Far 1

COURSE OUTLINE
Department & Faculty: Dept. of Accounting and

Finance, Faculty of Management
Course Code: SHAC 1103 Financial Accounting
and Reporting 1
Total Lecture Hours: 42 hours
Lecturer
Room No.
Telephone No.
Synopsis
2.
3.
4.
5.
6.
7.
Semester: I
Academic Session: 2016/2017
: KAMARUZZAMAN ABDUL RAHIM

: T08,03-13,04
: +607-55610143, +6011-22054058
: In this first level course, students are exposed to the financial reporting
regulatory framework (introduce key players in the financial reporting
environment in Malaysia; MASB, MIA, SC, CCM, Bursa Malaysia etc.) and
their role in capital market, SME sector, public sector and non-profit sector
(NGOs, charitable organisation etc). Students will also be introduced to the
financial reporting conceptual framework, elements such as assets, liabilities,
equity, income and expenses, components of financial statements (including
the relationship between statement of financial position, statement of
comprehensive income, statement of cash flow and statement of changes in
equity). Basic financial statement analysis, component of equity and financial
reporting standards such presentation of financial statements, fair value
measurement, inventories, PPE, non-current assets held for sales, government
grants and intangible are also introduced.
LEARNING OUTCOMES
By the end of the course, students should be able to:
No Course Learning Outcome
.
1.
Page : 1 of 4
Distinguish different forms of business and

its reporting environment
Discuss issues in the conceptual framework
for financial accounting and reporting
Discuss the requirement for preparation of
and prepare the financial statement.
Discuss
and
estimate
fair
value
measurement
Apply approved accounting standards to
account for cash, receivables and
inventories,
Apply approved accounting standards to
account for property, plant and equipment,
non-current assets held for sales and
intangible assets.
Distinguish different types of share capital
and reserves and prepare Statement of
Changes in Equity.
Prepared by:
Name: KAMARUZZAMAN ABDUL RAHIM
Signature: Kamaruzzaman
Date: 1 SEPTEMBER
Programme
Learning
Outcome(s)
Addressed
PO1
Taxonomy
Assessment
Methods
C2
T,Q
PO1
C2
PO1
C2
T, F
PO1
C3
PO1
C3
PO1
C3
PO1
C3
F,Q
Certified by:
Name: DR ANIZA BINTI OTHMAN
Signature:
Date: 1 SEPTEMBER 2016
Department & Faculty: Dept. of Accounting

and Finance, Faculty of Management
Course Code: SHAC1103 Financial Accounting
and Reporting 1
8.
9.
10.
11.
Carry out basic financial statement analysis

and interpret the financial ratios
Evaluate the financial performance and
financial position to make business
decisions.
Communicate effectively project findings
through oral presentation and written report
Work collaboratively and assume different
roles in a team to solve a problem through a
project paper.
Page : 2 of 4
Semester: I
PO2
C4
GP
PO12
KK 1
GP
PO9
CS4
GP, P
PO8
TS3
GP
(T - Test ; Q Quiz; F Final
Exam; GP-Group
Project, P Presentation
STUDENT LEARNING TIME

Teaching and Learning Activities
Student Learning Time (hours)
1. Lecture
2. Independent Study
- self learning
- information search
- library search
- reading
- peer discussion
- exercises
3. Tutorial
4. Test
5. Exam (1x)
Total
42
59
14
2
3
120
TEACHING METHODOLOGY
Lecture and Discussion, Co-operative Learning, Independent Study
WEEKLY SCHEDULE
Week
Week 1
:
Overview of accounting
Financial reporting environment in Malaysia
Forms of business and different reporting

requirements
Functions or role of accounting
References

and Reporting 1
Week 2
Week 3
Semester: I
Accounting principles and concepts
Regulatory and conceptual framework for

corporate reporting
Qualitative characteristics of financial reporting

o Fundamental
o Enhancing
o Pervasive constraint
Going concern assumption
Elements of financial statement
Recognition of elements of
financial statement
Measurement of elements of
financial statement
Misunderstandings about the

conceptual framework
Presentation of Financial Statements
MFRS101 Presentation of financial statements

o Statement of Financial Position
o Statement of Comprehensive Income
o Statement of Changes in Equity
o Cash flow statement
o Notes to the financial statements
Week 4
Fair Value Measurement
Week 5 - 6
Accounting for Current Assets
Cash
Receivables
Inventories
Definition
Initial recognition
Initial measurement
Subsequent measurement
De-recognition, disposal
Disclosure
Week 7 - 10
Page : 3 of 4
Non-Current Tangible Assets
Property, plant and equipment

Definition
Initial recognition
Initial measurement
De-recognition, disposal
Conceptual Framework
for Financial Reporting
MFRS 101
MFRS 13
MFRS 9
MFRS 102
MFRS 116
MFRS 120
MFRS 5
MFRS 136
MFRS 137
MFRS 123
MFRS 13

and Reporting 1
Week 11 - 12
Page : 4 of 4
Semester: I
Disclosure
Non-current assets held for sales
Government grants
Intangible Assets
Definition
Initial Recognition by Way of Acquisition
Initial Measurement
De-recognition
Disclosure
Week 13
Basic Financial Statements Analysis
Week 14
Equity
Definition
Statement of Changes in Equity
o ShareCapital
o Reserves
Distributable
Non-distributable
:
REFERENCE
S
GRADING
IFRIC 1
IFRIC 18
MFRS 138
MFRS 136
MFRS 13
MFRS 120
MFRS 101
Conceptual Framework
for Financial Reporting
Main Text:
Ahmad, A., Mohd Saat, N.A., Mahmud, R., Mohd Aripin, R., Ngalim, S.M., Abd
Talib, M. and Abdullah, A.A. (2015). Financial Accounting and Reporting 1.
Oxfor University Press. Malaysia.
Other References:
1. Lazar, J. and Choo, H.C. (2014). Malaysian Financial Reporting Standards.
4th Edition. McGrawHill Education. Malaysia.
2. Lazar, J. and Leng, T.L. (2013). Company and Group Financial Reporting.
Revised 7th Edition. Pearson. Malaysia.
3. Juan, N.E. (2012). A Practical Guide to Financial Reporting Standards
(Malaysia). 3rd Edition. CCH. Asia.
4. Tong, T.L. (2011). Financial Accounting and Reporting in Malaysia (Volume1).
4th Edition. CCH. Asia.
5. Tong, T.L. (2011). Financial Accounting and Reporting in Malaysia (Volume
2). 4th Edition. CCH Asia.
6. Thomas, A. and Ward, A .M. (2012). Introduction to Financial Accounting. 7th
Edition. McGraw-Hill. UK.
7. Harrison, W., Horngren, C.T., Thomas, B. and Suwardy, T. (2010). Financial
Accounting Plus MyAccountingLab. 8th Edition. Pearson. UK.
8. Relevant Malaysia Financial Reporting Standards (MFRS).
9. Relevant International Financial Reporting Standards (IFRS).

and Reporting 1
No.
Semester: I
Number
% each
% total
20
20
15
15
Mid-term exam
Group Project &
Presentation
Quizzes
2.5
Final Exam
60
60
1
2
Assessment
Page : 5 of 4
Overall Total
100
Dates

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COURSE OUTLINE

Department & Faculty: Dept. of Accounting and

: KAMARUZZAMAN ABDUL RAHIM

Distinguish different forms of business and

Department & Faculty: Dept. of Accounting

Carry out basic financial statement analysis

STUDENT LEARNING TIME

Student Learning Time (hours)

Financial reporting environment in Malaysia

Forms of business and different reporting

Functions or role of accounting

Department & Faculty: Dept. of Accounting

Accounting principles and concepts

Regulatory and conceptual framework for

Qualitative characteristics of financial reporting

Going concern assumption

Elements of financial statement

Misunderstandings about the

Presentation of Financial Statements

MFRS101 Presentation of financial statements

Fair Value Measurement

Accounting for Current Assets

Non-Current Tangible Assets

Property, plant and equipment

Department & Faculty: Dept. of Accounting

Non-current assets held for sales

Basic Financial Statements Analysis

Department & Faculty: Dept. of Accounting

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