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

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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
Total Lecture Hours: 42 hours

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
Academic Session: 2016/2017

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

Department & Faculty: Dept. of Accounting

and Finance, Faculty of Management
Course Code: SHAC1103 Financial Accounting
and Reporting 1
Total Lecture Hours: 42 hours
Week 2

Week 3

Semester: I
Academic Session: 2016/2017

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
Subsequent 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

Department & Faculty: Dept. of Accounting

and Finance, Faculty of Management
Course Code: SHAC1103 Financial Accounting
and Reporting 1
Total Lecture Hours: 42 hours

Week 11 - 12

Page : 4 of 4
Semester: I
Academic Session: 2016/2017

Disclosure

Non-current assets held for sales

Government grants
Intangible Assets
Definition
Initial Recognition by Way of Acquisition
Initial Measurement
Subsequent 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).

Department & Faculty: Dept. of Accounting

and Finance, Faculty of Management
Course Code: SHAC1103 Financial Accounting
and Reporting 1
Total Lecture Hours: 42 hours
No.

Semester: I
Academic Session: 2016/2017

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