| CODE | ACC2231 | ||||||
| TITLE | Financial Reporting and the Public Sector (1) | ||||||
| UM LEVEL | 02 - Years 2, 3 in Modular Undergraduate Course | ||||||
| MQF LEVEL | 5 | ||||||
| ECTS CREDITS | 4 | ||||||
| DEPARTMENT | Accountancy | ||||||
| DESCRIPTION | Referring to both the private and public sector, the content of this study-unit will introduce the students to the requirements of international financial reporting standards that deal with presentation of financial statements, and valuation of inventory and non current assets. The study-unit will also go through the preparation of statements of cash flows. The students will be exposed to the uses and limitations of financial ratios, and the supplementary information which could enhance the users' understanding of financial statements. Study-unit Aims: The aim of this study-unit is to provide students reading for the BA (Hons) Public Sector Accounting with an introduction to the preparation of a set of financial statements, including a statement of cash flows, together with their uses and interpretation, involving accounting ratios and uses of financial statements, with particular reference to the application in the Public Sector. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Explain the consequences of unethical behaviour in the accounting profession; - Describe accounting ratios and their relevance for stakeholders; - Describe current legislation and accounting standards; - Describe the uses and limitations of financial ratios, and the supplementary information which could enhance the user鈥檚 understanding of financial statements and ratios derived from them. 2. Skills By the end of the study-unit the student will be able to: - Interpret and apply basic accounting standards, in particular, IAS 1, 2, 16 and 7; - Interpret and apply the respective IPSAS; - Prepare accounting ratios and provide basic interpretation of those ratios for relevant stakeholders; - Apply current legislation and basic accounting standards to the public services, to prepare and interpret the key external financial statements for public service organisations. Main Text/s and any supplementary readings: - Alan Melville, International Financial Reporting, A Practical Guide, (latest edition), FT Prentice Hall. - International Public Sector Accounting Standards (available from www.ifac.org). |
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| ADDITIONAL NOTES | Pre-requisite Study-unit: ACC1101 This study-unit is only offered to students following the BA (Hons) Public Sector Accounting. |
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| STUDY-UNIT TYPE | Lecture | ||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Josette Caruana Paulanne Mamo |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2025/6. It may be subject to change in subsequent years. |
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