Course Description

Course Name

Financial Accounting and Reporting

Session: VDNS3121

Hours & Credits

18 Credit Points

Prerequisites & Language Level

Taught In English

  • There is no language prerequisite for courses at this language level.

Overview

The accounting theory and practice relevant to some of the more complicated accounting issues unique to companies.

Teaching Arrangements
This paper is taught through lectures and workshops.

Paper Structure
- Explain the purpose and describe the main components of financial statements
- Understand the overall principles and other considerations relating to the presentation of a statement of financial position (balance sheet), statement of comprehensive income (income statement), statement of changes in equity and notes to financial statements
- Prepare a statement of cash flows
- Explain and apply the revenue recognition criteria
- Understand how to measure property, plant and equipment including the cost model and the revaluation model
- Account for matters relating to shareholders' equity
- Understand the nature of and account for a business combination
Prepare consolidated financial statements

Learning Outcomes
- Understand the background and purpose of the International Accounting Standards Board (IASB)
- Be able to think logically and critically and to make well-reasoned decisions using advanced problem-solving skills
- Understand the nature of business through advanced knowledge in at least one major subject area plus an integrated awareness of all major business functions
- Understand the cultural, legal, social and environmental factors that affect, and are affected by, business operations
- Be able to demonstrate leadership while working constructively, cooperatively and respectfully with others
- Understand the ethical consequences of business decisions
- Communicate effectively within a range of contexts

*Course content subject to change