Module/Course Description

Course Title: Advanced Financial Reporting

Course Code: UU-ACG-4600-ZM

Programme: Bachelor of Science in Accounting and Finance - ACCA - ZM

Credits: 12.00

Course Description:

The rationale behind every module is to offer the student all possible knowledge in each module of the course, in order to be able to deepen their understanding and render them capable of practically applying it. Advanced Financial Reporting provides detailed understanding of the capital structure of the firm, its non- current assets including the intangible assets, leases, employee benefits and income taxes.

After completion of the course students are expected to be able to:
Explain how intangible assets and natural resources are measured, recorded and amortized.
Discuss why firms invest in debt and equity securities and prepare entries to account for investments and investment revenues.
Prepare reporting entries for basic and complex bond transactions, including bond conversions into equity and debt extinguishment before maturity.
Distinguish between a capital and an operating lease and prepare accounting entries in the books of both the lessor and the lesse.
Demonstrate accounting and reporting practices for the issuance of common and preferred stock, treasury stock, retirement of redeemable preferred stock and preferred stock conversion into common.
Demonstrate the ability to account for stock based compensation (stock options, SAR’s).
Distinguish between the types of pension plans and explain the alternative ways of valuing the pension obligation. Explain the accounting for unexpected gains and losses and prior service costs.
Distinguish between pre-tax financial income and taxable income. Explain the various permanent and temporary differences and deferred tax assets / liabilities together with their financial statement presentation.

Prerequisites: UU-Bsc-IND100-ZM, UU-FNT-103-ZM

Prerequisites Categories: Semester 1, Semester 2, Semester 3, Semester 4, Semester 5, Semester 6, Semester 7

Typical Module duration: 4.0 Week(s)

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