Financial Reporting
Overview
- Credit value: 30 credits at Level 5
- Convenor and tutor: Dr Lorenzo Neri
- Prerequisite: Introduction to Accounting
- Assessment: a mid-term test (25%) and three-hour 15-minute examination (75%)
Module description
In this module we focus on the key accounting concepts which underpin the development of financial reporting. You will learn how to account for complex accounting transactions in accordance with International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS).
Indicative syllabus
- Introduction and conceptual framework
- Financial statements
- Property, plant and equipment
- Intangibles
- Inventory and construction contract
- Leases
- Liabilities
- Employee benefits
- Financial instruments
- Revenue
- Taxation
- Statement of cash flow
- Consolidation
- Earnings per share
- Ratios, analysis and interpretation
Learning objectives
By the end of this module, you will be able to:
- critically assess the objectives, users and characteristics of accounting
- critically assess the current standard-setting process under IASB
- apply and critically assess the provisions of a selection of accounting standards
- account for the recognition and measurements of the a range of accounting transactions
- prepare cash flow statements in single company accounts
- prepare consolidated accounts and understand when group accounts should be prepared and when companies should be excluded from consolidated accounts
- prepare financial statements using different accounting conventions.