GRA 6238 Financial Accounting and Taxation
GRA 6238 Financial Accounting and Taxation
The course consists of four parts: regulatory environment for financial reporting in accordence with international financial reporting standards (IFRS) (15%), preparation of separate financial statements and consolidated financial statements (45%), management working capital and sources of short-term finance (15%), and fundamentals of business taxation (25%).
This course is closely related to the Financial Strategy course of the CIMA professional qualification as Chartered Global Management Accounting™.
The students shall obtain knowledge about:
- The main elements and key principles underpinning separate and consolidated financial statements prepared according to IFRS
- The sources of short-term finance and cash investment
- The types of taxation that typically apply to an incorporated entity and the regulatory environment for taxation
- The taxation issues that may apply to an incorporated entity that operates internationally
The students shall be able to
- Explain the main elements and key principles underpinning financial statements prepared according to IFRS
- Prepare the separate financial statement and the consolidated financial statement of an entity according to IFRS
- Describe the sources of short-term finance and cash investment
- Evaluate the working capital position of an entity
- Analyse the short-term cash position of an entity
- Discuss the types of taxation that typically apply to an incorporated entity and the regulatory environment for taxation
- Compute corporate income tax and capital tax
The students should be able to critically assess accounting regulation and practice under IFRS.
- Key topics under IFRS
- Separate and consolidated financial statements
- Sources of short-term finance and cash investment
- Analyse of working capital and short-term cash position
- Corporate taxation
Please note that while attendance is not compulsory in all courses, it is the student’s own responsibility to obtain any information provided in class that is not included on itslearning or text book.
Computer-based tools
There is a consistent and continuous integration of computer-based tools across all course topical areas. Students can expect to perform most, if not all, coursework online, using various computer tools.
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.
| 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: GRA62381 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.