ACS3740 Financial accounting D
Faculty of Business and Economics
ACS3740 Financial accounting D is a level 3, 6-credit-point, undergraduate unit from the Faculty of Business and Economics, offered in 2020 in Semester 1, Semester 2 and Summer B at South Africa. It needs ACS3730.
- Credit points
- 6
- Offered in 2020
- Semester 1, Semester 2, Summer B
- South Africa
- Assessment
- Exam 60%
- and 1 other task
- Workload
- 144 hours
- per semester
This is the 2020 handbook entry. See the 2021 entry.
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Requisites
Before ACS3740
Prerequisites
Pass these before you enrol.
After ACS3740
No unit lists ACS3740 as a prerequisite in the 2020 handbook.
Overview
The unit focuses on the preparation and presentation of group financial statements in accordance with the requirements of IFRS and the regulatory environment. In doing so, it builds on the principles of group accounting introduced in AFS2740/ACS2740. The unit explores: factors to be considered when assessing control of one entity by another; accounting for business combinations, acquisition of equity interests in another entity, wholly or partly, at acquisition and subsequent to acquisition; accounting for intragroup transactions and dividends, at-acquisition fair value adjustments, preference shares and impairment of goodwill. Consolidation is also applied to accounting for complex groups and interim acquisitions. The unit also covers the application of IFRS to accounting for associates and joint arrangements. In preparation of group accounts, the unit requires the appropriate application of IFRS topics (as covered in AFS3730/ACS3730) in the group financial statements.
Offerings in 2020
| Teaching period | Campus | Mode |
|---|---|---|
| First semester | South Africa | On campus |
| Second semester | South Africa | On campus |
| Summer semester B | South Africa | Block on |
Assessment
- Within semester assessments40%
- ExaminationThreshold hurdle60%
Learning outcomes
When you finish this unit, you should be able to:
- 1
discuss and apply the practical application of IFRS topics, as covered in prior financial accounting units, to the financial reporting of entities, both in individual and group financial statements
- 2
discuss the theory and background to group structures and preparing group financial statements
- 3
prepare and assess group financial statements for wholly-owned and partly-owned subsidiaries, taking into account the effects of intragroup transactions, dividends, preferences shares, interim acquisitions and complex groups
- 4
discuss and apply the principles of accounting for associates and joint arrangements
- 5
discuss and apply the basic principles of changes in ownership interests of group entities
- 6
apply critical thinking, problem solving and presentation skills to individual and/or group activities dealing with group statements and demonstrate in an individual summative assessment task the acquisition of a comprehensive understanding of the topics covered by ACS3740.
Workload and teaching
- Tutorials12 hours
- Lectures36 hours
- Teaching approachProblem-based learning
Minimum total expected workload to achieve the learning outcomes for this unit is 144 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.
Lecture and tutorials or problem classes
This teaching and learning approach provides facilitated learning, practical exploration and peer learning.
You will have one three-hour lectures, as well as one one-hour tutorial class per week.
During the lecture classes, we work through the basic theory and also do some practical examples.
During the tutorial classes, we work through questions and case studies in small groups.
We also make use of peer assisted learning techniques and will make use of multi modal teaching methods.
Learning resources
Required resources
Binnekade, C. S., Koppeschaar, Z. R., Stegmann, N., Rossouw, J., & Wright, C. (2019). Group statements: Volume 2 (latest ed.). LexisNexis.
International Accounting Standards Committee Foundation. (2020). A guide through International Financial Reporting Standards. LexisNexis.
Textbooks and online material. Virtual learning environment (VLE): Moodle
Binnekade, C. S., Koppeschaar, Z. R., Stegmann, N., Rossouw, J., & Wright, C. (2019).
Group statements: Volume 1 (latest ed.). LexisNexis.
Contacts
- Chief Examiners
- Ms Karen Odendaal
Common questions
What are the prerequisites for ACS3740?
You need ACS3730 before you enrol.
When is ACS3740 offered?
In 2020, ACS3740 runs in Semester 1, Semester 2 and Summer B at South Africa.
How much work is ACS3740?
The handbook expects about 144 hours of study across the semester. No students have rated its difficulty yet.
Does ACS3740 have an exam?
Yes. The exam is worth 60% of the final mark, alongside 1 other task.
More details
- Credit points
- 6
- Level
- 3
- Study level
- Undergraduate
- Faculty
- Faculty of Business and Economics
- Organisational unit
- Department of Accounting
- Type
- Coursework
- EFTSL
- 0.125
- Student contribution
- SCA Band 3
- Study abroad
- Not available
- Handbook years
- 20202021