Bangor University
Transfer Abroad Undergraduate Programme
Module Implementation Plan
MODULE:
INTAKE:
ACTIVITY TYPES:
ACF- 201 Principles of Financial Accounting
ACF- 202 Intermediate Technical Financial Accounting
2011
Lecture, presentation, quiz, exam, workshop
LECTURER:
Murray Smart
SEMESTER:
Start Date: March 18, 2013
End Date: April 12, 2013
Year
III
Semester
2013 Spring
Academic weeks
Module Code
Week 1~4
18 Mar- 12 April 2013
ACF-201
ACF-202
Module Name
Principles of Financial Accounting
Intermediate Technical Accounting
Credits
Lecture hrs/week
Tutorial
Hrs/week
10
Mon ~Thu Fri
0830~1100 0830~1030
Mon ~Thu
1330~1530
10
Weeks
4
Course Detail: This course introduces students to more advanced technical financial accounting and analysis. Broadly the course consists of three
major topics, with a review of the place of financial reporting in the modern business world included in all three topics. The first topic and the basis of
the midterm paper is the analysis of complex sets of financial reports, in this case the annual reports of J D Wetherspoon Plc for 2012. Students will be
expected to be able to apply ratios to the accounting numbers to determine the status of the company and present a report focused on the users of
financial statements. The second topic is the Regulatory Framework of financial reporting, paying particular attention to the purpose of the
International Accounting Standards and their use in financial reporting. This part of the course examines the standards for Assets (IAS 16, Property,
Plant and Equipment, IAS 36, Impairment, IFRS 5, Non-Current Assets Held for Sale and Discontinued Operations, IAS 38, Recognition of Intangible
Assets), Leases (IAS 17 Leases and the problems with Off Balance Sheet Finance) and Taxation (IAS 12, FRS 19) as well as the Regulatory issues
surrounding Share Capital and the Balance Sheet. The third Section of the course introduces Group Accounting and the technical requirements for the
preparation of consolidated financial statements, with the introduction of Subsidiary Companies, Associated Companies and Special Purpose Entities.
Assessment
Assessment Types
Class Participation
Attendance
Quiz I
Quiz II
Group Paper
Final Exam
-
Date
Value
N/A
N/A
N/A
N/A
Friday 29th March by 1200hrs to Tutors Office
Friday 12th April, time TBA
Paper Assignment (if any)
30%
70%
Week
Activity
Type
Scheduled
Contact
Hours
Activity Details
Core Reading +
Additional
Reading +
Practice Material
Learning Outcomes
Student
Preparation for
Tutorial
Lecture
2.5hr
Introduction to the Course and Review of the
Role of Financial Accounting in the modern
business world
Elliott
Chs 1-4
Tutorial
2hr
Analysis of Accounting Information – Part
One
Students will be able to:
*Understand the dual purpose of
Financial Accounting as a record of
transactions and as the main form of
information available to users of
accounts.
Review Elliott
Chapters in
order to be able
to contribute to
the analysis of
Briscoe’s
Week 01
Monday
Mar 18
*Understand the differences between
cash accounting and accrual
accounting.
Students will be given access to Briscoe
Group Ltd’s annual reports for 2012 and will
begin to apply ratio techniques to the
accounting numbers in preparation for the
written assignment.
Tuesday
Mar 19
Lecture
2.5hr
Review of the preparation and presentation of
financial statements
Elliott
Chs 3-4
*Understand the Purpose of the
Balance Sheet and the Income
Statement and its relationship to the
Balance Sheet
Review Elliott
Chapters in
order to be able
to contribute to
the analysis of
*Distinguish between Assets, Liabilities Briscoe’s
and Equity and understand basic Equity
forms
*Distinguish between Revenue and
Expenses (including a review of the
Matching Concept)
*Understand the role of the Balance
Sheet and Income statements as sources
of information to users of accounts
Tutorial
2hr
Analysis of Accounting Information – Part
Two
*Begin to apply common ratio
techniques to financial statements
Balance Sheet - its role in communicating
information to users. Liquidity, Return on
Capital and Common Investor ratios and
working capital management
Income statement – its role in communicating
information to users. Profitability, asset
utilisation
Wednesday
Mar 20
Lecture
2.5hr
Analysis and interpretation of financial
statements
Elliott
Chs 27-29
plus Handout
*Understand the importance of EPS
and P/E ratio as measures of financial
performance of a company
*Adjust for Share Splits (p.683),
Warrants and Options (p.691), and
recognise the effect on EPS – see Ch 27
*Understand, apply and evaluate ratios
in the analysis of financial statements
*Explain the selective use of ratios to
satisfy specific user objectives
Tutorial
2hr
Analysis of Accounting Information – Part
Three
Balance Sheet - Liquidity, Return on Capital
and Common Investor ratios and working
capital management
Income statement – its role in communicating
information to users of accounts, especially
the review of Operational Performance,
Efficiency Ratios and Margins
Review Elliott
Chapters in
order to be able
to contribute to
the analysis of
Briscoe’s
Thursday
Mar 21
Lecture
2.5hr
Review of the Statement of Cashflow
Elliott
Chs 1 & 5
plus Handout
*Understand the difference between the Review Elliott
accounting convention of Profit and the Chapters in
real cash position of a company
order to be able
to contribute to
*Reconcile Cashflow to the Balance
the analysis of
Sheet
Briscoe’s
*Understand the importance of cash to
a business and adequate capital
management in the accounts
Tutorial
2hr
Analysis of Accounting Information - Part
Four
Concentrating on the Statement of Cash Flow
and its role in analysis, distinguishing between
accounting concepts of ‘profit’ and ‘assets’
and looking at real cash situations and their
importance to companies.
Friday
Mar 22
Lecture
2hr
Weekly Review, including Quiz (not weighted
for final grade)
Elliott
Chs 1-5 & 2729
Revision for
Weekly review
Test
Details of Assignment
Tutorial
Week 02
Handout of J D Wetherspoon Plc’s Financial
Statements, Assignment Guidance and various
sources of extra information.
Review
Coursework
Guidance,
prepare any
questions for
tutor for
clarification
Monday
Mar 25
Lecture
2.5hr
Introduction to the Regulatory Framework
(IFRS)
Tutorial
2hr
Individual time with Tutor and Group to
complete the assignment
Lecture
2.5hr
Accounting for Assets
Tuesday
Mar 26
Tutorial
2hr
Individual time with Tutor and Group to
complete the assignment
Elliott
Chs 9-10
*Distinguish between GAAP and IFRS. Coursework
*Understand the role of the Regulatory tutorials,
Framework,.
prepare points
one through two
*Recognise the theoretical
of the
underpinning to the IASB’s standard
coursework
setting process.
plan
*Understand the complexity and
importance of the global mission and
scope of the IFRS.
*Explain the importance of
harmonisation of accounting standards
Elliott
Chs 17 & 19
IAS 16,
IAS 36,
IFRS 5,
IAS 38
*Recognise and record assets and
associated costs on the Balance Sheet
*Understand the importance of
intangibles and recognise and record
these in the financial statements
*Understand the concepts of
impairment
Wednesday
Mar 27
Lecture
Tutorial
2.5hr
2hr
Accounting For Leases
Individual time with Tutor and Group to
complete the assignment
Elliott
Ch 18,
IAS 17
*Distinguish between Financial and
Operational Leases
*Record appropriate figures in the
financial statements
*Understand the problems with Off
balance Sheet finance
Calculate
appropriate
ratios of the
financial
statements of J
D Wetherspoon
for discussion
with tutor
Prepare the
report with time
for review by
Tutor
Thursday
Mar 28
Lecture
2.5hr
Taxation and Share Capital
Tutorial
2hr
Individual time with Tutor and Group to
complete the assignment
Elliott
Chs 12 & 16,
IAS 12,
FRS 19
*Understand the nature of Taxation,
and Deferred Taxation in relation to the
financial statements
*Record appropriate adjustments in the
Financial Statements
*Understand share offers and the
effects on the financial statements –
distributable profits and reduction of
capital
Friday
Mar 29
Lecture
Tutorial
2hr
Weekly Review, including Quiz (not weighted
for final grade)
Individual time with Tutor and Group to
complete the assignment
Paper Assignment Hand In Deadline
Week 03
Revision for
Weekly review
Test
Monday
Apr 1
Lecture
2.5hr
Introduction to Group Accounting
Elliott
Chs 22-25
*Understand the various forms of inter
company structure, Associates and
Subsidiaries as well as Special Purpose
Entities
Prepare the
Tutorial
material from
the lecture
*Recognise the need for consolidation
of the financial statements to provide
information for the users of accounts.
Tuesday
Apr 2
Wednesday
Apr 3
Tutorial
2hr
Consolidated Financial Statements – Part One
Lecture
2.5hr
Fair Value Adjustments, Goodwill and the
Regulatory Framework
Tutorial
2hr
Consolidated Financial Statements – Part Two
Lecture
2.5hr
Intra Company Group Transactions
Tutorial
2hr
Consolidated Financial Statements – Part
Three
Elliott
Chs 22-25
*Account for the value of companies at
and after the date of acquisition
according to the guidance of the
Regulatory Framework
Prepare the
Tutorial
material from
the lecture
*Understand the use of fair value
adjustments and be able to adjust the
consolidated accounts accordingly
Elliott
Chs 22-25
*Understand the need for elimination of Prepare the
intra company transactions
Tutorial
material from
*Be able to record appropriate figures
the lecture
in the consolidated accounts
Thursday
Apr 4
Friday
Apr 5
Lecture
2.5hr
Associated Companies, Joint Ventures and
Special Purpose Entities
Tutorial
2hr
Consolidated Financial Statements – Part Four
Lecture
2hr
Weekly Review, including Quiz (not weighted
for final grade)
Elliott
Chs 22-25
*Distinguish the different types of
company structures used in
consolidated accounting, focusing on
the definition of control as the basis of
consolidation, and criticisms of this
definition
Prepare the
Tutorial
material from
the lecture
Prepare the
Tutorial
material from
the lecture
Consolidated Financial Statements – Part Five
Tutorial
Week 04
Monday
Apr 8
Tuesday
Apr 9
Lecture
2.5hr
Review Lecture One – Standard Setting and
the Regulatory Framework
Tutorial
2hr
Examination Practice
Lecture
2.5hr
Review Lecture Two – Applying the IAS to
the Financial Statements
Tutorial
2hr
Examination Practice
Review Pack
One
Prepare the
questions from
review lecture
one
Review Pack
Two
Prepare the
questions from
review lecture
two
Wednesday
Apr 10
Thursday
Apr 11
Friday
Apr 12
Lecture
2.5hr
Review Lecture Three - Consolidated
Financial Statements
Tutorial
2hr
Examination Practice
Lecture
2.5hr
Final Exam Preparation
Tutorial
2hr
Final Exam Preparation
Final Exam
Review Pack
Three
Prepare the
questions from
review lecture
three
Mock
Examination
and Guidance
Mock
Examination