Course Details

Course Information Package

Course Unit CodeABSA307
Course Unit Details
Number of ECTS credits allocated5
Learning Outcomes of the course unitBy the end of the course, the students should be able to:
  1. Examine the principles concerning group accounting and use this knowledge to prepare consolidated accounts for groups.
  2. Identify the principles of the cash flow statement and prepare cash flow statements in accordance with international accounting standards.
  3. Prepare limited companies accounts to comply with International Accounting Standards, International Financial Reporting Standards and other related pronouncements.
  4. Interpret the information provided by limited companies accounts, group accounts notes to the financial statements and cash flow statements.
  5. Appraise the accounting standards applicable at the time to: non-current assets, inventories, provisions, contingencies, post balance sheet events, prior year adjustments, construction contracts and goodwill.
Mode of DeliveryFace-to-face
Recommended optional program componentsNONE
Course Contents

Advanced aspects of consolidated accounts: Prepare group statements of financial position (balance sheets) and financial performance (statements of comprehensive income). Examine consolidated adjustments such as inter group profits, fair value adjustments and inter company balances amongst others. Solving exercises on consolidated adjustments. Examine the accounting treatment of associates and joint ventures.

Accounting standards: Examination of main principles and accounting standards concerning non-current assets, inventories, provisions, contingencies, post balance sheet events, prior year adjustments, investments, construction contracts and goodwill.

Interpretation of performance: Examine the rationale behind ratio analysis. Examine performance indicators used in investment decisions. Interpret the financial performance and position of the firm (including public companies) from financial statements.

Statements of cash flow: Examine formats in line with international accounting practice. Preparing statements of cash flows for limited company for publication. Interpretation of the results. Introduction to the principles of consolidated statements of cash flow.

Limited company accounts for publication: Examine formats in line with the relevant legislation and accounting standards. Preparing final accounts for limited company accounts for publication that includes applications of accounting standards.

Recommended and/or required reading:
  • Kaplan Publishing, ACCA Paper F7 Financial Reporting, December 2009 &June 2010 Edition (or latest), Kaplan Publishing.
  • Kaplan Publishing, ACCA Paper P2 Corporate Reporting, December 2009 &June 2010 Edition (or latest), Kaplan Publishing.
  • BPP, AIA Professional Level 2 - Paper 13: Financial Accounting 3, 2nd Edition (or latest), BPP Learning Materials, 2008.
Planned learning activities and teaching methods

The taught part of course is delivered to the students by means of lectures, conducted with the help of computer presentations. Lecture notes and presentations are available through the web for students to use in combination with the textbooks. Lectures are supplemented with class exercises carried out in class and via homework.

Assessment methods and criteria
Final Exam60%
Language of instructionEnglish
Work placement(s)NO

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