This module is not currently running in 2024 to 2025.
This module will develop advanced knowledge and skills in understanding and applying accounting standards and the conceptual framework underpinning financial statement preparation.
Topics may include:
• Conceptual and regulatory frameworks and the qualitative characteristics of useful accounting information
• The concepts and principles of groups and consolidated financial statements
• Non-current assets
• Current assets
• Impairment of assets
• Financial instruments
• Leasing
• Provisions and events after the reporting period
• Taxation
• Reporting financial performance
• Revenue recognition and measurement
• Not-for-profit and public sector accounting
• Computation and interpretation of accounting ratios
• Preparation of single entry financial statements
• Preparation of consolidated financial statements
Total contact hours: 24
Private study hours: 126
Total study hours: 150
Main assessment methods:
Individual Report, 2000 words (20%)
Group presentation (10%)
Examination, 3 hours (70%)
Reassessment methods:
Exam (100%)
ACCA (2019). Financial Reporting (FR)-Study Text: Kaplan Publishing UK.
Elliott B. and Elliott J. (2019). Financial Accounting and Reporting. Pearson Education Ltd
Melville A. International Financial Reporting: A Practical Guide (7th Ed 2019), Pearson. Harlow, Pearson Education Limited
The intended subject specific learning outcomes. On successfully completing the module students will be able to:
- Critically evaluate the institutional frameworks and standards
- Critically evaluate the conceptual frameworks for financial reporting
- Critically analyse and interpret final financial statements of both national and multinational corporations including the use of ratio analysis
- Apply the requirements of international accounting standards to account for complex corporate transactions and events in financial statements
- Prepare financial statements for single entities in compliance with International Financial Reporting Standards
- Prepare and present financial statements for business combinations in compliance with International Financial Reporting Standards
The intended generic learning outcomes.
On successfully completing the module students will be able to
- Develop and refine skills in synthesizing information, constructing complex arguments and critically evaluating accounting issues
- Identify and apply appropriate techniques for corporate decision making
- Plan and work independently using various learning resources
- Demonstrate advanced technological ability in acquiring, analysing and communicating effectively on accounting issues
- Communicate accounting information as appropriate for a business audience
- Work effectively in a group environment
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