located overseas. Finally, the module will cover calculation of and accounting for deferred taxation.
At the end of the module students should:
a) be able to recognize the need for group accounting and appreciate the differences between, uses and relative merits of the various methods of group accounting;
b) be aware of relevant issues, e.g. those of “fair valuation” and the treatment of goodwill, which are important to the understanding of group accounting;
c) be competent in the use of basic acquisition accounting (including accounting for associated undertakings) and merger accounting techniques;
d) have a basic understanding of accounting for foreign currency transactions and be able to apply this; and
e) have a basic understanding of accounting for deferred taxation and be able to apply this; and
f) be knowledgeable as to the associated current UK regulatory (including statutory) requirements.