Undergraduate Programme and Module Handbook 2014-2015 (archived)
Module ECOS1211: FINANCIAL ACCOUNTING AND REPORTING
Department: Business School (Economics and Finance) [Queen's Campus, Stockton]
ECOS1211: FINANCIAL ACCOUNTING AND REPORTING
| Type | Tied | Level | 1 | Credits | 20 | Availability | Available in 2014/15 | Module Cap | None. | Location | Queen's Campus Stockton |
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| Tied to | N400 |
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Prerequisites
- Accounting
Corequisites
- None
Excluded Combination of Modules
- None
Aims
- To enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS). Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios.
Content
- Accounting and reporting concepts and ethics
- Single company financial statements
- Consolidated financial statements
Learning Outcomes
Subject-specific Knowledge:
- Have an understanding of the contribution and inherent limitations of financial statements
- Have an understanding of single company financial statements
- Have an understanding of consolidated financial statements, the different methods of consolidation and the preparation of group accounts
Subject-specific Skills:
- Be able to apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues
- Be able to prepare and present financial statements from accounting data for single entities, whether organised in corporate or in other forms, in conformity with IFRS and explain the application of IFRS to specified single entity scenarios
- Be able to identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS and explain the application of IFRS to specified group scenarios.
- Learning outcomes apply to non-specialised profit-oriented entities unless otherwise specified.
Key Skills:
- Problem-solving skills.
- Reporting and communication skills
- Critical analysis and judgement skills
Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module
- Learning will be based on knowledge transfer from lectures, seminars and personal study; investigation of cases and real world organisations which will underpin the seminars will encourage students to develop awareness of cultural differences and apply these to development of their skills in managing themselves and others in such contexts.
- Seminar activities and discussions will provide the technical awareness of topics in a comprehensive form.
- The examination will test students’ understanding of the main concepts and technical treatments through problem solving and reflection on learning.
Teaching Methods and Learning Hours
| Activity | Number | Frequency | Duration | Total/Hours | |
|---|---|---|---|---|---|
| Lectures | 10 | 4 Per Week | 2 Hours | 20 | |
| Seminars | 4 | Weekly | 2 Hours | 8 | |
| Case discussions | 1 | Annual | 2 Hours | 2 | |
| Preparation and Reading | 170 | ||||
| Total | 200 |
Summative Assessment
| Component: Examination | Component Weighting: 100% | ||
|---|---|---|---|
| Element | Length / duration | Element Weighting | Resit Opportunity |
| IASB’s IFRS Open book Written examination | 3 hours | 100% | Same |
Formative Assessment:
Mock exam
■ Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University