MBA: ACC 502 – Financial Accounting and Reporting
Categories: Master of Business Administration
About Course
ACC 502 is an advanced course in financial accounting and reporting, designed for graduate students preparing for leadership roles in finance and accounting.
The course provides an in-depth exploration of financial accounting principles and their application in complex business environments.
Emphasis is placed on analyzing and interpreting financial statements within the context of global accounting standards (GAAP and IFRS), corporate governance, and ethical considerations.
Students will engage with advanced topics such as financial reporting for mergers and acquisitions, foreign currency transactions, and the impact of emerging issues like sustainability and environmental reporting.
What Will You Learn?
- Demonstrate advanced understanding of financial accounting principles and their application in diverse business contexts.
- Analyze complex financial statements using advanced techniques such as ratio analysis, trend analysis, and segment reporting.
- Critically assess financial reporting standards, including GAAP and IFRS, and their impact on global business operations.
- Apply ethical reasoning to financial reporting decisions and evaluate the implications for corporate governance.
- Explore and articulate the impact of emerging issues such as environmental reporting, sustainability, and technological innovations on financial accounting.
Course Content
Week 1: Introduction to Advanced Financial Accounting
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Introduction to Advanced Financial Accounting
02:12 -
LO1: Explain the fundamental differences between Foundational and Advanced Financial Accounting Principles
00:00 -
LO2: Analyze complex Financial Statements to identify elements requiring Advanced treatment
00:00 -
LO3: Summarize the evolution of Financial Accounting and its relevance in strategic decision-making
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Assessment Task 1: Written Assignment
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Assessment Task 2: Presentation Task
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Assessment Task 3: Role-Playing Activity
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Assessment Task 4: Peer Review Task
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Assessment Task 5: Exercises and Activities Adaptation
Week 2: The Accounting Cycle Revisited
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The Accounting Cycle Revisited
00:00 -
LO1: Describe the Extended Accounting Cycle, including adjusting entries for Non-routine transactions
00:00 -
LO2: Evaluate the impact of Complex Transactions on Trial Balances and Financial accuracy
00:00 -
LO3: Apply advanced Journalizing techniques to record Multi-step transactions
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 3: Preparing Financial Statements for Complex Entities
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Preparing Financial Statements for Complex Entities
00:00 -
LO1: Analyze the process of Consolidating Financial Statements for Group Companies
00:00 -
LO2: Explain the treatment of Intercompany Transactions in Consolidated Reporting
00:00 -
LO3: Demonstrate the preparation of Financial Statements for complex entities using case-based scenarios
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 4: Advanced Balance Sheet Analysis
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Advanced Balance Sheet Analysis
00:00 -
LO1: Explain the Measurement and Valuation techniques for Assets, Liabilities, and Equity
00:00 -
LO2: Interpret Impairment tests and Revaluation adjustments for Financial Reporting
00:00 -
LO3: Compare Traditional and Advanced approaches to classifying and disclosing Balance Sheet items
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 5: Revenue Recognition and Complex Income Measurement
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Revenue Recognition and Complex Income Measurement
00:00 -
LO1: Explain Revenue Recognition criteria under different accounting standards (GAAP vs. IFRS)
00:00 -
LO2: Analyze the Implications of Long-term contracts and Multi-element arrangements on Income Measurement
00:00 -
LO3: Explain how to apply Advanced Revenue Recognition Models to assess real-world case scenarios
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 6: Cash Flow Statements and Advanced Applications
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Cash Flow Statements and Advanced Applications
00:00 -
LO1: Demonstrate the preparation of complex Cash Flow Statements incorporating Non-cash activities
00:00 -
LO2: Analyze the effect of Foreign Currency Transactions on Cash Flow Reporting
00:00 -
LO3: Evaluate the Financial Health of a Business using advanced Cash Flow analysis techniques
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 7: Global Financial Reporting Standards (GAAP vs. IFRS)
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Global Financial Reporting Standards (GAAP vs. IFRS)
00:00 -
LO1: Compare the conceptual Frameworks of GAAP and IFRS in the context of Financial Reporting
00:00 -
LO2: Summarize the key Convergence issues and challenges between the Global Accounting standards
00:00 -
LO3: Assess the implications of adopting IFRS for Multinational Corporations
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 8: Midterm Exam or Major Assignment
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Midterm Exam or Major Assignment
00:00 -
Multiple Choice Questions
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True/False Questions
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Short Answer Questions
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Scenario-Based Multiple Choice Questions
Week 9: Financial Statement Analysis and Interpretation
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Financial Statement Analysis and Interpretation
00:00 -
LO1: Apply Advanced Ratio and Trend Analysis techniques to evaluate Business Performance
00:00 -
LO2: Develop and interpret Pro Forma Financial Statements for strategic forecasting
00:00 -
LO3: Analyze the Financial Strengths and Weaknesses of a Company using Simulation Tools
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 10: The Role of Auditing and Assurance in Financial Reporting
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The Role of Auditing and Assurance in Financial Reporting
00:00 -
LO1: Define the role of External Auditors in enhancing Financial Statement Reliability
00:00 -
LO2: Describe the Stages of the Auditing process and their Significance in Corporate Governance
00:00 -
LO3: Evaluate how Audit opinions affect Stakeholder Trust and Financial Transparency
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 11: Corporate Governance, Risk Management, and Financial Reporting
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Corporate Governance, Risk Management, and Financial Reporting
00:00 -
LO1: Explain the Interrelationship between Financial Reporting, Corporate Governance, and Risk Management
00:00 -
LO2: Analyze Risk Management Strategies and their reflection in Financial Disclosures
00:00 -
LO3: Assess the Effectiveness of Governance practices in mitigating Financial Reporting Risks
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 12: Ethical Issues and Fraud Prevention in Financial Reporting
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Ethical Issues and Fraud Prevention in Financial Reporting
00:00 -
LO1: Identify Ethical Dilemmas in Financial Accounting and Reporting Practices
00:00 -
LO2: Explain different Techniques for detecting and preventing Financial Fraud
00:00 -
LO3: Analyze real-world Accounting Scandals to determine the role of Ethical Failings
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 13: Financial Reporting for Mergers, Acquisitions, and Complex Transactions
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Financial Reporting for Mergers, Acquisitions, and Complex Transactions
00:00 -
LO1: Explain the Accounting Treatment for Business Combinations and Goodwill
00:00 -
LO2: Describe how to apply Foreign Currency translation methods to Financial Reporting
00:00 -
LO3: Analyze the impact of Mergers and Acquisitions on Financial Disclosures
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 14: Disclosure and Reporting Requirements
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LO1: Describe the Advanced Disclosure requirements related to EPS, Segment reporting, and related Party Transactions
00:00 -
Disclosure and Reporting Requirements
00:00 -
LO2: Evaluate the Effectiveness of Financial Disclosures in Meeting Regulatory requirements
00:00 -
LO3: Interpret the implications of Inadequate or Misleading Disclosures in published Financial Reports
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 15: Emerging Issues in Financial Reporting
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Emerging Issues in Financial Reporting
00:00 -
LO1: Explain the Principles and Objectives of sustainability and integrated Reporting
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LO2: Analyze the potential of AI and Blockchain technologies to transform Financial Accounting
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LO3: Critically evaluate the role of Environmental and Social disclosures in modern Financial Reporting
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Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Key Terms and Concepts Questions
-
Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
Week 16: Final Test or Project
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Final Test or Project
00:00 -
Multiple Choice Questions
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True/False Questions
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Scenario-Based Multiple Choice Questions
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Short Answer Questions
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Written Assignment
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Presentation Task
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Role-Playing Activity
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Peer Review Task
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Exercises and Activities Adaptation
