| CODE | ACC3136 | ||||||||||||
| TITLE | Financial Reporting and the Public Sector 5 | ||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||||||
| MQF LEVEL | 6 | ||||||||||||
| ECTS CREDITS | 6 | ||||||||||||
| DEPARTMENT | Accountancy | ||||||||||||
| DESCRIPTION | This study-unit delves into Accounting regulation issues, such as, ethical, economic and political issues in the setting of accounting standards. Particular reference shall be made to the adoption of IPSAS by the Government of Malta and the process of adaptation and implementation. The study-unit shall also explore financial reporting standards that are deemed important and have not been previously covered, in particular, the reporting standards dealing with Agriculture; Exploration for and Evaluation of Mineral Resources; Share based payments; and accounting and reporting by retirement benefit plan issues. The study-unit shall also elaborate on financial reporting standards that deal with the theoretical content/issues covered in previous studies, in particular, standards dealing with Interim Financial Statements; the effects of changes in foreign exchange rates; and hyper inflationary economies. Study-unit Aims: The aim of this study-unit is to consolidate prior knowledge of financial reporting, by exposing the students to issues in accounting regulation and particular financial reporting standards relating to previous theoretical arguments. The study unit thus aims to provide student with a solid base on which to argue accounting concepts and practices, as applicable in the public sector context. Learning Outcomes: 1. Knowledge & Understanding By the end of the study-unit the student will be able to: - Distinguish between principles vs rules based accounting standards; - Discuss ethical, economic and political issues of accounting standard setting; - Describe and explain how international public sector accounting standards were adapted for the Maltese Government. 2. Skills By the end of the study-unit the student will be able to: - Provide advice on interpretation and implementation of financial reporting standards covered in the study-unit; - Prepare extracts from financial reports illustrating the proper implementation of the studied financial reporting standards, based on case studies. Main Text/s and any supplementary readings: - Accounting Theory (latest edition) J. Godfrey, A. Hodgson, S. Holmes, A. Tarca; Wiley - International Financial Reporting 鈥� A Practical Guide (latest edition) Alan Melville, Prentice Hall - Maltese Legislation and publications dealing with financial reporting - Relevant articles from international accounting journals - IPSAS as adopted by the Maltese Government (available online from the Maltese Treasury website). |
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| ADDITIONAL NOTES | Pre-Requisite Study-unit: Financial reporting and the public sector (4) | ||||||||||||
| STUDY-UNIT TYPE | Lecture & Independent Online Learning | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Daniel Borg Josette Caruana |
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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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