GRA 6238 Financial Accounting and Taxation

GRA 6238 Financial Accounting and Taxation

Course code: 
GRA 6238
Department: 
Accounting, Auditing and Business Analytics
Credits: 
6
Course coordinator: 
Stefan Anchev
Product category: 
Master
Portfolio: 
MSc in Business - Accounting and Business Control
Semester: 
2019 Autumn
Active status: 
Active
Teaching language: 
English
Course type: 
One semester
Introduction

The course consists of four parts: 1) regulatory environment for financial reporting in accordance with the International Financial Reporting Standards (IFRS) (15%), 2) preparation of separate and consolidated financial statements (45%), 3) management of working capital, cash and sources of short-term finance (15%) and 4) fundamentals of business taxation (25%).

This course is closely related to the Financial Reporting and Taxation course of the Chartered Institute of Management Accountants (CIMA) professional qualification as Chartered Global Management Accounting™ (CGMA®).

Learning outcomes - Knowledge

The students shall obtain knowledge about:

  • The process of regulating the financial reporting information of entities
  • The main elements of and key principles underpinning the separate and the consolidated financial statements of entities prepared in accordance with the IFRS
  • The working capital position, the cash position and the sources of short-term finance of entities
  • The types of taxation that typically apply to entities with domestic and international operations and the regulatory environment for taxation
Learning outcomes - Skills

The students shall be able to:

  • Explain the need for and the process of regulating the financial reporting information of entities
  • Explain the main elements of and key principles underpinning the separate and the consolidated financial statements of entities prepared in accordance with the IFRS
  • Prepare the separate and the consolidated financial statements of entities in accordance with the IFRS
  • Evaluate the working capital position, analyze the cash position and describe the sources of short-term finance of entities
  • Discuss and explain the types of taxation that typically apply to entities with domestic and international operations and the regulatory environment for taxation
  • Compute corporate income taxes and capital taxes
General Competence

Students should be able to critically assess the accounting regulation and practice under IFRS.

Course content
  • Regulatory environment for financial reporting in accordance with the International Financial Reporting Standards (IFRS)
  • Preparation of separate and consolidated financial statements
  • Management of working capital, cash and sources of short-term finance
  • Business taxation
Teaching and learning activities

Computer-based tools
Students can expect to perform most, if not all, coursework online, using various computer tools.

Software tools
Software defined under the section "Teaching and learning activities".
Additional information

Please note that, while attendance is not compulsory, students are responsible for obtaining any information provided in class.

Qualifications

All courses in the Masters programme will assume that students have fulfilled the admission requirements for the programme. In addition, courses in second, third and/or fourth semester can have specific prerequisites and will assume that students have followed normal study progression. For double degree and exchange students, please note that equivalent courses are accepted.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
GRA62381
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • IFRS Standards (Red Book)
Individual Written examination under supervision
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • BI-approved exam calculator
  • Simple calculator
  • Bilingual dictionary
  • IFRS Standards (Red Book)
Duration:3 Hour(s)
Comment:Written examination under supervision
Exam code: GRA62381
Grading scale:ECTS
Resit:Examination when next scheduled course
Type of Assessment: 
Ordinary examination
Total weight: 
100