Financial Accounting 2

• • Equity
  • Overview of the Reporting Environment
  • Presentation of financial statements
  • Other disclosure issues
  • Liabilities
  • Accounting for leases
  • Accounting for income tax
  • Revenue

You must have successfully completed the following subject(s) before starting this subject:

USA-ACG11-Accounting for Business and USA-ACG12-Financial Accounting 1 ;

Others

It is assumed that students will have knowledge of present value calculations.

Special requirements

No special requirements

Presentation of financial statements: review of financial reporting requirements for companies, overview of general purpose financial reports; relevant accounting standards relating to the statement of financial position, statement of comprehensive income and statement of changes in equity, and associated notes, including revisions and errors, retained profits and underlying accounting treatments. Other Disclosure Issues: accounting policies, materiality, and events occurring after reporting period. Liabilities: definition, measurement and classification, provisions and contingencies, disclosure and presentation. Leases: classification criteria, accounting treatment in the books of the lessee, disclosure requirements.

• Report - 2500 words (30%)
• Invigilated Exam - 3 hours (70%)