FAC3704 - Group Financial Reporting

Purpose: To gain knowledge of and insight into, as well as the ability to apply this knowledge to the preparation of financial statements, for the following subject matter: the consolidation procedures required for the preparation and presentation of group financial statements namely, business combinations, intragroup transactions, losses of a subsidiary, horizontal groups, vertical groups, complex groups, consolidated cash flow statements, changes in ownership, and the accounting treatment and disclosure of associates, joint ventures and joint operations, including any relevant deferred tax implications. It is recommended that a student either register concurrently for the FAC3701 module or have already passed it.