AF3S539 - Advanced Financial Reporting 01 Sep 2022 - 31 Aug 2026 | Version 1
Associated Module Information
| Module Code: | AF3S539 | ||
|---|---|---|---|
| Module Title: | Advanced Financial Reporting | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Simon Mccarthy | ||
| Module Team: | Jared Davies, Geraint Evans | ||
| First Intended Intake: | Final Year of Intake: | ||
| Date Closed: | |||
| Credit Value: | 20 | Credit Level: | 6 |
| Language: | English | ||
| Percentage of Module Taught in Welsh: | 0 | ||
| Equivalent Module: | |||
| HECOS codes: | |||
| HECOS Code Weighting: | |||
Document Version Information
| Version | 1 |
|---|---|
| Valid From | 01 Sep 2022 |
| Valid To | 31 Aug 2026 |
Module Aims
This module aims to investigate the financial reporting framework and explore the recent and current developments and experiments to extend financial reporting beyond the minimal regulatory requirements and to develop a thorough knowledge, understanding and technical ability applying accounting standards in the preparation of financial statements of entities, including groups, and how to analyse and interpret those financial statements.
Content Summary
The module will consider attempts that have or are being made to extend the financial reporting framework by including additional statements such as social and environmental reports.
The preparation of financial statements will be extended to include provisions, accounting for retirement benefits, foreign currency transactions, the preparation and adjustment to group accounts and the treatment of associate companies and foreign subsidiaries.
Final accounts will be analysed and interpreted and the potential bias introduced by creative accounting will be considered. Attempts by the international standard setters to reduce such bias, for example by standards on substance over form, capital instruments, provisions and contingencies etc., will be explored.
Finally, current issues and developments in financial reporting will be kept under review and addressed when necessary.
Learning and Teaching Methods
| Activity Type | Hours |
|---|---|
| Practical classes and workshops | 44 |
| Independent Study | 56 |
| Directed Study | 96 |
| Formative Assessment - Scheduled | 4 |
| Total Hours Selected | 200 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Summarise the financial reporting framework and current issues. |
| LO2 | Produce financial reports which conform to International Accounting Standards, interpret financial reports and critique current and developing financial reporting theory and practice. |
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 | An examination based on current accounting issues and a critical understanding of selected financial reporting standards and/or frameworks | 120 | N/A | 70 | No | 40 |
| Synchronous Onsite Assessment | Classroom Test - Time Constrained (Onsite) 1 | Assignment based on selected international financial reporting standards and/or frameworks | 60 | N/A | 30 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||
|---|---|---|---|
| LO1 | LO2 | ||
| Onsite Closed Book Examination 1 | ✔ | ✔ | |
| Classroom Test - Time Constrained (Onsite) 1 | ✔ | ✔ | |