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Year module |
NQF level: 7 |
Credits: 24 |
| Module presented in |
Module presented online |
| Pre-requisite: FAC2601, FAC2602 & TAX2601 |
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| Purpose: To equip students with the necessary competencies for the preparation and presentation of financial statements according to the requirements of International Financial Reporting Standards and to gain knowledge and understanding of the theories, relevant in this accounting field, as well as the ability to apply this knowledge to the following subject matter: the consolidation procedures required for the preparation and presentation of group financial statements namely, business combinations, consolidation after the acquisition date; intragroup transactions, losses of a subsidiary, horizontal groups, vertical groups, complex groups, changes in ownership (no change in status where control has already been obtained ) and the accounting treatment and disclosure of associates, joint arrangements, government grants, employee benefits, earnings per share, segment reporting and related party disclosures, including any relevant deferred tax implications for all topics. |