ACC1002 FINANCIAL ACCOUNTING (for Acc/Biz)

Accounting is the language of business, facilitating communication of the financial aspects of business. This module provides an introduction to the financial accounting branch of accounting. The activities and events of a business entity are summarized by the financial accounting process into published financial statements to be used by external users such as investors and creditors. Such users would need to understand both the financial accounting process and outputs in order to make investing and lending decisions. Therefore, students will learn how to prepare simple financial statements and also learn how to read, understand and use published financial statements for decision making.  This module is targeted at business students and will be taught from the preparer perspective, as it also trains students to become accountants.

ACC1002X FINANCIAL ACCOUNTING (for Others)

This course is an introduction to concepts and current issues on financial accounting, designed to create awareness of principles, preparation and application of financial information in business world. The primary focus will be that of the users, rather than the preparer, however. All students who will be future users of accounting information will benefit from this course.

You will learn how to read, understand and use published financial statements for decision-making. To accomplish this goal, we will develop the fundamentals of each topic, understand the implications of those fundamentals through examples and integrate the topic into the framework of the accounting process and financial statements. An understanding of what can be inferred from the financial statements about the past performance, present position, and future prospects of the firm will be developed.

ACC1006 ACCOUNTING INFORMATION SYSTEMS

This course provides students reading BBA (Accounting) the foundation for learning modules related to assurance and attestation and risk management.

Students will understand importance of information flow, internal controls and information systems applied in business transaction cycles.  This includes the capturing and accounting of business transactions.  The module also examines the innovative and emerging applications that streamline business operations and enhance competitive advantage of businesses.

ACC2002 MANAGERIAL ACCOUNTING

The emphasis of the course is on the use of accounting information internally by managers in managing an organisation. Students will gain an understanding of the information needed by managers in planning, control and decision-making. The course will cover topics such as cost concepts and cost behaviour, costing systems, flexible budgets and variance analysis, management controls and responsibility accounting and relevant costs in decision-making.

ACC3601 CORPORATE ACCOUNTING AND REPORTING

The module primarily takes a preparer perspective. The skill level aimed for is intermediate between the basic bookkeeping skills acquired in ACC1002 and the professional expertise required for the SQP professional level. The accounting in this module is for a single unconsolidated entity rather than a group, though some group accounting concepts may be introduced from a user perspective only.

ACC3602 MANAGERIAL PLANNING AND CONTROL

This course builds on ACC2002 Managerial Accounting.  The focus will be on the measurement and evaluations of the performance of organisational entities and their managers.  Management accounting at this level of analysis is an integral part of companies’ management control systems.  Performance measurement and control is an essential function of management to ensure that the organisation’s objectives and strategies are carried out effectively.

The course focuses on elements and methods of financial results control systems, that is, those that involve measurement and evaluation of financial and non-financial performance.  The course discusses key decisions that must be made, such as choice of performance measures, and performance standards and targets.  The course also examines in depth how the pricing of goods and services that are transferred from one organisational entity to another often causes problems in the measurement of an entity’s financial performance.  The course also discusses problems that measuring and evaluating performance in accounting terms creates, including limitations of traditional performance measures, and discusses the approaches and methods to mitigate these problems and shortcomings.  Some of the more advanced cost and management accounting concepts will be covered as well.

ACC3603 ASSURANCE AND ATTESTATION

This module provides the knowledge and understanding of the audit process required by assurance and attestation engagements.  It aims to ensure students acquire the necessary attitude, skills, and knowledge for a career in auditing, in the accounting profession or in business management.

ACC3604 CORPORATE AND SECURITIES LAW

The primary aim of this course is to develop a good understanding of the legal framework for the operation of companies which is essential for an accountant.  It covers the entire life-span of a company from its formation to liquidation.  It also includes the various legal obligations and implications in operating the company. A secondary objective is to introduce pertinent provisions of securities legislation.

ACC3605 TAXATION

The aim of this module is to introduce students to the important concepts and issues relating to taxation of income for businesses and individuals in Singapore.  Key topics to be covered include explanation as to: who is a taxable entity, how income is to be measured, what income falls within the provisions of the Income Tax Act of Singapore, what are the allowable tax deductions and capital allowances are, what the reliefs available to the individuals and companies are and how they can be used, the major provisions of GST in Singapore, and taxation of foreign income.

ACC3606 ADVANCED CORPORATE ACCOUNTING AND REPORTING

This module is the final module in the financial accounting stream of modules (ACC1002,

ACC3601 and ACC3606) under the BBA (Accountancy) programme. In this module, you will tackle the most complex issues in financial accounting, such as group accounting, foreign currency-based transactions and group accounting, financial instruments, share-based compensation, etc. In the process, you will gain a deeper understanding of the financial reporting of a firm’s profitability and risk. The module will be taught from the viewpoint of the preparer, and is meant for students who expect to become chartered accountants (whether working in the public accounting firms or in corporations).

ACC3611 CORPORATE GOVERNANCE AND ETHICS

There are many definitions of corporate governance. One definition states that corporate governance involves “a set of relationships between a company’s management, its board, its shareholders and other stakeholders [and that which] provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined” (OECD Principles of Corporate Governance, 2004). This module covers corporate governance from a multi-disciplinary perspective, including law, finance, accounting and economics; discusses ethical dilemmas and challenges faced by managers and employees; and examines the tools that organisations use to institutionalise a strong ethical culture and the effectiveness of these tools.

ACC3612 RISK MANAGEMENT AND INTERNAL CONTROL

This intermediate course in accounting provides students with the ability and competency to exercise judgment in evaluating control techniques encountered by accounting professionals in the area of enterprise risk management. This course should provide students with skills & tools to evaluate risk management practices of an organisation, including the reporting of risk & risk management activities in financial reports, and the role that internal controls, control processes and control environment factors (such as integrity, ethical values, management philosophy) play in the management of these risks. Although the main perspective adopted here is that of the Chief Risk Officer and internal auditors working in a large organisation, the viewpoints of other stakeholders, such as external auditors, regulators, the public, the interest groups and investors and consumers will also be considered. At the end of the module, students would have acquired the capacity to understand and apply the Enterprise Risk Management – Integrated Framework issued by the Committee of Sponsoring Organisations of the Treadway Commission (COSO).

ACC3613 ADVANCED ASSURANCE AND ATTESTATION

This advanced module on assurance and attestation aims to provide students with a more in-depth understanding of certain advanced auditing topics and specialized audits. These audits are often more complex and additional issues need to be considered. Students will gain an appreciation of the depth and breadth of the scope of work of an auditor. Additionally, it is also important for students to understand the importance of audit quality and the psychological biases that may be present when they are making professional judgments in the course of their audit work and learn how to overcome them.

This module builds on the knowledge, skills and attitudes acquired in ACC3603 Assurance and Attestation. This module also integrates knowledge gained in other courses including ACC1002 Financial Accounting, BSP1004 Legal Environment of Business, ACC3601 Corporate Accounting and Reporting, ACC3611 Corporate Governance and Ethics and ACC3612 Risk Management and Internal Control. At the end of this module, students would have a better understanding of the techniques and issues involved in statutory audit and other specialized audit areas.

ACC3614 VALUATION

This module seeks to train students to apply standard techniques to measure asset fair values where required by Singapore Financial Reporting Standards and IFRS. It also aims to equip students with the key concepts and understanding in valuation of major asset classes: Bonds, Fixed Income, Financial Derivatives, Real Estate, Equities, Intangibles and M&A.

ACC3615 ACCOUNTING THEORY

This module aims to equip students with an understanding of the theory and methodology underlying the economics-based empirical literature in accounting. It will teach students to evaluate research findings on accounting issues, and critically discuss issues in accounting standard-setting and practice.

ACC4611 ADVANCED TAXATION

This course aims to build on the foundation in ACC3605 and provide students with basic grounding in tax planning and appreciation of tax issues commonly encountered by businesses and individuals from both the local and international tax perspectives.  It will teach students to understand and apply the basic principles of tax planning for business entities in both a local (Singapore) and an international context, and the basic principles of tax planning for an individual employee (Singapore resident) working in both local and cross-border assignments.

ACC4612A SEMINARS IN ACCOUNTING: INTERNAL AUDIT

This elective module provides students with the knowledge, both theory and practice, of how internal audits in organisations are done.

Students will gain an appreciation of how an internal auditor helps the Board of Directors, Audit Committee and Management of an organisation by adding value and improving on the organisation’s results and operations. They will learn that an internal auditor does this by reviewing and recommending processes for better governance and accountability. This includes giving assurance that policies and procedures are in place to ensure the organisation’s objectives are achieved, risks are managed, controls are complied with, and resources are used efficiently and economically.

This module builds on the knowledge, skills and attitudes acquired in ACC3613 Advanced Assurance and Attestation (a pre- requisite) and will help the students to consolidate and apply their knowledge on risk and governance in an organisation. At the end of the module, students are expected to be able to be equipped with the knowledge to set up up and run an internal audit unit in an organisation.

ACC4612D ADVANCED ACCOUNTING THEORY

This module is designed to prepare accounting honours students with the necessary empirical methodologies, knowledge and skills to complete their honours theses. It is also suitable for students with an interest in gaining an understanding of important accounting issues such as earnings management, analyst and management earnings forecasts, voluntary disclosure, and accounting-based valuation. This is a relatively challenging course but it will help the students to have the necessary background training and preparation for their honours thesis.

ACC4612C FORENSIC ACCOUNTING

This module aims to give students broad and fundamental knowledge of forensic accounting, exposure to various modus operandi of cases forensic accountants deal with, the ability to comprehend the nature of case requirements and to develop a detailed project plan, the skills to make meaningful contribution to a forensic accounting project, and to report and present forensic accounting work to achieve project objectives, knowledge of the admissibility of evidence for the court of law, and a competitive advantage among new graduates in pursuing a forensic accountant position.

ACC4612E RISK MANAGEMENT TECHNOLOGY

This module extends the basic concepts of enterprise risk management by focusing on the use of technology to facilitate the identification of key risk indicators and near misses. Through the use of widely available social media analytics tools and case studies, the module will have a special emphasis on identifying key risk indicators and near misses on social media platforms such as Facebook, Twitter and blogs. The analysis of sentiments on these platforms will be used to illustrate the link of these sentiments to the identification and prediction of key risk indicators and near misses.