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Overview
The subject is a capstone subject in accounting. The subject is designed to teach the underlying concepts and applied contemporary techniques that enable the users of financial reports to assess the performance of a firm, value a firm and evaluate its managers. The course is seen as an extension and integration of both accounting and the also the finance, economics and statistics subjects you studied earlier in your degree. The applied concepts taught will be useful to students in practice both as preparers and as users.
The objective of this course is to equip students with both the concepts and techniques to be able to: (a) understand that information is imperfect and be able to understand the determinants of bias and random errors in information (b) use financial reports to assess the level and drivers of firm performance; (c) value firms and (d) consider whether markets are efficient in the use of information and if regulation over the production of external financial reports (and other information) is required.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Explain the impact of financial reports on economic activity;
- Analyse the principles and incentives associated with the recognition and measurement of a firm's economic activity in financial reports and the biases and random errors that occur;
- Discuss the tools and frameworks necessary to use financial reports to understand, analyse and evaluate the performance of a firm;
- Evaluate the concepts and approaches associated with the use of financial reports for valuation; and
- Synthesise the range of emerging issues in financial accounting.
Generic skills
On successful completion of this subject, students should have improved the following generic skills:
- High level of development: oral communication; written communication; problem solving; application of theory to practice; interpretation and analysis; critical thinking.
- Moderate level of development: statistical reasoning; receptiveness to alternative ideas.
- Some level of development: collaborative learning; team work; use of computer software; synthesis of data and other information.
Assessment
| Description | Timing | Percentage |
|---|---|---|
|
Mid-semester test
|
Mid semester | 20% |
|
Group assignment (group size of 3-4 students)
|
Week 10 | 20% |
|
End-of-semester examination
|
During the examination period | 60% |