Accounting for non Controlling Interests

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Accounting for non Controlling Interests

According to accounting standards a parent company which controls more than 50 percent share capital of the subsidiary must account for its subsidiary in the consolidated financial statement. The parent company achieves this publishing consolidated financial statement. This statement must combine the assets, liabilities revenues and expenses of the subsidiary, associates and joint ventures. In the even that a parent charges management fee for services offered to the subsidiary, the parent and subsidiary must eliminate intercompany revenues and expenses arising from management fee. It must recognize management expenses attributed to non-controlling interest. In the consolidated financial statement, the parent eliminates income and management fee attributed to non-controlling interest which is recognized as income for the parent company.

Category:

Description

This assessment item relates to the following learning outcomes:
Professional Communication (PC)
3.2 Use information literacy skills, and communicate effectively and professionally in oral forms, appropriate
for diverse purposes and contexts. Accounting for non Controlling Interests.
Teamwork and Self (TS)
4.1 Exercise self-reflection, responsibility and accountability in relation to own learning and professional
practice. Accounting for non Controlling Interests.

AYB340 Page 2 of 3
As per the unit outline, 25% of the assessment in AYB340 is devoted to tutorial presentation, discussion
leadership, self-reflection and constructive participation in class discussion. The following is a breakdown of
how marks will be awarded for these assessment items. Accounting for non Controlling Interests.
1. Presentation and discussion leadership (10%)
Purpose: Effective communication and leadership skills are highly valued in business, particularly for
accountants whose responsibility is to provide accurate and relevant advice. To help develop these skills,
students are required to prepare a tutorial question whereby they present part of the answer to the class,
and lead class discussion on the remainder of the question.
Length or Duration: Tutorial questions will be assigned for tutorial 2 (week 3) onwards. Each student will
have approximately 5-7 minutes to present part (approximately half) of the answer to the class and lead
the class in a discussion on the remainder of the question. Topics will be agreed with tutors in the first
tutorial (week 2). Presentation questions will be provided on Blackboard under the Assessment tab.
Optional or Compulsory: Compulsory
Description: Each student will be assigned one tutorial question for the semester. In the relevant tutorial,
your role will be to present part of the answer (approximately half) and lead the class in a discussion on the
remainder of the question. Students may use PowerPoint to assist in their presentation but are limited to 5
slides only. A copy of the presentation materials (e.g. PowerPoints) must be provided to the tutor,
together with the criteria sheet. Assessment will be based on the demonstration of your understanding of
the question, and the application of any relevant theory; the quality of your discussion leadership and ability
to effectively engage other class members in a discussion on the key issues (see the criteria sheet).
When leading a discussion, students should not dominate the discussion, but rather involve others in
constructive dialogue, and manage the discussion around the relevant issues leading to a consensus (or a
clear articulation of alternative views). Your presentation and discussion leadership should generally
integrate critical or higher order thinking, and involve the following sequence:
1) identify the key aspects of the question;
2) identify any relevant theory that applies to the question; and
3) apply that theory to draw a valid conclusion. Accounting for non Controlling Interests.
Time management will be crucial, as you must ensure you have presented your conclusion before your time
expires. To assist you in this, a warning will be sounded at 5 minutes, and you will be required to stop at 7
minutes.
Question Availability: Questions will appear on Blackboard approximately two weeks before the relevant
tutorial. Accounting for non Controlling Interests.
Guidance: Tutors will model the presenter/discussion leadership role in the first tutorial. Students are
encouraged to ask questions on any aspects of the role if this is unclear.
Feedback: All students will be provided with immediate feedback as to whether the relevant issues were correctly
identified. Following a brief discussion on self-reflection with the tutor at the end of the class (details below),
individual students will also be provided with feedback regarding their overall presentation and discussion
leadership. Accounting for non Controlling Interests.
Assessment Criteria:
The criteria used for the presentation/discussion leadership role is based on:
a) Communication and presentation skills, communication content, and
b) Ability to engage the audience, management and effective finalisation of the discussion.
See the criteria sheet for more details. Accounting for non Controlling Interests.

AYB340 Page 3 of 3
2. Self-reflection on your presentation/discussion leadership (10%)
Purpose: Self-reflection is an important skill identified by the accounting profession. Accordingly, this
assessment includes marks for students’ reflection on their presentation/discussion leadership.
Length or Duration: 2-3 minutes
Optional or Compulsory: Compulsory
Description: In the week each student presents, feedback will be given first by the class group (where
appropriate) and then by the tutor. Prior to giving this feedback, students will be asked to complete a
one-page reflection worksheet (to assist the student in reflecting on how they performed); and engage in a
brief discussion with their tutor in relation to each of the 4 main criteria:
• Communication and presentation (2 marks)
• Communication content (2 marks)
• Ability to engage the audience and manage the discussion (2 marks)
• Effective finalisation of discussion (2 marks)
and what (if anything) the student would change or do differently in future presentations of a similar nature
(2 marks) . Assessment by the tutor will be based on the quality of students’ reflections.
Feedback: Feedback will be provided by the tutor on the quality of the self-reflection comments.
See the criteria sheet for more details.
3. Weekly tutorial participation (5%)
Purpose: The learning in this unit depends on understanding and questioning existing concepts through
critical or higher order thinking. This interaction will take place in tutorial presentations and discussions, and
to encourage constructive discussion, marks will be awarded for students’ participation in each tutorial’s
discussions. Accounting for non Controlling Interests.
Length or Duration: Tutorial 2 (week 3) onwards
Optional or Compulsory: Compulsory
Description: Students are required to complete the weekly presentation questions and come prepared to
express their views. Completion of the weekly work in advance provides the basic preparation for your
contribution. Assessment will be based on the quality of your contribution to class discussion. This does not
mean you have to frequently talk in class. In particular, dominating class discussion, ignoring the views of
other class members, or frequently raising irrelevant issues are not examples of good quality class
participation. Accounting for non Controlling Interests.
Feedback: General feedback will be provided throughout the semester. Students are encouraged to
approach their tutor for specific feedback on the quality of their participation.
Assessment Criteria: Class participation will be marked as follows:
• Each week, students will be given a mark out of 1 based on the quality of their participation. At the end
of the semester, the sum of each student’s 5 best marks will constitute their result for this aspect of
the assessment. Accounting for non Controlling Interests.
• Marks will be awarded as follows:
0 Little or no constructive involvement in the class discussion.
1⁄2 Some constructive involvement in the class discussion.
1 Very constructive involvement in the class discussion.
• Please also note that certain negative behaviours will affect your mark. These include: arriving late
and/or leaving early, talking over others, attempting to dominate the discussion, and failing to respect
others’ views. Accounting for non Controlling Interests.

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Accounting for non Controlling Interests

According to accounting standards a parent company which controls more than 50 percent share capital of the subsidiary must account for its subsidiary in the consolidated financial statement. The parent company achieves this publishing consolidated financial statement. This statement must combine the assets, liabilities revenues and expenses of the subsidiary, associates and joint ventures. In the even that a parent charges management fee for services offered to the subsidiary, the parent and subsidiary must eliminate intercompany revenues and expenses arising from management fee. It must recognize management expenses attributed to non-controlling interest. In the consolidated financial statement, the parent eliminates income and management fee attributed to non-controlling interest which is recognized as income for the parent company……

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