MODULE 1. ACCESS TO ACCOUNTING AUDITING: LEGAL FRAMEWORK. AUDITING TECHNICAL STANDARDS, ETHICAL STANDARDS AND INDEPENDENCE

1. UNIT 1. INTRODUCTION AND LEGAL FRAMEWORK OF AUDITING
2. Basic concepts Types and classes of audits
3. Applicable legal regulations
4. International Standards on Auditing
5. Technical Auditing Standards
6. Regulation of the auditing profession in Spain
8. UNIT DIDACTIC 2. REGULATION OF THE AUDITOR'S PROFESSION
9. Access to the profession
10. Professional actions
11. Appointment, dismissal and renewal of the auditor
12. Auditor's ethics
13. Auditor's responsibility
14. Sanctioning process
16. UNIT 3. EVIDENCE, RELATIVE IMPORTANCE AND AUDIT RISK
17. Concept and types of evidence
18. Audit evidence
19. Audit procedures
20. Working papers
21. Relative importance
22. Audit risk
24. UNIT 4. INTERNAL CONTROL PROCESSES
25. Introduction
26. Internal control procedures
27. Internal accounting control
28. Evaluation
29. Detection of deficiencies
30. Auditor communications with the audited entity
31. Communication of identified deficiencies
33. UNIT 5. AUDIT PROCEDURES AND TESTS
34. Basic concepts
35. Audit sampling procedures
36. Obtaining third party confirmations
37. Sample analysis procedures
38. Letter of representations
40. UNIT 6. PLANNING, CONTRACTING AND STARTING THE AUDIT
41. Audit planning
42. Review of opening balances
43. Annual accounts audit contract or engagement letter

MODULE 2. AUDITING STANDARDS AND PROCEDURES

1. UNIT 1. AUDITING TANGIBLE AND INTANGIBLE FIXED ASSETS
2. Introduction
3. Tangible fixed assets
4. Intangible fixed assets
5. Investment property
7. UNIT 2. AUDITING FINANCIAL INVESTMENTS
8. Introduction
9. Peculiarities of the financing area
10. Audit objectives
11. Internal control considerations
12. Audit procedure
14. UNIT 3. AUDITING STOCK
15. Introduction
16. Peculiarities of stock
17. Audit objectives
18. Internal control considerations
19. Audit procedure
21. UNIT 4. AUDITING TRADE CREDITS
22. Introduction
23. Peculiarities of trade receivables
24. Audit objectives
25. Internal control considerations
26. Audit procedure
28. UNIT 5. AUDITING THE TREASURY
29. Introduction
30. Peculiarities of the treasury area
31. Audit objectives
32. Internal control considerations
33. Audit procedure
35. UNIT 6. AUDITING EXPENSES, TRADE CREDITORS AND OTHER ACCOUNTS PAYABLE
36. Introduction
37. Peculiarities of the trade payables area
38. Audit objectives
39. Internal control considerations
40. Audit procedure
42. UNIT 7. AUDITING OWN FUNDS
43. Introduction
44. Peculiarities of own funds
45. Audit objectives
46. Internal control considerations
47. Audit procedure
49. TEACHING UNIT 8. AUDITING LONG-TERM DEBT
50. Introduction
51. Peculiarities of long-term debt
52. Audit objectives
53. Internal control considerations
54. Audit procedure
56. UNIT 9. TAX AUDITING
57. Introduction
58. Valuation standards
59. Audit objectives
60. Internal control considerations
61. Audit procedure

MODULE 3. ACCOUNTING FOR SPECIAL SITUATIONS AND SECTOR ADAPTATIONS

1. UNIT 1. ACCOUNTING FOR NONPROFIT ORGANIZATIONS
2. Introduction
3. ICAC Resolution approving the Accounting Plan for Non-Profit Organizations
5. UNIT 2. ACCOUNTING OF COOPERATIVES
6. Introduction Theoretical concepts
7. Aspects of incorporation
8. Refund of contributions
9. Reserve funds
10. Distribution of results
12. UNIT 3. BRANCHES
13. Introduction Theoretical concepts
14. Accounting aspects of the main operations
16. UNIT 4. ACCOUNTING AND TAX TREATMENT OF CREDITORS
17. Introduction Accounting and tax regulations
18. Accounting and tax treatment of a bankrupt company
19. Accounting and tax treatment of the creditor's creditors' creditors
21. UNIT 5. UTES, COMUNIDADES DE BIENES Y AGRUPACIONES DE INTERÉS ECONÓMICO
22. Introduction Basic concepts
23. Joint ventures
24. UTEs
25. Comunidades de bienes
26. Agrupaciones de interés económico
28. UNIDAD DIDÁCTICA 6. COMMISSION BUSINESSES
29. Introduction Theoretical concepts
30. Transaction accounting

MODULE 4. ANALYSIS OF FINANCIAL STATEMENTS

1. UNIT 1. INTRODUCTION TO FINANCIAL ANALYSIS
2. Introduction
3. Balance sheet
4. Income statement
5. Statement of changes in equity
6. Statement of cash flows
8. UNIT 2. BALANCE SHEET STRUCTURE AND ANALYSIS
9. Introduction
10. Balance sheet structure
11. Working capital
12. Equity balance
13. Vertical and horizontal percentage analysis
15. TEACHING UNIT 3. STRUCTURE AND ANALYSIS OF THE INCOME STATEMENT
16. Introduction
17. Profit and loss statement
18. Analytical accounting
19. Functional organization of the income statement
20. Calculation of break-even point
21. Calculation of operating leverage
22. Obtaining vertical and horizontal percentages
23. Analysis of the income statement
25. UNIT DIDACTIC 4. ANALYSIS OF THE STATEMENT OF CHANGES IN EQUITY
26. Introduction
27. Income and expenses charged directly to equity
28. PGC and equity
29. Statement of recognized income and expense
30. Statement of total changes in equity
31. Restatement of the annual accounts
32. Analysis of the statement of changes in equity
34. TEACHING UNIT 5. CASH FLOW STATEMENT ANALYSIS.
35. Introduction
36. Structure of the statement of cash flows
37. Cash flows in operating activities
38. Cash flows from investing activities
39. Cash flows from financing activities
40. Effect of changes in exchange rates
41. Analysis of the statement of cash flows

MODULE 5. ANALYTICAL, BUDGETARY AND MANAGEMENT ACCOUNTING

1. UNIT 1. INTRODUCTION TO COST ACCOUNTING
2. Definition of Cost Accounting
3. Objectives
4. Relationship with financial accounting
5. Concept of cost
6. Cost classifications
8. UNIT 2. COST CONCEPT IN THE PRODUCTIVE PROCESS
9. Expense, payment and cost concepts
10. Product and period costs
11. Direct and indirect costs
12. Fixed and variable costs
13. Necessary versus non-necessary costs: activity costs and sub-activities
15. UNIT 3. COST MODELS AND SYSTEMS
16. Introduction
17. Full cost and direct cost
18. Cost models
20. UNIT DIDACTIC 4. FULL COST MODEL
21. Introduction
22. Modalities: literal and industrial
24. FULL COST MODEL
25. Introduction
26. Modalities: literal and industrial
28. UNIT 5. DIRECT COST MODEL
29. Concept and modalities
30. Use of direct cost
31. Comparison with full cost
33. UNIT 6. CENTER COST MODELING
34. Comparison of the product method and the center method
35. Concept and types of center
36. Operation
38. UNIT 7. ACTIVITY COST MODEL
39. Different models
40. Basic concepts
41. Operation
43. ACTIVITY COST MODEL
44. Different models
45. Basic concepts
46. Operation
48. UNIT 8. STANDARD AND ADVANCED COSTS
49. Characteristics of the standard cost model
50. Standard cost: its determination
51. Calculation and analysis of variances in the cost of direct materials
52. Calculation and analysis of variances in the cost of direct labor
53. Calculation and analysis of variances in direct costs
55. UNIT DIDACTIC 9. ACTIVITY COST MODELS
56. Model characteristics
57. Essential elements

MODULE 6. COMPANY VALUATION AND FEASIBILITY PLANS

1. UNIT 1. PRESENTATION OF VALUATION METHODS
2. Introduction
3. Valuation method based on equity and accounting information
4. Valuation method based on earning capacity
5. Composite methods
6. Comparative methods
8. UNIT DIDACTIC 2. PATRIMONIAL METHODS
9. Overview
10. Balance sheet-based methods
11. Income statement-based methods
12. Mixed, goodwill-based or good-will methods
14. TEACHING UNIT 3. METHODS BASED ON THE DISCOUNTING OF CASH FLOWS OR CASF FLOW
15. General aspects
16. General method for the discounting of flows
17. Determination of the cash flow to discount and financial balance of the company
18. Calculation of the value of the company through free cash flow
19. Calculation of firm value as the unlevered value plus the value of tax savings from debt
20. Calculation of equity value from cash flow available for equity
21. Calculation of firm value from equity cash flow
22. Basic stages of a discounted cash flow valuation
24. UNIT TEACHING 4. CHOICE OF METHOD
25. Choice of method to use
26. The company as a sum of values
27. Key factors affecting value
28. Speculative bubbles in the stock market
29. Comments on valuation
31. TEACHING UNIT 5. WACC: DEFINITION AND INTERPRETATIONS
32. WACC
33. Errors due to not remembering the definition of WACC
34. WACC and tax savings due to interest payments or value of tax shields (VTS)
36. TEACHING UNIT 6. ERRORS IN COMPANY VALUATIONS
37. Introduction
38. Purposes when valuing a company
39. Family businesses
40. Errors in discount rate and firm risk
41. Errors in WACC
42. Errors in calculating the present value of tax savings from the use of debt (VTS)
43. Errors in the treatment of country risk
44. Errors in calculating or forecasting expected flows
45. Errors in interpreting valuation
46. Errors in interpreting accounting
47. Organizational errors
49. UNIT DIDACTIC 7.VALUATIONS BY MULTIPLES
50. Multiples
51. Multiples based on company capitalization
52. Multiples based on company value
53. Multiples relative to growth
54. Relative multiples
55. The problem of dispersion of multiples

MODULE 7. AUDIT QUALITY STANDARDS, RISK MANAGEMENT AND INTERNAL CONTROL

1. UNIT 1. THE AUDIT REPORT
2. Introduction
3. Basic elements of the independent auditor's report on annual accounts
4. Events after the annual accounts date
5. Events after the date of issuance of the audit report and before its issuance
6. The management report
7. The auditor's opinion
8. Circumstances with possible effect on the auditor's opinion
9. Publicity of the annual accounts audit report
10. Standardized models of audit reports
12. UNIT DIDACTIC 2. QUALITY CONTROL IN AUDIT WORK.
13. Introduction
14. ISA-ES 220 and IAS 1
15. Audit Quality Leadership Responsibilities
16. Applicable Ethics Requirements
17. Acceptance and continuity of client relationships and audit engagements
18. Assigning engagement teams to engagements
19. Performing the engagement
20. The working papers
22. UNIT TEACHING 3. QUALITY CONTROL OVER AUDITORS AND AUDITING FIRMS
23. Introduction
24. Applicable regulations
25. Human resources
26. Performance of the assignments
27. Quality control review in the assignments
28. Quality control follow-up
30. UNIT DIDACTIC 4. ACCOUNTING AUDIT OVERSIGHT
31. Statutory audit oversight
32. Technical control actions
33. Quality control actions
34. Public reporting
35. Annual transparency report
37. UNIT 5. AUDITOR RELATIONSHIPS WITH OTHER AUDITORS
38. Basic concepts
39. Applicable regulations
40. Change of auditors
41. Joint audits of auditors
42. Paid collaboration with another auditor
44. UNIT 6. AUDITOR RELATIONSHIPS WITH OTHER PROFESSIONALS
45. Introduction
46. Need to use expert work
47. Expert's competence, capability and objectivity
48. Auditor's collaboration agreement with the expert
49. Evaluation of the adequacy of the expert's work
50. Effects of the expert's work on the audit report

MODULE 8. STANDARDS FOR THE FORMULATION OF CONSOLIDATED ANNUAL ACCOUNTS

1. UNIT 1. INTRODUCTION
2. Applicable regulations
3. Subjects of consolidation
4. Obligation to consolidate
5. Determination of the consolidated result
7. UNIT 2. GLOBAL INTEGRATION METHOD
8. Introduction
9. Stages of the global integration process
10. Eliminations
12. TEACHING UNIT 3. PROPORTIONAL INTEGRATION METHOD
13. Joint ventures
14. Application of the proportional integration method
15. General aspects
16. Specific aspects
18. TEACHING UNIT 4. EQUIVALENCE PUTTING PROCEDURE
19. Application
20. Exceptions
21. General aspects
22. Methodology
23. Specific issues
25. TEACHING UNIT 5. CONSOLIDATED ANNUAL ACCOUNTS
26. Documents making up the annual accounts
27. Consolidated balance sheet
28. Consolidated income statement
29. Consolidated statement of changes in equity
30. Consolidated annual report
32. UNIT 6. AUDIT OF CONSOLIDATED FINANCIAL STATEMENTS
33. Applicable regulations
34. Components of a group
35. Auditor's actions prior to acceptance of the engagement
36. Acceptance of the engagement
37. Auditor's knowledge of a component
39. TEACHING UNIT 7. ASSESSING THE RISKS OF THE CONSOLIDATED GROUP AUDIT
40. Risks of material misstatement
41. Risk of fraud
42. Discussion of risks of material misstatement
44. TEACHING UNIT 8. AUDIT PLANNING AND EXECUTION.
45. Work plan
46. Audit plan
47. Procedures
48. Materiality
49. Substantive tests on the consolidated financial statements
50. Evaluation of audit evidence obtained
51. Documentation of work performed
52. Audit report on consolidated financial statements

MODULE 9. INTERNATIONAL FINANCIAL REPORTING STANDARDS

1. UNIT 1. CONCEPTUAL FRAMEWORK OF THE IFRS/IFRS SYSTEM. IFRS
2. Origin of the conceptual framework
3. Current status of the update of the conceptual framework
4. Development of the conceptual framework in force
5. Fundamental purpose
6. Determination of the qualitative characteristics of financial information
7. Establishment of basic hypotheses or assumptions
8. Definition of assets, liabilities, equity, income and expenses
9. Description of recognition criteria and valuation rules
10. The concept of profit or loss in the conceptual framework Comprehensive income
12. UNIDAD DIDÁCTICA 2. PROPERTY, PLANT AND EQUIPMENT
13. Introduction
14. Initial recognition and measurement
15. Subsequent recognition and measurement
16. Treatment of the consideration in the option to apply the fair value approach
17. Exchanges of property, plant and equipment
19. UNIT 3. INTANGIBLE ASSETS
20. Introduction
21. Initial recognition and measurement of an intangible asset
22. Exchanges of intangible assets
23. Measurement subsequent to initial recognition
24. Treatment of consideration in the face of the fair value approach option
25. Intangibles with defined useful lives Amortization method and period
27. UNIT DIDACTIC 4. LEASES
28. Introduction
29. Lessee's initial and subsequent recognition of a finance lease
30. Lessee's accounting treatment of operating leases
31. Lessor's recognition of a finance lease
32. Lessor's recognition of an operating lease
33. Leaseback sale and leaseback transactions
35. TEACHING UNIT 5. ASSET IMPAIRMENT
36. Introduction
37. Recognition and measurement of impairment loss
38. Cash-generating units
39. Acquired goodwill attributable to a cash-generating unit
40. Impairment loss for impairment of a cash-generating unit
41. Reversal of impairment loss
43. TEACHING UNIT 6. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
44. Introduction
45. Contingent assets and liabilities
46. Recognition of provisions, contingent liabilities and contingent assets
47. Valuation of provisions
48. Provisions for corporate restructuring costs
49. Other aspects applicable to provisions
51. UNIDAD DIDÁCTICA 7. FINANCIAL INSTRUMENTS
52. Introduction
53. Primary financial instruments and derivatives
54. Balance sheet presentation of financial assets and liabilities
55. Financial instruments Definition and recognition and measurement criteria in IAS 32 and IAS 39
56. Financial instruments General recognition and measurement criteria in the new standards IFRS 7 and IFRS 9
57. Financial assets and liabilities Initial recognition under IAS 39
58. Financial assets and liabilities Initial and subsequent measurement under IAS 39
59. Impairment of financial assets under IAS 39
60. Derecognition of financial assets and liabilities under IAS 39
61. Hedging transactions and hedge accounting under IAS 39
62. Disclosures about financial instruments under IFRS 7
64. TEACHING UNIT 8. INCOME TAXES
65. Introduction
66. Recognition of liabilities and assets for tax accrued in the current period
67. Recognition of deferred tax liabilities
68. Recognition of deferred tax assets
69. Tax loss carryforwards and tax credits
70. Investments in subsidiaries, associates and joint ventures
71. Valuation of current and deferred tax assets and liabilities
72. Recognition in profit or loss of current tax and deferred tax
73. Presentation and offset

MODULE 10. FINAL MASTER'S PROJECT