Afa Course Outline 2023 Sem 1-1

University of Zimbabwe
FACULTY OF BUSINESS MANAGEMENT SCIENCES AND ECONOMICS
Department of Finance and Accounting
COURSE OUTLINE
COURSE TITLE: - Advanced Financial Accounting & Corporate Reporting
COURSE NUMBER: - ACCN
NAME OF LECTURER: - Mr T. Tazvishaya (0773 610 198)
Mrs D Jemwa (0772 701 450)
Contact details: -
Emails: tangaitazvishaya@gmail.com
(1) Description and Rationale
Building on Business Accounting, Intermediate Financial Accounting 1 and 2, students examine

will examine several complex topics and their effect on financial reporting and disclosure. Topics
will include AIS/IFRS not yet covered in prand the development of accounting standards;
temporary and long-term investments in debt and equity securities; business combinations;
consolidation at acquisition; consolidation subsequent to acquisition; consolidation and
intercompany profit in inventory, land, and depreciable assets; foreign currency transactions;
translation and consolidation of international operations; and accounting for not-for-profit
organizations including public sector reporting.
(2) Aims of the Course
 To make students understand the IAS/IFRS concepts, principles and their implications on
financial reporting
 To make students apply the principles learnt in computing the necessary calculations needed in
financial statements preparation
 Review the notes prepared incorrectly and prepare a correct note
 To make students understand the increasing need for non-financial reporting information
 To expose the students to the research work in the finance and accounting field
(3) Learning Outcomes
 Apply conceptual principles when selecting appropriate accounting policies.

 Demonstrate the ability to assess a situation, identify issues and alternatives, and provide a
recommendation using advanced accounting knowledge and ethical professional judgment.
 Classify and account for various financial instruments using International Financial Accounting
Standards.
 Explain the concept of business combinations and the main theories and methods of accounting
for business combinations.
 Prepare consolidated financial statements at acquisition and in subsequent years for both fully
owned and partially owned subsidiaries.
 Apply the equity method of accounting for joint ventures (IFRS 11).
 Translate foreign currency transactions and account for fair value and cash flow hedges.
 Choose and apply the proper method to translate and consolidate foreign operations.
 Explain the objectives of not-for-profit organizations and account for these organizations using
the guidelines in Part III of the CPA Canada Handbook. Apply the deferral method and the
restricted fund method. Apply fund accounting and budgetary control.
 Describe the financial reporting objectives for government and discuss the reporting issues
relevant to government
 Explain the purpose of accounting information as a basis for decision-making;
 Identify extant user groups of financial reports;
 Analyse and interpret financial reports of international enterprises;
 Review selected accounting standards and discusses their theoretical underpinning.
 Skills Development
Communication: To help with the development of this you will present your proposal of
the solution to your peers in a lecture environment which will be interactive in nature.
Information Literacy: To help with the development of this you will be required to
demonstrate your ability in interpreting and discriminating between relevant and
irrelevant information both during your class tests and during your self assessment tests.
Research and Evaluation: To help with the development of this you will be led to read
the necessary regulations of the Companies Act and The London Stock Exchange in
order to identify relevant articles in the subject area of study.
Creativity and Critical Thinking: To help with the development of this you will be
required to be able to critically distinguish between research that is relevant and that
which is not applicable in the context of the case being studied.
(4) Course Content
Topic IFRS/Conceptual Framework/ Model Status

Topic 1 Recap of the need for Financial Reporting/IASB’s Awareness Level
Conceptual Framework for General Purpose
Financial Statments
Topic 2 Recap of IAS/IFRS -Introductory- Intermediate Awareness Level
Level to gauge knowledge
IAS 2, IAS 7, IAS 8, IAS 10, IAS 16, IAS 20, IAS Awareness Level
23, IAS 36, IAS 37, IAS 38, IAS 40, IAS 41, IFRS
1, IFRS 5, IFRS 8
Topic 3 Accounting for Taxes- IAS 12 Examinable
Topic 4 Accounting Revenues – IFRS 15 Examinable
Topic 5 Accounting for Leases -IFRS 16 Examinable
Topic 6 Accounting fir Financial Instruments-IAS32/IFRS Examinable
9
Topic 7 Accounting for Groups- Simple- Complex Examinable
IAS27,IAS 28, IFRS 3, IFRS 10, IFRS 11, IFRS
12
Topic 8 Group Cashflow Statements -IAS 7 Examinable
Topic 9 Financial Statement Analysis- IAS 33 Examinable
General Performance Evaluation
Topic 10 Emerging Issues – Examinable
- Sustainability Reporting/ ESG
- Big Data Analytics
- Integrated Reporting
- Public Private Partnership
Topic 11 Share Bases Payments -IFRS 2 Examinable
Topic 12 Employee Benefits -IAS 19 Examinable
Topic 13 IAS 24 Related Party Disclosures Examinable
(6) METHODS/STRATEGIES OF TEACHING
The teaching strategy will include lectures, case studies, academic journals, group discussions, class
presentations, power point projector and chalk and board. Each topic will be introduced by a lecture to
provide information and ideas, and to raise questions and promote discussion. Lectures will not normally
last longer than 2 hours, and the remainder of each four hour session will be taken up with exercises,
discussions and case study analysis. Seminar sessions will usually involve the working of exercises which
will require students to demonstrate an understanding of theory and application to a specific case in
Accounting. This is very important, as your assessments for this course will require the use and
development of critical thinking and other analytical skills.
Work on this course will necessitate considerable self-study time outside the classroom. You should be
ready for this, and plan your time accordingly. The more reading you do, and the more exercises you
work (there are plenty in the text book), the more successful you will be. Some of this self study work
will be by e-learning using appropriate online material. You will be expected to access Annual Reports
of selected corporate web sites.
(7) ASSESSMENT SCHEME
The assessment structure for the course is made up of the following broad components in the
proportions shown in the table below:
Graded Individual Written Assignments & 1 In-class Test 30%
Presentations 20%
Total Course Work 50%
Final Examination-----------------------------------------------------------------------------------------50%
TOTAL===========================================================100%
Plagiarism
To plagiarise is to take and use another person's thoughts, writings or inventions as one's own, without
acknowledging or giving the source of the ideas and expressions. Remember that if you present material
that you have not written as if it were your own (i.e. without attributing your source by providing a
reference), or if you copy work from another student this is viewed as a serious academic offence. Please
be aware that when you sign the front sheet before submitting your work you are certifying that you fully
understand what plagiarism is and that the work you are submitting is all your own.
Plagiarism detection software will be used in this course. If evidence of plagiarism is found in your work,
you risk failing the course or being asked to withdraw from the course. To avoid any charge of
plagiarism, you must give credit whenever you use:
 another person’s idea, opinion, or theory;
 any facts, statistics, graphs, drawings, tables or accounts – any pieces of information that are not
common knowledge;
 quotations of another person’s actual spoken or written words; or
 a paraphrase of another person’s spoken or written words.
Using large sections of material that have been cut and pasted from the internet is not generally
acceptable even if you supply details of the source. The work you submit should be in your own words,
except if you are quoting directly from a source: e.g. a definition. But use direct quotations very sparingly
and provide quotation marks with the page number from the original source, in accordance with good
referencing practice.
(8) Essential Readings
Core Text
(a) Descriptive Accounting Textbook IFRS Focus
Supporting Texts
(b)

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University of Zimbabwe

FACULTY OF BUSINESS MANAGEMENT SCIENCES AND ECONOMICS

Department of Finance and Accounting

COURSE TITLE: - Advanced Financial Accounting & Corporate Reporting

COURSE NUMBER: - ACCN

NAME OF LECTURER: - Mr T. Tazvishaya (0773 610 198)

Mrs D Jemwa (0772 701 450)

(1) Description and Rationale

Building on Business Accounting, Intermediate Financial Accounting 1 and 2, students examine

(2) Aims of the Course

 Review the notes prepared incorrectly and prepare a correct note

(3) Learning Outcomes

 Apply conceptual principles when selecting appropriate accounting policies.

(4) Course Content

Topic IFRS/Conceptual Framework/ Model Status

(6) METHODS/STRATEGIES OF TEACHING

(7) ASSESSMENT SCHEME

Graded Individual Written Assignments & 1 In-class Test 30%

Total Course Work 50%

(8) Essential Readings

(a) Descriptive Accounting Textbook IFRS Focus

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