Lesson Plan Obe Far400_march 2014 Nz

5/31/2018 Lesson Plan Obe Far400_march 2014 Nz

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New format for OBE-SCL Lesson Plan March 2014

Lesson plan/far400/March 2014 Page 1

FAKULTI PERAKAUNANUNIVERSITI TEKNOLOGI MARA

40450, SHAH ALAM

Semester: March 2014

PROGRAM NAME : BACHELOR OF ACCOUNTANCY (HONS)PROGRAM CODE : AC220COURSE NAME : PRINCIPLES AND APPLICATION OF FINANCIALREPORTING STANDARDS 1COURSE CODE : FAR 400LECTURE : 2 hours / weekTUTORIAL : 1 hour / weekLECTURER : MADAM NIK ZAM NIK WAN / ROOM NO: D4-35 / CONTACT NO: 013-3824527

COURSE OUTCOMES

CO1 Explain the relevant requirements of financial reporting standards pertaining to non-current assets: property, plant and equipment,

investment property, leases, intangible assets, non-current assets held for sale and impairment.

CO2 Explain the relevant requirements of financial reporting standards pertaining to reporting performance of an enterprise: changes in

accounting policies, changes in accounting estimates and errors, provisions and contingencies and the effects of foreign currency

transactions.

CO3 Apply the financial reporting standards in preparing financial statements for public companies including discontinued operation.

CO4 Prepare the annual financial statements for publication purpose. These include statement of financial position, statement of

comprehensive income, statement of changes in equity, statement of cash flows and notes to the financial statements.

CO5 Evaluate the financial position and performance of companies.


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CO6 Critically discuss the ethical issues in financial reporting process

PROGRAM OUTCOMES

PO1 able to apply knowledge and understanding of accounting and other business applications in an organization

PO2 able to prepare financial statements in accordance with approved accounting standards and report socio-economic events which affectorganizations

PO3 able to prepare tax return, provide tax consultation and perform audits for business entities using appropriate technologies

PO4 able to use and evaluate information technologies and systems for the attainment of organizational objectives

PO5 able to provide, interpret, evaluate and critically analyze financial and non-financial information in assisting management to makeorganizational decisions

PO6 able to communicate effectively, both written and verbal

PO7 able to work collaboratively in a team to serve stakeholders' interests

PO8 able to demonstrate behavior consistent with professional ethics and social responsibility

PO9 able to engage information management, demonstrate a commitment to life-long learning and professional development

PO10 able to demonstrate entrepreneurial skillsPO11 able to demonstrate leadership skills

CO-PO MATRIX

PO1 PO2 PO3 PO4 PO5 PO6 PO7 PO8 PO9 PO10 PO11

CO1

CO2

CO3

CO4CO5

CO6


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PLAN STRUCTURE

NO WEEK TOPIC CONTACT

HOURS

LECTURE/TUTORIAL

COVERAGE

TOPIC OUTCOME (TO) CO PO LEARNING

MODEL

ASSESSMENT

1 1 INTRODUCTIONTO OBE

Ice breaking

Overview of OBE

Overview of thecourse via lesson planand syllabus contents

Ability to:

Understand the significanceimportant of adopting OBEfor the course.

Recognize programeducational objectives(PEOs).

Recognize program outcomes(POs).

Recognize the courseoutcomes (COs).

Recognize the course topicoutcomes (TOs).

Sharing ofmaterials

and

information

Entrance survey

2 1 & 2 MFRS 116PROPERTY,PLANT ANDEQUIPMENT

5 (3L,2T) Property, plant andequipment

Ability to:.

Define property, plant andequipment

Explain the recognitioncriteria of property, plant andequipment

Determine the initial costs ofproperty, plant andequipment.

Show the relevant accountingentries for the acquisition ofproperty, plant andequipment and disclosure inthe statement of financial

CO1 PO1PO3PO8

Lecture &Tutorial

Quiz 1 & Finalexamination


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position.

Explain the recognitioncriteria of subsequentexpenditure as part of thecarrying value of property,plant and equipment.

Explain the accountingtreatment of subsequentexpenditure and show therelevant accounting entriesand disclosure in thestatement of profit or loss andstatement of financialposition.

Explain the initial

measurement of property,plant and equipment

Explain the accountingtreatment of subsequentmeasurement of property,plant and equipment.

Account for depreciation.

Account for derecognition ofproperty, plant andequipment

Explain the disclosurerequirements of FRS 116 on

property, plant andequipment.

3 2 & 3 MFRS 123BORROWING

COSTS

2 (1L,1T) Borrowing costs Ability to:

Define borrowing costs

Define qualifying expenditure

CO1 PO1PO3PO8

Lecture &Tutorial

Test 1


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Discuss the possibletreatments of borrowing costsincurred in construction ordevelopment of qualifyingassets (commencement,suspension and cessation)

Prepare the relevantaccounting entries anddisclosure in the statement ofprofit or loss and statement offinancial position.

4 3 MFRS 120ACCOUNTING

FORGOVERNMENTGRANTS AND

DISCLOSURE OFGOVERNMENT

ASSISTANCE

2 (1L,1T) Accounting forgovernment grant

Ability to:

Define government grants

Explain the recognitioncriteria of government grants

Discuss the possibleaccounting treatments forgovernment grants

Explain the presentation anddisclosure requirements

CO1 PO1PO3PO8

Lecture &Tutorial

Test 1

5 4 MFRS 5NON-CURRENTASSETS HELD

FOR SALE ANDDISCONTINUED

OPERATION

2 (1L,1T) Non-current assetsheld for sale

Discontinuedoperation

Ability to:

Explain what is non-currentassets held for sale anddiscontinued operation

Explain the criteria to besatisfied before non-currentasset could be classified as

held for saleExplain the measurement of

non-current assets held forsale

Explain the disclosure

CO1 PO1PO3PO8

Test 1


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requirement of non-currentassets held for sale

Explain discontinuedoperation and thepresentation of discontinuedoperations on the face of thestatement of profit or loss

6 4 & 5 MFRS 140INVESTMENT

PROPERTY

3 (2L, 1T)) Investment property Ability to:

Define investment property

Explain examples ofinvestment property

Explain the recognitioncriteria of investmentproperty

Compute the initial cost of

investment propertyDiscuss the initial

measurement of investmentproperty

Discuss the subsequentmeasurement of investmentproperty

Discuss the measurementupon transfer from property,plant and equipment toinvestment property andinvestment property to

property, plant andequipment

Prepare the relevantaccounting entries anddisclosure in the statement of

CO1 PO1PO3PO8

Lecture &Tutorial

Test 2


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profit or loss and statement offinancial position

7 5 & 6 MFRS 136IMPAIRMENT

OF ASSETS

3 (2L, 1T) Impairment of assets

Reversal ofimpairment loss

Ability to:

Define impairment Test for impairment

Determine the impairment

loss for individual assets and

cash-generating unit (CGU)

Determine the reversal ofimpairment loss forindividual assets and thecash-generating unit

Prepare relevant accountingentries and disclosure in the

statement of profit or loss andstatement of financial position

CO1 PO1PO3PO8

Lecture &Tutorial

Test 2

8 6, 7 &8

MFRS 117LEASES

5 (3L, 2T) Finance lease inLessees books

Finance lease inLessors books

Operating lease in thebooks of the lesseeand the lessor

Ability to:

Define leases

Discuss the principle ofsubstance over form inrelation to leases

Distinguish between financelease and operating lease(classification criteria)

Explain the accountingtreatment for finance lease in

the books of the lesseeExplain the accounting

treatment for finance lease inthe books of the lessor

Explain the accounting

CO1 PO1PO3PO8

Lecture &Tutorial

Test 2(excludeprepaid lease)


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Sale and leaseback

Leaseback is a financeleaseBooks of lessee andlessor

treatment for operating leasein the books of the lessee andthe lessor

Discuss the reasons for saleand leaseback

Explain the accountingtreatment for sale andleaseback when the leasebackis a finance lease

Explain the accountingtreatment in the books of thelessee and the lessor

Explain the accountingtreatment for sale and

leaseback when leaseback isan operating lease

Finalexamination

9 8 & 9 MFRS 138INTANGIBLES

4 (2L,2T)) Intangible assets

Internally generatedintangible assets

Research andDevelopment

Ability to:

Define intangible assets

Explain examples ofintangible assets

Discuss the recognitioncriteria of intangible assets

Determine the initial cost ofintangible assets

Determine the initialmeasurement of intangible

assetsAssess whether the intangible

assets has a finite or indefiniteuseful life.

Test for impairment

CO1 PO1PO3PO8

Lecture &Tutorial

Finalexamination


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Explain the subsequentmeasurement of intangibleassets that have definite lifeand indefinite life

Explain the accountingtreatment for research anddevelopment

Show relevant entries forintangible assets

Explain the disclosurerequirements of intangibleassets

10 9 & 10 MFRS 108ACCOUNTING

POLICIES,CHANGES IN

ACCOUNTINGESTIMATES AND

ERRORS

3 (2L,1T) Changes inaccounting policies

Changes in

accounting estimates Prior period error

Ability to:

Define accounting policies,accounting estimates and

errors Explain the accounting

treatment for changes inaccounting policies andchanges in accountingestimates

Explain the accountingtreatment for prior perioderror

Explain why changes inaccounting policies and errorsaffect the statement of

changes in equity (RetainedProfit) but not changes inaccounting estimates

Show the relevant entries inthe journal , ledger, statement

CO2 PO1PO3PO8

Lecture &Tutorial

Finalexamination(include all

MFRSs withinFAR 400syllabus)


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of profit or loss and statementof financial position

Explain the disclosurerequirement

11 10&11 MFRS 137PROVISIONS,CONTINGENT

LIABILITIES ANDCONTINGENT

ASSETS

3 (2L,1T) Provisions

Contingent liabilities

Contingent assets

Onerous contract

Future operatinglosses

Restructuring

Ability to:

Define provisions

Define contingent liability

Distinguish betweenprovision and contingentliability

Explain the differencebetween provision andliability

Explain the recognition ofprovision that give rise to

liabilityExplain the accounting

treatment for provision andcontingent liability

Define contingent assets

Explain the recognition ofcontingent liability andcontingent asset

Explain the accountingtreatment for contingentassets, onerous contract,future operating losses and

restructuring Explain the disclosure

requirement

CO2 PO1PO3PO8

Lecture &Tutorial

Finalexamination


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12 11&12 MFRS 121FOREIGN

CURRENCYTRANSACTIONS

2 (1L,1T) Foreign currencytransactions

Ability to:

Explain foreign currencytransactions and relevant rateused

Compute difference onexchange and its accountingtreatment in the statement ofprofit or loss and statement offinancial position

Show the relevant entries forforeign currency transactionsin the journal ledger,statement of profit or lossand statement of financialposition

CO2 PO1PO3PO8

Lecture &Tutorial

Finalexamination

13 12, 13& 14

MFRS 101PREPARATIONOF FINANCIALSTATEMENTS

FORPUBLICATION

8 (4L& 4T)

Preparation offinancial statementsin compliance withMFRS 101 and theMalaysianCompanies Act 1965

Adjustments tofinancial statementsbased on all MFRSsabove.

Ability to:Prepare Statement of Profit or

loss

Prepare Statement of Changesin Equity

Prepare Statement ofFinancial Position

Prepare notes to the financialstatements

Calculate and interpret thefollowing ratios based on theannual reports:

o Performance ratioso Liquidity ratios

o Valuation ratioso Analysis of capital

structure

CO3CO4CO5

PO1PO2PO3PO4PO8PO9PO11

Lecture &Tutorial Finalexamination


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Statement of CashFlows in compliancewith MFRS 107

Prepare Statement of CashFlows using direct method

Reconciliation of cash flowsfrom operation with the netprofit for the period

Prepare Statement of CashFlows using indirect method

Quiz 2 & Finalexamination

Exit survey

Lesson Plan Obe Far400_march 2014 Nz

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