HAILEY COLLEGE OF BANKING &FINANCE

University of the Punjab, Lahore

COURSE OUTLINE
Program MBA (2 Years) Course Mr. Ammar Ud Din (Assistant Prof.)
Instructor M.Com; MPhil(Accounting & Finance)
Courtesy : Professor Iftikhar SAHAB
Year / Semester 2nd Semester(2019-2021) Email Ammar_4one@yahoo.com
Code
Title Corporate Financial Reporting
Rating 03 Credit Hours
Type Core Course
Pre-requisites Financial Accounting/Accounting 1
Introduction Financial Reports form the backbone for financial planning, analysis,
benchmarking and decision making. Corporate Financial Reporting &
Analysis combines comprehensive coverage and a rigorous approach to modern
financial reporting with a readable and accessible style. Financial Reporting
involves preparation of Financial statements according to applicable local &
international standards and making disclosure of financial information to the
various stakeholders about the financial performance and financial position of the
organization over a specified period of time.

Objectives a. To develop understanding with Financial Reporting Requirements

b. To learn Application of Standards
c. Developing an understanding towards preparation and presentation of
Financial Statements
d. Understanding the Disclosure Requirements
e. Understanding Provisions of Companies Ordinance

Outcome 1. Understanding the basics of the application of accounting standards

2. Ability to prepare supporting schedules
3. Ability to prepare and understand financial information
4. Ability to comprehend financial reporting procedures
5. Ability to prepare additional reporting requirements like sustainability
reporting

Recommended 1. Principles of Financial Accounting 17th Edition

Books / By: Larson Wild and Chiappetta
References 2. Introduction to Financial Accounting, 9th Edition
By: Charles T. Horngren, Sundem, Elliott and Philbrick

Websites  https://www.iasplus.com/en/standards/ias/ias2
 https://www.ifrs.org/issued-standards/list-of-standards/
 https://www.pwc.com/gx/en/audit-services/ifrs/publications/ifrs-19/pwc-
ifrs--overview-2019.pdf

Syllabus (Weekly Scheme)

 Topic Chapter/
Week
Additional
Material
1st Recapitulation of Financial Accounting Concepts:  Handouts
 Purpose of Financial Statements
 Two Underlying Assumptions of Financial Statements
 Qualitative Assumptions of Financial Statements
 Recognition versus Measurement
 Recognition versus Disclosure
Financial Reporting framework:
 GAAPS vs IAS
 IAS vs IFRS
 Provisions of Companies Ordinance
2nd IAS 1: Presentation of Financial Statements  Annual
 Overview, Objectives and Definitions Report FFC
 Fair Presentation, Going Concern, Accrual Basis  Relevant
 Materiality and Aggregation Examples
 Offsetting, frequency of reporting and comparative Information
 Consistency
 Concept of Comprehensive Income
 5 Elements of Financial Statements governed by IFRS
Practical Demonstration from Annual Report FFC
3 rd
IAS 2: Inventories  Handouts
 Overview, Scope and Objective  Case Study
&  Classification of Inventories  Annual
 Concept of Cost, Net Realizable Value Reports review
4th  Inventory Costing Methods FFC, PPL, Bata,
 Measurement of Inventories Nestle Pak
 Disclosure Requirements w.r.t IAS-2
 Quiz # 1
5th IAS 7: Statement of Cash Flows  Selected
 Overview, Scope and Objective Questions
&  Concept of Cash and Cash Equivalents
 Classification of Cash Flows
6th  Methods: Direct vs Indirect Method Assignment 1
 Preparation of Cash Flow Statement using Indirect Method
7th IAS 16: Plant, Property and Equipment  Handout
 Definitions  Reconciliation
&  Recognition of Plant, Property and Equipment Schedule of
 Initial Measurement: Components of cost of an asset Fixed Assets
8th  Subsequent Expenditure – Benchmark Treatment from Annual
 Revaluations
Report
 Depreciation Methods
 Review of Useful Life
Assignment 2
 Disposal of Asset
 Disclosure Requirements
MID TERM EXAM
9th IAS 18: Revenue  Handouts
 Definition
  Revenue Measurement
 Revenue Recognition
 Sales of Goods
 Services Revenue
 Interest, royalties and dividends
 Disclosure Requirements
10th IAS 33: Earnings Per Share  Handouts
 Definitions and Scope
 Equity Share vs Potential Equity Shares
 Weighted Average No. of Shares
 Dilution vs Antidilution
 Basic vs Diluted EPS  Quiz # 2
 Retrospective Adjustments
11th IAS 16: Leases  Handouts
 Definition and scope
 Types of leases
 Lease components vs Lease term
 Measurement
 Lease accounting
 Disclosure Requirements
12th Preparing Financial Statements of Corporations Comprehensive
 Preparation and Presentation of Financial Statements Assignment 3
 Relevant Provisions of Companies Ordinance 1984 Preparing Financial
 Income Statement Statements along
 Balance Sheet with Notes and
 Statement of changes in owner’s equity Disclosure
 Retained Earnings
 Dividends
 Provisions and Allowances
 Preparing Income Statement & Balance Sheet of Corporations.
13th Financial statement of Banking institutions-SBP  Handout
Suggested format
 Financial Reporting of Banking Institutions
 Financial Statements Review of Commercial Banks (HBL,
MCB, Meezan Bank)
14th Additional Reporting Requirements Review from
 Statement of Compliance with the best practices of Corporate Annual Report of
Governance MNCs in Pakistan
 Sustainability Reporting (Safety, Health and Environment)
 Corporate Social Responsibility
 Chairman’s Review
15th
& Group Presentations on Selected Topics
16th

Final Term Exam