01
The indicative module outline is as follows:
Semester 2
Elective
Specialisation
Advanced Accounting
6
ECTS Credits
39
Total Teaching Hours
English
Language
None
Prerequisites
No
Open to Erasmus
Module Description
This module provides a technically rigorous treatment of advanced topics in financial accounting, with a particular focus on consolidated financial statements and the complex accounting issues that arise in the context of group structures, business combinations, and inter-entity relationships. Building on students' foundational knowledge of IFRS, the module develops advanced competence in the preparation, presentation, and critical interpretation of consolidated financial statements for complex group structures, including wholly-owned subsidiaries, partially-owned subsidiaries with non-controlling interests, associates, joint ventures, and joint operations. Throughout, students are encouraged to engage critically with primary sources, including IFRS standards, exposure drafts, and academic research, developing the analytical and scholarly competencies necessary for doctoral study and senior professional practice.
Learning Outcomes
Upon successful completion, students will be able to:
- Apply the acquisition method under IFRS 3 to account for business combinations, including the recognition and measurement of identifiable assets and liabilities, the determination of goodwill and bargain purchases, the treatment of non-controlling interests, step acquisitions, and the accounting consequences of losing control over a subsidiary.
- Prepare consolidated financial statements for complex group structures, including the consolidation of wholly-owned and partially-owned subsidiaries, the elimination of intercompany transactions and unrealised profits, the treatment of non-controlling interests, and intragroup dividends, in accordance with IFRS 10.
- Account for investments in associates and joint arrangements under IAS 28 and IFRS 11, applying the equity method to associates and jointly controlled entities, and distinguish between joint operations and joint ventures and their respective accounting treatments in consolidated and separate financial statements.
- Apply advanced firm-level accounting standards, including the classification and measurement of financial instruments under IFRS 9 as well as hedge accounting.
- Critically evaluate the theoretical foundations of consolidation accounting, including the entity, parent, and proprietary theories of consolidation and their implications for the measurement of goodwill and non-controlling interests, and assess the ongoing conceptual and practical challenges in consolidated financial reporting with reference to current IASB projects and academic research.
Module Outline
12 thematic units across the semester.
02
Introduction to Contemporary Issues in Financial Accounting.
03
Banking Accounting.
04
Preparation and Interpretation of the Cash Flow Statements.
05
Accounting for Leasing.
06
Accounting for Factoring.
07
Accounting for Offshore Companies.
08
Accounting for Financial Assets, Securitization and Hedge Accounting.
09
Accounting for Crypto Assets.
10
Special Corporate Forms Accounting.
11
Consolidated Accounting I (IFRS 3, IFRS 10)
12
Consolidated Accounting II (IAS 27, IAS 28, IFRS 11)
Assessment
Description of the assessment process
Assessment Language, Assessment Methods, Formative or Summative, Multiple Choice Test, Short Answer Questions, Essay Development Questions, Problem Solving, Written Assignment, Report/Report, Oral Examination, Public Presentation, Laboratory Paper, Clinical Patient Examination, Artistic Interpretation, Other/Other
Explicitly defined assessment criteria and if and where they are accessible by students are mentioned.
The module assessment language is in English and students are expected to exhibit the required level of proficiency.
The assessment of the course consists of:
Midterm Exam (40%, problem solving)
Final exam (60%, problem solving)
The evaluation criteria across modes of assessment include the following:
Demonstration of key knowledge related to the content of course
Demonstration of an ability to apply the knowledge in a given problem or case study
Critical ability evident in applying appropriate methods/knowledge in a given case and/or developing theory-based and literature based arguments.
Structure and presentation
Use of English language
More detailed assessment criteria will be provided to you in the module handbook document or posted on the course webpage, if deemed necessary.
Suggested Bibliography
- Cottrell, D., Christensen, T. and Budd, C. (2018), Advanced Financial Accounting, McGraw-Hill Education.
- Elliott, B., and Elliott, J. (2015), Financial Accounting and Reporting, Pearson Education.
- Fischer, P. M., Tayler, W.J. and Cheng, R. H., (2015), Advanced Accounting, 12th Edition, Cengage Learning.
- Hoyle, J. B. and Schaefer, T., (2014), Advanced Accounting. McGraw-Hill Higher Education.
- Jeter, D. and Chaney, P.K. (2019), Advanced Accounting, Wiley.
- PFK International, (2021), Wiley 2021 Interpretation and Application of IFRS Standards, Willey.
- Other library sources, including journal articles accessible through the Library, as assigned by the instructor.