Undergraduate Programme and Module Handbook 2022-2023 (archived)
Module ACCT2031: CORPORATE FINANCIAL REPORTING
Department: Accounting
ACCT2031: CORPORATE FINANCIAL REPORTING
| Type | Tied | Level | 2 | Credits | 20 | Availability | Available in 2022/23 | 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