ACC40970 Advanced Financial Reporting

Academic Year 2023/2024

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 International Financial Reporting Standards (IFRSs). The module is designed to provide students with the technical IFRS skills and develop the ability of students to apply the IFRSs to prepare financial reports.

The module will cover the following topics:
IAS 38 – Intangible assets
IAS 37 – Provisions, contingent liabilities & contingent assets
IFRS 15 – Revenue from contracts with customers
IFRS 16 – Leases
IFRS 9 – Financial instruments
IFRS 7 – Financial instruments: Disclosure
IAS 12 – Income taxes
IAS 33 – Earnings per share
IFRS 5 – Non-current assets held for sale and discontinued operations
IAS 21 - Effects of Changes in Foreign Exchange Rates

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Curricular information is subject to change

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 Type Hours
Lectures

24

Specified Learning Activities

24

Autonomous Student Learning

102

Total

150

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
Assignment: Continuous Assessment Throughout the Trimester n/a Standard conversion grade scale 40% No

20

Examination: Final Exam 2 hour End of Trimester Exam No Standard conversion grade scale 40% No

80


Carry forward of passed components
Yes
 
Resit In Terminal Exam
Autumn Yes - 2 Hour
Feedback Strategy/Strategies

• Group/class feedback, post-assessment

How will my Feedback be Delivered?

Not yet recorded.

Essential text: Alexander et al., (2017), International Financial Reporting and Analysis, 7th Edition.

Recommended reading: Deegan, C., and Unerman, J., (2011), Financial Accounting Theory (2nd European Edition), McGraw-Hill.
Name Role
Siddharth Mahendra Purohit Lecturer / Co-Lecturer

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