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 Outcome (COs):

Course

Learning outcome (at course level)

Learning and teaching strategies

Assessment Strategies

Paper Code

Paper Title

AAF 412

Strategic Business Reporting

Upon successful completion of this course, the student will be able to:

CO 129: Focus on The Professional and ethical duty of the accountant, Legal and Financial reporting framework, and Reporting of financial performances of entities

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

CO 131: Prepare Financial statements of groups of entities

CO 132: Organize and develop skills for Appraisal of financial performance and position of entities

CO 133: Summarize 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: 
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 frameworkàThe 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 –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 developmentsàEnvironmental and social reporting Convergence between national and international reporting standards, Current reporting issues
Essential Readings: 

Study material of ACCA – P2

Academic Year: 
2021-2022
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