Description
This module covers exploration of the application of Financial Accounting Theory and Practice to current issues in accounting, and development of international financial accounting theory and practice.
Aims
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
Teaching and Learning Work Loads
| Teaching and Learning Method | Hours |
| Lecture | 12 |
| Tutorial/Seminar | 12 |
| Practical Activity | 0 |
| Assessment | 70 |
| Independent | 106 |
| Total | 200 |
Guidance notes
SCQF Level - The Scottish Credit and Qualifications Framework provides an indication of the complexity of award qualifications and associated learning and operates on an ascending numeric scale from Levels 1-12 with SCQF Level 10 equating to a Scottish undergraduate Honours degree.
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.
Disclaimer
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 2021/22 , and may be subject to change for future years.
