Corporate Reporting

Department of Finance and

Investments

NUST Business School

National University of Sciences & Technology

BSACF 2k15
Course Details

Course Title: Corporate Reporting

Course Code: ACC-344 Credit Hours: 3
Program: BSACF 2k15 Sections: A & B

Course Faculty

Umair Ashraf
Office: Room 05, NUST Business School, NUST H-12, Islamabad
Consultation Hours: 2:00 pm – 3:30 pm (Wednesday&Friday)
Tel: 051-90853153
Email: umair.ashraf@nbs.nust.edu.pk

Course Description
Corporate Reporting assumes knowledge acquired at the Fundamental and Intermediate Levels including
the core technical capabilities to prepare and analyze Financial Reports for single and combined entities.
This course takes the subject matter into greater depth and contextualizes the role of the Finance
Manager as a professional steward and advisor/analyst by initially exploring the wider professional
duties and responsibilities of the Finance Manager to the Stakeholders of an organization.

The syllabus examines the Financial reporting Framework within which the Finance Manager operates
and examines detailed financial reporting requirements for entities leading to preparation of group
financial reports in accordance with International Financial Reporting Standards (IFRSs) and
pronouncements of other regulatory bodies.

Finally, the syllabus covers the evaluation of current developments and their implications for financial
reporting
Course focus and Modules:The main objective of this course is to develop an understanding of how
Corporate Financial Reports and Statements are presented. Basic Formats are discussed and Textbook
information is merged with IFRS Accounting and Reporting Standards to strengthen student knowledge
and judgment in Accounting Standards. The annual Corporate Reports of different Pakistani Companies

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are used as a case study to make the student explore the real life Financial Statements using sound
theoretical base built upon the courses taught in accounting.

Areas covered include :

 The Financial Reporting Framework

 Reporting the Financial Performance of Entities
 Financial Statements of Group of Entities
 Implications of changes in Accounting Regulation on Financial Reporting
 Current Developments

Course Learning Outcomes (CLO)

Upon successful completion of the course, students should be able to:

1) Discuss and apply conceptual and regulatory frameworks for financial reporting.

2) Appreciate the reporting framework governed by the International Accounting Standards

Committee (IASC) by having reasonable knowledge of the IFRSs capturing various
areas of financial operations of an organization.

3) Demonstrate a reasonable understating and application of the complex accounting

topics like Consolidated Accounts, Deferred Tax, and Financial Instruments etc primarily
based upon IFRSs.

4) Account for all financial transactions of an entity in accordance with International

Financial Reporting Standards.

5) Prepare and present financial statements for single entities and business combinations
in accordance with International accounting standards.

6) Evaluate the financial reporting framework.

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Undergraduate Program Learning Goals and Objectives

a) Provide an in-depth knowledge of principal methods and techniques of accounting and financial
management.
b) Instill a structured approach in students to effectively deal with complex business issues.
c) Prepare students for the role of accounting/ finance professionals who can add value to all
areas of organization.
d) Enhance interpersonal, team building, communication and leadership skills.
e) Incorporate a sense of professional ethics and responsibility.
f) Provide hands on training in different soft wares in accounting and finance.
g) Enter into collaborative arrangements with various local and international accounting and
finance bodies.

Indicate below how the course learning objectives/outcomes specifically related to any program
learning goals and objectives.
PROGRAM LEARNING GOALS COURSE LEARNING COURSE ASSESSMENT
AND OBJECTIVES OBJECTIVES ITEM
Goal 1- Provide an in-depth
knowledge of principal methods Annual Reports of
and techniques of accounting (CLO 1-6) Companies, CP,Quizzes
and financial management. and Exam

Goal 2 -Instill a structured

approach in students to Annual Reports of
effectively deal with complex (CLO 1-6) Companies, CP,Quizzes
business issues. and Exam

Goal 3 - Prepare students for the

role of accounting/ finance Annual Reports of
(CLO 1- 6) Companies, CP,Quizzes
professionals who can add value
and Exam
to all areas of organization.

Goal 4 - Enhance interpersonal, Annual Reports of

(CLO 1- 6) Companies, CP,Quizzes
team building, communication
and Exam

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 and leadership skills.

Annual Reports of
Goal 5- An appreciation of
professional and ethical (CLO 1- 6) Companies, CP, Quizzes
responsibilities and Exam
Annual Reports of
Goal 6- Provide hands on
training in different soft wares in (CLO 1- 6) Companies, CP, Quizzes
accounting and finance. and Exam
Goal 7-Enter into collaborative
arrangements with various local Annual Reports of
and international accounting and (CLO 1- 6) Companies, CP,Quizzes
finance bodies. and Exam

Course Evaluation (Grade Breakup)

Grading will be done as per NBS criteria. The breakup of the grade points is as follows:
Final Exam 40%
Midterm 20%
Final Project 20%
Quizzes 10%
Assignments10%
(Including Class Activities/Case Study Discussions)

Course Content (Weekly)

Weekly breakdown is given below

Session Outcomes
Week Lecture No. and Topic Reading (Students should be able
to…)
1 Orientation

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LECTURE 1:Overview of
Corporate Reporting and
1 International Accounting
Presentation of Financial
Statements
LECTURE 2:Conceptual and
2 Regulatory framework governing
Corporate Reporting
LECTURE 3: Overview of Group
Accounts in the light of IFRS.
3 Financial Statements
Accounting for Investment in
Companies
6
Discuss and apply
conceptual and regulatory
frameworks for financial
reporting.
Appreciate the reporting
IAS 1-Presentation of
framework governed by the
Financial Statements
Standards Committee
(IASC) by having
reasonable knowledge of
the IFRSs capturing various
areas of financial operations
of an organization.
(CLO #1,2)
Discuss and apply
conceptual and regulatory
frameworks for financial
reporting.
IFRS Conceptual Appreciate the reporting
framework governed by the
framework
International Accounting
Corporate Legal
Standards Committee
Framework
(IASC) by having
reasonable knowledge of
the IFRSs capturing various
areas of financial operations
of an organization.
(CLO #1,2)
Appreciate the reporting
framework governed by the
International Accounting
IFRS 3-Business Standards Committee
Combinations (IASC) by having
IFRS 10- reasonable knowledge of
the IFRSs capturing various
Consolidated
areas of financial operations
of an organization.
IFRS 11 Joint
(CLO # 2)
Arrangements
IFRS 13- Fair Value
Demonstrate a reasonable
Measurement understating and application
of the complex accounting
topics like Consolidated
Accounts, Deferred Tax,

LECTURE 4:Group Accounts and
Consolidation with relevant IFRS
4 Exercising of Control
Consolidation of subsidiary with
Acquisition Method of Accounting
Exercising of Significant Influence
Consolidation of an Associate
5 with Equity Method of Accounting IFRS 11 Joint
Three company consolidation-
Parent with a subsidiary and an
Associate
7
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)
Prepare and present
financial statements for
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)
Appreciate the reporting
framework governed by the
International Accounting
Standards Committee
(IASC) by having
reasonable knowledge of
IFRS 3-Business the IFRSs capturing various
Combinations areas of financial operations
IFRS 10- of an organization.
Consolidated (CLO # 2)
Financial Statements
IFRS 11 Joint Demonstrate a reasonable
Arrangements understating and application
IFRS 13- Fair Value of the complex accounting
Measurement topics like Consolidated
Accounts, Deferred Tax,
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)
Appreciate the reporting
IFRS 3-Business
framework governed by the
Combinations
International Accounting
IFRS 10-
Standards Committee
Consolidated (IASC) by having
Financial Statements reasonable knowledge of
the IFRSs capturing various
Arrangements areas of financial operations
IFRS 13- Fair Value of an organization.
Measurement (CLO # 2)
IAS 28- Investment in
Associates and Joint
Demonstrate a reasonable
Ventures
understating and application

Financial Instruments (FI) with
relevant IFRS
6 An overview of FI with practical
perspective
How to identify a Financial
Instrument
Financial Instruments (FI)
Financial Assets
Investments in Equity
7 Instruments
Fair Value through P&L
Fair value through OCI
8
of the complex accounting
topics like Consolidated
Accounts, Deferred Tax,
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)
Evaluate the financial
reporting framework.
(CLO # 6)
Appreciate the reporting
framework governed by the
International Accounting
Standards Committee
(IASC) by having
reasonable knowledge of
the IFRSs capturing various
areas of financial operations
IFRS 7- Financial
Instruments of an organization.
Disclosures (CLO # 2)
IFRS 9- Financial Demonstrate a reasonable
Instruments understating and application
of the complex accounting
topics like Consolidated
Accounts, Deferred Tax,
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)
Appreciate the reporting
framework governed by the
International Accounting
Standards Committee
IFRS 7- Financial (IASC) by having
Instruments reasonable knowledge of
the IFRSs capturing various
Disclosures
areas of financial operations
IFRS 9- Financial of an organization.
Instruments (CLO # 2)
Demonstrate a reasonable
understating and application
of the complex accounting
topics like Consolidated
 Accounts, Deferred Tax,
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)

Appreciate the reporting

framework governed by the
International Accounting
Standards Committee
Financial Instruments (FI) (IASC) by having
reasonable knowledge of
Financial Assets
the IFRSs capturing various
Investments in Debt Instruments areas of financial operations
Amortized Cost of an organization.
(CLO # 2)
Fair Value through P&L
IFRS 7- Financial
Fair value through OCI Demonstrate a reasonable
Instruments
Financial Instruments (FI) Disclosures
understating and application
8 of the complex accounting
Financial Liabilities topics like Consolidated
IFRS 9- Financial
Debt Instruments Instruments Accounts, Deferred Tax,
and Financial Instruments
Convertible Bonds
etc primarily based upon
Fair Value through IFRSs.
P&L (CLO # 3)
Prepare and present
Amortized Cost financial statements for
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)

9 MID-TERM EXAM WEEK

Accounting for Income Taxes – Appreciate the reporting

IAS 12 framework governed by the
International Accounting
Deferred Tax and Current Standards Committee
Tax (IASC) by having
10 IAS 12-Income Taxes reasonable knowledge of
Temporary and
the IFRSs capturing various
Permanent Differences areas of financial operations
Deferred Tax Liability of an organization.
(CLO # 2)
Deferred Tax Assets

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 How to calculate tax liability with
reference to Tax Law of the
Country
Earnings Per Share – IAS 33
Simple vs Complex Capital
Structure
11 Basic Earnings Per Share
Diluted Earnings Per Share – IAS
33
Demonstrate a reasonable
understating and application
of the complex accounting
topics like Consolidated
Accounts, Deferred Tax,
and Financial Instruments
etc primarily based upon
IFRSs.
(CLO # 3)
Prepare and present
financial statements for
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)
Account for all financial
transactions of an entity in
accordance with
IAS 33- Earnings Per International Financial
Share Reporting Standards. (CLO
# 4)

Account for all financial

transactions of an entity in
accordance with
International Financial
Reporting Standards. (CLO
IAS 21-The Effects of # 4)
The effects of Changes in
12 changes in Foreign
Prepare and present
Foreign exchange Rates financial statements for
Exchange Rates
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)
Account for all financial
transactions of an entity in
Leases – IAS 17 accordance with
13 IFRS 16- Leases
International Financial
Reporting Standards. (CLO
# 4)

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Depreciation, Impairments
14 and Depletion – IAS 36
Cash Flow Statements
15 Construction Contracts - IAS 11
Investment Property IAS 40
16 Non Current Assets
considerations
11
Prepare and present
financial statements for
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)
Account for all financial
transactions of an entity in
accordance with
International Financial
IAS 16 Property Plant Reporting Standards. (CLO
and Equipment # 4)
IAS 36- Impairment of Prepare and present
Assets financial statements for
IAS 38-Intangible single entities and business
Assets combinations in accordance
with International
accounting standards. (CLO
# 5)
Account for all financial
transactions of an entity in
accordance with
International Financial
Reporting Standards. (CLO
# 4)
IAS 7- Statement of Prepare and present
Cash Flows financial statements for
single entities and business
combinations in accordance
with International
accounting standards. (CLO
# 5)
Account for all financial
transactions of an entity in
accordance with
IAS 40- Investment International Financial
Property Reporting Standards. (CLO
IFRS 5- Non Current # 4)
Assets
Prepare and present
financial statements for
single entities and business
 combinations in accordance
with International
accounting standards. (CLO
# 5)
Evaluate the financial
reporting framework.
(CLO # 6)
17 BUFFER WEEK
18 FINAL EXAM WEEK

Required Course Material

The textbook for this course is:

1. ACCA – Corporate Reporting ( International and UK Stream, 2017 )

2. “ICAP: Financial Accounting and Reporting”
3. Intermediate Accounting , Kieso , Weygandt and Warfield , 14th Edition, 2011 , Publishers: John
Wiley & Sons
4. Summary of IFRS

Supplemental readings may also be used from academic and business journals.
Reading financial sections of newspapers and/or periodicals is encouraged.

Additional Recommended readings

Students are encouraged to read financial publications such as the Wall Street Journal, Financial
Times, Business Recorder to stay abreast of developments related to this course

Dates to Remember

The dates/weeks provided in this section are a reasonable estimate of due dates for quizzes,
assignments and project related material submission. These may be subject to modification by
the instructor due to unforeseen circumstances/minor modifications in course. However, until
informed so, please consider these dates/weeks as final.

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 Date Item Due

Announced Quiz No. 1

Project Titles Finalized
Assignment No. 1 (In-Class)
Announced Quiz No. 2
Assignment No. 2 Due
Announced Quiz No. 3
Announced Quiz No. 4
Written Report Submission
Group Presentations

Bear in mind that it is the responsibility of the student to continuously keep track of
these dates/weeks/lecture outline and any student not prepared for the class will be
marked negatively in CP as well as the relevant class activity

Do’s and Don’ts of Class

DO
Come to class on time and having completed
the reading material.
Take notes during the lectures.
DON’T
Submit assignments, quizzes late. Such
assignments and quizzes will not be accepted.
Cause disturbance in class. If you have a
question, address it to the lecturer.

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 Ask questions that are relevant to the topic
being discussed and participate actively in
class discussions and activities.
Let the lecturer know in advance if you need to
miss a class.
Walk in and out of class during the lecture as you
please. If you have an emergency, let the lecturer
know.
Come to class without your own copy of reading
materialassigned for that week.

Constantly check the deadlines that are due. Ask the lecturer to reschedule deadlines.

Constantly monitor the course outline and have

Ask the lecturer to change attendance details.
it with you at all times.

Research topics and news items for

Eat/Drink food in class.
constructive (and respectful) in-class debates.

Sample Front Page for Report/Assignments

Do Notforget to write some form of

identification on each document that is due for
Switch off/Put your phones on silent during
submission of any kind. It is not anyone’s
class.
responsibility to keep track of the author of such
documents but the author himself/herself.

(You may retain or delete or modify as per your requirement)

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 NUST Business School

ACC-344 – Corporate Reporting

Topic of Report/Assignment

Submitted to;
Faculty Name
Submitted by;
xxx
BSACF 2K15A/B

Date: xx Month, 2017.

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