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  • ZUG2006 – Intermediate accounting using the International Financial Reporting Standards

ZUG2006 – Intermediate accounting using the International Financial Reporting Standards

Undergraduate – Unit

Refer to the specific census and withdrawal dates for the semester(s) in which this unit is offered.

School

Business and Economics

Offered

South Africa

  • Second Semester 2018 (Day)

15 Credits

Synopsis

The principal aim of this unit is to continue to provide students with the theoretical underpinnings and practical application of additional financial accounting standards as grounded in the International Financial Reporting Standards (IFRS). The unit enhances the study of the International Financial Reporting Standards that are applied in international financial accounting, including South Africa. It introduces new standards and focuses on the application of individual standards for share capital, earnings per share, accounting policies, estimates and errors, taxation and deferred taxation and cash flow statements. The unit also introduces accounting principles governing group accounts and the preparation of group statements.

Outcomes

  • Interpret the requirements of the financial reporting and regulatory environment, as required by the International Financial Reporting Standards and the Companies Act of 2008.
  • Apply IFRS recognition, measurement and disclosure requirements to the financial accounting of earnings per share, taxation, changes to accounting policies, estimates and errors.
  • Compile cash flow statements as required by IFRS.
  • Compile basic group accounts and group statements as required by IFRS.

Assessment

Within semester assessment: 40%
Examination: 60%

Workload requirements

Minimum total expected workload to achieve the learning outcomes for this unit is 150 hours per semester typically comprising a mixture of scheduled learning activities and independent study. Independent study may include associated readings, assessment and preparation for scheduled activities. The unit requires on average three/four hours of scheduled activities per week. Scheduled activities may include a combination of teacher directed learning, peer directed learning and online engagement.

Prerequisites

Introduction to accounting using International Reporting Standards

Prohibitions

Financial accounting B

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