Advanced Financial Accounting

Module title	Advanced Financial Accounting
Module code	BEAM024
Academic year	2024/5
Credits	15
Module staff	Mr Adnan Isin (Lecturer)

Duration: Term	1	2	3
Duration: Weeks	10

Number students taking module (anticipated)	70

Module description

Summary:

This module introduces students to some advanced topics in financial reporting such as: accounting for business combinations, financial instruments, assets impairment, leases, taxes, etc. Drawing from empirical research, it also examines the decision usefulness and contracting roles of financial reporting.

Additional Information:

Internationalisation

International accounting standards which are adopted and used in many countries, are discussed and applied in this module.

Employability

This module offers the opportunity to develop skills in critical thinking, integration and synthesis between theoretical and practical perspectives, and the ability to identify potentially fruitful issues for further inquiry and research.

Students will be able to debate and discuss issues, and develop written skills.

Module aims - intentions of the module

This module aims to equip you with knowledge and skills in a number of key financial reporting topics that are relevant to contemporary practice and research. Overall, the module will enable students to:

develop a working knowledge of how to account for some advanced accounting transactions at both conceptual and operational levels; and,
develop a critical understanding of the roles of accounting in capital markets and in resolving conflicts between contracting parties.

Intended Learning Outcomes (ILOs)

ILO: Module-specific skills

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

1. describe and evaluate the accounting rules that govern business combinations, associates and joint ventures, financial instruments, assets impairments, revenue recognition, leases, income taxes, provisions and contingent liabilities;
2. account for business combinations, associate and joint ventures, financial instruments, assets impairments, revenue recognition, leases, income taxes, provisions and contingent liabilities in accordance with International Financial Reporting Standards;
3. discuss, synthesise and critically evaluate research on financial reporting quality;
4. discuss, synthesise and critically evaluate research on accounting information and capital markets.

ILO: Discipline-specific skills

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

ILO: Personal and key skills

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

5. critically analyse problems arising in both academic and practical contexts;
6. solve both structured and unstructured problems through analytical thinking;
7. communicate ideas effectively in writing.

Syllabus plan

Business Combinations and Consolidation
Business Combinations and Consolidation – Advanced Issues
Recognition of Financial Instruments
Tangible and Intangible Asset Impairments
Revenue Recognition (IFRS 15) & Leases (IFRS16)
Income Taxes
Accounting for Provisions, Contingent Liabilities/Assets
Research and Critical Evaluation: Research on Financial Reporting Quality
Research and Critical Evaluation: Research on the Link between Financial Reporting Quality, Accounting Information and Capital Markets.

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

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
30	120	0

Details of learning activities and teaching methods

Category	Hours of study time	Description
Scheduled Learning and Teaching Activity	20	Lectures
Scheduled Learning and Teaching Activity	10	Tutorials
Guided Independent Study	120	Reading and preparation for tutorials, workshops and assessments

Formative assessment

Form of assessment	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Problem sets	1 hour per week in class discussion	1-7	Verbal and suggested solutions on ELE.

Summative assessment (% of credit)

Coursework	Written exams	Practical exams
20	80	0

Details of summative assessment

Form of assessment	% of credit	Size of the assessment (eg length / duration)	ILOs assessed	Feedback method
Examination	80	3 hours	1-7	Written
Group assignment	20	2500 words	1-7	Written

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
Group assignment (20%)	Individual assignment (20%)	1-7	July/August Re-assessment period
Examination (80%)	Examination (80%) (3 hours)	1-7	August re-assessment period

Re-assessment notes

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

Indicative learning resources - Basic reading

Connolly, C. (2018). International Financial Accounting and Reporting. 6th ed. Dublin: Chartered Accountants Ireland. https://www.charteredaccountants.ie/productcatalog/product.aspx?ID=29532&AspxAutoDetectCookieSupport=1

Melville, A. (2019). International Financial Reporting: A Practical Guide. 7th ed. Harlow: Pearson Education. https://www.pearson.com/uk/educators/higher-education-educators/program/Melville-International-Financial-Reporting-7th-edition-7th-Edition/PGM2646807.html

Elliott, B. and Elliott, J. (2019). Financial Accounting and Reporting, 18th Edition, 19^th ed. Harlow: Pearson Education. https://www.pearson.com/uk/educators/higher-education-educators/program/Elliott-Financial-Accounting-and-Reporting-19th-Edition/PGM2346675.html

In addition, a selection of academic journal articles will be made available on ELE.

Indicative learning resources - Web based and electronic resources

Module ELE: https://vle.exeter.ac.uk/course/view.php?id=140

Other useful websites:

IAS Plus: https://www.iasplus.com/en
The IFRS Foundation: https://www.ifrs.org/

Key words search

Financial Accounting, Financial Reporting

Credit value	15
Module ECTS	7.5
Module pre-requisites	None, but students are expected to have undertaken some financial accounting studies at the undergraduate level.
Module co-requisites	None
NQF level (module)	7
Available as distance learning?	No
Origin date	01/09/06
Last revision date	23/09/2021