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Accounting for companies is a fundamental part of professional accounting practice. Large companies have specific accounting requirements which require a thorough knowledge of accounting standards and the Corporations Act 2001. The course assumes prior knowledge from the previous financial accounting course. The ACC2115 course expands on the knowledge from the previous courses in that it specifically focuses on the accounting requirements/regulations of companies. This course develops skills and knowledge required for the higher levels of theory and practice in the accounting major.

This course is designed to enable students to acquire basic skills of company accounting (formerly ACC3115). Based on the Australian Qualification Framework, the minimum Threshold Learning Outcomes for this course will be developed in the areas of Knowledge and Application skills. A focus of the course is the development of practical skills. For example, students will prepare basic company accounting records required for a simulated consolidation of companies as a part of their assessment.

On successful completion of this course, students should be able to:

1. integrate theoretical and technical accounting knowledge particularly in the area of finance and the relevant regulations in commercial law, corporation law and taxation law at a competent level by developing understanding the purposes of accounting procedures and the conceptual frameworks on which they draw;
2. critically apply theoretical and technical accounting knowledge and skills to solve routine accounting problems at a competent level by practice in preparing accounting records and adjusting procedures to changes in regulations;
3. interpret and apply the accounting standards relating to company regulations and operations, company income tax, accounting for leases, business combinations, company consolidations, joint ventures and company foreign operations;
4. apply the requirements of the Corporations Act 2001 and the professional accounting standards (including international accounting standards) to present and prepare the accounting entries in relation to company operations and share issues, income tax, business combinations, company consolidations, joint ventures and company foreign operations;
5. solve problems through case studies that require preparation of accounting entries as required by the professional accounting standards (including international accounting standards);
6. apply the technical and professional literacy skills required of an accounting professional.