Module Overview

The Conceptual and Regulatory Frameworks of Accounting

• The conceptual framework of accounting
• The users of financial statements and their uses of the information.
• The characteristics of useful financial information.
• The effects of the regulatory framework on the interpretation of financial statements.

Financial Statements

• The terminology used in published financial statements.
• The major features of key narrative elements included in the annual report and the significance of the information contained within them.

Financial Analysis

• Preparation of relevant financial ratios to assess the financial performance and position of an organisation.

 Statement of Cash Flows

• Analysis of the information contained in a Statement of Cash Flows.
• Cash flow versus profit.

Financial Reporting Standards

• The key requirements of a selection of core financial reporting standards.             

Groups of companies

• The basic principles of the preparation of group accounts.
• The differences between group accounts and the financial statements of a single company.
• Simplified group accounts from the financial statements of a parent company and subsidiary.

Audit

• The role of the external auditor.
• The status and content of the report of the external auditor to the members.
• The role and function of the internal audit department, versus the role of the external auditor.

Corporate Social Responsibility (CSR) Reporting

• The status and content of CSR reports.

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