1. NAME OF COURSE  / MODULE INTERMEDIATE ACCOUNTING II
2. COURSE CODE MAB2023
3. NAME(S) OF ACADEMIC STAFF  
4. RATIONALE FOR THE INCLUSION OF THE COURSE/MODULE IN THE PROGRAMME To develop understanding of selected IFRS judgments and estimates.
5. SEMESTER & YEAR OFFERED Semester 3/Year 2
6. TOTAL STUDENT LEARNING TIME (SLT) Face to face:

L T E SL
28 14 3 80

L=lecture ; T=Tutorial; E=Exam; SL=Self-Directed Learning

Total Guided and Independent Learning:

125
7. CREDIT VALUE 125/40 = 3.125 (3 credit); 2+2
8. PREREQUISITE (IF ANY) MAB1013 Principles of Accounting

MAB1043 Intermediate Accounting I

9. OBJECTIVES The course aims to enhance (using comprehensive case studies) competencies to discuss issues related to Plant property and equipment, intangibles, investment properties, agriculture-biological assets, financial assets and liabilities in more specialised industry settings. Enable a critical evaluation of the concept of control and preparation of group accounts for a simple group as well as compare and contrast treatment of deferred taxes with treatment of financial assets and liabilities.
10. LEARNING OUTCOMES On completion of the course, the students should be able to:

1.     Explain the different measurement bases and circumstances when these measurement bases are appropriate for PPE, intangibles, investment properties, agriculture-biological assets, financial assets and liabilities in different industries, including shariah-approved products (LO3-CTPS3, LO5-TS3, LO6-EM2)

2.     Compute deferred tax assets and liabilities and contrast accounting treatment and disclosure requirements with other assets and liabilities.(LO2-P3)

3.     Prepare consolidated financial statements for a simple group structure. (LO2-P3)

4.     Carry out group financial statement analysis and interpret the financial ratios. (LO3-CTPS3, LO5-TS3)

5.     Explain current developments at IASB and MASB (relating to issues discussed in the course). (LO2-P3)

11. TRANSFERABLE SKILLS The syllabus is designed to progressively broaden and deepen the knowledge, skills and professional values demonstrated by the student on their way through the qualification.

The syllabus is assessed by a three-hour paper-based examination. Questions will assess all parts of the syllabus and will include computational and non-computational elements.

12. TEACHING-LEARNING AND ASSESSMENT STRATEGY
Teaching & Learning Methods Suggested Assessment
1.  Face to face interactions during lectures & tutorials.

2. PBL and presentations.

1. Assignments, internal examinations.

2. Presentation rubric

13. SYNOPSIS This is the third level course for Financial Accounting and Reporting. This course builds on knowledge and skills introduced in FAR 2. Students need to be reminded constantly that in this course they will build on what they have learnt in FAR 1 & 2 and deals with more complex items. This course: 1. introduces comprehensive case studies to discuss issues related to plant property and equipment, intangibles, investment properties, agriculture-biological assets, financial assets and liabilities in more specialised industry setting, 2. introduces the concept of control and preparation of group accounts for a simple group; 3. introduces deferred taxes and distinguish and compare with treatment of financial assets and liabilities.
14. MODE OF DELIVERY Lecture, tutorial and PBL and case presentation
15. ASSESSMENT METHODS AND TYPES
Component %
Continuous Assessments 40
Final Examination 60
Total 100
16. CONTENT OUTLINE OF THE COURSE/MODULE AND SLT PER TOPIC
Topics L T P E SL Total
Property, Plant and Equipment 2 1 6 9
Impairment 2 1 6 9
Fair Value Measurement 2 1 6 9
Group Accounts 2 1 6 9
Deferred Taxes 2 1 6 9
Presentation and Disclosure 2 1 6 9
Advanced Financial Statement Analysis 2 1 6 9
Deferred Taxes and Financial Assets and Liabilities: An Evaluation 2 1 6 9
Formative Assessment 18 26 42
Final 3 6 9
TOTAL 16 8 0 21 80 125
17. REFERENCES Main references:

1. Picker, R. Leo, K.J, Loftus, J. Wise, V., Clark, K., and Alfredson, K., (2012). Applying International Financial Reporting Standards, 3rd Edition, John Wiley & Sons Inc., USA.

2.  Tan L. T., (2012). Financial Accounting & Reporting in Malaysia, Vol. 1 & 2, 4th ed., CCH-Asia, Malaysia.

3.  Jeter, D.C., and Chaney, P., (2012). Advanced Accounting, 5th ed., John Wiley & Sons Inc., USA.

4. Lazar, J., and Huang, C.C., (2010). Financial Reporting Standards for Malaysia, 3rd ed., Mc-Graw Hill Education, Malaysia.

5.  Ng E. J., (2010). A Practical Guide to Financial Reporting Standards (Malaysia), 3rd ed., CCH, Malaysia.

6. Malaysian Accounting Standards Board, www.masb.org.my  MFRS standards

Additional reference:

1.      Weygandt, J. J., Kimmel, P. D., and Kieso, D. E., (2011). Financial Accounting, IFRS edition, John Wiley & Sons Inc., USA.

 

Mapping of the course/module to the Programme Learning Outcomes:

WEEK TOPIC / TUTORIAL / COURSEWORK LEARNING LEVEL / STAGE REFERENCE / MATERIAL /STDS/ TOOL
1 Property, Plant and Equipment Level 1-6

Stage 4

All relevant standards

MFRS 108

MFRS 1

MFRS 2

2 Impairment Level 1-4

Stage 3

MFRS 136

MFRS 9

MFRS 139

MFRS 132

MFRS 7

MFRS 4

3 Fair Value Measurement

 

Level 1-4

Stage 3

MFRS 13

MFRS 116

MFRS 140

MFRS 138

MFRS 139

MFRS 9

4 Continuous assessment
5 Group Accounts

 

Level 1-4

Stage 3

MFRS 3

MFRS 10

MFRS 12

ED on Reporting Entity

6 Continuous Assessment
7 Deferred Taxes Level 1-4

Stage 3

MFRS 112

Discussion Paper

8 Continuous assessment should use comprehensive cases and encourage students to work together as a team and share knowledge
9 Presentation and Disclosure Level 1-3

Stage 2

MFRS 101

MFRS 107

MFRS 110

MFRS 133

MFRS 112

MFRS 2

MFRS 137

10 Formative assessment should use mini-cases and encourage students to work together as a team and share knowledge
11 Advanced Financial Statement Analysis Level 1-6

Stage 3

12 Formative assessment should use comprehensive cases and encourage students to work together as a team and share knowledge
13 Deferred Taxes and Financial Assets and Liabilities: An Evaluation Level 1-4

Stage 3

MFRS 9

MFRS 112

14 Formative assessment  comprehensive cases and encourage students to work together as a team and share knowledge