Module BUSS2071: CORPORATE FINANCIAL REPORTING

Department: Business School (Business) [Queen's Campus, Stockton]

BUSS2071: CORPORATE FINANCIAL REPORTING

Prerequisites

• ECOS1081, Introduction to Financial Accounting.

Corequisites

• None.

Excluded Combination of Modules

• None.

Aims

• To develop the technical skills introduced at level one. The module addresses the preparation of financial statements for a single company and a company group, including the application of relevant International Financial Reporting Standards.

Content

• The IFRS framework.
• Preparation of the Comprehensive Income Statement and Statement of Financial Performance (Balance Sheet) for a single company to reflect complex accounting adjustments.
• Accounting for tangible assets (current and non current).
• Accounting for provisions including deferred taxation.
• Revenue and Liability Recognition.
• Accounting for changes in equity (including understanding statements of changes in equity).
• Supplementary disclosure including segmental reporting and related party transactions.
• Earnings Per Share (EPS).
• Accounting for business combinations.
• Interpretation of published financial reports.
• Professional ethics and the reporting accountant.

Learning Outcomes

• Understand the underpinning concepts which govern the preparation of financial statements.
• Understand the importance of professional ethics, regulation, and coherent conceptual frameworks to the preparation of high quality corporate reports.

• Be able to prepare complex accounting adjustments in line with accounting standards.
• Be able to explain accounting adjustments to non-accountants.
• Be able to prepare a basic set of accounts for a group.

• Written Communication - through the examination and summative assignment.
• Numeracy - through the examination and summative assignment.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

• Lecture delivery will cover the technical material underpinning the course as preparation for seminars which will enable students to develop the skills of accounts preparation and interpretation.
• The formative assessment seeks to ensure that the development of the higher interpretative skills required in the assignment and examination are actioned by students before Christmas and can be supported through feedback. This reflects the teaching order whereby the workshops supporting the interpretation of financial reports are timetabled in term one and the formative assessment leads directly on from this class contact.
• The summative assignment is in the form of a 1500 word report, which seeks to assess the learning outcomes related to the practical application of the skills to CURRENT and/or HISTORICAL corporate data of a listed company and to develop basic research and analytical skills understanding the differences between cash and accruals.
• The examination addresses the students understanding of the key concepts introduced in the module.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment:

End of term in class exercise on discursive topics in corporate financial reporting which will be submitted.

■ 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