Course Code: ACN 6101 Course Title: International Accounting Credits: 3.00
Rationale of the Course:
The International Accounting course introduces students to the accounting issues uniquely confronted by companies involved in international business, how accounting is practiced in each and every country around the world, learning about and comparing the differences in financial reporting, taxation, and other accounting practices that exist across countries, and the rules and regulations issued by international organizations – most notably International Financial Reporting Standards (IFRS) issued by International Accounting Standard Board (IASB).
Course Content:
Introduction to International Accounting: Scope. Importance and features of international accounting, Historical perspective, Contemporary perspective, Growth and Spread of Multinational Operations, Financial Innovation, Global Competition, cross border merger and acquisitions, internationalization of capital market.
International Financial Statement Analysis: Challenges and opportunities cross border analysis, business analysis framework, international business strategy analysis, International financial analysis-ratio analysis, cash flow analysis, common size analysis, regression analysis, coping mechanism and decision making, Managing multinational corporations, characteristics of multinational corporations, MNCs and consolidated financial statements, Accounting Issues of MNCs.
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Accounting for Foreign Operations: Related terminologies, Currency translation of direct business transactions, related mathematics, IAS 21: The Effects of Changes in Foreign Exchange Rates.
International Taxation and transfer pricing: Diversity of national tax system, taxation of foreign source income and double taxation. Tax planning dimensions, international transfer pricing, transfer pricing methodology- comparable uncontrollable price method, comparable uncontrolled transaction method, resale price method, cost plus pricing method, other pricing method.
Global Accounting and Auditing Standards: A survey of international convergence, Overview of major international organizations promoting accounting convergence- IASB, EU, IFAC, ISAR, OECD.
Comparative Accounting-The Americas and Asia, Europe: Some observations about accounting standards and practice, IFRS in the European Union,
Mapping of Course Learning Outcomes (CLOs) with the Program Learning Outcomes (PLOs):
CLO1
Understand the issues including currency translations, external reporting for multinational enterprises and techniques for financial statement analysis for foreign and multinational corporations.
CLO2 Analyzing the comparison of financial reporting policies and financial statements prepared under domestic and international reporting standards and gaining competence as a professional.
CLO3
Explain the notion of global accounting standards, nature and scope of international accounting and accounting issues confronted by companies involved in international trade for better decision making.
CLO4
Evaluate the importance of transfer pricing in achieving goal harmony in decentralized organizations and the worldwide efforts to enforce transfer pricing regulations and tax planning for multinational corporations.
PLO1 PLO2 PLO3 PLO4 PLO5 PLO6
CLO1 3 2 1 2 3 2
CLO2 2 3 2 3
CLO3 3 2 1 2 1 2
CLO4 2 2 2 1 1 2
Mapping Course Learning Outcomes (CLOs) with the Teaching-Learning & Assessment Strategy:
CLOs Teaching-Learning Strategy Assessment Strategy
CLO1 Presentation/Open Discussion/Debate/Written assignment/Group work/Individual work
Test
CLO2 Lecture/Exercise Test/Class Performance
CLO3 Class Performance Test/Assignment
CLO4 Viva-Voce, Analysis of academic texts, cases, and examples Test
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Course Code: ACN 6102 Course Title: Advanced Accounting Theory Credits: 3.00
Rationale of the Course:
This advanced course in financial accounting theory presents an in-depth analysis of the historical development of accounting theory and its application to current and future accounting issues. The course utilizes a case approach that provides a blend of theory, practice, and research. The course enhances critical thinking skills by synthesizing the professional accountant’s understanding and knowledge of accounting theory with the resolution of real-world accounting problems. The course incorporates a global perspective with respect to the development and analysis of accounting standards
Course Content:
Introduction: Accounting and its changing role, users of accounting information, accounting theory and its Need, Research Methodology for the Formulation of Accounting Theory, Nature, Classification and Foundation of Accounting Theory.
Approaches to the Formulation of Accounting Theory: Traditional Approaches, New Approaches, Efficient Market Hypothesis, Capital Market Research and relevance of Accounting Information.
History of Accounting Thought: Early History, Age of Stagnation, Growth of Accounting Knowledge, Development of Accounting Practice and Theory in European Countries, basic Accounting Equation, Development of Accounting Principles, Standards Versus Principles, GAAP, Alternative in Accounting Standards, Comparability of Financial Statements, Structure for Establishment of Accounting Standards.
Structure of Accounting Theory: Elements of the Structures, Accounting Postulates, Theoretical Concepts of Accounting, basic Accounting Principles, Exception or Modify Principles.
Conceptual Framework for Accounting and Reporting: Elements, Accounting Reporting Meaning, Objectives, APB, True Blood Report, Corporate Report, Stamp Report, IASC, ASB, Conceptual Framework, by IASC.
Mapping of Course Learning Outcomes (CLOs) with the Program Learning Outcomes (PLOs):
CLO1 Understand the theoretical basis of current accounting standards
CLO2 Analyze and increase awareness of how theories relate to, or contradict, real world events CLO3 Interpret an interest in current events and issues facing the profession
CLO4 Develop an understanding how scholarly research tests theories and can assist policy development.
PLO1 PLO2 PLO3 PLO4 PLO5 PLO6
CLO1 2 3 1 1
CLO2 1 2 3 1 1
CLO3 2 3 1
CLO4 1 2 2 3 2
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Mapping Course Learning Outcomes (CLOs) with the Teaching-Learning & Assessment Strategy:
CLOs Teaching-Learning Strategy Assessment Strategy
CLO1 Presentation/Open Discussion/Debate/Written assignment/Group work/Individual work
Test
CLO2 Lecture/Exercise Test/Class Performance
CLO3 Class Performance Test/Assignment
CLO4 Viva-Voce, Analysis of academic texts, cases, and examples Test
Course Code: ACN 6103 Course Title: Working Capital Management Credits: 3.00
Rationale of the Course:
After completing this course, the students will be able to evaluate comparative working capital management policy; learn about firms’ profitability, liquidity, and risk and operating flexibility, investigate cash flow cycles & working capital cycles; formulate optimum inventory and receivables management plan; understand the impact of working capital policy on firm’s operations, etc.
Course Content:
Introduction, meaning, concepts, classification and importance of working capital, Relevance of current assets and current liabilities in the balance sheet, Objectives of WCM. Over- capitalization, under- capitalization, zero working capital, Short-term v/s long term financing-A risk-return trade-off. Liquidity v/s profitability trade-off. Cost trade-off, Working capital approaches. Working capital management in some companies.
Relevance of current assets and current liabilities and their inter-relationship, Management of different current assets, Management of Inventory
Management of liquidity-Shift ability theory, Liquidity newly defined, liquidity crises 7 firm level action, Measurement of liquidity.
Window dressing, Certainty model by Baumol, Uncertainty model by Miller & Orr, Cash flow forecasting, Cash collection system.
Financing Working Capital Gap, Sources of working capital finance, Bank finance, other sources of working capital finance and deciding a suitable mix.
Managing Payables and Accruals, The Payment System and Financial Institution Relationships Analysis of Solvency and Financial Flexibility
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Mapping of Course Learning Outcomes (CLOs) with the Program Learning Outcomes (PLOs):
CLO1 Identify and summarize the essential theories and concepts of modern working capital Management
CLO2
Constitute a comprehensive introduction to basic concepts of working capital management. The course will help to be involved with the management of a business to acquire some knowledge of short-term financial management.
CLO3 Apply the theories learned to the real world and use them in short-term financial decision makings.
CLO4 Design optimal working capital policies (cash, inventory, etc.), given the characteristics of the industry and the firm; an optimal overall working capital management policy for the firm CLO 5 Balance firms’ profitability, liquidity, risk and operating flexibility
PLO1 PLO2 PLO3 PLO4 PLO5 PLO6
CLO1 3 2 2 1 2 1
CLO2 3 3 2 2 1 1
CLO3 3 2 3 1 3 2
CLO4 3 2 3 1 2 1
CLO 5 3 3 3 2 1 1
Mapping Course Learning Outcomes (CLOs) with the Teaching-Learning & Assessment Strategy:
CLOs Teaching-Learning Strategy Assessment Strategy
CLO1 Presentation/Open Discussion/Debate/Written assignment/Group work/Individual work
Test
CLO2 Lecture/Exercise Test/Class Performance
CLO3 Class Performance Test/Assignment
CLO4 Viva-Voce, Analysis of academic texts, cases, and examples Test CLO5 Viva-Voce, Analysis of academic texts, cases, and examples Test
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Course Code: ACN 6104 Course Title: Accounting Based on IAS and IFRS Credits: 3.00 Rationale of the Course: This course contributes to the development of the students' learning goal regarding accounting competencies. Students can recognize, develop, measure, record, validate and communicate financial and other related information. Alongside, they can gather knowledge regarding accounting standards.
Course Content:
IAS introduction: Setting accounting standards, Need for International Accounting Standards, The International Accounting Standards Committee (predecessor of the current International Accounting Standards Board), Objectives of standard setting under the Constitution of the IASC Foundation, The IASB, Standard Advisory Council (SAC), International Financial Reporting Interpretation Committee (IFRIC), IASB Due Process.
Presentation of financial statements (IAS 1): Objectives, Components of financial statements, General features of financial statements, Structure and content of financial statements, Statement of financial position (or balance sheet), Statement of comprehensive income, Statement of changes in equity, Notes to financial statements, Interim financial reporting (IAS 34).
Construction Contract (IAS 11): Scope of IAS 11, Key Concepts, Accounting Treatment (Combining and segmenting construction contract), Accounting Treatment (Contract Revenue), Accounting Treatment (Contract Cost), Accounting Treatment (Recognition of Contract Revenue & Expenses), Accounting Treatment (Recognition of expected losses), Disclosure.
Related Party Disclosures (IAS 24): Related Party Disclosures, Objective, Scope, Purpose of related party disclosures, Related party transactions.
Operating Segments (IFRS 8): Scope, Operating Segments, Reportable segments, Disclosure requirements, Secondary segment information.
Inventories (IAS 2): Objective, scope, techniques, measurement principles of inventories, cost formula, inventory valuation, write down to NRV, expense recognition.
Mapping of Course Learning Outcomes (CLOs) with the Program Learning Outcomes (PLOs):
CLO1 Understand financial reporting standards to determine their structures and basis of conclusions.
CLO2 Analyzing different accounting standards and improvising the professional competence to better implication of the standards.
CLO3 Create restatement of financials as per each country’s accounting standards as this is so important in a global economy to facilitate comparison among companies across countries.
CLO4 Explain the structure and content of each component of a set of financial statements alongside the considerations which should be taken into account when preparing financial statements.
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PLO1 PLO2 PLO3 PLO4 PLO5 PLO6
CLO1 2 1 1 3
CLO2 2 2 2 2
CLO3 2 2 1 2 2 1
CLO4 2 2 1 3 2
Mapping Course Learning Outcomes (CLOs) with the Teaching-Learning & Assessment Strategy:
CLOs Teaching-Learning Strategy Assessment Strategy
CLO1 Presentation/Open Discussion/Debate/Written assignment/Group work/Individual work
Test
CLO2 Lecture/Exercise Test/Class Performance
CLO3 Class Performance Test/Assignment
CLO4 Viva-Voce, Analysis of academic texts, cases, and examples Test