Mr I. Langfield-Smith. 306-104 Accounting 1B. First semester. Two 1-hour lectures, a 1-hour workshop and a 1-hour tutorial a week. On completion of this subject a student should:

• be familiar with the procedures for incorporation and dissolution of a company;
• be familiar with the impact of diversity and choice of accounting method on external corporate financial statements;
• be familiar with the fixed format and general presentation requirements relevant to external corporate financial statements;
• understand the nature and implications of tax-effect accounting;
• understand the rationale behind funding alternatives and the accounting implications of each;
• be able to understand and discuss the appropriate treatment of goodwill and discount arising on acquisition;
• be competent in the preparation of consolidated external financial statements;
• be aware of the accounting problems arising from engaging in foreign currency denominated business transactions and investments.

Introduction to the preparation of annual financial statements, accounting standards and the regulation of corporate reporting. A 3-hour end-of-semester examination (90 per cent); tutorial participation (10 per cent). Satisfactory completion of this subject requires a 50 per cent pass in the examination. To be advised