AF2D03 - Financial Reporting 01 Sep 2023 - 31 Aug 2026 | Version 1
Associated Module Information
| Module Code: | AF2D03 | ||
|---|---|---|---|
| Module Title: | Financial Reporting | ||
| Faculty: | Faculty of Business and Creative Industries | ||
| Faculty Group: | Accounting and Finance | ||
| Faculty Sub Group: | Accounting and Finance | ||
| Module Leader: | Rosemary Eaton, Jared Davies | ||
| Module Team: | Nicola Gilbert, Rebecca Wright, Laurent Czechowski | ||
| First Intended Intake: | SEP 2023 | Final Year of Intake: | 2026 |
| Date Closed: | |||
| Credit Value: | 40 | Credit Level: | 5 |
| 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 2023 |
| Valid To | 31 Aug 2026 |
Module Aims
This module is one of six modules that form the Applied Skills Level of the ACCA Qualification. Successful completion of the internal assessments for this module will allow a student to claim exemption from ACCA’s Financial Reporting module.
Students may opt to sit ACCA’s external equivalent of this module.
Please note that aims, learning outcomes and content are based on the 2020 ACCA Financial Reporting Syllabus & Study Guide. Latest versions of all ACCA Syllabus & Study Guide documents can be found at: https://www.accaglobal.com/ca/en/student/exam-support-resources.html
This module aims 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 Financial Accounting (FA) 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 FA syllabus within the Applied Knowledge Level. 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 |
|---|---|
| Practical classes and workshops | 50 |
| Independent Study | 190 |
| Directed Study | 150 |
| Formative Assessment - Scheduled | 10 |
| Total Hours Selected | 400 |
Learning Outcomes
| # | Learning Outcome |
|---|---|
| LO1 | Discuss and apply conceptual and regulatory frameworks for financial reporting |
| LO2 | Account for transactions in accordance with International accounting standards |
| LO3 | Analyse and interpret financial statements |
| LO4 | Prepare and present financial statements for single entities and business combinations in accordance with International accounting standards |
| LO5 | Display competence in a range of soft/transferable skills |
Module Requisites
| Code | Title | Requisite Type |
|---|---|---|
| MOD013143 | Financial Accounting | pre-requisite |
Assessment Criteria
| Assessment Category | Assessment Type | Description | Duration | Word Count | Weight (%) | Best of? | Pass Mark |
|---|---|---|---|---|---|---|---|
| Synchronous Onsite Assessment (Exam) | Onsite Closed Book Examination 1 | Time Constrained Assessment | 195 | 3500 | 70 | No | 40 |
| Asynchronous Assessment | Report 1 | Case Study | 0 | 2000 | 30 | No | 40 |
Assessment Matrix
| Assessment Type | Learning Outcomes | ||||
|---|---|---|---|---|---|
| LO1 | LO2 | LO3 | LO4 | LO5 | |
| Onsite Closed Book Examination 1 | ✔ | ✔ | ✔ | ✔ | ✘ |
| Report 1 | ✔ | ✔ | ✔ | ✔ | ✔ |