Rationale

Advanced Financial Reporting delves into complex accounting standards, regulations, and practices, allowing students to deepen their understanding of financial reporting beyond basic concepts covered in introductory courses.  Students are provided with the expertise needed to navigate evolving financial reporting standards effectively, assess the financial health and performance of diverse entities accurately as well as understand intricate financial transactions while upholding professional and ethical standards.

The aim of this course is to equip students with the conceptual knowledge and professional competence in analysing financial statement using complex accounting standards.

Learning Outcomes

At the end of the course students will be expected to:
(i)   Determine the proper accounting treatment for PPE.
(ii)  Prepare consolidated financial statements for complex and diverse entities. 
(iii) Communicate the significance of current issues and developments in the financial reporting of ESG issues. 
(iv) Apply the principles of fair value measurement as mandated by relevant IFRS standards.
(v)  Apply the principles of recognition and measurement for financial instruments, including the initial recognition criteria and subsequent measurement rules for both financial assets and financial liabilities.