This is the heart of the course. You will learn how to prepare consolidated financial statements for groups of companies. Key technical areas include:
Students must master the accounting for effects of changes in foreign exchange rates (SFRS(I) 21). This includes: acc3704
Eliminating unrealized profits and reconciling inter-company balances. This is the heart of the course
Individual foreign currency purchases and sales. acc3704
Defining "control" and executing acquisition-date accounting.
The course is notoriously rigorous, with a heavy emphasis on your ability to perform under exam pressure. ACC 3704 - National University of Singapore - Course Hero