Advanced Accounting
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This course provides advanced knowledge in accounting principles, standards, and practices, focusing on complex financial reporting scenarios. Building on prior learning in financial and intermediate accounting, the course introduces learners to important IAS and IFRS standards, alongside advanced corporate accounting topics like amalgamation, holding companies, and capital restructuring. It emphasizes practical applications of hire purchase, insurance claims, banking accounts, and other specialized topics, ensuring a comprehensive understanding of global accounting frameworks.
Course Details
Instructor
Course Catagory
Accounting Courses
Duration
48 Hours
Type
Self Guided
Course Plan
Course Objectives
Upon successful completion of this course, participants will:
1. Apply IAS and IFRS to advanced financial reporting scenarios.
2. Prepare consolidated financial statements for complex holding structures.
3. Address advanced accounting treatments for hire purchase, insurance claims, and banking companies.
4. Develop expertise in special topics like amalgamation, underwriting, and capital reduction.
5. Analyze social accounting frameworks and their implications in corporate reporting.
Program Learning Outcomes (PLO)
Upon successful completion of the Accounting Teacher program, graduates will be able to:
1. Understand Core Accounting and Finance Principles
Develop a comprehensive understanding of foundational and advanced principles in accounting and finance, enabling effective analysis and resolution of diverse financial and managerial challenges.
2. Apply Analytical and Quantitative Skills
Enhance the ability to employ analytical tools and quantitative techniques for problem-solving, decision-making, and performance evaluation across various accounting and finance contexts.
3. Integrate Ethical and Professional Standards
Promote the application of ethical principles, professional standards, and accountability in all accounting and finance practices, fostering trust and responsibility in organizational and societal contexts.
4. Foster Lifelong Learning and Adaptability
Cultivate a commitment to lifelong learning by encouraging curiosity, self-reflection, and the ability to adapt to evolving accounting standards, financial regulations, and technological advancements in the field.
5. Communicate Financial and Managerial Information Effectively
Develop the skills to prepare, interpret, and effectively communicate financial and managerial information to diverse stakeholders, supporting informed decision-making in dynamic business environments.
Course Learning Outcomes (CLO)
After successfully completing this course, the students will be able to:
CLO #1: Interpret and apply IAS and IFRS, including IFRS 1, 3, 7, 9, 10, 16, and 17, in financial reporting.
CLO #2: Prepare specialized accounts for hire purchase, insurance claims, and investments.
CLO #3: Evaluate profit and loss prior to incorporation and address complex corporate scenarios.
CLO #4: Consolidate financial statements for holding companies and banking companies.
CLO #5: Analyze and synthesize advanced accounting topics like amalgamation, capital restructuring, and social accounting.
Course Schedule
| Lesson 1: Advanced Accounting Orientation |
| Lesson 2: Financial Report |
| Lesson 3: IFRS 1 First-Time Adoption of IFRS |
| Lesson 4: Tax Accounting |
| Lesson 5: IAS 12 Income Taxes |
| Lesson 6: IAS 29 Financial Reporting in Hyperinflationary Economies |
| Lesson 7: IAS 40 Investment Property |
| Lesson 8: Hire Purchase Accounts |
| Lesson 9: Insurance Claims |
| Lesson 10: IFRS 9 Financial Instruments |
| Lesson 11: Banking Companies Basics |
| Lesson 12: Banking Companies Advanced |
| Lesson 13: IFRS 3 Business Combinations |
| Lesson 14: Company Accounts |
| Lesson 15: Holding Companies (I) |
| Lesson 16: Holding Companies (II) |
| Lesson 17: Profit and Loss Prior to Incorporation |
| Lesson 18: Amalgamation |
| Lesson 19: Capital Reduction |
| Lesson 20: IFRS 16 Leases |
| Lesson 21: Underwriting of Shares and Debentures |
| Lesson 22: IFRS 7 Financial Instruments Disclosures |
| Lesson 23. IFRS 15 Revenue from Contracts with Customers |
| Lesson 24: IFRS 10 Consolidated Financial Statement (I) |
| Lesson 25: IFRS 10 Consolidated Financial Statement (II) |
| Lesson 26: IFRS 17 Insurance Contracts |
| Lesson 27: Social Accounting |
| Lesson 28: Review and Discussions |
Recommended Books
Doupnik, T. S., & Perera, H. (2018). International accounting (9th ed.). McGraw-Hill Education.
Harrison, W. T., & Horngren, C. T. (2019). Financial accounting (11th ed.). Pearson.
Helm, P. S., & Jones, S. D. (2017). Advanced financial accounting (8th ed.). McGraw-Hill Education.
Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2019). Intermediate accounting (16th ed.). Wiley.
Spiceland, J. D., Sepe, J. F., & Tomassini, L. A. (2020). Intermediate accounting (9th ed.). McGraw-Hill Education.
Warren, C. S., Reeve, J. M., & Duchac, J. E. (2020). Financial and managerial accounting (15th ed.). Cengage Learning.
Pre-requisite
The Advanced Accounting course requires completion of the Intermediate Accounting course. Students should have a solid understanding of financial accounting principles, the preparation of financial statements, and familiarity with core IAS and GAAP standards.
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