This module is an advanced study of Financial Reporting concerning the context of Financial Reporting and Financial Information, and with the application of IFRS to business transactions.
The module builds and develops students’ knowledge of accounting fundamentals and their ability to apply and critically evaluate Generally Accepted Accounting Principles and Practice.
The aim of the module is to ensure that students can prepare financial statements for groups of companies, and for individual entities, for publication complying with Generally Accepted Accounting Practice, and apply knowledge to evaluate and analyse the performance and financial position of an entity based on information obtained from the annual report.
Financial Reporting Environment
• Regulatory Framework of AccountingIFRS & National GAAPAnnual ReportsCorporate Social Responsibility ReportingEthical Issues in AccountingCurrent Issues in Financial Reporting
Financial Reporting Standards
Presentation of Financial StatementsInventoryStatement of Cash FlowsAccounting Policies, Changes in Accounting Estimates and ErrorsEvents after the Reporting PeriodTaxation in financial accountsProperty, Plant and EquipmentEmployee BenefitsGovernment GrantsBorrowing CostsRelated Party DisclosuresFinancial InstrumentsImpairment of AssetsProvisions, Contingent Liabilities and Contingent AssetsIntangible Assets Investment PropertyShare Based PaymentsDiscontinued Operations Operating SegmentsRevenueLeases
Consolidated Financial Statements
Acquisitions and Disposals Fair Value and Acquisition AdjustmentsAssociates and Joint VenturesAccounting for the effects of changes in Foreign Exchange ratesEarnings per Share
Analysis and Interpretation of Financial Statements
n/a
Formal lectures to gain an informed understanding of the underlying theory and regulatory requirements Case study and worked examples to ensure a high level of professional skill in the practical application of the theory Class and group discussions to develop skills in critical evaluation
| Module Content & Assessment | |
|---|---|
| Assessment Breakdown | % |
| Formal Examination | 70 |
| Other Assessment(s) | 30 |