The document provides details on the new format for outcome-based education (OBE) lesson plans at Universiti Teknologi Mara. It includes information on the Bachelor of Accountancy program such as program and course codes, course name, outcomes, and a course-program outcome matrix. The lesson plan structure lists 9 topics to be covered across 9 weeks, along with the contact hours, learning outcomes, related course and program outcomes, learning models, and assessment for each topic. Key topics include MFRS 116 on property, plant & equipment, MFRS 5 on non-current assets held for sale, and MFRS 117 on leases.
The document provides details on the new format for outcome-based education (OBE) lesson plans at Universiti Teknologi Mara. It includes information on the Bachelor of Accountancy program such as program and course codes, course name, outcomes, and a course-program outcome matrix. The lesson plan structure lists 9 topics to be covered across 9 weeks, along with the contact hours, learning outcomes, related course and program outcomes, learning models, and assessment for each topic. Key topics include MFRS 116 on property, plant & equipment, MFRS 5 on non-current assets held for sale, and MFRS 117 on leases.
The document provides details on the new format for outcome-based education (OBE) lesson plans at Universiti Teknologi Mara. It includes information on the Bachelor of Accountancy program such as program and course codes, course name, outcomes, and a course-program outcome matrix. The lesson plan structure lists 9 topics to be covered across 9 weeks, along with the contact hours, learning outcomes, related course and program outcomes, learning models, and assessment for each topic. Key topics include MFRS 116 on property, plant & equipment, MFRS 5 on non-current assets held for sale, and MFRS 117 on leases.
FAKULTI PERAKAUNAN UNIVERSITI TEKNOLOGI MARA 40450, SHAH ALAM
Semester: March 2014
PROGRAM NAME : BACHELOR OF ACCOUNTANCY (HONS) PROGRAM CODE : AC220 COURSE NAME : PRINCIPLES AND APPLICATION OF FINANCIALREPORTING STANDARDS 1 COURSE CODE : FAR 400 LECTURE : 2 hours / week TUTORIAL : 1 hour / week LECTURER : MADAM NIK ZAM NIK WAN / ROOM NO: D4-35 / CONTACT NO: 013-3824527
COURSE OUTCOMES
CO1 Explain the relevant requirements of financial reporting standards pertaining to non-current assets: property, plant and equipment, investment property, leases, intangible assets, non-current assets held for sale and impairment. CO2 Explain the relevant requirements of financial reporting standards pertaining to reporting performance of an enterprise: changes in accounting policies, changes in accounting estimates and errors, provisions and contingencies and the effects of foreign currency transactions. CO3 Apply the financial reporting standards in preparing financial statements for public companies including discontinued operation. CO4 Prepare the annual financial statements for publication purpose. These include statement of financial position, statement of comprehensive income, statement of changes in equity, statement of cash flows and notes to the financial statements. CO5 Evaluate the financial position and performance of companies. New format for OBE-SCL Lesson Plan March 2014
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CO6 Critically discuss the ethical issues in financial reporting process PROGRAM OUTCOMES
PO1 able to apply knowledge and understanding of accounting and other business applications in an organization PO2 able to prepare financial statements in accordance with approved accounting standards and report socio-economic events which affect organizations PO3 able to prepare tax return, provide tax consultation and perform audits for business entities using appropriate technologies PO4 able to use and evaluate information technologies and systems for the attainment of organizational objectives PO5 able to provide, interpret, evaluate and critically analyze financial and non-financial information in assisting management to make organizational decisions PO6 able to communicate effectively, both written and verbal PO7 able to work collaboratively in a team to serve stakeholders' interests PO8 able to demonstrate behavior consistent with professional ethics and social responsibility PO9 able to engage information management, demonstrate a commitment to life-long learning and professional development PO10 able to demonstrate entrepreneurial skills PO11 able to demonstrate leadership skills
CO-PO MATRIX
PO1 PO2 PO3 PO4 PO5 PO6 PO7 PO8 PO9 PO10 PO11 CO1
CO2
CO3
CO4
CO5
CO6
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PLAN STRUCTURE NO WEEK TOPIC CONTACT HOURS LECTURE/TUTORIAL COVERAGE TOPIC OUTCOME (TO) CO PO LEARNING MODEL ASSESSMENT
1 1 INTRODUCTION TO OBE
Ice breaking Overview of OBE Overview of the course via lesson plan and syllabus contents
Ability to: Understand the significance important of adopting OBE for the course. Recognize program educational objectives (PEOs). Recognize program outcomes (POs). Recognize the course outcomes (COs). Recognize the course topic outcomes (TOs).
Sharing of materials and information
Entrance survey 2 1 & 2 MFRS 116 PROPERTY, PLANT AND EQUIPMENT 5 (3L,2T) Property, plant and equipment
Ability to:. Define property, plant and equipment Explain the recognition criteria of property, plant and equipment Determine the initial costs of property, plant and equipment. Show the relevant accounting entries for the acquisition of property, plant and equipment and disclosure in the statement of financial CO1
position. Explain the recognition criteria of subsequent expenditure as part of the carrying value of property, plant and equipment. Explain the accounting treatment of subsequent expenditure and show the relevant accounting entries and disclosure in the statement of profit or loss and statement of financial position. Explain the initial measurement of property, plant and equipment Explain the accounting treatment of subsequent measurement of property, plant and equipment. Account for depreciation. Account for derecognition of property, plant and equipment Explain the disclosure requirements of FRS 116 on property, plant and equipment. 3 2 & 3 MFRS 123 BORROWING COSTS 2 (1L,1T) Borrowing costs
Ability to: Define borrowing costs Define qualifying expenditure CO1 PO1 PO3 PO8 Lecture & Tutorial
Test 1
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Discuss the possible treatments of borrowing costs incurred in construction or development of qualifying assets (commencement, suspension and cessation) Prepare the relevant accounting entries and disclosure in the statement of profit or loss and statement of financial position.
4
3
MFRS 120 ACCOUNTING FOR GOVERNMENT GRANTS AND DISCLOSURE OF GOVERNMENT ASSISTANCE 2 (1L,1T)
Accounting for government grant
Ability to: Define government grants Explain the recognition criteria of government grants Discuss the possible accounting treatments for government grants Explain the presentation and disclosure requirements CO1 PO1 PO3 PO8 Lecture & Tutorial Test 1
5 4 MFRS 5 NON-CURRENT ASSETS HELD FOR SALE AND DISCONTINUED OPERATION
2 (1L,1T) Non-current assets held for sale Discontinued operation
Ability to: Explain what is non-current assets held for sale and discontinued operation Explain the criteria to be satisfied before non-current asset could be classified as held for sale Explain the measurement of non-current assets held for sale Explain the disclosure CO1 PO1 PO3 PO8 Test 1
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requirement of non-current assets held for sale Explain discontinued operation and the presentation of discontinued operations on the face of the statement of profit or loss 6
4 & 5
MFRS 140 INVESTMENT PROPERTY 3 (2L, 1T))
Investment property
Ability to: Define investment property Explain examples of investment property Explain the recognition criteria of investment property Compute the initial cost of investment property Discuss the initial measurement of investment property Discuss the subsequent measurement of investment property Discuss the measurement upon transfer from property, plant and equipment to investment property and investment property to property, plant and equipment Prepare the relevant accounting entries and disclosure in the statement of CO1
PO1 PO3 PO8
Lecture & Tutorial
Test 2
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profit or loss and statement of financial position 7 5 & 6 MFRS 136 IMPAIRMENT OF ASSETS 3 (2L, 1T) Impairment of assets Reversal of impairment loss Ability to: Define impairment Test for impairment Determine the impairment loss for individual assets and cash-generating unit (CGU) Determine the reversal of impairment loss for individual assets and the cash-generating unit Prepare relevant accounting entries and disclosure in the statement of profit or loss and statement of financial position CO1
PO1 PO3 PO8
Lecture & Tutorial
Test 2
8 6, 7 & 8 MFRS 117 LEASES 5 (3L, 2T)
Finance lease in Lessees books Finance lease in Lessors books Operating lease in the books of the lessee and the lessor
Ability to: Define leases Discuss the principle of substance over form in relation to leases Distinguish between finance lease and operating lease (classification criteria) Explain the accounting treatment for finance lease in the books of the lessee Explain the accounting treatment for finance lease in the books of the lessor Explain the accounting CO1
PO1 PO3 PO8
Lecture & Tutorial Test 2 (exclude prepaid lease)
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Sale and leaseback Leaseback is a finance lease Books of lessee and lessor
treatment for operating lease in the books of the lessee and the lessor
Discuss the reasons for sale and leaseback Explain the accounting treatment for sale and leaseback when the leaseback is a finance lease Explain the accounting treatment in the books of the lessee and the lessor Explain the accounting treatment for sale and leaseback when leaseback is an operating lease
Final examination 9 8 & 9 MFRS 138 INTANGIBLES 4 (2L,2T)) Intangible assets Internally generated intangible assets Research and Development
Ability to: Define intangible assets Explain examples of intangible assets Discuss the recognition criteria of intangible assets Determine the initial cost of intangible assets Determine the initial measurement of intangible assets Assess whether the intangible assets has a finite or indefinite useful life. Test for impairment CO1 PO1 PO3 PO8 Lecture & Tutorial
Final examination
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Explain the subsequent measurement of intangible assets that have definite life and indefinite life Explain the accounting treatment for research and development Show relevant entries for intangible assets Explain the disclosure requirements of intangible assets 10 9 & 10
MFRS 108 ACCOUNTING POLICIES, CHANGES IN ACCOUNTING ESTIMATES AND ERRORS 3 (2L,1T) Changes in accounting policies Changes in accounting estimates Prior period error
Ability to: Define accounting policies, accounting estimates and errors Explain the accounting treatment for changes in accounting policies and changes in accounting estimates Explain the accounting treatment for prior period error Explain why changes in accounting policies and errors affect the statement of changes in equity (Retained Profit) but not changes in accounting estimates Show the relevant entries in the journal , ledger, statement CO2 PO1 PO3 PO8 Lecture & Tutorial
Final examination (include all MFRSs within FAR 400 syllabus)
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of profit or loss and statement of financial position Explain the disclosure requirement 11
Ability to: Define provisions Define contingent liability Distinguish between provision and contingent liability Explain the difference between provision and liability Explain the recognition of provision that give rise to liability Explain the accounting treatment for provision and contingent liability Define contingent assets Explain the recognition of contingent liability and contingent asset Explain the accounting treatment for contingent assets, onerous contract, future operating losses and restructuring Explain the disclosure requirement CO2 PO1 PO3 PO8 Lecture & Tutorial
Final examination
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12 11&12 MFRS 121 FOREIGN CURRENCY TRANSACTIONS
2 (1L,1T) Foreign currency transactions Ability to: Explain foreign currency transactions and relevant rate used Compute difference on exchange and its accounting treatment in the statement of profit or loss and statement of financial position Show the relevant entries for foreign currency transactions in the journal ledger, statement of profit or loss and statement of financial position CO2 PO1 PO3 PO8 Lecture & Tutorial Final examination
13 12, 13 & 14 MFRS 101 PREPARATION OF FINANCIAL STATEMENTS FOR PUBLICATION 8 (4L& 4T) Preparation of financial statements in compliance with MFRS 101 and the Malaysian Companies Act 1965 Adjustments to financial statements based on all MFRSs above.
Ability to: Prepare Statement of Profit or loss Prepare Statement of Changes in Equity Prepare Statement of Financial Position Prepare notes to the financial statements Calculate and interpret the following ratios based on the annual reports: o Performance ratios o Liquidity ratios o Valuation ratios o Analysis of capital structure CO3 CO4 CO5 PO1 PO2 PO3 PO4 PO8 PO9 PO11 Lecture & Tutorial Final examination
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Statement of Cash Flows in compliance with MFRS 107
Prepare Statement of Cash Flows using direct method Reconciliation of cash flows from operation with the net profit for the period Prepare Statement of Cash Flows using indirect method Quiz 2 & Final examination