AF3U095 - Financial Reporting 01 Sep 2019 - 31 Aug 2020 | Version 1
Associated Module Information
| Module Code: | AF3U095 | ||
|---|---|---|---|
| Module Title: | Financial Reporting | ||
| Faculty: | Faculty of Business and Society | ||
| Faculty Group: | Law, Accounting and Finance | ||
| Faculty Sub Group: | Accounting (old) | ||
| Module Leader: | Rosemary Eaton | ||
| Module Team: | |||
| First Intended Intake: | SEP 2019 | Final Year of Intake: | |
| Date Closed: | |||
| Credit Value: | 30 | 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 | 1 |
|---|---|
| Valid From | 01 Sep 2019 |
| Valid To | 31 Aug 2020 |
Module Aims
This paper is one of nine papers that form the Fundamentals level of the ACCA professional examination scheme. Successful completion of the internal assessments for this paper will allow a student to claim exemption from ACCA’s F7 paper. Students may opt to sit ACCA’s external equivalent of this paper.
To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.
Content Summary
The financial reporting syllabus assumes knowledge acquired in Paper F3, Financial Accounting, and develops and applies this further and in greater depth.
The syllabus begins with the conceptual framework of accounting with reference to the qualitative characteristics of useful information and the fundamental bases of accounting introduced in the Paper F3 syllabus within the Knowledge module. It then moves into a detailed examination of the regulatory framework of accounting and how this informs the standard setting process.
The main areas of the syllabus cover the reporting of financial information for single companies and for groups in accordance with generally accepted accounting principles and relevant accounting standards.
Finally, the syllabus covers the analysis and interpretation of information from financial reports.
For the financial accounting, audit and assurance, law and tax papers except where indicated otherwise, ACCA will publish examinable documents once a year to indicate exactly what regulations and legislation could potentially be assessed within identified examination sessions.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Seminar | 50 |
| Independent Study | 90 |
| Directed Study | 150 |
| Formative Assessment - Scheduled | 10 |
| Total Hours Selected | 300 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Discuss and apply a conceptual framework for financial reporting |
| LO2 | Discuss a regulatory framework for financial reporting |
| LO3 | Prepare and present financial statements which conform with International accounting standards |
| LO4 | Account for business combinations in accordance with International accounting standards |
| LO5 | Analyse and interpret financial statements |
| LO6 | Display competence in a range of soft/transferable skills |
Module Requisites
N/A
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Written Examination | Written Examination - Closed Book (Unseen) 1 | 195 | N/A | 70 | No | 40 | |
| Written Assignment (CW) | Report (CW) 1 | 0 | 2000 | 30 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | |||||
|---|---|---|---|---|---|---|
| LO1 | LO2 | LO3 | LO4 | LO5 | LO6 | |
| Written Examination - Closed Book (Unseen) 1 | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
| Report (CW) 1 | ✔ | ✔ | ✔ | ✔ | ✔ | ✔ |