Course Description
Course Name
Financial Accounting 2
Session: VGSS3122
Hours & Credits
20 SCQF Credits
Prerequisites & Language Level
Financial Accounting 1
Taught In English
- There is no language prerequisite for courses at this language level.
Overview
This course builds on the knowledge gained in Financial Accounting 1 and covers a range of advanced financial accounting concepts. The course is designed to help students construct financial statements, interpret financial statements and to develop a theoretical and analytical grasp of intermediate financial accounting issues.
This course builds on the material covered in Financial Accounting 1. The course aims to:
? Advance the ability of students to prepare accounts in accordance with relevant generally accepted accounting principles and standards (with an emphasis on International Standards);
? Encourage students to apply a critical and analytical approach to accounting; and
? Enhance students? analytical, management and communication skills.
By the end of this course, students should be able to:
? Prepare financial statements (including Income Statement, Statement of Financial Position (Balance Sheet) and notes) in a form appropriate for external users and in accordance with relevant regulations, guidelines and principles for simple groups.
? Prepare a Statement of Cash Flows and notes in a form appropriate for external users and in accordance with relevant regulations, guidelines and principles for individual organisations.
? Identify and solve problems of financial accounting practice by the selection and application of appropriate accounting principles, concepts and techniques.
? Critically evaluate alternative financial reporting theory and practice for a selection of important accounting issues.
Description of Summative Assessment:
Class test (25%) and degree examination (75%)
*Course content subject to change