Financial Statement: Theory, Practice and Critique
Module code: MN7391
Financial accounting and reporting is the process of recording information about an organisation’s activities and providing summary statements of the organisation’s financial position and performance. This process involves judgements and estimates guided by fundamental principles and rules set by committees of accountants.
In this module you'll learn how to apply the main accounting standards, and will obtain an understanding of the effect of judgements and estimates on the financial reports. You will also obtain a critical appreciation of the underlying assumptions involved in the application and development of accounting standards. You'll look in detail at the International Financial Reporting Standards (IFRS) and where appropriate make comparisons with other accounting standards, such as the USA General Accepted Accounting Principles (USGAAP).
- Conceptual framework and accounting theories
- Non-current tangible assets
- Intangible assets
- Impairment of assets
- Leases accounting
- Inventory valuation
- Accounting for financial instruments
- Accounting for employee benefits
- Current and deferred income taxes
- Consolidated financial statements