ACC40070 Financial Reporting

Academic Year 2022/2023

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.

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Curricular information is subject to change

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.

Student Effort Type Hours
Lectures

36

Small Group

1

Specified Learning Activities

36

Autonomous Student Learning

78

Total

151

Requirements, Exclusions and Recommendations

Not applicable to this module.


Module Requisites and Incompatibles
Not applicable to this module.
 
Assessment Strategy  
Description Timing Open Book Exam Component Scale Must Pass Component % of Final Grade
Continuous Assessment: Continuous Assessment Examination Week 3 n/a Alternative non-linear conversion grade scale 50% No

10

Examination: End of semester examination 3 hour End of Trimester Exam Yes Alternative non-linear conversion grade scale 50% No

90


Carry forward of passed components
No
 
Resit In Terminal Exam
Summer Yes - 3 Hour
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Autumn
     
Lecture Offering 1 Week(s) - 2, 3, 4, 8, 11, 12 Fri 09:00 - 10:50
Seminar Offering 1 Week(s) - 2 Fri 11:30 - 13:20
Lecture Offering 1 Week(s) - 8 Fri 11:30 - 13:20
Seminar Offering 1 Week(s) - 2 Fri 14:30 - 16:20
Seminar Offering 1 Week(s) - 1, 3 Mon 09:00 - 10:50
Seminar Offering 1 Week(s) - 1, 3 Mon 11:30 - 13:20
Seminar Offering 1 Week(s) - 1, 2 Mon 14:30 - 16:20
Lecture Offering 1 Week(s) - 2, 3, 4, 6, 7, 9, 10, 11, 12 Thurs 09:00 - 10:50
Seminar Offering 1 Week(s) - 2 Thurs 11:30 - 13:20
Seminar Offering 1 Week(s) - 1, 2, 3 Tues 09:00 - 10:50
Lecture Offering 1 Week(s) - 6, 7 Tues 09:00 - 10:50
Seminar Offering 1 Week(s) - 1, 2 Tues 11:30 - 13:20
Seminar Offering 1 Week(s) - 1 Tues 14:30 - 16:20
External & School Exams Offering 1 Week(s) - 4 Wed 10:00 - 11:50
Autumn
     

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