MPAC602: Advanced Professional Accounting Principles
Course Outline: Term Two, 2014
Lectures
Teaching Staff
Course
Description
th
Room 526, 5 Floor, Commerce & Law Building; Wednesday 1:00pm – 4:00pm
Catherine McMillan
This course examines two main areas of advanced professional accountancy, including
advanced financial reporting standard analysis and review and financial risk
management. The course develops the advanced principles required for those looking to
progress through the MPA qualification.
Advanced Accounting Principles
Learning
Outcomes
1.
Demonstrate a theoretical analysis of key New Zealand and International
developments within financial reporting.
2.
Critically evaluate a company’s financial position and performance through the
application of advanced analysis techniques.
3.
Compose a detailed report on a company’s compliance with New Zealand and
International financial reporting standards.
Business Finance
4.
Examine financial risk management theory and analyse systems for the monitoring,
management and mitigation of such risks.
5.
Demonstrate a conceptual understanding of derivative financial instruments as they
apply to the management of financial risks.
Financial Reporting
(Learning Outcomes: 1, 2,3)
 Accounting Theory
Topics

Future direction in accounting and sound financial management

SDR reporting

Ethics in accounting/business
 Detail review and application of:

NZ IAS 1, Presentation of Financial Statements

NZ IAS 18, Revenue

NZ IAS 21, Effects of Changes in Foreign Exchange Rates

NZ IFRS 7, Financial Instruments: Disclosures

NZ IFRS 9, Financial Instruments

NZ IFRS 13, Fair value Measurement
MPAC602: Term Two, 2014
 Analysis of Financial Statements, including:

Detailed ratio analysis

Trend and sensitivity analysis

Qualitative consideration

Major impact due to unusual events
Finance risk management
(Learning Outcomes: 4,5)
 Critique of financial risk management techniques, including:


Hedging using derivative instruments
●
Swaps
●
Options
●
Futures contracts
●
Forward exchange
Analysis of the treasury management function within organisations
Required Text:
Textbook
Deegan, C, Samkin, G. (2013). New Zealand financial accounting;
6th ed; McGraw-Hill, 2013
The text is available for purchase from UBS (The University Bookshop) and is also
available on 3-hour restricted loan in the Central Library.
Mitrione, L., M. Rankin, K Chambers, J.J. Weygandt, D .E Kieso and P. D Kimmel (2013).
rd
Principles of Financial Accounting, 3 edition, Milton Qld: John Wiley & Sons Australia
Ltd.
Additional
reading
Alfredson, K. et al. (2010). Applying international financial reporting standards; 2nd ed;
John Wiley & Sons Australia, 2010.
New Zealand Institute of Chartered Accountants; Chartered accountants journal of New
Zealand (Topical articles).
A number of NZ IFRS and NZ IAS’s.
Readings as advised on LEARN.
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MPAC602: Term Two, 2014
Assessment
Summary
Type
Due
Weight
Essay
1:00pm, Wednesday 21 May 2014
20%
Group Presentation
Weeks 3 - 6 (Group mark)
20%
Group Project
Distributed Wednesday 4 June; Due 1:00pm
Wednesday 25 June 2014 (Group mark)
20%
Participation
Weekly
10%
Exam
Distributed 25 June; Due 10:00am, Monday 7 July
30%
Note that aegrotats are not available for any item of assessment in this course without the
prior approval of the MBA Director in consultation with the lecturer. Wherever possible
and with the lecturer’s agreement, a replacement assessment will be sought in each case
where a student has not been (with valid reason) able to submit or has been
disadvantaged in some way.
Lecture Contact hours
30 hours
Preparation for lectures
35 hours
Essay
20 hours
Group Presentation and Project
45 hours
Exam (including preparation)
20 hours
Workload
Total
MPA Policies
150 hours
See current Student Guide - Copies available from Executive Development Programmes
Office
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MPAC602: Term Two, 2014
Lecture Schedule
Week/Date
Topic
Reading
Week 1: 30 April
Accounting Theory
D&S Chapters 2 and 3
Week 2: 7 May
 Future directions
D&S Chapter 32
 SDR
Articles on LEARN
Accounting Theory
Articles on LEARN
 Ethics in accounting/business
Week 3: 14 May
Week 4: 21 May
Week 5: 28 May
Week 6: 4 June
Week 7: 11 June
Financial reporting framework
D&S Chapter 17
NZ Framework
D&S Chapter 4, pp133-135
Presentation and disclosure
D&S Chapter 10, pp320-321
NZ IAS 1 Presentation of Financial Statements
NZ Framework
NZ IAS 8 Accounting Policies, Changes in
Accounting Estimates and Errors
NZ IAS 1
Financial Instruments
D&S Chapter 15
NZ IFRS 7 Financial Instruments: Disclosures
NZ IFRS 7
NZ IFRS 9 Financial Instruments (2013)
NZ IFRS 9
Revenue recognition
D&S Chapter 16
NZ IAS 18 Revenue
NZ IAS 18
Fair Value and Foreign Currency
D&S Chapters 30 and 31
NZ IFRS 13 Fair Value Measurement
NZ IFRS 13
NZ IAS 21 Effects of Changes in Foreign
Exchange Rates
NZ IAS 21
Analysis of Financial Statements
Mitrione et al. Chapter 19
NZ IAS 8
D&S Chapter 23
Week 8: 18 June
Analysis of Financial Statements
(as above)
Week 9: 25 June
Financial Risk Management
D&S Chapter 15
Week 10: 2 July
Treasury Management Function
TBA
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