Durham University
Programme and Module Handbook

Undergraduate Programme and Module Handbook 2015-2016 (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 2015/16 Module Cap Location Queen's Campus Stockton
Tied to N400

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 taught classes and independent study; investigation of cases and real world organisations will encourage students to develop awareness of cultural differences and apply these to the development of their skills in managing themselves and others in such contexts.
  • Classroom activities and independent study will help students acquire 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
Classes (Note: this module is delivered by an approved external provider. A range of learning and teaching methods will be used as appropriate to the subject-matter and learning outcomes.) 100 hours in total
Independent study, including preparation for summative and formative assessment 100 hours
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:

Online tests

■ 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