ITAC1 International Accounting and Corporate Reporting
The course is designed to provide students a thorough understanding of international accounting and corporate reporting and its application in working environments. This includes an understanding of the international accounting standard board/Financial Accounting Standard Board, International accounting standards, cross sectional analysis, corporate reporting for a listed company in Hong Kong, consolidated financial statements and accounting principles.

Topics covered:
1. Accounting principles, concepts and theory
1.1 The Framework of the Preparation and Presentation of Financial Statements
1.2 Normative accounting theory and positive accounting theory
1.3 Outline of current Hong Kong accounting standards

2. Analysis of inter-corporate investments
2.1 Distinguish between the cost, equity and consolidated method of reporting for investment
2.2 Understand the issues important to the analysis of marketable securities
2.3 Understand consolidated income statements, balance sheet and cash flow
statements

3. International Financial Reporting Standard
3.1 Framework of the International Financial Report Standard (the ˇ§IFRSˇ¨)
3.2 Recent developments of the IFRS
3.3 Selected IFRSs
3.4 Comparison of HK accounting standard and IFRS

4. Financial Statement Analysis
4.1 Ratio analyses and its limitation
4.2 Time series analysis
4.3 Management Discretion and Earning Management
4.4 Cases studies on Earning Management
4.5 Introduction: Capital Market Foundation Analysis

5. Corporate reporting for listed enterprises in Hong Kong
5.1 Requirement of annual financial statements
5.2 Preliminary Announcements of interim report and annual results.
5.3 Disclosure requirements for Main Board Listed Companies
5.4 Disclosure requirements for GEM listed companies
5.5 Case studies on listed companies

6. Workshop as vendors showcase
How to evaluate the accounting software from low-end to high-end.


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