Teaching plan for the course unit

 

 

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General information

 

Course unit name: International Financial Accounting

Course unit code: 364572

Academic year: 2021-2022

Coordinator: Jordi Morros Ribera

Department: Department of Business

Credits: 6

Single program: S

 

 

Estimated learning time

Total number of hours 150

 

Face-to-face and/or online activities

60

 

-  Lecture

Face-to-face and online

 

20

 

-  Group tutorial

Face-to-face and online

 

10

 

-  Problem-solving class

Face-to-face and online

 

30

Supervised project

40

Independent learning

50

 

 

Recommendations

 

Students must have completed the subject Introduction to Financial Accounting of the second semester of first year. It is also advisable to have completed the following subjects:

— Business Economics I

— Business Law

— Mercantile Law


Requisites

364548 - Dret de l'Empresa (Recommended)

 

 

Competences to be gained during study

 

   -

CB2 - Capacity to apply knowledge and understanding in a manner that indicates a professional approach to the work or vocation, and have competences typically demonstrated through devising and sustaining arguments and solving problems within the field of study.

   -

CG8 - Capacity to communicate in English and/or other foreign languages orally and in writing, comprehension skills, and mastery of specialized language.

   -

CE7 - Capacity to draw up, interpret and apply accounting and financial information in a business context.

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CE6 - Ability to appraise processes and decision-making in the development of international operations.

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CE1 - Capacity to analyse the international operations of business organizations and interpret their responses to economic, social, cultural and legislative factors in an international setting.

Learning objectives

 

Referring to abilities, skills

— Understand the meaning, recognition, measurement and processing of basic accounting transactions, applying standard principles and rules of measurement.

— Understand the content and implications of financial statements.

— Interpret the transactions carried out by an economic agent and carry out the corresponding recognition and measurement.

— Understand the different types of transactions during accounting periods and the financial year (accounting cycle).

— Be able to prepare different types of balance sheets and profit and loss statements.

 

 

Teaching blocks

 

1. Introduction to basic concepts of financial accounting

*  Introduction to financial accounting and IFRS

1.1. Review of “Introduction to financial accounting” and “Introduction to international financial reporting standards”

1.1.1. Users of IFRS

1.1.2. IFRS and global capital markets

1.1.3. Differences between IFRS and FASB

1.1.4. Key concepts used in IFRS

1.1.5. Looking to the future and convergence between IFRS and FASB

1.2. Reporting and analysing accounts receivable

1.2.1. Identifying different types of receivables

1.2.2. Explaining how accounts receivable are recognised in the accounts

1.2.3. Describing methods used to account for bad debts

1.2.4. Computing interest on notes receivable

1.2.5. Describing entries to record the disposition of notes receivable

1.2.6. Explaining statement presentation of receivables

1.2.7. Describing the principles of sound accounts receivable management

1.2.8. Identifying ratios to analyse a company’s receivables

1.2.9. Describing methods to accelerate the receipt of cash from receivables

1.3. Reporting and analysing long-lived assets

1.3.1. Describing how the cost principle applies to plant assets

1.3.2. Explaining the concept of depreciation

1.3.3. Computing periodic depreciation using the straight-line method and contrasting its expense pattern with that of other methods

1.3.4. Describing the procedure for revising periodic depreciation

1.3.5. Explaining how to account for the disposal of plant assets

1.3.6. Describing methods for evaluating the use of plant assets

1.3.7. Identifying basic issues related to reporting intangible assets

1.3.8. Indicating how long-lived assets are reported in financial statements

1.4. Reporting and analysing liabilities

1.4.1. Describing a current liability and identifying the major types of current liabilities

1.4.2. Describing accounting for notes payable

1.4.3. Explaining accounting for other current liabilities

1.4.4. Identifying types of bonds

1.4.5. Preparing entries for the issuance of bonds and interest expense

1.4.6. Describing entries when bonds are redeemed

1.4.7. Identifying requirements for financial statement presentation and analysis of liabilities

2. Stockholders’ equity, cash-flow statement and financial analysis

*  Second part of the subject with a final introduction to financial analysis

2.1. Reporting and analysing stockholders’ equity

2.1.1. Identifying and discussing the major characteristics of a corporation

2.1.2. Recording the issuance of common stock

2.1.3. Explaining accounting for the purchase of treasury stock

2.1.4. Differentiating preferred stock from common stock

2.1.5. Preparing entries for cash dividends and understanding the effect of stock dividends and stock splits

2.1.6. Identifying the items that affect retained earnings

2.1.7. Preparing a comprehensive stockholders’ equity section

2.1.8. Evaluating a corporation’s dividend and earnings performance from a stockholder’s perspective

2.2. Statement of cash flows

2.2.1. Understanding the usefulness of the statement of cash flows

2.2.2. Distinguishing among operating, investing and financing activities

2.2.3. Explaining the impact of the product life cycle on a company’s cash flows

2.2.4. Preparing a statement of cash flows using the indirect method

2.2.5. Use of the statement of cash flows to evaluate a company

2.3. Financial analysis: the big picture

2.3.1. Understanding the concept of sustainable income

2.3.2. Indicating how irregular items are presented

2.3.3. Explaining the concept of comprehensive income

2.3.4. Describing and applying horizontal analysis

2.3.5. Describing and applying vertical analysis

2.3.6. Identifying and computing ratios used in the analysis of a company’s liquidity, solvency and profitability

2.3.7. Understanding the concept of quality of earnings

 

 

Teaching methods and general organization

 

The theoretical and practical content of this subject requires face-to-face learning activities, mainly through lectures. Face-to-face sessions are used to present the topics outlined in the teaching blocks and to work through exercises and problem-solving activities.

At the end of each block, students must deliver the answer sheet for multiple-choice questions and the solutions to a series of problem-solving activities. These continuous assessment activities (CAA) are a compulsory part of the continuous assessment option.

Students with a particular interest in one of the topics in the course plan may carry out further study independently and submit voluntary assignments.

Students are placed in groups for face-to-face sessions. Attendance is monitored at random.

 

 

Official assessment of learning outcomes

 

Students are automatically entered for continuous assessment. During this academic year, students are entitled to withdraw from continuous assessment and opt for single assessment until the last day of class, and no previous request is needed.

Continuous assessment for this subject consists of tests, coursework assignments and class attendance.

The mid-term test for continuous assessment consists of:

— Multiple-choice test (40 questions).
— Two exercises.

The same content will be included in the last exam on Blocks 1 and 2.

The weighting given to each activity in the calculation of the final grade is shown below:

— Blocks 1 and 2, theoretical and practical assessment: compulsory multiple-choice test and exercises to solve at home (10% of the final grade, provided that pass marks are obtained for the theory assessment and the practical assessment).
— Blocks 1 and 2, theory assessment: compulsory multiple-choice test in class (33% of the final grade).
— Blocks 1 and 2, practical assessment: compulsory exercises in class (67% of the final grade).

To pass the subject, students must complete all of the in-class assessment activities indicated above and obtain a weighted final grade of 5 or higher.

 

Examination-based assessment

The final examination for students who have requested single assessment contains a theory section and a practical section.

— The theory section consists of 40 multiple-choice questions, each with four possible answers of which only one is correct. A standard mark scheme will be applied: 1 point for correct answer, minus 0.25 points for incorrect answers, and minus 0.10 points if no answer is given. This section is qualifying, and students must obtain a mark of 5 out of 10 or higher to have the second section corrected.

— The practical section consists of four exercises, all of which must be completed.

Students must obtain a mark of 5 or higher for each section to pass the subject. For students who do not pass the multiple-choice questions, the final examination mark is the mark obtained for the multiple-choice section.


Repeat assessment

Marks for continuous assessment activities are not taken into account.

The repeat assessment examination contains a theory section and a practical section.

— The theory section consists of 40 multiple-choice questions, each with four possible answers of which only one is correct. A standard mark scheme will be applied: 1 point for correct answer, minus 0.25 points for incorrect answers, and minus 0.10 points if no answer is given. This section is qualifying, and students must obtain a mark of 5 out of 10 or higher to have the second section corrected.

— The practical section consists of four exercises, all of which must be completed.

Students must obtain a mark of 5 or higher for each section to pass the subject. For students who do not pass the multiple-choice questions, the final examination mark is the mark obtained for the multiple-choice section.

 

 

Reading and study resources

Consulteu la disponibilitat a CERCABIB

Book

HORNGREN, CT. [et al.] Introduction to financial accounting. 11th ed. Harlow: Pearson Education Limited, 2014

Catāleg UB   Enllaç

KIESO, Donald E. Intermediate accounting. 16ª ed.Hobonoken, New Jersey : Wiley, [2016]

  2016 edition being acquired.

Catāleg UB (IFR ed., 2014)  Enllaç

KIMMEL, PD., WEYGANDT, JJ., KIESO, DE. Financial accounting : tools for business decision making. 10th ed. Hoboken, N.J. : Wiley, 2016

Catāleg UB   Enllaç

MONGER, RF. Financial accounting : a global approach. Chichester : Wiley, 2010

Catāleg UB  Enllaç

PORTER, GA., NORTON, CL. Financial accounting : the impact on decision makers. 9th ed. Stamford : Cengage Learning, 2015

Catāleg UB   Enllaç