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22320 Accounting for Business Combinations

Warning: The information on this page is indicative. The subject outline for a particular session, location and mode of offering is the authoritative source of all information about the subject for that offering. Required texts, recommended texts and references in particular are likely to change. Students will be provided with a subject outline once they enrol in the subject.

Subject handbook information prior to 2019 is available in the Archives.

UTS: Business: Accounting
Credit points: 6 cp

Subject level:


Result type: Grade and marks

Requisite(s): 22207 Accounting for Business Decisions B
These requisites may not apply to students in certain courses.
There are course requisites for this subject. See access conditions.


Together with 22420 Accounting Standards and Regulations, this subject deals with the application and analysis of prescribed accounting treatments. It specifically surveys the institutional and legal framework of current Australian accounting with reference to international accounting standards and local and overseas standards and exposure drafts.

Subject learning objectives (SLOs)

Upon successful completion of this subject students should be able to:
1. apply the regulations that determine accounting and reporting for economic entities
2. prepare financial statements for economic entities that accounts for subsidiaries, associates and joint ventures, and provides segment information
3. implement accounting and reporting techniques to non-routine circumstances and new events
4. discuss, in written form, the appropriate accounting treatment applicable in the given circumstances.

Contribution to the development of graduate attributes

This subject builds on the foundation provided in 22207 Accounting for Business Decisions B to extend the financial accounting knowledge required for a major program of study in accounting within the Bachelor of Business and Bachelor of Accounting degrees. It contributes to the objectives of the accounting major by focusing on the development of accounting and reporting techniques currently applicable to corporate entities in Australia, with appropriate consideration of international requirements.

This subject contributes to the development of the following graduate attributes:

  • Critical thinking, creativity and analytical skills
  • Attitudes and values

This subject also contributes specifically to develop the following Program Learning Objectives:

  • 2.1: Locate and critically evaluate relevant data and literature to address business problems through a research approach Critically evaluate data and resources in the context of relevant academic literature
  • 2.2: Apply critical and creative thinking to address issues in business
  • 4.2: Critically analyse sustainability principles for various stakeholders in relation to business contexts

Teaching and learning strategies


Students enrolled in this subject are expected to have possessed a good understanding of the basic accounting principles and be proficient with recording accounting journal entries. To ensure students are up to speed at the outset, revision materials will be available on UTSOnline and students should go through these materials before attending the first lecture. In addition, there will be an online quiz (as a formative learning tool) to gauge their progress and provide feedback on students’ understanding of the basic concepts.


Lectures are designed to introduce the technical and theoretical aspects of the subject. Lectures cannot cover the total course content in depth but provide an overview of each topic and explain more difficult concepts using practical examples and demonstration questions. Lecture notes are available on UTSOnline and are intended merely to provide students with the key headings that will be explained in lectures. Students are expected to add their own additional notes and explanations. At the beginning of each lecture any administrative announcements are made (and these are duplicated online as well). It is recommended that students read the relevant textbook chapter and any other required readings prior to attending the scheduled lecture on that topic. This background reading is essential to setting the scene for the lecture. During lectures, students are expected to participate in interactive discussions on various topics. Students will also have to use their mobile devices and interactive online systems to answer questions as part of their interactive learning experience.


Tutorials begin in the second week of session. The primary objective of the tutorial is to consolidate the material covered in lectures in the previous week, and students are expected to have fully attempted the assigned problems before coming to the tutorial. During tutorials, students will be asked to provide or discuss answers to the assigned problems based on the work they have prepared at home. It is important for students to remember that tutorials represent a valuable opportunity for learning, and this potential is only fully achieved if students are fully prepared and participate in discussions. Tutorials will be conducted on the assumption that students have come to class prepared. Students must attend their timetabled tutorial, bringing the tutorial questions with them to class. Solution to the assigned tutorial questions will be provided on UTSOnline at the end of each week. In addition, real-world case studies will be handed out in tutorial classes for students to work in groups. Students will be provided feedback on the work they prepared by the tutor.


These questions are not covered in class but are intended for students to attempt as part of their regular individual study. Answers to self-study questions will be posted on UTSOnline the week after the respective topic. We strongly encourage students to attempt these questions as it provides a guide to their comprehension of course material and will indicate areas where they may wish to seek assistance from course staff.

UTSOnline (

UTSOnline provides the main online learning support. It is essential that students log in at least twice per week to keep abreast of subject-wide announcements and use the resources to supplement their learning. Lecture slides are available on UTSOnline the day before each lecture and students should download and bring them to class. Please note that lecture slides are not a substitute for attending lectures.

Online discussion forums will be available throughout the session to all students on the UTSOnline site. These can be used to clarify questions relating to subject content and subject administration. Please follow discussion forum rules when placing posts. To encourage students to use the discussion forums and to ensure consistent information is available to all students, subject staff will not answer emails on subject content, administration or assessment items. Appropriate online behaviour in such discussions is expected at all times. Subject staff will attempt to answer questions posted on UTSOnline discussion forums.

Content (topics)

  • The regulatory environment for corporate and other reporting entities in Australia
  • Introduction to consolidation
  • Principles of consolidation and the consolidation process
  • Accounting for investments in associates
  • Accounting for interest in joint arrangements
  • Other corporate disclosures including segments and related parties


Assessment task 1: Learning quizzes (Individual)


This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 15%

Assessment task 2: Assignment (Group)


This addresses subject learning objective(s):

1, 2, 3 and 4

Weight: 20%

15 pages (double-spaced, A4 pages and font size 12)

Assessment task 3: Final Exam (Individual)


This addresses subject learning objective(s):

1, 2 and 4

Weight: 65%

Minimum requirements

Students must achieve at least 50% of the subject’s total marks and attempt all components of the assessment.

Required texts

Arthur, Luff, Keet, Egan, Howieson and Ram, Accounting for Corporate Combinations and Associations, 2017, 8th edition, Pearson Australia.

You can download accounting standards (free of charge) from the website of the Australian Accounting Standards Board (

Recommended texts

Deegan, C., 2012, Australian Financial Accounting, 7th Edition, McGraw-Hill, Sydney.