Overview

To acquire knowledge of financial accounting comprising of groups of companies, and to further analyse the contents of chosen key accounting standards.

The course will cover the following:

• The rationale for a Conceptual Framework. • Preparation of basic cash flow statements. • Group Accounting: Consolidated Financial Statements for subsidiaries and associates. • Assessing Financial Performance using ratios. • Specific Accounting standards relating to property plant and equipment, intangible assets, impairment of assets, changes in accounting policies and estimates, revenue recognition, provisions, and contingent liabilities among others.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.

-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.

-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.

-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Demonstrate knowledge and understanding of the connections that can exist in group companies and the fitting accounting methods.

• Demonstrate knowledge and understanding of the ever-changing and evolving nature of accounting standards and interpretations along with issuance of new accounting standards in the context of international business.

• Demonstrate knowledge and understanding of the objective, development, and application of selected accounting standards.

• Evaluate a company’s financial and operational performance using ratio analysis.

• Prepare basic cash flow statements for companies.

• Prepare consolidated financial statements in accordance with relevant International Financial Reporting Standards.