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AFM010 Financial Accounting Frameworks
Questions :
1. This topic includes:
2. the business cycle
3. profit versus cash
4. the three core financial statements: the Cash Flow Statement, Income Statement and the Statement of Financial Position
5. the accounting equation
6. financial frameworks.
Lesson 1 Financial accounting: an overview and first thoughts
• 1.2 Introduction to Topic 1Page
• 1.3 Activity: The icebreaker – getting to know your FAF colleagues
• 1.4 Activity: Self-diagnostic quiz – what’s your base accounting knowledge
• 1.5 Reading: What is accounting? A backdrop
• 1.6 Lecture 1: Setting the scene: some considerations for organisations
Lesson 2: The business cycle
• 1.7 Lecture 2: The business cycle
• 1.8 Lecture 3: The flow of finance from another angle
Lesson 3: Cash versus profit measurements
• 1.9 Lecture 4: Cash versus profit measurements – some illustrations
• 1.10 Reading: An overview of the major financial statements
• 1.11 Check your understanding: Cash versus profit
Lesson 4: Introduction to cash and profit statements
• 1.12 Lecture 5: An overview of the Cash Flow Statement
• 1.13 Check your understanding: Cash Flow Statement construction
• 1.14 Lecture 6: Walkthrough of Cash Flow Statement construction
• 1.15 Lecture 7: An overview of the Income Statement
• 1.16 Check your understanding: Income Statement construction
• 1.17 Lecture 8: Walkthrough of Income Statement construction
• 1.18 Reading: The Income Statement
Lesson 5: Introduction to the Statement of Financial Position (SoFP)
• 1.19 Lecture 9: An overview of the Statement of Financial Position (SoFP)
• 1.20 Check your understanding: Statement of Financial Position construction
• 1.21 Lecture 10: Walkthrough of Statement of Financial Position construction
• 1.22 Reading: The Statement of Financial Position
Topic 2: Financial frameworks I
• This topic includes:
• accounting equation reinforcement
• the main accounting conventions: going concern, consistency, the Matching Principle, realisation, prudence, accruals (and prepayments), money measurement, materiality
• revenue transactions or operational items and capital items.
Lesson 1: Accounting conventions
• 2.2 Lecture 1: Overview of the core accounting conventions
• 2.3 Reading: The role of accounting conventions
Lesson 2: The accounting equation in action
• 2.6 Lecture 2: The accounting equation
• 2.7 Check your understanding: Textbook end-of-chapter exercise – Joe CondayAssignment
• 2.8 Lecture 3: Walkthrough solution – Joe Conday
Lesson 3: Time for a more systematic approach – first ideas
• 2.9 Lecture 4: Thinking about a more systematic approach
• 2.10 Lecture 5: Day one for FAF Ltd
• 2.11 Model answer: Day one for FAF Ltd
• Restricted Not available unless: The activity 2.10 Lecture 5: Day one for FAF Ltd is marked complete
• 2.12 Lecture 6: Day two to day 30 for FAF Ltd
• 2.13 Model answer: Day two to day 30 for FAF Ltd
• Restricted Not available unless: The activity 2.12 Lecture 6: Day two to day 30 for FAF Ltd is marked complete
• 2.14 Lecture 7: Using a duality-inspired worksheet for FAF Ltd
• 2.15 Model answer: Using a duality-inspired worksheet for FAF Ltd
• 2.16 Reading: Luca Pacioli’s double entry and the birth of financial management
Lesson 4: A systematic approach in practice
• This lesson is all about practice and consolidation. You will work your way through five self-assessment activities (SAAs), three of which will require you to construct the financial statements for three consecutive financial periods for an organisation and two SAAs based upon the textbook’s end-of-chapter exercises.
Lesson 5: Reflecting on practice
• 2.26 Discussion: Your thoughts on financial statements
• 2.27 Discussion: The manager’s perspective on financial statements
AFM010 Financial Accounting Frameworks
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