Brighton Business School

MODULE DETAILS

Module title Financial Reporting (International)

Module code AA2F7

Credit value 30

Level Mark the box to the right of the

appropriate level with an ‘X’

Level 4 Level 5 X Level 6 X Level 7 Level 8

Level 0 (for modules at foundation level)

Entry criteria for registration on this module

Pre-requisites Specify in terms of module codes or

equivalent

Co-requisite modules Specify in terms of module codes or

equivalent

None

Module delivery

Mode of delivery Taught X Distance Placement Online

Other

Pattern of delivery Weekly X Block Other

When module is delivered Semester 1 Semester 2 Throughout year X

Other

Brief description of module

content and/ or aims Overview (max 80 words)

This module builds on the basic concepts and techniques of financial

accounting. It puts these in the context of financial reporting through the

extension of the students existing knowledge in financial accounting to

more advanced financial reporting for companies and groups.

Module team/ author/

coordinator(s)

Nigel Padbury/Patricia Coffey

School Business School

Site/ campus where

delivered

Moulsecoomb

Course(s) for which module is appropriate and status on that course

Course Status (mandatory/ compulsory/

optional)

Diploma in Professional Studies in Accounting Mandatory

ACCA Compulsory

MODULE AIMS, ASSESSMENT AND SUPPORT

Aims 1. To provide an understanding of the current financial reporting requirements for single companies. 2. To provide an understanding of the theoretical aspects of consolidation and the preparation of group accounts. 3. To provide a basis for the critical analysis of current financial reports.

Learning outcomes By the end of the module the students should be able to: Subject specific

1. Discuss and apply a conceptual framework for financial reporting. 2. Discuss a regulatory framework for financial reporting. 3. Account for transactions in accordance with International Accounting Standards. 4.Analyse and interpret financial statements 5.Prepare and present financial statements for single entities and business combinations in accordance with International Accounting Standards

Cognitive 6. Demonstrate numeracy skills including the ability to assimilate financial information and apply appropriate accounting techniques and Accounting Standards to that information. 7. Demonstrate the ability to analyse financial statements and to articulate findings by preparing a report using word processing software.

Content The Conceptual and Regulatory Framework for financial reporting a) The need for a Conceptual framework and the characteristics

of useful information. b) Recognition and measurement. c) Specialised, not-for-profit, and public sector entities. d) Regulatory framework The concepts and principles of groups and consolidated financial statements a) Definition of subsidiary companies. b) Exclusions from consolidations. c) Preparation of consolidated profit and loss accounts and balance sheets including: i) elimination of intra-group transactions ii) fair value adjustments. d) Associated companies, joint ventures. Accounting for transactions in financial statements a) Tangible and intangible non-current assets. b) Impairment of assets. c) Inventory and biological assets. d) Provisions and events after the reporting period e) Leasing f) Financial instruments g) Taxation h) Reporting financial performance i) Revenue j) Government grants Preparation of financial statements a) Preparation of single entity financial statements b) Preparation of consolidated financial statements including an

associate Analysing and interpreting financial statements a) Limitations of financial statements. b) Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs. c) Preparation and analysis of cash flow statements of a single company. d) Limitations of interpretation techniques e) Specialised, not-for-profit and public sector entities

Learning support Indicative reading: The latest editions of: Alan Melville: International Financial Reporting : Pearson Lewis, R & Pendrill, D : Advanced financial accounting; Pitman OR Elliott, B & Elliott, J: Financial accounting and reporting; Prentice Hall AND BPP study text Additional Reading: Latest editions of: Blake, J & Lunt: Accounting Standards; Prentice Hall Alexander, D: Financial reporting - the theoretical and regulatory framework; International Thompson Business Press Holmes & Sugden, Interpreting Company Accounts; Prentice Hall Alexander & Britton, Financial Reporting; International Thompson Business Press International Accounting Standards(IASs), International Financial Reporting Standards(IFRSs) and Exposure Drafts (EDs) as per Examinable documents Glautier and Underdown, Accounting theory and Practice; Pitman Davies, Paterson and Wilson, UK GAAP; Butterworth, Student Accountant The Financial times

All students benefit from: Studentcentral Online Library Resources (e-journals and e-books) Library facilities

Teaching and learning activities

Details of teaching and

learning activities

The basis of the presentation of new material will be by the use of lectures supported by course notes, student research and workshops. Workshops These will support the lectures. Students will be given questions in each workshop and will be expected to work through them. These will be both discursive and problem solving questions. The aim of the workshops is to ensure knowledge and understanding of the subject and to encourage critical and analytical thinking.

Allocation of study hours (indicative) Where 10 credits = 100 learning hours

Study hours

SCHEDULED

This is an indication of the number of hours students can expect to

spend in scheduled teaching activities including lectures, seminars,

tutorials, project supervision, demonstrations, practical classes and

workshops, supervised time in workshops/ studios, fieldwork, and

external visits.

44

GUIDED INDEPENDENT

STUDY

All students are expected to undertake guided independent study

which includes wider reading/ practice, follow-up work, the

completion of assessment tasks, and revisions.

256

PLACEMENT

The placement is a specific type of learning away from the

University. It includes work-based learning and study that occurs

overseas.

N/A

TOTAL STUDY HOURS 300

Assessment tasks

Details of assessment on

this module

The in-course assessment (25%) will consist of two elements – an analysis/case study based on a particular aspect/aspects of the syllabus and a full financial analysis of an individual company. For the full financial analysis, students will each be allocated their own company. There will be a three hour unseen examination which will test students' subject specific understanding and knowledge. The examination will carry a weighting of 75% of the module mark. The examination will not include specific questions on aspects of the syllabus previously covered by the in-course assessment.

Types of assessment task1 Indicative list of summative assessment tasks which lead to the award of credit or which are required for

progression.

% weighting (or indicate if

component is

pass/fail)

WRITTEN

Written exam learning outcomes 1,2,3,5,6 75%

COURSEWORK

Written assignment/report – learning outcomes 4,7,3 25%

N

PRACTICAL

Oral assessment and presentation, practical skills assessment, set

exercise N/A

EXAMINATION INFORMATION

Area examination board Diploma in Professional Studies in Accounting

Refer to Faculty Office for guidance in completing the following sections

External examiners

Name Position and institution Date appointed Date tenure

ends

Charles Lord PT lecturer March 2013 Dec 2017

QUALITY ASSURANCE

Date of first approval Only complete where this is not the

first version

Date of last revision Only complete where this is not the

first version

Date of approval for this

version

July 2016 (Q&S published Sep 16)

Version number 3

Modules replaced AA207

1 Set exercises, which assess the application of knowledge or analytical, problem-solving or evaluative skills, are included

under the type of assessment most appropriate to the particular task.

Specify codes of modules for which

this is a replacement

Available as free-standing module? Yes No X