| CODE | ACC2961 | ||||||||||||
| TITLE | Governmental Accounting 1 | ||||||||||||
| UM LEVEL | 02 - Years 2, 3 in Modular Undergraduate Course | ||||||||||||
| MQF LEVEL | 5 | ||||||||||||
| ECTS CREDITS | 8 | ||||||||||||
| DEPARTMENT | Accountancy | ||||||||||||
| DESCRIPTION | This study-unit addresses the development, purpose and context of the accounting framework. The content explores the nature of public service organisations and their objectives; the objectives of external financial reporting in the public services; and the role and significance of reporting standards in public service accounting. The unit examines the application of current legislation, regulation and professional standards of practice to the public service, and requires the preparation and interpretation of the key external financial statements for public service organisations. Study-unit Aims: The aim of this study-unit is to build upon prior knowledge on governmental financial administration, and introduce students to the accounting regulatory framework, concepts, principles and valuation rules. In the course of the delivery of this study-unit, the main components of a set of financial statements in line with IPSAS/IFRS will be considered, with particular reference to the application in the Public Sector. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Explain the difference between financial and management accounting; - Explain basic accounting concepts, principles and valuation rules; - Describe and apply basic accounting theory. 2. Skills: By the end of the study-unit the student will be able to: - Identify and explain the components of a set of financial statements; - Identify the framework of the procurement process; - Identify the external financial reporting framework for the public service, in line with the regulations and legislation affecting the Finance Function of the Public service; - Analyse real life scenarios in the context of the relevant rules and legislation. Main Text/s and any supplementary readings: - The Constitution of Malta. - Public Administration Act, 2009. - The Public Management Code. - The Public Finance Management Act 2019. - The General Financial Regulations, 2017. - The Fiscal Responsibility Act 2014. - Alan Melville, International Financial Reporting, A Practical Guide, (latest edition), FT Prentice Hall. - International Public Sector Accounting Standards (available from www.ifac.org) - Atrill & McLaney, Management Accounting for Decision Makers, (latest edition), FT Prentice Hall. - Lysons & Farrington, Procurement and Supply Chain Management, (Tenth Edition), Pearson Education Ltd. - Public Procurement Regulations, SL 601.03, LN 352 of 2016. |
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| STUDY-UNIT TYPE | Lecture | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Anthony Cachia Josette Caruana Ninette Gatt Paulanne Mamo |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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