Advanced Financial Reporting

Module title	Advanced Financial Reporting
Module code	BEA3020
Academic year	2024/5
Credits	15
Module staff	Dr Chen Lim (Convenor)

Duration: Term	1	2	3
Duration: Weeks	0	11	0

Number students taking module (anticipated)	270

Module description

Summary:

The aim of the module is to enhance your knowledge of the theory and practice of financial reporting. To this end, the module will cover advanced financial reporting topics such as: accounting for changing price levels, financial instruments, employee benefits, foreign currency transactions, various types of business combinations e.g. subsidiaries, associates, joint arrangements, indirect holdings and acquisitions-in-stages), and theories of accounting regulations and accounting choice.

Additional Information:

Internationalisation

Internationalisation is embedded in the content of this module through the use of the International Financial Reporting Standards (IFRSs). Moreover, the principles of financial reporting are broadly common across most countries.

Sustainability

All of the resources for the module are available on the ELE (Exeter Learning Environment).

External engagement

The module content meets the standards of the professional accountancy bodies (e.g. ICAEW, ACCA, ICAS and CIMA) and the module is accredited by them.

Employability

Material taught in this module is highly relevant to accounting- and business-related jobs. The module also offers an opportunity for students to develop their numeracy and logical thinking skills.

Research in teaching

The module is informed by the module convenor’s research interest in financial reporting.

Module aims - intentions of the module

This module follows on from the second year Financial Accounting modules, study of which is a prerequisite for entry to this module. This module has three aims:

(1) to develop students’ knowledge and skills in applying accounting standards and the theoretical framework in: the preparation of financial statements for groups of entities; the accounting of financial instruments, employee benefits and foreign currency transactions; and the use of and problems with various income measurement and assets valuation bases.

(2) to provide students with an understanding of the economics and politics behind accounting standards setting and the accounting choice made by companies; and

(3) to advance students’ knowledge of advanced financial reporting issues and their ability to critique current practice.

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. account for changing price levels, financial instruments, employee benefits and foreign currency transactions in accordance with international accounting standards, and evaluate these standards;
3. account for various business combinations in accordance with international accounting standards
4. compare and evaluate the various methods of accounts consolidation.
5. explain and discuss the accounting choice of companies and the current state of accounting regulation from the theoretical perspectives of economics and politics.

ILO: Discipline-specific skills

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

6. analyse and draw reasoned conclusions concerning structured problems from a given set of data
7. apply logical thinking and numeracy skills to problems by using appropriate accounting and finance techniques
8. critically evaluate arguments and evidence

ILO: Personal and key skills

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

9. manage their own learning experience individually
10. use appropriate learning resources
11. communicate effectively in writing.

Syllabus plan

Accounting for changing price levels
Accounting for financial instruments
Accounting for employee benefits (pensions and share-based payments)
Accounting for foreign currency transactions (and balances)
Group accounts – Accounting for business combinations I
Group accounts – Accounting for business combinations II
Group accounts – Associates and Joint arrangements
Group accounts – Indirect holdings and acquisitions-in-stages
Group accounts – Statement of cash flows
Economics and politics of accounting regulations and accounting choice

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
20	130	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled Learning and Teaching Activity	10	Whole cohort sessions (10 weeks x 1 hour)
Scheduled Learning and Teaching Activity	10	Tutorials (10 weeks x 1 hour)
Guided Independent Study	130	Undertaking guided learning using learning material on ELE. Reading and preparation for tutorials and assessments

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Weekly tutorial problems for discussion	3 hrs preparation by student / 1 hr in-class discussion	1-11	In class and suggested solutions on ELE
Additional formative practice questions	3 hours preparation by students	1-11	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
In class test	20	1 hour	1-10	Suggested solutions on ELE
Written examination	80	2 hours	1-11	Suggested solutions on ELE

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
Written examination (80%)	Written examination (80%) (2 hours)	1-11	August reassessment period
In-class test (20%)	In-class test (20%) (1 hour)	1-10	August reassessment period

Re-assessment notes

If you pass the module overall you will not be referred in any component – even if you have not passed one of the individual components.

Students who fail the whole module will be re-assessed with an in-class test and/or summer examination, whichever is relevant as above.

Indicative learning resources - Basic reading

Alexander, D., Jorissen, A., Hoogendoorn, M., Van Mourik, C., & Kirwan, C. (2020). International financial reporting and analysis (8^thed.). Cengage Learning.
Melville, A. (2019). International financial reporting: A practical guide (7^thed.). Pearson Education.
Connolly, C. (2018). International financial accounting and reporting (6th ed.). Chartered Accountants Ireland.

Indicative learning resources - Web based and electronic resources

ELE – https://vle.exeter.ac.uk/course/view.php?id=10023

Indicative learning resources - Other resources

Additional reading list (e.g. academic journal articles, etc.) will be provided at the end of every lecture.

Key words search

Financial Reporting, Financial Accounting, International Financial Reporting Standards (IFRS)

Credit value	15
Module ECTS	7.5
Module pre-requisites	BEA2019 and BEA2020
Module co-requisites	None
NQF level (module)	6
Available as distance learning?	No
Origin date	01/02/2013
Last revision date	13/03/2023