Module Descriptors
AUDITING AND FINANCIAL REPORTING
ACCT60289
Key Facts
School of Justice, Security and Sustainability
Level 6
30 credits
Contact
Leader: Anthony Bickley
Email: A.J.Bickley@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 and disclosure.
Audit
You will then consider the civic environment and legal framework within which the audit is conducted. Concentrating on ethics, independence, regulations, fraud and environmental auditing.
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 and disclosure.
Audit
You will then consider the civic environment and legal framework within which the audit is conducted. Concentrating on ethics, independence, regulations, fraud and environmental auditing.
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 COMPANIES IN ACCORDANCE WITH INTERNATIONAL STANDARDS
Analysis
Communication
Knowledge & Understanding
3. DEMONSTRATE A SYSTEMATIC UNDERSTANDING OF AUDIT REQUIREMENTS AND TECHNIQUES
Application
Communication
Learning
4. CRITICALLY EVALUATE KEY AUDIT NOTIONS, ASSUMPTIONS AND ARGUMENTS
Communication
Reflection
2. DEMONSTRATE A CRITICAL UNDERSTANDING OF CONFLICTING, CONTRADICTORY CONCEPTS EMBEDDED WITHIN THE CURRENT REGULATORY FINANCIAL REPORTING FRAMEWORK.
Analysis
Analysis
Communication
Knowledge & Understanding
3. DEMONSTRATE A SYSTEMATIC UNDERSTANDING OF AUDIT REQUIREMENTS AND TECHNIQUES
Application
Communication
Learning
4. CRITICALLY EVALUATE KEY AUDIT NOTIONS, ASSUMPTIONS AND ARGUMENTS
Communication
Reflection
2. DEMONSTRATE A CRITICAL UNDERSTANDING OF CONFLICTING, CONTRADICTORY CONCEPTS EMBEDDED WITHIN THE CURRENT REGULATORY FINANCIAL REPORTING FRAMEWORK.
Analysis
LEARNING STRATEGIES
The learning strategy for the module requires students to commit 300 learning hours (including assessment) of this there will be 60 hours of class support and 240 hours of independent and self directed study. Support will also be given by access to Scheduled Tutor Office Hours to support the module.
12 hours of lectures/large group based activity
24 hours of formal lectures
24 hours of tutor led activity - workshops and case study activity
12 hours of lectures/large group based activity
24 hours of formal lectures
24 hours of tutor led activity - workshops and case study activity
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 COLLABORATIVE PARTNERS ONLY
TEXTS
Gray I and Manson S (2015) The Audit Process: Principles, Practices and Cases. Thompson 6th edition (ISBN 978-1-4080-8170-9)
Millichamp, A. & Taylor J. (2012) Auditing. Cengage Learning 10th edition (ISBN 978-1-4080-4408-7)
Melville, A (2015) International Financial Reporting – A Practical Guide, fifth edition FT Prentice Hall ISBN: 978-1-2920-8623-1
Millichamp, A. & Taylor J. (2012) Auditing. Cengage Learning 10th edition (ISBN 978-1-4080-4408-7)
Melville, A (2015) International Financial Reporting – A Practical Guide, fifth edition FT Prentice Hall ISBN: 978-1-2920-8623-1