Course Description
This course is a continuation of ‘Fundamentals of Accounting’ which is an intermediate level course providing substantial knowledge in financial accounting based on International Financial Reporting Standards (IFRS). Students are expected to acquire the balanced accounting techniques and theoretical knowledge through this course. Major topics include the Conceptual Framework, Property, Plant and Equipment, Intangible Assets, and Impairment of Assets, Leases, Financial Assets and Liabilities, Provisions, Contingent Liabilities and Contingent Assets, Revenue, Income Taxes, Accounting for Shareholders’ Equity, and Financial Statement Disclosures.
Intended Learning Outcomes
CILO-1: Describe the accounting for PPE, intangible assets, investment properties, borrowing costs, and the impairments.
CILO-2: Explain the accounting for leases.
CILO-3: Demonstrate the accounting procedure for financial instruments under IFRS 9.
CILO-4: Illustrate the accounting for provisions, contingent liabilities and contingent assets.
CILO-5: Identify the accounting for revenue under IFRS 15.
CILO-6: Indicate the accounting for income taxes under IFRS 12.
CILO-7: Describe the procedure to prepare financial statements and disclosures.