The course builds on the concepts and methods covered in a basic FINANCIAL ACCOUNTING course. The student should be familiar with basic financial statements, the accounting process, the system of credit and debit and journal entries
Have an understanding about whether and how an accounting treatment captures the economics of selected economic transactions and events as well as group transactions and solve professional dilemmas using concepts of ethics (AoL 2.B). This good understanding will allow students to rigorously evaluate corporate financial reports and construct expert knowledge based on these published documents (AoL 5.B). To that end, the student will need to demonstrate an expertise on key concepts, techniques and trends in the field of accounting (AoL 7.A), specifically with regard to the IASB accounting model. Students will work together in small groups to analyse complex organizational problems using the appropriate methodology(AoL 3.A), and collaboration within an intercultural team (AoL 1.B) should help them recognize the importance of the financial reporting environment during that process. As a result, students should be able to serve as a reference point for expertise-related questions (AoL 7.D) in the context of consolidation, leasing, and other accounting-related topics.
To increase familiarity with advanced financial reporting, the course focuses on contemporary reporting issues critical to understanding corporate financial reporting such as revaluations and impairment testing of non-current assets, accounting for leases, share capital, reserves and Share options, accounting for income taxes, accounting for group structures and consolidation and disclosure issues.
