Accounting II

AY2014/2015 Semester 2

This course introduces students to accounting as a process of measuring and disclosing information that facilitates economic decisions made by external decision makers. Students will learn how the quality of such information could be affected by various factors. Some of the concepts covered in AA101 such as strategy, business processes, agency theory and information risk will be revisited here. The course will explain the need for a conceptual framework followed by discussion of the elements of financial statements. The conceptual issues relating to the recognition and measurement of each element in the financial statements will be examined, followed by discussion of the related accounting standards. By the end of the course, students will be equipped with a strong conceptual and technical knowledge in the recognition and measurement of the elements of the financial statements and will also be able to prepare a set of financial statements, and appreciate how accounting plays a role in measuring and disclosing information that facilitates the control of an organization's processes and improves the economic decisions made by organizational agents and stakeholders.