Advanced Corporate Reporting
| Module title | Advanced Corporate Reporting |
|---|---|
| Module code | BEAM071 |
| Academic year | 2021/2 |
| Credits | 15 |
| Module staff | Warren Maroun (Convenor) |
| Duration: Term | 1 | 2 | 3 |
|---|---|---|---|
| Duration: Weeks | 11 |
| Number students taking module (anticipated) | 100 |
|---|
Module description
This module provides students with a critical understanding of the conceptual/theoretical and technical aspects of corporate financial reporting. Corporate financial reporting plays a crucial role in facilitating resource allocation in the economy. Corporate reports are often used by company management to communicate the corporates’ economic activities to relevant stakeholders, and by interested users to make decisions. The module will consider a range of financial reporting issues that are important in understanding and evaluating the informational role that corporate financial reporting plays. It will also expose students to a mix of academic and professional literature to build on an existing understanding of the requirements of International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).
This module is targeted at students who already have a good understanding of intermediate financial reporting at the undergraduate or equivalent level (e.g. part-qualified student accountants).
Module aims - intentions of the module
This module aims to enable students to discuss, apply and evaluate the concepts, principles and practices that underpin the preparation and interpretation of corporate reports in various contexts. It also aims to develop students’ critical thinking, problem solving and written communication skills.
Intended Learning Outcomes (ILOs)
ILO: Module-specific skills
On successfully completing the module you will be able to...
- 1. Discuss and appraise corporate financial reporting strategy in terms of professional and ethical standards.
- 2. Discuss, explain and critically evaluate the conceptual framework of financial reporting.
- 3. Discuss, apply and appraise the international accounting requirements/treatments for: revenue recognition; non-current assets; financial instruments; leases; employee benefits; taxation; provisions, contingencies and events after the reporting date; share-based payments; fair value measurement; small and medium-sized entities; and business combinations.
- 4. Prepare the financial statements of groups of entities in accordance with IFRSs.
- 5. Analyse and appraise the financial performance and position of entities.
- 6. Discuss complementary reporting frameworks such as integrated reporting and evaluate their relevance.
- 7. Discuss and appraise current issues in corporate reporting including implications of accounting regulation changes.
ILO: Discipline-specific skills
On successfully completing the module you will be able to...
- 8. Critically evaluate arguments and evidence.
- 9. Synthesise information and draw reasoned conclusions concerning structured and unstructured financial reporting problems from a given set of data.
- 10. Apply logical thinking and numeracy skills to problems by using appropriate accounting techniques and professional judgement.
ILO: Personal and key skills
On successfully completing the module you will be able to...
- 11. Use appropriate learning resources to manage own learning experience independently.
- 12. Communicate effectively in writing.
Syllabus plan
- Accounting ethics
- Conceptual framework of financial reporting
- Revenue
- Non-current assets
- Financial instruments
- Leases
- Employee benefits
- Income taxes
- Provisions, contingencies and events after the reporting date
- Share-based payment
- Fair value measurement
- Financial reporting requirements of small and medium-sized entities (SMEs)
- Consolidated financial statements
- Analysis and interpretation of financial statements
- Complementary reporting frameworks
- Current issues in corporate reporting
Learning activities and teaching methods (given in hours of study time)
| Scheduled Learning and Teaching Activities | Guided independent study | Placement / study abroad |
|---|---|---|
| 40 | 110 | 0 |
Details of learning activities and teaching methods
| Category | Hours of study time | Description |
|---|---|---|
| Scheduled Learning and Teaching Activities | 8 | Intensive refresher lectures |
| Scheduled Learning and Teaching Activities | 22 | Lectures (weekly) |
| Scheduled Learning and Teaching Activities | 10 | Tutorials (weekly) |
| Scheduled Learning and Teaching Activities | 110 | Directed reading and preparation for tutorials and assessments |
Formative assessment
| Form of assessment | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|
| Weekly Tutorials for discussion | 3 hours preparation by student 1 hour in class discussion | 1-12 | In class feedback Suggested solutions on ELE |
Summative assessment (% of credit)
| Coursework | Written exams | Practical exams |
|---|---|---|
| 0 | 100 | 0 |
Details of summative assessment
| Form of assessment | % of credit | Size of the assessment (eg length / duration) | ILOs assessed | Feedback method |
|---|---|---|---|---|
| Interim written test | 20 | 1 hour | 1-12 | Suggested solutions on ELE |
| Final written examination | 80 | 2 hours | 1-12 | Suggested solutions on ELE |
| 0 | ||||
| 0 | ||||
| 0 | ||||
| 0 |
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 |
|---|---|---|---|
| Interim written test (20%) and Final written exam (80%) | 2 hours written exam (100%) | 1-12 | August re-examination |
Re-assessment notes
Students who fail the module overall will be reassessed by way of a two-hour written examination in the summer of the respective academic year.
Indicative learning resources - Basic reading
Basic reading:
- Maynard, J (2017) Financial Accounting, reporting and analysis, 2nd edition, Oxford
- BPP, (2016) ACCA P2 Corporate Reporting (International and UK) Study Text, London: BPP Learning Media.
- Kaplan, (2016) ACCA P2 Corporate Reporting Study Text, London: Kaplan Publishing.
- Additional journal/professional articles relevant to the module.
Indicative learning resources - Web based and electronic resources
Web based and electronic resources: Exeter Learning Environment (ELE)
Indicative learning resources - Other resources
Additional reading list (e.g. academic/professional journal articles, etc.) will be provided at the end of every lecture.
| Credit value | 15 |
|---|---|
| Module ECTS | 7.5 |
| Module pre-requisites | ACCA F7 or equivalent |
| Module co-requisites | None |
| NQF level (module) | 7 |
| Available as distance learning? | No |
| Origin date | 01/12/2016 |
| Last revision date | 03/01/2019 |
