Special Topics in AccountingModule Details

Rationale

This course offers students a unique opportunity to delve into a diverse range of emerging and specialised topics within the field of accounting. By exploring specialised areas, students can enhance and expand their understanding of financial accounting beyond the foundational concepts covered in introductory courses. 

This course aims to provide students with an understanding of selected accounting topics and their significance to the study and practice of accounting.

Learning Outcomes

At the end of the course students will be expected to:

(i)     Analyse how operating segments of a company are identified and how is this significance determined.
(ii)    Prepare interim financial reports. 
(iii)   Prepare reporting entries for foreign currency transactions including foreign currency forward contracts, foreign currency commitments and foreign currency options. 
(iv)   Prepare translated financial statements from foreign into domestic currencies under the temporal and the current rate method. 
(v)    Prepare reporting entries and statements for companies that are going through a legal reorganisation or liquidation due to bankruptcy. 
(vi)   Prepare entries and financial statements under the government-wide and fund-based approaches for governmental and not-for-profit organisations.
(vii)  Discuss what are the most common types of trust funds and the purpose of each fund. 
(viii) Analyse how an estate’s assets are managed and distributed.
(ix)   Distinguish between capital and income in the case of a trust or estate.