Advanced Financial Accounting

Not applicable

The methodology of the Advanced Financial Accounting discipline is in accordance with the following parameters:

•  Classes are theoretical-practical, with an illustrated theoretical exposition, whenever possible, with practical cases.
•  Practical exercises are solved in each of the modules to apply the theoretical contents transmitted.
• Students will complete assignments on course topics, which will be presented in class.

• The objectives of the course are:

  To understand the importance of financial accounting within the information and management systems of organizations.
  To understand the accounting model in a progressive manner.
  To understand concepts that form the basis of knowledge about accounting standards (SNC-AP).

• The skills to be acquired are:

   To identify the objectives and justifications for recent changes in public accounting.
  Explain the difficulties of using the accrual basis in public accounting
  Compare International Public Sector Accounting Standards with international accounting standards for the business sector
  Identify the context of SNC-AP in terms of accounting harmonization, understand the structure of SNC-AP, analyze the new financial statements, interpret the new standards, and demonstrate their scope of application
  Resolve some of the internal and external operations of public entities from an accounting perspective, in accordance with the SNC-AP.

   

1. Current Trends in Public Accounting

2. The problem of applying the ‘accrual basis’ in Public Accounting.

3. Accounting Standardization System for Public Administrations (SNC-AP)

 General Structure SNC-AP

Conceptual Structure

Purposes and Users of Financial Statements

Elements of Financial Statements

4. Accounting Standardization System for Public Administrations (SNC-AP)

 Basis for Presentation of Financial Statements

Accounting principles

Accounting policies and their changes

General Purpose Financial Statements

– Balance

– Statement of results by nature

– Attachment to the financial statements

– Statement of changes in equity

– Statement of cash flows

Mandatory Disclosures

Events After Reporting Date

5. Treatment of Main Items in the Balance Sheet and Income Statement

Tangible fixed assets

Borrowing costs

Intangible Assets

Investment properties

Impairment

Leases

Inventories

Provisions, contingent liabilities and contingent assets

Revenue (transactions with and without consideration)

Employee Benefits

6. Sustainability in the Public Sector

Assessment is based on the combination of the following components:

a) Preparation and presentation of a research paper (40%)
b) Oral discussion/critique of a peer’s paper (5%)
c) In-class presentation of an SNC-AP Standard (25%)
d) Written test (30%)

The final grade (FG) corresponds to the sum of all assessment components. Students who obtain a final grade equal to or higher than 9.5 are deemed to have passed.

NAO