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ACC40970

Academic Year 2024/2025

Advanced Financial Reporting (ACC40970)

Subject:
Accountancy
College:
Business
School:
Business
Level:
4 (Masters)
Credits:
8
Module Coordinator:
Siddharth Mahendra Purohit
Trimester:
Summer
Mode of Delivery:
On Campus
Internship Module:
No
How will I be graded?
Letter grades

Curricular information is subject to change.

Introduction:
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. As a result of EU regulation, all companies listed on EU stock exchanges are required to present their financial statements in accordance with the International Financial Reporting Standards (IFRSs). This module is designed to provide students with the technical IFRS skills related to accounting for specific transactions or events and develop the ability of students to apply the IFRSs to prepare financial reports.

This module will cover the following topics:
IAS 12 – Income Taxes
IAS 21 – The Effects of Changes in Foreign Exchange Rates
IAS 33 – Earnings per Share
IAS 37 – Provisions, Contingent Liabilities & Contingent Assets
IAS 38 – Intangible Assets
IFRS 5 – Non-current Assets Held for Sale and Discontinued Operations
IFRS 7 – Financial Instruments: Disclosure
IFRS 9 – Financial Instruments

About this Module

Learning Outcomes:

On completion of this module, students should be able to:
• To understand complex transactions and management judgements from an accounting perspective.
• Prepare the financial statements of profit-oriented entities using specified elements of IFRSs.
• Demonstrate an understanding of the complex issues involved in the recognition and measurement of assets and liabilities.

Student Effort Hours:
Student Effort Type Hours
Lectures

24

Specified Learning Activities

24

Autonomous Student Learning

102

Total

150


Approaches to Teaching and Learning:
Lectures and workshops

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 

Assessment Strategy  
Description Timing Component Scale Must Pass Component % of Final Grade In Module Component Repeat Offered
Quizzes/Short Exercises: This assessment will be worth 20% of the final grade for the module and will be based on an in-class closed-book MCQ test. Further details will be provided during the first week of the module. Week 2 Standard conversion grade scale 40% No

20

No
Exam (In-person): This will be a two-hour closed-book final examination which will be worth 80% of the final grade for the module. End of trimester
Duration:
2 hr(s)
Standard conversion grade scale 40% Yes

80

Yes

Carry forward of passed components
Yes
 

Resit In Terminal Exam
Autumn Yes - 2 Hour
Please see Student Jargon Buster for more information about remediation types and timing. 

Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Essential: Please purchase the following book (or e-book) from the link below:
ACCA Financial Reporting (FR) Study Text by Kaplan Publishing - https://kaplanpublishing.co.uk/acca/applied-skills/financial-reporting/study-text

Kaplan also provides an Exam Kit that provides extra questions. These questions will not be covered in the module but may be useful for self-study.
Link: https://kaplanpublishing.co.uk/acca/applied-skills/financial-reporting/exam-kit

The following textbook will also be useful for self-study -
Alexander et al. (2023), International Financial Reporting and Analysis, 9th Edition.
Link: https://www.cengage.uk/c/international-financial-reporting-and-analysis-9e-alexander-jorissen-hoogendoorn-van-mourik-kirwan-inwinkl-michelon/9781473786820/

The website https://www.iasplus.com/en provides summary materials on all the accounting standards covered in this module.

Name Role
Siddharth Mahendra Purohit Lecturer / Co-Lecturer