International Financial Accounting


Exploration of the application of Financial Accounting Theory and Practice to current issues in accounting, and development of international financial accounting theory and practice.


The aim of this Module is to develop the student's critical awareness of contemporary developments of international financial accounting in theory and practice.

Learning Outcomes

By the end of this module the student should be able to:

1.  Critically evaluate the conceptual framework of financial accounting.

2.  Evaluate conceptual and practical issues in accounting for assets, liabilities, gains and losses.

3.  Determine the accounting treatment of specified financial transactions based on knowledge and understanding of conceptual models including acquisition and equity accounting in groups.

4.  critically appraise contemporary issues concerning asset and liability measurement and disclosure of provisions, leases and pension.

Indicative Content

1 Statements of cash flows IAS7

Preparation of statements of cash flows. Cash and cash equivalents; classification of cash flows by activities, Indirect and direct methods. The Interests, dividends and taxes on cash flows. Working capital changes and cash flows.

2 Accounting for Groups

The conceptual basis of accounting for the investment of one entity in another entity; preparation of group accounts including inter- company balances, unrealised profit on inter-company sales and acquisitions during the year.

3 Accounting treatments under IAS and IFRS

Provisions IAS37, post balance sheet events IAS10 Leases, IAS17, IFRS16 Financial instruments. IAS32, IAS39, IFRS7, IFRS9

Statement on Teaching, Learning and Assessment

Class contact will combine one lecture and one tutorial each week. The lectures will provide key input on concepts and contexts and provide recommended reading while the weekly tutorials will involve problem-solving exercises. This is reflected in the learning workload below allocated to independent learning.

Teaching and Learning Work Loads

Total 200
Lecture 12
Tutorial/Seminar 12
Supervised Practical Activity 0
Unsupervised Practical Activity 0
Assessment 70
Independent 106

Guidance notes

Credit Value – The total value of SCQF credits for the module. 20 credits are the equivalent of 10 ECTS credits. A full-time student should normally register for 60 SCQF credits per semester.


We make every effort to ensure that the information on our website is accurate but it is possible that some changes may occur prior to the academic year of entry. The modules listed in this catalogue are offered subject to availability during academic year 2019/10 , and may be subject to change for future years.