|
|
Internacional Financial Accountancy
Scholar Year: 2023/2024 - 1S
| Code: |
IMAS2023 |
|
Acronym: |
IFA |
Courses
Teaching language
English
Intended learning outcomes (Knowledges, skills and competencies to be developed by the students)
The course covers basic financial accounting principles and standards for financial reporting of business enterprises. Topics include the accounting recording procedures of transactions and events within the business cycle (sales, purchases and other expenditures), inventories’ and other assets’ valuation, revenue recognition, income measurement, and the accounting of sources of finance such as bank loans or owners/stockholders’ equity. We also provide an inside look to some of IASB standards and requirements.
At the end of the course, students are expected to be capable to fill in the Income Statement and the Balance Sheet, and know how to interpret them.
Syllabus
1. ACCOUNTING AS A MANAGEMENT SUBSYSTEM
1.1 The evolution of Accounting as a management tool;
1.2 The importance of accounting information for Decision Making;
1.3 The Company flow analysis.
2. FUNDAMENTAL CONCEPTS AND AIMS
2.1 Accounting: definition, division and purpose;
2.2 Accounting as a measurement and communication system;
2.3 The Fundamental Accounting Equation.
3. ACCOUNTING RECORDING PROCEDURES
3.1 The Accounting Journal Entry: definition, classification and representation;
3.2 Accounts characterization;
3.3 Accounting entry: concept and methods;
3.4 The Balance Sheet: concept and classification;
3.5 The Income Statement: definition and classification.
4. INTERNATIONAL FINANCIAL ACCOUNTING STANDARDS
4.1. Introduction to the International Accounting Standards Board (IASB)
4.2. International Accounting Standards:
4.2.1. IAS 1 – Presentation of Financial Statements
4.2.2. IAS 2 – Inventories
4.2.3. IAS 16 – Property, Plant and Equipment
Teaching methodologies
All necessary course content is included in the PowerPoint lecture slide handouts for each chapter. These lecture slide handouts include a description and discussion of all important concepts and demonstration problems, which include step-by-step illustrations on how to work through the various types of accounting problems covered.
Each class is a combination of lecture, class exercises, and discussion.
Assessment methodologies and evidences
Continuous Assessment (takes place during the course period):
Assessment is based on one presential, individual written test (T) that will be worth 20 (twenty) points and values 70% of the final grade plus a Group assignment (the resolution of an exercise) (GA). The working groups should be composed by 2 elements.
•T –valuing 70% of the final grade (minimum grade of 8 points)
• GA– valuing 30% of the final grade
Final Mark = 0,7 x T+ 0,3 x WGA
Every student with a final mark of under 10 (ten) points is required to do the Final Resit Examination.
You are required to use a basic calculator, non-programmable calculator, or a financial calculator on tests or exams – you are not allowed to use the calculator from your smartphone.
Resit Examination (takes place during the Examination period ):
Assessment is based on:
•1 Final Examination - An individual written test – minimum grade of 10 (ten) points, valuing 100% of the final grade.
Every student with a final mark of under 10 (ten) points will fail the course.
Final Resit Examination: Available only to students who do not opt for, or do not pass in Continuous Assessment.
You are required to use a basic calculator, non-programmable calculator, or a financial calculator on tests or exams.
Bibliography
•Alexander, David; Nobes, Christopher (2020) “Financial Accounting: an International Introduction”. 7th Edition; Pearson Higher Education. ISBN 978-1292295831
•Epstein, Barry J.; Mirza, Abbas Ali (2009) “IFRS 2009: Interpretation and Application of International Accounting and Financial Reporting Standards”. 6th Edition; Wiley. ISBN 978-0470286098
•Picker, Ruth et al. (2019) “Applying International Financial Reporting Standards”. 4th Edition; Wiley. ISBN 978-1119159223
•Mirza, Abbas Ali; Holt Graham J. (2011) “IFRS: Practical Implementation Guide and Workbook”. 3rd Edition; Wiley. ISBN 978-0470647912
•Mirza, Abbas Ali; Holt Graham J.; Orrell, Magnus (2006) “IFRS: International Financial Reporting Standards: Workbook and Guide”. 1st Edition; Wiley, ISBN 978-0471697428
•Nobes, Christopher; Parker, Robert (2020) “Comparative International Accounting”. 14th Edition. Pearson, ISBN 978-1292296463
•Kieso, Donald E.; Weygandt, Jerry J.; Warfield, Terry D. (2020) “Intermediate Accounting”. 4th Edition; Wiley, ISBN 978-1119609247
•IASB – International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS), http://www.ifrs.org/
|
|
