Description

Financial Accounting and Reports

Description - summary of the module content

Module description

This module provides an introduction to financial accounting as well as providing a solid foundation in the theory and practice of financial management. Students will be equipped with the necessary competencies in the preparation and presentation of financial statements.

This module has no pre-requisite and is suitable for students who seek to pursue postgraduate degrees in Finance and/or Accounting.

Module aims - intentions of the module

The module aims to give students a solid foundation in the theory and practice of financial accounting and financial management. Students will be equipped with necessary competencies in the preparation and presentation of financial statements according to the requirements of the International Financial Reporting Standards. Students will also gain knowledge and understanding of the accounting theories and apply this using contextual information.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

On successfully completing the module you will be able to...

• 1. Prepare and present financial statements which conform with international accounting standards
• 2. Analyse and interpret financial statements using contextual information
• 3. Identify the relationships among the income statement, balance sheet, statement of cash flows, and statement of owner's equity
• 4. Evaluate financial accounting information as the basis of finance decision-making

ILO: Discipline-specific skills

On successfully completing the module you will be able to...

• 5. Apply logical thinking and numeracy skills to problems by using appropriate accounting and finance techniques
• 6. Develop a sound knowledge of reporting and accounting principles
• 7. Apply financial statement analysis in making investment decisions
• 8. Evaluate the implications of inflation and deflation of inventory costs on financial statements

ILO: Personal and key skills

On successfully completing the module you will be able to...

• 9. Use appropriate learning resources
• 10. Present material effectively in written form
• 11. Demonstrate basic written and numerical skills

Syllabus plan

Syllabus plan

• Preparation of financial statements and financial plans
• Regulatory framework
• Statement of financial position (equity, liability, asset measurement and disclosure)
• Consolidated accounts
• Interpretation
• Accountability
• Capital structure
• Sources of finance
• The financial markets
• Risk management

Learning and teaching

Learning activities and teaching methods (given in hours of study time)

Details of learning activities and teaching methods

Assessment

Formative assessment

Summative assessment (% of credit)

Details of summative assessment

Re-assessment

Details of re-assessment (where required by referral or deferral)

Re-assessment notes

Deferral – if you miss an assessment for reasons judged legitimate by the Mitigation Committee, the applicable assessment will normally be deferred. See ‘Details of reassessment’ for the form that assessment usually takes. When deferral occurs there is ordinarily no change to the overall weighting of that assessment.

Referral – if you have failed the module overall (i.e. a final overall module mark of less than 40%) you will be required to take a re-sit exam and re-submission. Only your performance in this exam will count towards your final module grade. A grade of 40% will be awarded if the examination is passed.

Resources

Indicative learning resources - Basic reading

Financial Accounting and Reporting (17th Edition), Elliott and Elliott; Pearson (2015)

Module has an active ELE page

Key words search

Financial Accounting, Financial Reports, Finance, Accounting