This module is not currently running in 2021 to 2022.
This module considers some of the most important and contentious international accounting standards as debates about the value and appropriateness of different approaches of accounting for business combinations, financial instruments and pension obligations continue to evolve. The module content will include the following indicative areas:
- Acquisition accounting for different methods of business expansion/combinations;
- Accounting for partnerships;
- Multi-national accounting in the context of foreign currency transactions;
- Financial instruments;
- Share capital and distributable profits;
- Employee benefits.
Total contact hours: 25
Private study hours: 125
Total study hours: 150
Main assessment methods
Essay (2000 words) (30%)
Examination, 2 hour (70%).
Reassessment method:
100% Exam
D. Alexander, A. Britton and A. Jorissen, International financial reporting and analysis (5th edition), Cengage Learning, 2011.
T. Christensen, D. Cottrell and R. Baker, Advanced financial accounting (10th edition), McGraw-Hill Education (UK) Ltd., 2014.
B. Elliott and J. Elliott, Financial accounting and reporting (latest edition), FT Prentice Hall.
See the library reading list for this module (Canterbury)
The intended subject specific learning outcomes.
On successfully completing the module students will be able to:
- critically evaluate and explain acquisition accounting for different methods of business expansion, different types of organisational structures and acquisitions;
- critically explain accounting treatments for a partnership, evaluating the methods used to record changes in partnership membership;
- critically evaluate multi-national accounting in the context of foreign currency transactions and explain issues in financial reporting and translation of foreign entity statements;
- critically comment on the international accounting requirements for financial instruments and know how to account for different types of common financial instruments that companies may use;
- critically analyse the rules relating to distributable profits and know how to account for issue of shares and reduction of capital. Understand and explain the benefits and ramifications of convergence to international financial reporting standards (IFRS) and international harmonization of accounting standards for public offerings;
- critically evaluate the approaches to pension accounting under international accounting standards and know how to account for different types of pension plans companies may have.
The intended generic learning outcomes.
On successfully completing the module students will be able to:
- demonstrate critical thinking;
- demonstrate problem solving, including ability to create and evaluate a range of solutions, as well as to apply knowledge to a range of business contexts;
- select, organise, develop and synthesise complex material;
- demonstrate Numeracy and quantitative skills, including analysing and interpreting data;
- plan, work and study independently;
- demonstrate effective oral and written communication skills.
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