1. AC303 lecture 1 Barry Smith (Q113) http://webpages.dcu.ie/~smithba/ Lectures (except reading week 7): –Monday 10.00 to 11.00 –Thursday 11.00 to 12.00 Tutorials begin week 3 (except reading week 7): –Tuesday 18.00 – 20.00 Office hours: –Tuesday 12.00 to 13.00 –Thursday 12.00 to 13.00 –Otherwise email for an appointment

2. Course topics Group accounts –Background to group accounts –Regulatory framework underpinning group accounts –Methods of accounting for subsidiaries, mergers, associates, joint ventures, minority interests, goodwill Deferred tax Current topics

3. Group accounts Sources: –Relevant FRSs, IASs, exposure drafts and discussion documents –Accounting for Groups 1 st edition, Barker/O’hOgartaigh –Principles and Practice of Group Accounts 1 st edition, Pierce/Brennan –Financial Accounting and Reporting 8 th edition, Elliott and Elliott, chapters 18 to 21 –Financial Reporting 6 th edition, Alexander and Britton, chapter 24 –Advanced Financial Accounting 6 th edition, Lewis and Pendrill, chapters 8, 9 –Introduction to financial accounting 4 th edition, Thomas, chapter 35

4. Background to group accounts What is a ‘group’? –A reporting entity which consists of a parent undertaking, its subsidiaries, associates, joint ventures and interests in joint arrangements –Where a parent undertaking exercises varying degrees of influence over other undertakings, it may be necessary to present the results and position of all undertakings as though they are the results and position of a single undertaking –Importance of group accounts is evidenced by the volume of guidance provided

5. Background to group accounts Historical influences –Industrial revolution –US developments at the beginning of the 20th Century –Later development in UK and Ireland –Introduction of legislation in Ireland Group accounts requirement based on legal control No detailed definition of group accounts CA 1963, sections 150 ff.