ACC40970 Advanced Financial Reporting

Academic Year 2020/2021

Corporations have responsibilities to a multitude of stakeholders. Among the stakeholders of a corporation are capital providers, employees, local communities, animals, etc. who are impacted by the corporation’s operations. Associated with each corporate responsibility is a duty for accountability. Accounting is a mechanism that allows the directors of a corporation to account (provide information) for the entity’s economic and non-economic performance. This module focuses on two specialised forms of accountability: accounting for interests in other entities and integrated reporting. Accounting for interests in other entities is a form of financial reporting. The module covers specific rules for accounting for interests in subsidiaries, associates and joint ventures. Integrated reporting involves accounting for a corporation’s economic and non-economic performance to a wide range of stakeholders. Both accounting for interests in other entities and integrated reporting provide useful information on a corporation to a wide range of stakeholders to facilitate their interactions with the corporation.

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Curricular information is subject to change

Learning Outcomes:

On completion of this module, students should be able to:
• Understand complex transactions and management judgements from an accounting perspective.
• Differentiate between various types of interests in other entities.
• Prepare financial statements to account for interests in subsidiaries, associates and joint ventures.
• Differentiate between the traditional versus the stakeholder view of a corporation’s responsibilities.
• Understand the background, purpose and key concepts of integrated reporting.

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

Class Test: Final Exam 2 hour End of Trimester Exam n/a 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.

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