This module aims to build on the knowledge of accounting concepts, terminology, principles acquired in previous Financial Accounting/reporting modules. In particular, students will build on their knowledge of the requirements of International Financial Reporting Standards and the application of the standards to the preparation of limited company financial statements.
Preparation and presentation of Financial Statements
Preparation of Statement of Comprehensive Income, Statement of Financial Position and Statement of Changes in Equity in accordance with International Financial Reporting Standards.
Other International Accounting Standards
Study of a range of accounting standards. Revision of introductory issues from previous years. Advanced Issues on Inventories / Non-current assets including Non-current assets held for sale and discontinued operations/ Borrowing costs, Investment property, Government Grants, Intangible assets, Impairment of assets / Events after reporting period / Accounting estimates and errors/ Dividends / Income taxes / Provisions, Contingent Liabilities and Contingent Assets / leases in the lessees' books.
Accounting Principles, Concepts & Theories. Reg Framework
Revision of basic accounting concepts. Regulatory framework, Company Law and Accounting Standards.Historical cost accounting and alternative valuation methods.
Accounting policies and disclosure
Compilation of accounting policies and disclosure notes for specific transactions
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Other Assessment(s) | 30 |
| Formal Examination | 70 |