Master of Business Administration non-thesis
Master	TR-NQF-HE: Level 7	QF-EHEA: Second Cycle	EQF-LLL: Level 7

General course introduction information

Course Code:

TMBA537

Course Name:

Financial Reporting and Auditing

Course Semester:

Fall

Course Credits:

Theoretical	Practical	Credit	ECTS
3	0	3	8

Language of instruction:

TR-EN

Course Requisites:

Does the Course Require Work Experience?:

Type of course:

Department Elective

Course Level:

Master

TR-NQF-HE:7. Master`s Degree

QF-EHEA:Second Cycle

EQF-LLL:7. Master`s Degree

Mode of Delivery:

Face to face

Course Coordinator :

Dr.Öğr.Üyesi ALİNA TARAN

Course Lecturer(s):

Course Assistants:

Course Objective and Content

Course Objectives:

The objective of this course is to improve the students’ knowledge of the varying accounting, financial reporting and auditing practices. Moreover, the objective of this course is to focus on dynamic business environment, business decisions, strategies and performance. To be able to analyze basic financial statements by using different tools and techniques this course will focus on the key aspects of financial reporting and auditing.

Course Content:

• Apply the accounting analysis in context of financial statement analysis, considering the International Accounting Principles;
• Explain Conceptual Framework for Financial Reporting;
• Interpret the financial statements that are prepared in accordance with IFRS;
• Discuss the financial reporting standards, such as: IAS 1 and IAS 21, IAS 8, IAS 16 and IAS 36, IAS 17 and IFRS 16, IAS 2, IAS 18 and IFRS 15, IAS 37 and IAS 10, IAS 7, IAS 33.
• Explain fundamental concepts of auditing.
• Describe the stages of audit.
• Apply appropriate audit procedures following ISA.
• Improve their critical thinking skills needed for audit related activities.
• Apply appropriate audit procedures following ISA.
• Improve their critical thinking skills needed for audit related activities.

Learning Outcomes

The students who have succeeded in this course;

Learning Outcomes

1 - Knowledge
Theoretical - Conceptual
1) This course improve the students’ knowledge of the varying accounting, financial reporting and auditing practices.
2 - Skills
Cognitive - Practical
1) To be able to analyze basic financial statements by using different tools and techniques this course focuses on the key aspects of financial reporting and auditing.
3 - Competences
Communication and Social Competence
Learning Competence
1) This course improve their critical thinking skills needed for audit related activities.
Field Specific Competence
1) This course focuses on dynamic business environment, business decisions, strategies and performance.
Competence to Work Independently and Take Responsibility

Lesson Plan

Week	Subject	Related Preparation
1)	• Course content • Basic concepts of Financial Reporting and Auditing	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
2)	• Introduction to Financial Reporting • The regulatory framework • The IASB conceptual framework	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
3)	• IAS 1 - Presentation of Financial Statements; • IAS 21 – The effects of changes in foreign exchange rates.	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
4)	• Property, plant and equipment, and Impairment of assets • IAS 16 - Property, Plant and Equipment; • IAS 36 - Impairment of Assets.	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapters 5 and 7
5)	• Inventories • IAS 2 – Inventories	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 10
6)	• Revenue from contracts with customers • IAS 18 – Revenue vs. IFRS 15 - Revenue from contracts with customers	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 13
7)	• Provisions and events after the reporting period • IAS 37 - Contingent Liabilities and Assets; • IAS 10 - Events after the reporting period	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 12
8)	• Accounting policies, accounting estimates and errors • IAS 8 - Accounting Policies, Changes in Accounting Estimates and Errors	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson, Chapter 4
9)	• The Audit Market and Ethics for Professional Accountants • Demand and Supply; Audit Regulation; Audit Quality; Ethics for Professional Accountants: IFAC’s code of ethics for accountants	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
10)	• Client Acceptance • Evaluate the Client’s Background; Ability to Meet Ethical and Specific Competence Requirements; Use of Other Professionals in the Audit; Communicating With the Predecessor (Existing) Auditor; Acceptance by the Client – The Engagement Proposal; The Audit Engagement Letter	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
11)	• Understanding the Entity, Risk Assessment and Materiality • Planning, Phase II of the Audit Process Model; Understanding the Entity and its Environment; Based on the Evidence, Assess Risk; Types of Risk, Planning Materiality	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
12)	• Internal Control and Control Risk • Internal Control Defined, The Importance of Internal Control, Components of Internal Control, Control Environment, Risk Assessment, Information Systems, Communication, and Related Business Processes, Control Activities (Control Procedures), Monitoring of Controls, Design of Internal Controls • Control Risk, Audit Planning and Test of Controls • Understanding, Assessing and Testing Internal Controls, Understanding of Internal Controls and Documentation, Assessing Control Risk, Overall Responses to Assessed Risk, Prepare Planning Memorandum and Audit Plan, Tests of Controls	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
13)	• Substantive Testing and Evidence • The Basis of Evidence; Sufficient Appropriate Audit Evidence; Substantive Audit Procedures; Audit Procedures for Obtaining Audit Evidence; Audit Sampling and Other Selective Testing Procedures • Audit of Acquisition and Expenditure Cycle	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
14)	• Review of the semester • Project presentations	.
15)	Final Exam	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson. Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205

Sources

Course Notes / Textbooks:	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205
References:	Melville, A. (2019), International Financial Reporting: A Practical Guide, 7th Edition, Pearson Timothy Louwers and Penelope Bagley and Allen Blay and Jerry Strawser and Jay Thibodeau (2021), Auditing & Assurance Services, 8th Edition, McGraw-Hill ISBN10: 126036920X, ISBN13: 9781260369205

Course-Program Learning Outcome Relationship

Learning Outcomes	1	2	3	4
Program Outcomes
1) To gain basic knowledge about the basic functions in the field of business administration and to apply them in real life
2) To use scientific research methods and technology in decision processes of business
3) Evaluating the effects of political, legal, geographical, economic and technological factors on the competitive structure of the business area with team work and finding the necessary solutions
4) To be aware of current issues in the field of business and to gain sensitivity to problems
5) Transmission of written documents such as reports, printouts, internal correspondence orally in an effective manner
6) Defining and analyzing the problem by forming a team within the framework of professional expertise and conceptual knowledge and using leadership qualities
7) To be able to relate to other areas of business administration, to be aware of global and social ethical norms

Course - Learning Outcome Relationship

No Effect	1 Lowest	2 Low	3 Average	4 High	5 Highest

	Program Outcomes	Level of Contribution
1)	To gain basic knowledge about the basic functions in the field of business administration and to apply them in real life
2)	To use scientific research methods and technology in decision processes of business
3)	Evaluating the effects of political, legal, geographical, economic and technological factors on the competitive structure of the business area with team work and finding the necessary solutions
4)	To be aware of current issues in the field of business and to gain sensitivity to problems
5)	Transmission of written documents such as reports, printouts, internal correspondence orally in an effective manner
6)	Defining and analyzing the problem by forming a team within the framework of professional expertise and conceptual knowledge and using leadership qualities
7)	To be able to relate to other areas of business administration, to be aware of global and social ethical norms

Learning Activity and Teaching Methods

Expression
Individual study and homework
Lesson
Reading
Homework
Problem Solving
Project preparation
Report Writing
Q&A / Discussion

Assessment & Grading Methods and Criteria

Written Exam (Open-ended questions, multiple choice, true-false, matching, fill in the blanks, sequencing)
Homework
Individual Project
Presentation
Reporting

Assessment & Grading

Semester Requirements	Number of Activities	Level of Contribution
Attendance	1	% 20
Presentation	1	% 20
Project	1	% 30
Final	1	% 30
total		% 100
PERCENTAGE OF SEMESTER WORK		% 70
PERCENTAGE OF FINAL WORK		% 30
total		% 100

Workload and ECTS Credit Grading

Activities	Number of Activities	Workload
Course Hours	16	48
Study Hours Out of Class	4	8
Presentations / Seminar	16	48
Project	16	64
Final	16	64
Total Workload		232