COURSE NAME: FINANCIAL ACCOUNTING AND

REPORTING V
(Perakaunan Kewangan dan Pelaporan V)
COURSE CODE: ACT3129
CREDIT: 3(3+0)
TOTAL STUDENT 120
LEARNING
HOURS:

PRE-REQUISITE: ACT3128
LEARNING Students are able to:
OUTCOMES:
1. debate the relationship between
history, development and theory
formulation with an accounting
environment (C5)

2. evaluate advanced issues relating to

assets, liabilities, equities, revenues
and expenses for financial reporting
(C5,LL)

3. understand special financial

reporting issues relating to
expansion, practices and studies on
global accounting (A5, EM)

SYPNOSIS: This course covers the history and

development of accounting environment.
Current issues on reporting of assets,
liabilities, equities, income and expenses
using case studies and global accounting
issues are also emphasized
(Kursus ini merangkumi sejarah dan
pembangunan persekitaran perakaunan. Isu
semasa berkaitan pelaporan aset, liabiliti,
ekuiti, hasil dan belanja dengan
mengunakan kajian kes dan isu perakaunan
global juga ditekankan)

COURSE CONTACT
CONTENTS: HOURS

1
LECTURES 1. History and Development of Accounting and 3
Accounting Theory
- History of business transactions and
background of accounting system
- Business practice and market events

2. Formulation and Verification of Accounting 3

Theory
- Formulation and verification of theory
- Discussion on the requirement and
importance of theory for development of
reporting system

3. Regulation Approach of An Accounting 3

Theory
- Financial reporting system
- Supporting, formulating, implementing
and evaluating the accounting theories
for business practices

4. Insolvency 6
- Insolvent companies
- Shares and business valuation
- Capital reduction and company
reconstruction

5. Global Financial Accounting Environment 3

- Financial environment and regulations
that support financial reporting
- Role of authority and professional bodies
for monitoring financial reporting of
businesses

6. Special issues in Financial Accounting and 6

Reporting
- Issues in exposure draft
- Issues in Limited Liability Partnership
(LLP)
- Employee benefits

7. Case studies in Corporate Reporting 6

- Case study in sustainability reporting
- Case study in integrated reporting
- Case study in private entities
- Case study in cooperative

8. Current Issues of Recognition and 6

Measurement
- Selected case study related to asset
- Selected case study related to liability
and equity

2
 - Selected case study related to revenue
and expense

9. Creative accounting and Intellectual Capital 6

- Literature review related to creative
accounting
- Literature review related to value
creation, value relevance and intellectual
capital
- Importance of financial reporting
information to stakeholders

Total 42
ASSESSMENTS: Quiz - Week 5 (30 Mac) 10%
(Trimester runs
from 2 March
Mid Term Test - Week 8 (20 Apr) 15%
2021 to 14 June
2021)
Group Assignment – Presentation and 20%
submission in Week 4 (23 Mac), Week 6 (6
Apr), Week 12 (18 May), Week 13 (25 May)
Class participation - Ask/respond to 3Qs 5%
orally throughout the semester during online
class
Final Examination – Part 1 (6 June), 50%
Sunday, 9am-12pm), Part 2 (TBA)
REFERENCES: 1. Deegan, C., (2016), Financial Accounting Theory, (8th
Edition), North Ryde: McGraw-Hill Education.
2. Drake, M., Engel, E., Hirst, E. and McAnally, M. L., (2015),
Cases in Financial Reporting, (8th Edition), Granite Bay:
Cambridge Business Publishers.
3. Maynard, J., (2017), Financial Accounting, Reporting and
Analysis, (2nd Edition), Oxford: Oxford University Press.
4. Mio, C., (2016), Integrated Reporting: A New Accounting
Disclosure, London: Palgrave Macmillan (Springer)
5. Rankin, M., Ferlauto,K., McGowan, S. and Stanton, P.,
(2017), Contemporary Issues in Accounting, (2nd Edition),
Milton: John Wiley & Sons Australia Ltd