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Module Title
Financial Reporting and Taxation CIMA F1

Keywords
Financial statements, Consolidated statements, Regulation, Ethics, Corporate, Income and Capital taxes, International taxation, Corporate governance.

ReferenceBS2372
SCQF LevelSCQF 8
SCQF Points20
ECTS Points10
CreatedJuly 2010
ApprovedMay 2014
AmendedAugust 2013
Version No.1


This Version is No Longer Current
The latest version of this module is available here
Prerequisites for Module

To have passed the relevant first year modules or equivalent.

Corequisite Modules

None.

Precluded Modules

None.

Aims of Module

To enable students to prepare financial statements for both individual entities and groups using appropriate international financial reporting standards and understand how the information contained in them can be used.

Learning Outcomes for Module

On completion of this module, students are expected to be able to:

1. Explain the need for and the process of regulating the financial reporting information of incorporated entities and discuss the need for and key principles of corporate governance regulation.
2. Explain the main elements of and key principles underpinning financial statments prepared in accordance with the international financial reporting standards, produce the primary financial statments of an individual entity and consolidated financial statements of groups incorporating accounting transactions and adjustments, in accordance with relevant international financial reporting standards, in an ethical manner.
3. Describe the sources of short-term finance and cash investments, evaluate the working capital position of an entity, analyse the short-term cash position of an entity.
4. Discuss the types of taxation that typically apply to an incorporated entity and the regulatory environment for taxation, explain the taxation issues that may apply to an incorporated entity that operates internationally and produce computations for corporate income tax and capital tax.

Indicative Module Content

As per CIMA F1 2015 Syllabus.

Indicative Student Workload

Contact Hours

Distance Learning
Assessment
2
Virtual tutorials
15

Directed Study

 
Assessment preparation
40
Directed question practice
30
Directed research and reading
13

Private Study

 
Private study
100

Mode of Delivery

The mode of delivery is Distance Learning - with a focus on the use of interactive online activities such as forums and chat rooms.

Assessment Plan

Learning Outcomes Assessed
Component 1 1,2,3,4

Component one is the CIMA F1 Operational level exam.

Indicative Bibliography

1.Guided and timely sources of literature available from the University library according to the subject matter under consideration.

Additional Notes

Core module material is provided, and includes material from CIMAstudy.com, published by CIMA and Kaplan

 

Robert Gordon University, Garthdee House, Aberdeen, AB10 7QB, Scotland, UK: a Scottish charity, registration No. SC013781