| CODE | ACC3541 | ||||||||||||
| TITLE | Governmental Accounting 2 | ||||||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||||||
| MQF LEVEL | 6 | ||||||||||||
| ECTS CREDITS | 8 | ||||||||||||
| DEPARTMENT | Accountancy | ||||||||||||
| DESCRIPTION | This study-unit examines IFRS/IPSAS dealing with presentation and valuation of assets. It includes the calculation and interpretation of accounting ratios covering profitability, solvency, performance, and capital gearing ratios, for a variety of stakeholders. The study-unit explains the uses and limitations of financial ratios, and the supplementary information which could enhance the user’s understanding of financial statements and ratios derived from them. The implications for the public service body of publicly available information and appropriate sources of funding are examined as well. The study-unit also examines the key requirements of an optimal performance measurement system and the different perspectives of performance measurement. The content of this study-unit will also provide an overview of project appraisals, investment strategy, treasury management and working capital policy. It also covers the meaning and importance of budgetary control and identification of the elements making up an effective control system. The study-unit also refers to the process of public sector corporate governance, and the systems, structures, networks, policies and procedures by which it is achieved, both in the student’s own organisation and internationally. Study-unit Aims: The unit will focus on presentation and valuation rules in financial statements according to IPSAS/IFRS. It also aims to: introduce financial management tools and performance measurement; provide an understanding of the annual government budget. This study-unit will also provide students with an appreciation of corporate governance with particular reference to its importance in the Public Sector. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Describe accounting ratios and their relevance for stakeholders; - Explain performance measurement techniques; - Explain the processes involved in project and contract management whilst applying appropriate techniques to assist in those processes; - Explain the use of and interpret given results for investment appraisal techniques which take account of non-financial factors; - Describe issues in treasury management and working capital policy; - Explain the concepts of budgetary control. 2. Skills: By the end of the study-unit the student will be able to: - Interpret and apply IPSAS/IFRS relating to presentation of financial statements and valuation of assets; - Prepare accounting ratios and provide basic interpretation of those ratios for relevant stakeholders of public service organisations; - Apply performance measurement techniques; - Evaluate regulatory mechanisms for measuring performance in public service organizations; - Apply the principles of good governance and ethical behaviour within the public and not-for-profit sectors, including the notions of accountability, transparency, integrity and the public good. Main Text/s and any supplementary readings: Main: Alan Melville, International Financial Reporting, A Practical Guide, (latest edition), FT Prentice Hall Supplementary: International Public Sector Accounting Standards (available from www.ifac.org) Robert E. Litan (et al) (2002). Financial Sector Governance: The Roles of the Public and Private Sector. Brookings Institution Press. Atrill and McLaney. (2008), Management Accounting for Decision Makers (6th Edition), Prentice Hall (subject to update) Kathleen M. Immordino (2010). Organisational Assessment and Improvement in the Public Sector. CRC Press. Pike Richard and Neale Bill, (2009), “Corporate finance and investment : decisions & strategies”. 6th Edition. Knott Geoffrey, "Financial Management". 4th Edition. Kim A. Kenneth. et al. (2010). Corporate Governance. Pearson. |
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| RULES/CONDITIONS | Before TAKING THIS UNIT YOU MUST TAKE ACC2961 | ||||||||||||
| ADDITIONAL NOTES | Pre-Requisite Study-unit: ACC2961 | ||||||||||||
| STUDY-UNIT TYPE | Lecture | ||||||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Peter J. Baldacchino Lauren Ellul 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 2023/4. It may be subject to change in subsequent years. |
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