Archived Version

The Degree Regulations and Programmes of Study has been formulated as a dynamic online publication in order to provide the most up to date information possible. Master versions of the Degree Regulations and Programmes of Study incorporating all changes to date are archived twice a year on 1 September and within the first three University working days prior to the start of Semester 2 in January. Please note that some of the data recorded about this course has been amended since the last master version was archived. That version should be consulted to determine the changes made.

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Theoretical and Practical Issues in Financial Accounting (U04185)

? Credit Points : 20 ? SCQF Level : 10 ? Acronym : MSE-4-TPIFA

This course is divided into three related parts: Part 1 introduces students to the elements of Financial
Accounting. It reflects how theory and practices interact in the domain of financial accounting theory and
relating them to the issues as present in the development of a conceptual framework of accounting and the
accounting standard-setting process; Part 2 covers unresolved issues in conventional financial accounting
and reporting in the areas of accounting for assets, liabilities and income determination; and Part 3 examines
emerging issues in financial accounting and reporting with special emphasis on creative accounting and
international accounting.
This course aims to advance and develop students’ appreciation of financial accounting issues from both the
theoretical and professional perspectives.

Entry Requirements

? Pre-requisites : Advanced Financial Accounting (AC0017) and Auditing (AC0018).

Subject Areas

Home subject area

Accounting, (Management School and Economics, Schedule H)

Delivery Information

? Normal year taken : 4th year

? Delivery Period : Not being delivered

? Contact Teaching Time : 2 hour(s) per week for 10 weeks

All of the following classes

Type	Day	Start	End	Area
Lecture	Thursday	11:10	13:00	Central

Summary of Intended Learning Outcomes

Students should understand and appreciate the unresolved issues in the Financial Accounting area and be
able to apply such knowledge in interpreting transactions that resulted from new business methods and
recording them in the accounts of companies. Knowledge gained from the course will enable students to
think critically and function as integral members of management decision-making teams and enable them to
make better informed decisions in their accounting careers. The various group projects and presentations
will train students to develop teamwork and soft-skill competencies.

Assessment Information

Assessment will be based upon performance in a two-hour final examination at the end of the course (60%
of overall course assessment), a team project during the semester (30% of the overall course assessment) and
a group presentation (10% of the overall course assessment).