MGT401 : Financial Accounting II

Course Overview

Course Synopsis

This course includes introduction of different business entities, formation and meetings of companies,relationship between companies,legal documents of companies,share capital. Preparation,Presentation,Measurement,Recognition criteria and Disclosure requirements of Financial Statements including fixed assets,other non-current assets,inventories,presentation of assets and liabilities sides in balance sheet,investments,long term advances and deposits,long term liabilities,leases(including finance and operating lease),current liabilities,contingent liabilities and contingent assets,events after balance sheet date and earning per share (EPS).These all concepts will be covered with respect to Companies Ordinance 1984 and International Accounting Standards (IAS)/IFRS.

Course Learning Outcomes

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

  • Recognize the contents and uses of financial statements
  • Understand the role of financial accounting as the common language of business to all internal and external users of financial data
  • Assessment both for the process of preparation and presentation of financial statements
  • Construct and make decisions from financial statements
  • Identify and analyze the key concepts,terminology and guiding principles of IAS/IFRS accounting practices
  • Acquire information about the local legislation of Companies Ordinance 1984 as guiding principles for accounting practices and formation of companies
  • Recognize the key ethical implications of purposeful accounting decisions

Course Calendar

Types of Business Entities1Handouts01 - 03
Formation of Companies and Meetings2Handouts04 - 07
Relationships between Companies3Handouts08 - 11
Preparation and Presentation of Financial statements4Handouts12 - 17
Property, Plant and Equipment5Handouts18 - 21
Revaluation of Assets6Handouts22 - 27
Property, Plant & Equipment and Borrowing Cost7Handouts28 - 33
Intangible Assets – Companies Ordinance 19848Handouts34 - 39
Intangible Assets – IAS 38 & Investment in Associates9Handouts40 - 44
Other Non Current Assets10Handouts45 - 48
Inventories11Handouts49 - 55
Valuation of Inventories12Handouts56 - 60
Assignment No. 01
Current Assets, Fourth Schedule -Companies Ordinance 198413Handouts61 - 65
Presentation and Disclosure of Assets in Balance Sheet14Handouts66 - 71
Long Term Investments, Presentation and Disclosure15Handouts72 - 76
Quiz No.1
Long Term Investments16Handouts77 - 83
Risks & Disclosure under IAS 32 and 39 & Long Term Loans17Handouts84 - 88
Long Term Deposits and Prepayments & Current Assets18Handouts89 - 93
IASB’s Framework19Handouts94 - 99
IASB’s Framework (Contd.)20Handouts100 - 105
Presentation of Liabilities in Balance Sheet21Handouts106 - 111
Liabilities side area of Balance Sheet (Share Capital and Reserves)22Handouts112 - 115
Mid Term Examination
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