Module ACCT2031: CORPORATE FINANCIAL REPORTING

Department: Accounting

ACCT2031: CORPORATE FINANCIAL REPORTING

Tied To

• N204: Accounting and Management with Placement Year
• N206: Accounting and Management with Study Abroad
• N302: Accounting and Finance with Placement Year
• N304: Accounting and Finance with Study Abroad
• N305: Finance
• N306: Finance with Placement Year
• N307: Finance with Study Abroad
• NN42: Accounting and Management
• NN43: Accounting and Finance

Pre-requisites

Corequisites

Excluded Combinations

Aims

• To develop the 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 regulatory framework.
• Objectives of financial reporting and conceptual framework.
• Preparation of primary statements for a single company to reflect complex accounting adjustments and required disclosures.
• Accounting for tangible and intangible assets.
• Accounting for provisions including deferred taxation.
• Revenue and Liability Recognition including Lease Accounting.
• Accounting for Financial Instruments.
• Earnings Per Share (EPS).
• Accounting for Business Combinations (Group Accounting).
• Interpretation of trends and ratios to address users and stakeholders needs.
• Limitations of financial statements.
• Limitations of interpretation technqiues.

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.
• Use of the online learning environment to efficiently access and manipulate relevant information.
• Presenting information effectively, using appropriate tools.

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

• Learning will take place through preparation for, and attendance at, workshops as well as through independent study. The workshops will cover the technical material underpinning the course, and enable students to develop the skills of accounts preparation and interpretation.
• The formative assessment takes the form of an exercise on which students receive individual feedback.
• Summative assessment is in the form of an examination which addresses the students' understanding of the key concepts introduced in the module.

Teaching Methods and Learning Hours

Summative Assessment

Formative Assessment

An exercise on which students received individual feedback.