|1.||NAME OF COURSE / MODULE||INTERMEDIATE ACCOUNTING II|
|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=lecture ; T=Tutorial; E=Exam; SL=Self-Directed Learning
|Total Guided and Independent Learning:
|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||
|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||
|16.||CONTENT OUTLINE OF THE COURSE/MODULE AND SLT PER TOPIC||
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
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
|All relevant standards
|3||Fair Value Measurement
ED on Reporting Entity
|7||Deferred Taxes||Level 1-4
|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
|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
|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
|14||Formative assessment comprehensive cases and encourage students to work together as a team and share knowledge|