GRA 6238 Financial Accounting and Taxation
GRA 6238 Financial Accounting and Taxation
The course consists of four parts: (1) regulatory environment for financial reporting (15%), (2) preparation of separate and consolidated financial statements in accordance with the International Financial Reporting Standards (IFRS) (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®).
Students shall obtain knowledge about:
- The process of regulating the financial reporting of entities
- The main elements of and key principles underpinning the separate and the consolidated financial statements of entities prepared in accordance with 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
Students shall be able to:
- Explain the need for and the process of regulating the financial reporting of entities
- Explain the main elements of and key principles underpinning the separate and the consolidated financial statements of entities prepared in accordance with IFRS
- Prepare the separate and the consolidated financial statements of entities in accordance with 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
Students should be able to critically assess the accounting regulation and practice under IFRS.
- Regulatory environment for financial reporting
- Preparation of separate and consolidated financial statements in accordance with IFRS
- Management of working capital, cash and sources of short-term finance
- Business taxation
The course involves:
- Lectures
- Interactive tutorials
- Case studies
- Exercises (with numerical problems)
Students can expect to perform most, if not all, coursework online, using various computer tools.
While attendance is not compulsory, students are responsible for obtaining any information provided in class.
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.
Disclaimer
Deviations in teaching and exams may occur if external conditions or unforeseen events call for this.
| Assessments |
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Exam category: Submission Form of assessment: Written submission Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 3 Hour(s) Comment: Written examination under supervision Exam code: GRA 62381 Grading scale: ECTS Resit: Examination when next scheduled course |
A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 6 ECTS credits corresponds to a workload of at least 160 hours.