This course provides students with a comprehensive understanding of business combinations and inter-corporate ownership. In particular, it prepares students to critically evaluate the principles underlying the accounting of complex transactions relating to global business combinations and group reporting. It covers the preparation of consolidated financial statements, beginning with the basic consolidation process and continuing through a variety of inter-company transactions. Cases are used to illustrate the complexities of mergers and acquisitions within a real world context.
Intended Learning Outcomes
CILO-1: Gain sound and in-depth technical and conceptual knowledge of advanced accounting topics relating to business combinations, inter-corporate investments and consolidation.
CILO-2: Pre-empt emerging issues in accounting by discussing news reports on emerging issues in business and new transactions which may have implications on the future of accounting.
CILO-3: Appraise analytically and use related disciplines (e.g. business strategy and finance) to analyze specific accounting standards and to execute the group project and case presentation.
CILO-4: Describe United States Generally Accepted Accounting Principles (US GAAP) and related international practices (International Financial Reporting Standards, IFRS).
CILO-5: Demonstrate the accounting knowledge to critically analyze real business problems in an international context.