Undergraduate Programme and Module Handbook 2021-2022 (archived)

Module ACCT2031: CORPORATE FINANCIAL REPORTING

Department: Accounting

ACCT2031: CORPORATE FINANCIAL REPORTING

Type	Tied	Level	2	Credits	20	Availability	Available in 2021/22	Module Cap	None.	Location	Durham

Tied to	NN43
Tied to	N302
Tied to	N304
Tied to	NN42
Tied to	N204
Tied to	N206
Tied to	N305
Tied to	N306
Tied to	N307

Prerequisites

Introduction to Financial Accounting ACCT1041

Corequisites

None.

Excluded Combination of Modules

None.

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

Subject-specific Knowledge:

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.

Subject-specific Skills:

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.

Key Skills:

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

Activity	Number	Frequency	Duration	Total/Hours
Workshops	20	weekly	2 hours	40	■
Revision Workshops	2	1 per week in Term 3	2 hours	4	■
Preparation and Reading				156
Total				200

Summative Assessment

Component: Examination		Component Weighting: 100%
Element	Length / duration	Element Weighting	Resit Opportunity
One written examination	3 hours	100%	same

Formative Assessment:

An exercise on which students received individual feedback.

■ 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