Module Details for the Academic Year 2017/2018
ACC40090 Fin 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.
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.
|Specified Learning Activities
|Autonomous Student Learning
|Continuous Assessment :Assessment of accounting policies of a group of companies
||15% of Final Grade
|Continuous Assessment :Comprehensive assessment and critique of the annual report/financial statements
||15% of Final Grade
|Continuous Assessment :Group readings
||5% of Final Grade
|Examination :End of Module examination
||65% of Final Grade
||2 Hour End Of Semester Exam
If you fail this module you may repeat, resit or substitute where permissible