Module Descriptors
ADVANCED FINANCIAL ACCOUNTING
ACCT50098
Key Facts
Faculty of Business, Education and Law
Level 5
30 credits
Contact
Leader: Helen Buttery
Email: H.Buttery@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 72
Independent Study Hours: 228
Total Learning Hours: 300
Assessment
- EXAMINATION - UNSEEN IN EXAMINATION CONDITIONS weighted at 100%
Module Details
Module Resources
The University Library and learning resources
Internet
E-mail
Excel
Electronic data such as EBSCO
The module website
Internet
Excel
Electronic data such as EBSCO
The module website
Module Indicative Content
The module aims to build on the basics of accounting previously covered; to develop students to become proficient at day to day accounting and have knowledge of up to date accounting issues. It begins by revisiting double entry book keeping and the structure of accounts; this is then developed into the preparation of limited company accounts with supporting disclosure notes in accordance with international accounting standards and the Companies Acts 1985, 1989 and 2006.
A number of key financial standards will be discussed, establishing the reason and for them and the application of them. These will include but will not be limited to IAS 1, Presentation of Financial Statements; IAS 16, Property, Plant and Equipment; IAS 17 Leases and IAS 10, Events After the Balance Sheet Date. Students will use spreadsheets to prepare extended trial balances to assist in the preparation of Income Statements and Balance Sheets.
The preparation of cash flow statements in accordance with IAS 7, Cash Flow Statements and consolidated income statements and balance sheets will also be covered.
A number of key financial standards will be discussed, establishing the reason and for them and the application of them. These will include but will not be limited to IAS 1, Presentation of Financial Statements; IAS 16, Property, Plant and Equipment; IAS 17 Leases and IAS 10, Events After the Balance Sheet Date. Students will use spreadsheets to prepare extended trial balances to assist in the preparation of Income Statements and Balance Sheets.
The preparation of cash flow statements in accordance with IAS 7, Cash Flow Statements and consolidated income statements and balance sheets will also be covered.
Module Texts
Alfredson K, Leo K, Picker R, Pacter, P, Radford J, Wise V. (2005). Applying International Accounting Standards. John Wiley & Sons. ISBN 0-470-80494-0
Alexander D, Britton A & Jorissen A. (2005). International Financial Reporting and Analysis, 2nd edition. Thomson Learning. ISBN 1-84480-201-9
Mirza A.A, Holt G.J, Orrell M. (2006). IFRS Workbook and Guide. John Wiley & Sons. ISBN 0-471-69742-7
Alexander D, Britton A & Jorissen A. (2005). International Financial Reporting and Analysis, 2nd edition. Thomson Learning. ISBN 1-84480-201-9
Mirza A.A, Holt G.J, Orrell M. (2006). IFRS Workbook and Guide. John Wiley & Sons. ISBN 0-471-69742-7
Module Special Admissions Requirements
Introduction to Financial Accounting or equivalent
Module Learning Strategies
The learning strategy for the module requires students to commit 300 learning hours (including assessment) of this there will be 72 hours of class support and 228 hours of independent and self directed study learning support material will be provided for the module.
The lectures will provide the main advanced financial accounting themes, analysis of concepts and their application. This knowledge will be reinforced by the preparation and discussion of questions in the tutorials and by student self directed study time. The latter will include visiting corporate web sites to support the knowledge acquired.
The lectures will provide the main advanced financial accounting themes, analysis of concepts and their application. This knowledge will be reinforced by the preparation and discussion of questions in the tutorials and by student self directed study time. The latter will include visiting corporate web sites to support the knowledge acquired.
Module Additional Assessment Details
An Examination - unseen in examination conditions length 2.5 hour(s) weighted at 100%. Tests Learning Outcomes 1, 2 and 3.