Advanced Consolidation and Corporate Reporting

Singapore University of Social Sciences

Advanced Consolidation and Corporate Reporting (ACC491)

Synopsis

ACC491 Advanced Consolidation and Corporate Reporting covers important topics concerning the presentation and disclosure of corporate information by companies. ACC491 extends the fundamentals of financial reporting covered in ACC302 Advanced Financial Reporting to cover situations in which companies experience changes in corporate shareholding interests and/or have more complex group structures among them. ACC491 also covers other corporate reporting information required of companies whose securities are listed on securities market exchanges, such as earnings per share and segment reporting, and other presentation and disclosure requirements required by the Companies Act and the securities exchanges on which the companies’ securities are listed.

Level: 4
Credit Units: 5
Presentation Pattern: EVERY JAN

Topics

Consolidation for changes in shareholding interests
Consolidation for complex group structures
Assessing control, joint control, and significant influence
Accounting for investments in subsidiaries, associates, joint ventures, and joint operations
Consolidation theories
Deferred tax effects of consolidation
Preparation and presentation of consolidated financial statements
Disclosure of interests in other entities
Earnings per share
Disclosure requirements by other statutory bodies
Related party disclosures
Operating segments

Learning Outcome

Prepare consolidated financial statements for a group of companies with changes in control and shareholding interests, in accordance with the relevant financial reporting standards.
Construct consolidated financial statements for a group of companies with a complex group structure, in accordance with the relevant financial reporting standards.
Discuss the conceptual issues relating to consolidation, including control, joint control, and significant influence, changes in shareholding interests, complex group structures, and consolidation theories.
Recommend the accounting treatments for investor companies that have investments in subsidiaries, associates, joint ventures, and joint operations.
Draft the consolidation journal entries and consolidated financial statements that showcase the deferred tax effects of consolidation.
Analyse the conceptual issues relating to deferred tax effects of consolidation, preparation and presentation of consolidated financial statements, and disclosure of interests in other entities.
Examine the disclosure requirements for financial reporting of the Companies Act and the Singapore Exchange as well as the Financial Reporting Standards requirements for related party disclosures and operating segments.
Compute basic earnings per share and diluted earnings per share for companies with simple and complex capital structures.
Develop the essential knowledge and interpersonal skills to work effectively in a team.
Demonstrate proficiency in written and verbal communication skills.