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Semester 1

Accountancy 2A (ACCN08009)

Subject

Accounting

College

CAHSS

Credits

20

Normal Year Taken

2

Delivery Session Year

2022/2023

Pre-requisites

Visiting students must have completed at least 1 introductory level course in Financial Accounting at grade B or above for entry to this course. We will only consider University/College level courses. It is recommended that Full Year students also take Accountancy 2B (ACCN08010).

Course Summary

This is an intermediate level course focusing on international financial reporting. Key topics include, the regulatory framework of corporate reporting, the accounting profession, preparation of published financial statements, accounting standards, tangible and intangible assets, liabilities and related issues, overseas involvement and accounting for groups.

Course Description

Accountancy 2A is an intermediate course which builds on the knowledge gained in Accountancy 1A by examining more advanced aspects of financial accounting/and reporting. Students are expected to have a solid grasp of the basics of financial accounting, particularly the double-entry system for recording business transactions and period-end adjustments and the preparation of financial statements. It is intended that this course (together with Accountancy 2B in Semester 2) will offer a bridge for students proceeding to the study of accounting at honours level. The course begins with a review of the topics covered in Accountancy 1A relating to the preparation of financial statements. This will be followed by issues relating to the preparation and presentation of corporate published financial statements, the regulatory framework for financial reporting and the accounting profession. We will examine the financial reporting standards and issues relating to the following: tangible and intangible assets; liabilities, equity, group accounts, statement of cash flows and accounting for overseas involvement. SYLLABUS: Preparation & presentation of financial statements. The regulatory framework. The accounting profession. Statements of cash flows (direct/indirect & analysis). Assets (including asset impairment & assets held for sale). Group accounts. Associates & joint ventures. Related parties & changes in foreign exchange rates. Provisions and events after the reporting date. Leases. STUDENT LEARNING EXPERIENCE: Students will experience the identification and evaluation of different ways of learning including the assimilation of presented material, structured and free choice reading, interaction with staff and other students, practice by doing, use of learning facilities such as library and IT support. While the collaboration with others in the learning process is encouraged the enhancement of independent learning and self-management in finding, organising, assimilating information and in applying this knowledge is central to the course. Lectures will introduce each new topic and materials/resources will be made available on Learn during the previous week. Tutorials supplement the material covered in lectures. These consist of groups of around 14 students, engaging in weekly sessions facilitated by a tutor. Students prepare for the tutorial by completing quizzes, practical exercises and/or reviewing annual report extracts or other reading assignments for review/discussion during the session. The tutor is an important link with the class work and is there to help you in your learning. Working through practical exercises is an essential part of learning accounting. Certain lecturer led activities are structured as workshop sessions where the class will be involved in solving practical exercises.

Assessment Information

Written Exam 90%, Coursework 10%, Practical Exam 0%

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