BRAC University

BRAC Business School

ACT431: Advanced Accounting
Detailed Course Outline

Faculty: Nikhil Chandra Shil, FCMA

E-mail: nikhilacc@yahoo.com
Cell: 01819289589

Class Schedule: Day Time Room

Sunday 9:30 – 10:50 UB20104
Tuesday 9:30 – 10:50 UB20104

Consulting Time: Day Time

Sunday 8:30 – 9:30
Tuesday 8:30 – 9:30

Course Objectives:
This course is designed to achieve the following objectives:
a. To provide a conceptual framework of accounting; procedures and methods of financial reporting;
b. To provide accounting concepts related to assets, liabilities and equities;
c. To familiarize students with accounting for lease with related IAS and IFRS;
d. To provide elaborative understanding on financial reporting of assets and liabilities with due
emphasis on international accounting standards;
e. To familiarize students with accounting process of business combination with due focus on related
IAS and IFRS; and
f. To familiarize students with consolidated accounting reports and their contents.

Teaching Methods: Lectures, participatory discussions and assignments

Quizzes: In total 3 quizzes will be taken. Out of 3 best 2 will be counted. There will be no
makeup quiz.

Evaluation: Performance will be evaluated as stated below –

Particulars Percentage (%)

Attendance 05
Participation 05
Quizzes 15
Assignment 10
Mid-term 20
Final Exam (comprehensive) 45
Total 100

Grading: As per BRACU rules

Mid-Term Schedule: As per BRACU schedule
Final Examination Schedule: As per BRACU schedule
The final examination will be comprehensive and will consist of short and long answer questions and
problems.
Course Contents

A. Accounting Conceptual Framework

(a) History of IASC and IASB
(b) Accounting Conceptual Framework of IASC
(c) Detail principles based on the IASC conceptual framework

B. Presentation of Financial Statements (IAS 1)

(a) Statement of Financial Position according to IAS 1
(b) Statement of Financial Performance according to IAS 1
(c) Presentation of expenses by function
(d) Presentation of expense by nature

C. Lease Accounting (IAS 18)

(a) Definitions and types of lease
(b) Finance lease and Operating lease
(c) Characteristics of a finance lease
(d) Accounting treatments and reporting of lease

D. Goodwill and intangible assets (IAS 38)

(a) Define and calculate goodwill
(b) Distinguish between purchased and internally generated goodwill
(c) Explain and apply the accounting treatment for both types of goodwill
(d) Explain and apply the requirements of International Accounting Standards for intangible assets

E. Consolidated accounts (IFRS 3 and IAS 27)

(a) Groups of companies – preparation of basic consolidated financial statements for a simple group
(i) consolidated statement of financial position
(ii) consolidated statement of comprehensive income and income statement
(b) Overview of distinction between a subsidiary and an associate

F. Accounting for change in foreign currency rates (IAS 21)

G. Sustainability – Environmental and Social Accounting

H. Miscellaneous Topics

Text Books
1. Financial Accounting and Reporting 14th Edition by Barry Elliot and Jamie Elliot (Prentice Hall )
2. Advanced Financial Accounting (6th edition) by: Baker, Lembke & King (McGraw-Hill).
3. Applying International Accounting Standards by Keith Alfredson, Ken Leo, Ruth Picker, Pual Pacter
and Jennie Radford (Wiley)
4. Other reading material will be provided