Financial Management Presentation Arrangement

ABFA3134
Financial Accounting Framework

2 DAC - 2013/2014

My Name: Soo Kee Heng
Room: R105
Consultation Hours: TBC

Structure of the course:
3 Hours Lecturer per week
2 Hours Tutorial per week
Coursework 40% [Week 6 & 9]
Examination 60%

Contents:

7.

Framework
Property, Plant & Equipment
Impairment of Assets
Intangible Assets
Inventories
Financial Statements
Events after the reporting period

8.

Provisions, contingent liabilities & contingent assets

1.
2.
3.

4.
5.
6.

Income taxes
10. Redemption of Preference Shares
11. Published Financial Statements
12. Group Account
9.

Framework
 MASB:

continually improving the quality of financial reporting in
Malaysia

 IASB:

seeks to harmonise regulation, accounting standards and procedures relating to the preparation and presentation of financial statements

Purpose and Status

 Development

of future accounting standards and review for adoption of existing standards.
 Basis for selecting between alternative accounting principles
 Focus on particular needs
 Basis for reconciling differences
 Assist preparers, auditors, users
…

Scope
 Objective

of financial statements  Qualitative characteristics
 Definition, recognition and measurement of the elements
 Capital and capital maintenance

Financial Reporting
 Investment
 Assessing

and credit decisions

cash flow prospects

 Resources,

claims and changes

Users and their needs
 Investors
 Employees
 Lenders

 Suppliers

/ payables
 Customers / receivables
 Government & their agencies
 Public

Financial Statements
- Objective
 Financial

position

 Performance
 Changes

Notes

Underlying Assumptions: Going Concern
 The

entity is normally viewed as a going concern, that is continuing in operation for the foreseeable future.
 It is assumed that the entity has neither the intention nor the necessity
of