Learning Outcomes:
On completion of this course students will be expected to be able to:(1) Prepare and present individual company financial statements in accordance with Irish company law, stock exchange regulations and IFRS (2) Prepare and present individual elements of company financial statements (3) Identify and apply the practical and economic implications of the standards studied on the course (4) Discuss current trends and developments in financial reporting.
Indicative Module Content:
Financial reporting involves the preparation and presentation of company financial statements within a regulatory framework of financial reporting standards, company law and stock exchange regulations. In Ireland, as in some other European countries such as the UK, two suites of financial accounting / reporting standards are valid. As a result of EU regulation, all companies listed on EU stock exchanges are required to present their financial statements in accordance with International Financial Reporting Standards (IFRS), whilst in Ireland, private limited companies have the option of presenting their financial statements either in accordance with IFRS or UK/Irish GAAP. This course will focus on IFRS (though similarities and differences between IFRS and UK/Irish GAAP will be considered). It is designed to ensure that students have detailed knowledge of, and the ability to apply, the significant IFRSs relating to the preparation and presentation of individual company financial statements.
Students must attempt all the assessment components of a module.