AF3D05 - Financial Accounting and Reporting 01 Sep 2019 - 31 Jul 2027 | Version 2
Associated Module Information
| Module Code: | AF3D05 | ||
|---|---|---|---|
| Module Title: | Financial Accounting and Reporting | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Rebecca Wright | ||
| Module Team: | Jared Davies | ||
| First Intended Intake: | SEP 2012 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 40 | Credit Level: | 6 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | 100845 - financial reporting | ||
| HECOS Code Weighting: | 100 | ||
Document Version Information
| Version | 2 |
|---|---|
| Valid From | 01 Sep 2019 |
| Valid To | 31 Jul 2027 |
Module Aims
- To enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS).
- Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios.
Content Summary
This module forms part of the ICAEW (ACA) Qualification as designed and examined by the ICAEW professional body. See Course Specification and Student Handbook for overall qualification structure. See the ICAEW website for detailed ACA syllabus documents:
Certificate Level:
https://www.icaew.com/-/media/corporate/files/learning-and-development/aca-evolved/syllabus/aca-certificate-level-2019-syllabus-v2.ashx?la=en
Professional Level:
https://www.icaew.com/-/media/corporate/files/learning-and-development/learningpartners/learningmaterials/aca-professional-level-2019-syllabus.ashx?la=en
Advanced Level:
https://www.icaew.com/-/media/corporate/files/learning-and-development/aca-evolved/syllabus/aca-advanced-level-2019-syllabus-v2.ashx?la=en
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Tutorial | 60 |
| Independent Study | 210 |
| Directed Study | 120 |
| Formative Assessment - Scheduled | 10 |
| Total Hours Selected | 400 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Explain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues. |
| LO2 | Prepare and present financial statements from accounting data for single entities in conformity with IFRS and explain the application of IFRS to specified single entity scenarios. |
| LO3 | Identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS and explain the application of IFRS to specified group scenarios. |
| LO4 | Describe the principal differences between IFRS and UK GAAP and prepare simple extracts from financial statements in accordance with UK GAAP, for both single entity and consolidated financial statements. |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Onsite Assessment (Exam) | Onsite Closed Book Examination 1 | All assessments are set by the ICAEW professional body and not by USW. Professional Level exams are computer-based. | 180 | N/A | 100 | No | 55 |
Assessment Matrix
| Assessment Type | Learning Outcomes | |||
|---|---|---|---|---|
| LO1 | LO2 | LO3 | LO4 | |
| Onsite Closed Book Examination 1 | ✔ | ✔ | ✔ | ✔ |