1. NAME OF COURSE  / MODULE ADVANCED ACCOUNTING II
2. COURSE CODE MAB3013
3. NAME(S) OF ACADEMIC STAFF  
4. RATIONALE FOR THE INCLUSION OF THE COURSE/MODULE IN THE PROGRAMME To develop competency in making IFRS judgments and estimates.
5. SEMESTER & YEAR OFFERED Semester 5/Year 3
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

MAB1023 Intermediate Accounting I

MAB2023 Intermediate Accounting II

MAB2033 Advanced Accounting I

9. OBJECTIVES The course aims to enhance (using comprehensive case studies) competencies to evaluate critically the role of professional accountants in society and to reinforce notions of public interest and ethics. It aims to provide an overview of professionalization of accountants and history of accounting. It draws lessons from corporate scandals and the implications for the development of accounting standards and the profession. Based on the context of specific standards such as are share-based payments, employee benefits, revenue, IFRS for SMEs, the standard setting process is evaluated. Students are exposed through comprehensive cases involving use of professional judgment and making estimates in terms of fair-value measurements and disclosures regarding accounting policy changes and estimates.
10. LEARNING OUTCOMES On completion of the course, the students should be able to:

1.     Critically evaluate the role of professional accountants in society (LO5-TS3)

2.     Explain the role of corporate scandals in the development of accounting and the profession. (LO2-P2)

3.     Explain the importance of professionalization of accountants in the context of the historical development of accounting (LO2-P2)

4.     Critically evaluate the role of various interest groups in formulation of accounting standards and the due process of accounting standard setting of specific accounting standards. (LO5-TS3)

5.     Explain current developments at IASB and MASB (relating to issues discussed in the course) (LO3-CTPS3)

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 fifth level course for Financial Accounting and Reporting. This course builds on knowledge and skills introduced in FAR1-4 and reinforces the fourth stage capabilities and competency building in IFRS. The discussion in FAR 1 on role of professional accountants in society is revisited to reinforce notions of public interest and ethics. It also provide an overview of professionalization of accountants and history of accounting. It draws lessons from corporate scandals and the implications for the development of accounting standards and the profession. Based on the context of specific standards such as are share-based payments, employee benefits, revenue, IFRS for SMEs, the standard setting process is evaluated. Students are exposed through comprehensive cases involving use of professional judgment and making estimates in terms of fair-value measurements and disclosures regarding accounting policy changes and estimates.
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
History and Development of Accounting and Accounting Theory 2 1 6 9
Formulation and Verification of Accounting Theory 2 1 6 9
Regulation Approach of An Accounting Theory 2 1 6 9
Financial Accounting Environment in Malaysia 2 1 6 9
Special Issues in Financial Accounting and Reporting 2 1 6 9
Impairment of Goodwill: A comprehensive Case Study 2 1 6 9
Revenue Recognition Issues 2 1 6 9
Interim Financial Reporting 2 1 6 9
Employees Benefits 2 1 6 9
Accounting and Reporting by Retirement Plans 2 1 6 9
Formative Assessment 12 14 26
Final 3 6 9
TOTAL 20 10 0 15 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 History and Development of Accounting and Accounting Theory Level 1-6

Stage 4

2 Formulation and verification of Accounting Theory Level 1-6

Stage 4

3 Regulation Approach of an Accounting Theory Level 1-6

Stage 4

4 Continuous assessment
5 Financial Accounting Environment in Malaysia

 

Level 1-6

Stage 4

 

 

6 Continuous Assessment
7

Special Issues in Financial Accounting and Reporting

 

Level 1-6

Stage 4

IFRS for SMEs
8 Continuous assessment should use comprehensive cases and encourage students to work together as a team and share knowledge
9 Impairment of Goodwill: A comprehensive Case Study Level 1-6

Stage 4

10 Revenue recognition issues Level 1-6

Stage 4

MFRS 118

MFRS 111

IFRIC 15

IFRIC 13

ED

11 Interim Financial Reporting Level 1-6

Stage 4

MFRS 134
12 Employees Benefits Level 1-6

Stage 4

MFRS 119
13 Accounting and Reporting by Retirement Plans Level 1-6

Stage 4

MFRS 126
14 Formative assessment  using comprehensive cases