Module Descriptors
FINANCIAL REPORTING AND AUDIT
ACCT60284
Key Facts
Digital, Technology, Innovation and Business
Level 6
30 credits
Contact
Leader: Mayowa Akinbote
Email: mayowa.akinbote@staffs.ac.uk
Hours of Study
Scheduled Learning and Teaching Activities: 60
Independent Study Hours: 240
Total Learning Hours: 300
Assessment
- Assignment weighted at 50%
- Examination unseen in examination conditions weighted at 50%
Module Details
ASSESSMENT DETAILS
Semester 1
An individual assignment length 2,500 words weighted at 50% Tests Learning Outcomes 1 and 2
The assignment requires students to challenge aspects of the current Reporting Regulation Framework.
Semester 2
An examination length 2 hour(s) weighted at 50% Tests Learning Outcomes 3 and 4
An individual assignment length 2,500 words weighted at 50% Tests Learning Outcomes 1 and 2
The assignment requires students to challenge aspects of the current Reporting Regulation Framework.
Semester 2
An examination length 2 hour(s) weighted at 50% Tests Learning Outcomes 3 and 4
INDICATIVE CONTENT
Financial Reporting
This module develops your knowledge and understanding of Advanced Financial Accounting through the application of the regulatory framework.
You will begin by examining the conceptual framework, the evolution of the regulatory framework within the UK and international standards.
You will further the development of your skills in the preparation of published accounts and go on to study equity liability, asset measurement, disclosure and corporate governance.
Audit
You will then consider the civic environment and legal framework within which the audit is conducted. Concentrating on ethics, independence, regulations and fraud
The concepts, principles and techniques of auditing will be explored. This will include the stages in the audit processes; Audit Planning and control, Internal controls and compliance testing, Substantive testing, Computer controls, Audit Opinion and report.
This module develops your knowledge and understanding of Advanced Financial Accounting through the application of the regulatory framework.
You will begin by examining the conceptual framework, the evolution of the regulatory framework within the UK and international standards.
You will further the development of your skills in the preparation of published accounts and go on to study equity liability, asset measurement, disclosure and corporate governance.
Audit
You will then consider the civic environment and legal framework within which the audit is conducted. Concentrating on ethics, independence, regulations and fraud
The concepts, principles and techniques of auditing will be explored. This will include the stages in the audit processes; Audit Planning and control, Internal controls and compliance testing, Substantive testing, Computer controls, Audit Opinion and report.
LEARNING OUTCOMES
1. UNDERSTAND AND CRITICALLY APPRAISE THE FINANCIAL REPORTING SYSTEMS ADOPTED BY UK COMPANIES IN ACCORDANCE WITH UK GAAP AND INTERNATIONAL STANDARDS
Analysis
Communication
Knowledge & Understanding
3. SHOW CRITICAL AWARENESS AND UNDERSTANDING OF THE EVOLVING ROLE OF CORPORATE GOVERNANCE AND AUDIT COMMITTEES
Analysis
Application
Communication
Learning
4. CRITICALLY EVALUATE KEY AUDIT NOTIONS, ASSUMPTIONS AND ARGUMENTS
Analysis
Communication
Knowledge & Understanding
2. DEMONSTRATE A CRITICAL UNDERSTANDING OF CONFLICTING, CONTRADICTORY CONCEPTS EMBEDDED WITHIN THE CURRENT REGULATORY FINANCIAL REPORTING FRAMEWORK.
Analysis
Analysis
Communication
Knowledge & Understanding
3. SHOW CRITICAL AWARENESS AND UNDERSTANDING OF THE EVOLVING ROLE OF CORPORATE GOVERNANCE AND AUDIT COMMITTEES
Analysis
Application
Communication
Learning
4. CRITICALLY EVALUATE KEY AUDIT NOTIONS, ASSUMPTIONS AND ARGUMENTS
Analysis
Communication
Knowledge & Understanding
2. DEMONSTRATE A CRITICAL UNDERSTANDING OF CONFLICTING, CONTRADICTORY CONCEPTS EMBEDDED WITHIN THE CURRENT REGULATORY FINANCIAL REPORTING FRAMEWORK.
Analysis
RESOURCES
The University Library and learning resources
Electronic databases such as EBSCO, BIDS
Web sites of UK CCAB Accounting Bodies
Web sites of International Accounting Bodies
The module website
Electronic databases such as EBSCO, BIDS
Web sites of UK CCAB Accounting Bodies
Web sites of International Accounting Bodies
The module website
SPECIAL ADMISSIONS REQUIREMENTS
FOR INTERNATIONAL PARTNERS ONLY
TEXTS
Financial Reporting
Elliott B and Elliott J, 2005,Financial Accounting and Reporting, 9th Edition, Prentice Hall. ISBN 0-273-69381-6
Audit
Power, M, 2001, Audit Society, Oxford University Press
Gray I and Manson S (2007) The Audit Process: Principles, Practices and Cases, Thompson
Elliott B and Elliott J, 2005,Financial Accounting and Reporting, 9th Edition, Prentice Hall. ISBN 0-273-69381-6
Audit
Power, M, 2001, Audit Society, Oxford University Press
Gray I and Manson S (2007) The Audit Process: Principles, Practices and Cases, Thompson
Learning Strategies
The learning strategy for this module is based around students committing a total of 300 hours of activities towards achieving the learning outcomes. These will be split between 78 hours of direct contact with a tutor and 222 hours of directed, guided and self-study, together with preparation for and completion of the assessment tasks. Learning support material will be provided for the module.
The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.
The module will draw upon a mixture of activities including lectures, web-based activities, case study analysis, relevant videos and in-class discussions, individual and group problem solving and self-directed learning.