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ACC201Level 200Hard

Financial Accounting I

Fundamentals of financial accounting covering the IASB conceptual framework, IFRS 15 revenue recognition, IAS 1 financial statement presentation, IAS 2 inventories, IAS 8 accounting policies, IAS 16 property and equipment, IAS 20 government grants, and IAS 23 borrowing costs.

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Recommended Textbooks

Financial Accounting

Kieso, Weygandt & Warfield - 18th Edition

Accounting Principles

Weygandt, Kimmel & Kieso - 14th Edition

Key Topics

Disclaimer

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Course Information

Code

ACC201

Level

200

Credits

2

Difficulty

Hard

Exam Focus Areas

  • -IASB Framework qualitative characteristics
  • -IFRS 15 five-step revenue recognition model
  • -IAS 1 complete set of financial statements
  • -IAS 2 inventory valuation (lower of cost and NRV)
  • -IAS 8 retrospective vs prospective application
  • -IAS 16 depreciation calculations (straight-line & reducing balance)
  • -IAS 20 government grants recognition rules
  • -IAS 23 borrowing costs capitalization

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