ADVANCED FINANCIAL ACCOUNTING

AQ054-3-2-AFA

Introduction and Overview

 Lecturer information

Lecturer Name: Lim Chiew Lian, Cheryll

Email: cheryll.lim@staffemail.apu.edu.my

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Prerequisites of this module

Financial Accounting 2 or equivalent

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Aims of this module

 Contribute to the achievement of the Learning

Outcome specified for the student’s award at Level 2
 Enable students to develop their skills in relation to
the Advanced Financial Accounting
 Meet the prerequisite requirements of modules at
Level 3 of study
 Develop the ability of students to apply the
knowledge they gain in relation to the study of
Advanced Financial Accounting

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Aims of this module

 Further develop lifelong learning skills of

independent learning and study in relation to
financial reporting area related Regulatory
framework and compliance with accounting
standards and Company Act.
 Enable students to develop their ability to:
 Solve complex problems
 Perform critical analysis
 Make use of quantitative skills

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Learning outcomes
At the end of this module, YOU should be able to:
 Describe the role of approved accounting standards to
account for revenue, changes in accounting policies,
estimate and correction of errors, provision and
contingencies and deferred tax.
 Apply knowledge gained in preparing financial
statements including Statement of Changes in Equity
& Cash Flows Statement & ability to compute basic &
diluted Earnings Per Share.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Learning outcomes
At the end of this module, YOU should be able to:
 Prepare financial statements including Statement of
Cash Flows and Statement of Changes in Equity, and
ability to account for equity including compute basic &
diluted Earnings per share in compliance with
approved accounting standards.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Student Learning Time (SLT)

 Course Credit Value: 3

 Total Learning Hours: 120 hours
 Lecture: 14 times 1 hour per week
 Tutorial: 14 times 2 hours per week
 Final Exam: 2 hours
 Test: 1 hour
 Independent Learning Time: 75 hours

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Methods of Delivery

• We are now moving from the traditional

topic based teaching to outcome-based
education

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Outcomes Based Education (OBE)

• OBE is education based on producing

particular educational outcomes that:
Focus on what students can actually do after
they are taught
Expect all learners / students to successfully
achieve particular (sometimes minimum) level
of knowledge and abilities.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 So…What is OBE?

It’s
NOT
What we want to teach,

It’s
What You should learn

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Course Content Outline
1. Revenue recognition (IFRS 15)
2. Leases (IFRS 16)
3. Accounting for Provisions, Contingent Liabilities and
Contingent Assets (IAS 37)
4. Events After the Reporting Period (IAS 10)
5. Accounting for Property, Plant and Equipment (IAS 16)
6. Accounting for Investment Properties (IAS 40)
7. Accounting for Intangible Assets (IAS38)
8. Statement of Cash Flows (IAS 7)
9. Accounting for Equity and Statement of Changes in
Equity (IAS 33)

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Teaching Strategies

CLOs Teaching Strategies

CLO 1 Lecture
CLO 2 Tutorial
CLO 3 Case study

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 What the university expects from YOU
 Proper attire.

 No speaking of dialects.

 Attendance is compulsory and valid medical

certificates or letters from parents /guardians must
support any absence from class.

 Three lateness will be equal to one absence.

 All pagers and hand phones should be turned off

during lectures.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 What the university expects from YOU
 Students doing things not related to the current
lecture will be asked to leave the room and disciplinary
action will be taken in accordance with the university
rules and regulations.

 Students should not leave the room during a lecture

except with the agreement of the lecturer.

 Assignments should be submitted before 7.00p.m. on due

date to the receptionist.

 Students have to submit the EC form for late assignment

and missing from class test.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 What is expected from YOU
Learning Pedagogy:

 Lecturer approach for this module as learning facilitator

 Significant amount of independent learning by students are
expected through pre reads of essential references, cases and
article analysis done outside class.
 Students’ are expected to participate actively in class,
assignments, group discussion, case study and tutorials. This
allows lecturer to provide direction in terms of extending
students’ ideas to apply the knowledge of corporate reporting
covered in the modules.
 Students can express analysis concerning the case study
discussed in class to assist them in acquiring analytical skill.
 Group-work/research.
 Advice of Study Strategies & Skills

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 What support is available for you

 Consultation hours
 Resources
 Reference material
 Internet resources

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Assessment Methods

 Assessment components (SAIS)

 Incourse Assessment 40%

 Individual Assignment 20%
 Test 20%
 Final Exam 60%

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Individual Assignment

1. Individual Assignment (30%)

Hand out Hand in Feedback

Return
Week 7 Week 12 Week 14

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 2. Final Examination Format

Duration – 2 hours

Answer any four (4) questions from the 5

questions given.

 Each question worth 25 marks .

 You may use a calculator.
 You are advised to read ALL of the questions carefully
before you begin.

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Achievement requirements

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview

 Question and Answer Session

Q&A

AQ054-3-2-AFA ADVANCED FINANCIAL ACCOUNTING Introduction and Overview