Module Details for the Academic Year 2018/2019

ACC40090 Financial Reporting

Financial reporting is the means whereby managers provide an account to investors of the financial performance of their company. Financial reporting is one of the primary means of communicating with investors and is a lynchpin of corporate governance. This module addresses various aspects of financial reporting from the perspective of the average investor, focussing on the corporate governance mechanisms that enhance the quality of financial reports together with a detailed understanding of the content of annual reports. There are three key aspects to how information appears in financial reports: (i) accounting for transactions; (ii) presenting financial information; (iii) disclosure of information. The module has a strong applied element, including consideration of basic final accounts.

Financial Reporting is concerned with reporting information to external parties, primarily investors. It is subject to legal, accounting and stock exchange regulations. Management accounting on the other hand is concerned with the provision of information internally in organisations for use by managers. No regulations apply to management accounting and organisations can choose the methods of providing information internally to managers.

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After completing this module, student should be able to:
1. Prepare an income statement, balance sheet and statement of changes in equity in a form suitable for publication, and in this way be able to understand and read such primary financial statements with greater ease than prior to the module.
2. Prepare a cash flow statement in compliance with IAS 7 Cash Flow Statements, and in this way be able to understand and read such statements with greater ease than prior to the module, and be able to appreciate the value of the additional information and insights provided by such statements.
3. Understand the additional disclosures in, and to, published income statements as required by international accounting standards and, as such, understand better the ways in which companies report financial performance.
4. Appreciate some theoretical and conceptual aspects of financial reporting and the corporate governance mechanisms to enhance the quality of financial information as set out in some relevant financial reporting academic literature.
Item Workload


Specified Learning Activities


Autonomous Student Learning




Description % of Final Grade Timing
Continuous Assessment: Assessment of accounting policies of a group of companies


Week 4
Continuous Assessment: Comprehensive assessment and critique of the annual report/financial statements


Week 8
Continuous Assessment: Group readings


Examination: End of Module examination


2 hour End of Trimester Exam


This module is not passable by compensation

Resit Opportunities

In-semester assessment


If you fail this module you may repeat, resit or substitute where permissible

Module Requisites and Incompatibles

Equivalent Modules

Prior Learning

Curricular information is subject to change

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