GRA 6238 Financial Accounting and Taxation
GRA 6238 Financial Accounting and Taxation
Firms prepare financial statements, which are one of the primary means of communication with external stakeholders, and they pay taxes, which can be substantial. This course provides insights into the fundamental determinants and consequences of both.
The course consists of the following components: (1) regulatory environment for financial reporting, (2) International Financial Reporting Standards (IFRS), (3) taxation, and (4) IFRS Sustainability Disclosure Standards.
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 Accountant (CGMA).
Students shall obtain knowledge of the determinants and the consequences of:
- The information environment of firms, especially with respect to the process of regulating their financial reporting
- Financial statements prepared in accordance with IFRS
- Different types of taxes
- The IFRS Sustainability Disclosure Standards
Students shall be able to:
- Identify the major regulators and accounting standard-setting boards, describe their role and explain why they regulate financial reporting
- Identify and explain the main elements and characteristics of financial statements, as outlined in the IFRS Conceptual Framework
- Explain and apply specific IFRS to prepare basic financial statements
- Distinguish between, explain and calculate different types of taxes
- Explain and apply specific IFRS Sustainability Disclosure Standards
Students shall be able to use their knowledge and skills to solve basic problems related to financial accounting and taxation.
- Regulatory environment for financial reporting
- IFRS
- Taxation
- IFRS Sustainability Disclosure Standards
The course involves:
- Lectures
- Workshops (for solving numerical problems)
- Interactive online tutorials (to be solved individually or in groups)
- Case studies (to be discussed in groups)
- Reading list of academic papers
Students can expect to perform most, if not all, coursework online, using various computer tools.
It is the student’s own responsibility to obtain 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 |
|---|
Exam category: Submission Form of assessment: Structured test Invigilation Weight: 100 Grouping: Individual Support materials:
Duration: 3 Hour(s) Comment: Examination using WISEflow under supervision Exam code: GRA 62381 Grading scale: ECTS Resit: Examination when next scheduled course |
| Activity | Duration | Comment |
|---|---|---|
Teaching | 36 Hour(s) | |
Student's own work with learning resources | 36 Hour(s) | |
Individual problem solving | 54 Hour(s) | |
Digital resources
| 21 Hour(s) | |
Case teaching | 10 Hour(s) | |
Examination | 3 Hour(s) |
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.