Description
Financial Accounting and Reports
| Module title | Financial Accounting and Reports |
|---|---|
| Module code | INT3614 |
| Academic year | 2022/3 |
| Credits | 15 |
| Module staff | Areeya Srisai (Lecturer) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 10 | 2 |
| Number students taking module (anticipated) | 20 |
|---|
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 accounting. 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 regulatory framework. 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, statement of financial position, statement of cash flows, and statement of owners equity
- 4. Evaluate the use of financial accounting information as the basis of financial 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 secure knowledge of reporting and accounting principles
- 7. Analyse financial statements to inform i investment decisions
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 8. Demonstrate an appropriate use of learning resources
- 9. Demonstrate ability to communicate financial information effectively and confidence with relevant numerical skills
Syllabus plan
Syllabus plan
-
Regulatory framework
-
IASB conceptual framework
-
Preparation of financial statements and financial plans including:
-
Statement of financial position (equity, liabilities, assets measurement and disclosure)
-
Income Statement
-
Cash Flow Statement
-
Statement of Owners’ Equity
-
Interpretation and analysis
-
Accountability
Learning and teaching
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 60 | 90 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Learning and Teaching | 10 | Lectures |
| Learning and Teaching | 50 | Seminars/Tutorials |
| Guided Independent Study | 60 | Practice on accounting techniques and revision for exam |
| Guided Independent Study | 30 | Reading and research and work on assignment |
Assessment
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| In-class Problem solving activities | 1-2 hours | 1-9 | Verbal and written and available on ELE |
| Small group discussion on case studies | 30 minutes | 2-9 | Verbal |
| Examination practice | 3 hours | 1,3,5,9 | Marks and feedback |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 50 | 50 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Examination | 50 | 3 hours | 1,3,5,9 | Marks and feedback |
| Applied Financial Reporting Individual Assignment | 50 | 1,500 words including tables | 2,4,6,7,8,9 | Marks and feedback |
Re-assessment
Details of re-assessment (where required by referral or deferral)
| Original form of assessment | Form of re-assessment | ILOs re-assessed | Timescale for re-assessment |
|---|---|---|---|
| Applied Financial Reporting Assignment | 2000 words including tables | 1-9 | As soon as possible after APAC |
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
Basic reading:
- Financial accounting for decision makers(9th Ed), Atrill,P. &McLaney,E., Pearson, (2020)
Indicative learning resources - Web based and electronic resources
Web-based and electronic resources:
Module has an active ELE page
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | None |
| Module co-requisites | None |
| NQF level (module) | 6 |
| Available as distance learning? | Yes |
| Origin date | 01/11/2019 |
| Last revision date | 26/08/2022 |