BSQA601 – Financial Accounting
Module code
BSQA601
Module title
Financial Accounting
Prescription
Students will apply the regulatory and technical aspects of financial accounting and external reporting for companies and evaluate financial and non-financial information.
Programmes
- BS8906
NZQA Level
Level 6
NZQA Credits
20
Delivery method
- Web-Supported
Learning hours
- Directed hours
- 64
- Self directed hours
- 136
- Total learning hours
- 200
Resources required
- Learning Outcomes
- Learning outcome one
Students will process transactions relating to the formation of a company and changes to shareholder equity, and analyse relevant implications.
Key elements:
a) Formation of a company:
fully paid shares
over subscribed
cash and other considerations.
b) Changes to share capital:
bonus issues
share re-purchase
share splits.
c) Distributions:
solvency test
dividends
share options.
Learning outcome two
Students will examine the New Zealand Accounting Standards Framework.
Key elements:
a) New Zealand Accounting Standards Framework:
the role of the External Reporting Board and the New Zealand Accounting Standards Board
the relevance of GAAP for financial reporting
the purpose of general purpose financial reports
reporting tiers and their reporting requirements.
Learning outcome three
Students will apply aspects of accounting standards in the preparation and presentation of general purpose financial reports for a company.
Key elements:
a) Standards include but are not limited to:
NZ IAS 1 Presentation of financial statements
NZ IAS 2 Inventories
NZ IAS 7 Cash flow statements
NZ IAS 8 Accounting policies, changes in accounting estimates
NZ IAS 10 Events after the reporting period
NZ IAS 16 Property, plant and equipment
NZ IAS 18 Revenue
NZ IAS 36 Impairment of assets
NZ IAS 37 Provisions, contingent liabilities and contingent assets.
Learning outcome four
Students will critically review, analyse, and interpret financial and non-financial information and effectively communicate conclusions for the purpose of shareholder investment.
Learning outcome five
Students will explain the purpose of and apply the current accounting requirements for consolidated financial statements.
Key elements:
a) 100 single subsidiary business combinations:
elimination entries including but not limited to:
the parent investment in the subsidiary
goodwill/bargain purchase
intra-group balances, transactions:
sales and purchases
loans
fees
dividends
worksheet for consolidated financial statements. - Content
- Students will apply Generally Accepted Accounting Practice (GAAP) to prepare and present general purpose financial reports for a company and evaluate a listed company for the purpose of shareholder investment.
