Pre-requisites Students must have studied L4 Introduction to Financial Accounting or equivalent

1. Understand and critically evaluate the role of the conceptual framework for financial reporting Analysis
Knowledge and Understanding
Learning

2. Understand and critically evaluate the role of the international regulatory framework for financial reporting Analysis
Application
Communication
Knowledge and Understanding
Learning

3. Prepare, present and analyse financial statements which conform with international accounting standards Analysis
Application
Communication
Knowledge and Understanding
Learning

4. Prepare and present accounts for business combinations in accordance with international accounting standards
Application
Communication
Knowledge and Understanding
Learning

Two EXAMS length 1½ hours each weighted at 50% at the end of each semester.

Exam 1: An exam of length 1½ hours plus 10 minutes reading time weighted at 50% covering learning outcomes 1, 2 & elements of 3. Scheduled at the end of semester 1.

Exam 2: An exam of length 1½ hours plus 10 minutes reading time weighted at 50% covering learning outcome 3 and 4. Scheduled at the end of semester 2.

PLEASE NOTE ALTERNATIVE ASSESSMENTS FOR Semester 1 2020/21 DUE TO COVID-19 AS FOLLOWS: Written Exam - 2 hrs (including an additional 30 mins for writing and attaching the answers via Turnitin (2020/21 Covid-19) - 50% Written Exam - 2 hrs (including an additional 30 mins for writing and attaching the answers via Turnitin (2020/21 Covid-19) - 50%

You will learn how to apply accounting standards, theoretical frameworks and principles to a range of financial statements including a statement of financial position and a statement of cash flow which conforms with international accounting standards. You will also explore the application of financial statements interpretation, group accounts preparation through case studies.

The module aims to build on the basics of accounting previously covered, to develop your knowledge and skills in understanding and applying international accounting standards. You will gain an understanding and an ability to apply the theoretical framework of accounting and be able to prepare a statement of comprehensive income, statement of changes in equity, a statement of financial position and a statement of cash flows which conform with international accounting standards. You will also study business combinations, the concepts and principles of a group of companies and the preparation of consolidated financial statements including an associate company.

When studied as part of the BA (Hons) Accounting and Finance, Two Year BA (Hons) Accounting and Finance, the successful completion of this module may lead to an exemption from a professional accountancy qualification – for up-to-date information on accreditation and exemptions please contact the Award Leader.

246 hours of student centred activities involving reading, self-assessed exercises, case study analysis, feedback and revision.

104 hours contact time will engage students with 52 hours of formal lectures/large group activity and 52 hours of workshops in which students will engage with a mix of lectures/tutorials/large and small group activities, including presentations and peer assessment and undertake formative assessment.

The increased contact hours above the University standard are to provide essential learning opportunities to gain appropriate level of attainment for Professional Body exemptions.

The number of study hours for this module is 350 hours to meet the Professional Body accreditation requirements

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 students self-directed study time. The latter will include visiting corporate web sites to support the knowledge acquired.

Melville A, (2017). International Financial Reporting A Practical Guide. 6th Edition Pearson. ISBN 978-1-292-20074-3
Bragg S.M, (2011). IFRS Made Easy. Wiley. ISBN 978-0-470-89070-7

Module study guide
The University Library and Learning Resources – books and academic journals
The module VLE
Electronic data bases
Learning support materials
Internet

You will learn how to apply accounting standards, theoretical frameworks and principles to a range of financial statements including a statement of financial position and a statement of cash flow which conforms with international accounting standards. You will also explore the application of financial statements interpretation, group accounts preparation through case studies.