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FIN611 : Advanced Financial Accounting

Course Overview

Course Synopsis

This is an advanced level course in financial accounting designed to equip the learner with skills to analyze and interpret financial statements of any business entity in general and a company in particular in the light of local and international accounting standards applicable in Pakistan. The course focuses on some advance topics in financial accounting like Single entry system, Accounting for Non-profit organizations, Department Accounting, Branch Accounting, Partnership Accounting, and Company Accounting. The course also discusses IASB’s Conceptual Framework for Financial Reporting and some valuable International Accounting Standards like, Events after the Balance Sheet Date (IAS - 10), Provisions, Contingent Liabilities and Contingent Assets (IAS – 37), Accounting Policies, Changes In Accounting Estimates and Errors (IAS – 8), Borrowing Cost (IAS – 23), Earnings per Share (IAS – 33), and Group Accounts (IAS – 27).

Course Learning Outcomes

At the end of the course, you should be able to:

  • Prepare financial statements for different entities complying with the requirements of the relevant regulatory authorities.
  • Apply and Interpret specified International Financial Reporting Standards.
  • Analyze and interpret the financial statements.
  • Evaluate and review the group financial statements prepared by single subsidiary company.

Course Calendar

TopicLectureResourcePage
Accounting For Incomplete Records (Single Entry)1,2Handouts1-12
Conversion of Single Entry in Double Entry Accounting System3Handouts13-19
Calculation of Missing Information (Single Entry)4Handouts20-23
Calculation of Markup and Margin (Single Entry)5Handouts24-28
Accounting System in Non-Profit Organizations6Handouts29-33
Accounting System in Non-Profit Organizations7Handouts34-39
Financial Statements of Non-Profit Organizations8,9Handouts40-49
Departmental Accounts10Handouts50-53
Branch Accounting System11Handouts54-58
Branch Accounting System12Handouts59-64
ASSIGNMENT # 1
Branch Accounting - Stock and Debtor System13Handouts65-69
Branch Accounting - Stock and Debtor System14Handouts70-72
Branch Accounting - Stock and Debtor System15Handouts73-76
Branch Accounting - Incorporation of Branch16Handouts77-81
BRANCH ACCOUNTING (Foreign branch)17Handouts82-85
QUIZ # 1
Essentials of Partnership18Handouts86-90
Partnership Accounts19Handouts91-95
COMPANY ACCOUNTS20Handouts96-102
Company Accounts21,22Handouts103-120
Mid Term Exams
COMPANY ACCOUNTS23Handouts121-125
Returns on Financial Resources24Handouts126-134
GDB 1
IASB’s Framework & Element of Financial Statement25Handouts135-139
IASB’s Framework & Element of Financial Statement26Handouts140-142
IAS 10 – Events after the Balance Sheet Date27Handouts143-150
QUIZ # 3
IAS – 37 Provisions, Contingent Liabilities and Contingent Assets28Handouts151-160
IAS – 8 Accounting Policies, Changes In Accounting Estimates and Errors29Handouts161-169
IAS – 8 Accounting Policies, Changes In Accounting Estimates and Errors30Handouts170-174
IAS – 23 Borrowing Cost31,32Handout175-187
IAS – 33 Earnings Per Share33Handouts188-190
IAS – 33 Earnings Per Share34Handouts191-194
IAS – 33 Earnings Per Share35Handouts195-201
Group Accounts36- 38Handouts202-217
QUIZ # 4
Group Accounts39, 40Handouts218-238
Group Accounts41, 42Handouts218-238
Group Accounts43Handouts239-244
Group Accounts44- 45Handouts245-252
Final Term Exams
 
 
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