Strategic Business Reporting

Paper Code: 
AAF 412
Credits: 
6
Contact Hours: 
90.00
Max. Marks: 
100.00
Objective: 

To equip students with the knowledge to prepare and analyze financial reports for single and combined entities.

Course Outcomes (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 412

Strategic Business Reporting

CO 129: Equip students with the knowledge of The Professional and ethical duty of the accountant, Legal and Financial reporting framework and Reporting of financial performances of entities

CO 130: Understand in detail the practical applications of International Financial Reporting Standards and enable development of skill based application of IFRS

CO 131: Enable student to Prepare Financial statements of groups of entities

CO 132: Enable student to develop skills for Appraisal of financial performance and position of entities

CO 133: Demonstrate the Implications of changes in accounting regulation on financial Reporting and provide knowledge of Current developments

 

Approach in teaching:

Interactive Lectures, Discussion, Tutorials, Reading assignments,

 

Learning activities for the students:

Self learning assignments, Effective questions, Seminar presentation

 

Class test, Semester end examinations, Quiz, Solving problems in tutorials, Assignments, Presentation, Individual and group projects

 

18.00
Unit I: 
The Professional and ethical duty of the accountant
  • Professional behavior and compliance with accounting standards. Ethical requirement of ethical reporting and consequences of unethical behavior.
  • Social Responsibility
  • Legal and Financial reporting framework.
    • The application strength and weakness of an accounting framework
    • Critical evaluation of principles and practice
    • The legal requirements relating to the preparation of single entry financial reporting statements.
  • Reporting of financial performances of entities -I
    • Performance Reporting
    • Non – current Assets: Tangible and intangible
    • Provisions and contingencies and events after the reporting date transaction.
18.00
Unit II: 
Reporting of financial performances of entities- II
  • Financial instruments Leases, Segment reporting, Employee benefits, Taxation Provisions, contingencies and events after the reporting date
  • Related parties, Share-based payment, Reporting requirements of small and medium sized entities (SMEs) including key differences between the requirements of the IFRS for SMEs and UK GAAP

 

18.00
Unit III: 
Financial statements of groups of entities
  • Group accounting including cash flow statements, Continuing and discontinued interests
  • Changes in group structures, Foreign transactions and entities
18.00
Unit IV: 
Appraisal of financial performance and position of entities
  • The creation of suitable accounting policies, Analysis  and  interpretation  of  financial  information  and measurement of performance.
  • Specialized entities and specialized transactions.
  • Financial reporting in specialized, not for profit and public-sector entities Entity scheme for arrangement and reconstruction.

 

18.00
Unit V: 
Implications of changes in accounting regulation on financial Reporting
  • The  effect  of  changes in  accounting standards  on  accounting systems
  • Proposed changes to accounting standards
  • Current developments
    • Environmental and social reporting
    • Convergence between national and international reporting standards, Current reporting issues.
Essential Readings: 

 

 

References: 

Study material of ACCA – P2

Academic Year: 
2020-2021
  • Printer-friendly version
  • PDF version