Abstract
This subject, which builds upon the introduction to financial accounting provided in the prerequisite subject, begins with an introduction to the regulatory environment for financial reporting and an overview of the conceptual framework for financial reporting principles and standards. The major focus is the form and content of published financial … For more content click the Read More button below.
Syllabus
introduction to the regulatory environment for financial reporting, as well as the conceptual framework underlying financial reporting;financial statement presentation;financial statement disclosures;accounting for share capital reserves;accounting for income tax;accounting for property and equipment;accounting for impairment of assets;accounting for intangible assets;accounting for liabilities, contingent liabilities and contingent assets;preparation of a statement of … For more content click the Read More button below.
Learning outcomes
Upon successful completion of this subject, students should:
1.
be able to prepare basic financial statements for reporting entities;
2.
be able to discuss critically and comprehensively the statutory and professional requirements upon which published financial statements are based;
3.
be able to explain the form and content of financial statements;
4.
be able to interpret and apply generally accepted accounting principles and specific financial reporting standards relating to concepts of recognition, measurement, disclosure, revaluation and impairment of key financial statement elements.