Undergraduate Programme and Module Handbook 2019-2020 (archived)
Module ECOS2271: Financial Accounting and Reporting
Department: Business School (Economics and Finance) [Queen's Campus, Stockton]
ECOS2271:
Financial Accounting and Reporting
Type |
Tied |
Level |
2 |
Credits |
20 |
Availability |
Not available in 2019/20 |
Module Cap |
|
Location |
Queen's Campus Stockton
|
Prerequisites
Corequisites
Excluded Combination of Modules
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
- On completion of this module students should:
- 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
- On completion of this module students should:
- 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
- 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.
- Seminar activities and discussions will provide the technical
awareness of topics in a comprehensive form.
- The formative examination will provide feedback to students
regarding their understanding of the main concepts and technical treatments.
- The summative examination will test students’ understanding of the main concepts and technical treatments through problem solving and reflection on learning.
- The summative assignment will take the form of a 2,500-word
analysis of an annual financial report. This will test students’ understanding of the main reporting structures, including the different
theories of disclosures; their critical understanding of the different types of disclosures and their benefits; and the social role of reporting and its ethical perspectives.
- Candidates must achieve a mark of 55% or above in the summative examination component, in addition to passing the overall module.
Teaching Methods and Learning Hours
Activity |
Number |
Frequency |
Duration |
Total/Hours |
|
Lectures |
17 |
Held across a 15 day teaching block |
3 hours |
51 |
|
Revision Lecture |
1 |
Annual |
1 hour |
1 |
|
Seminars |
4 |
Held across a 15 day teaching block |
2 hours |
8 |
■ |
Revision Webinar |
1 |
Annual |
1 hour |
1 |
|
Preparation and Reading |
|
|
|
139 |
|
Total |
|
|
|
200 |
|
Summative Assessment
Component: Assignment |
Component Weighting: 30% |
Element |
Length / duration |
Element Weighting |
Resit Opportunity |
Individual financial report analysis |
2,500 words (maximum) |
100% |
Same |
Component: Examination |
Component Weighting: 70% |
Element |
Length / duration |
Element Weighting |
Resit Opportunity |
Written examination |
3 hours |
100% |
Same |
3 hour 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