Understand and critically evaluate the role of the International Financial Reporting Standards (IFRSs) for financial reporting.

Analysis, Enquiry & Learning

Prepare, present and analyse statements of cash flows which conform with international accounting standards.

Analysis, Knowledge, Understanding & Analysis

Prepare and present accounts for business combinations in accordance with international accounting standards.

Application, Communication, Knowledge & Problem Solving

Reflect on accounting international standards associated with specific areas of accounting.

Understanding & Reflection

1. On-line Test (1 hour) 20% (LO 1 & 2))

2. Written Exam (2 hours) plus 10 mins reading time (80%) (LOs 2, 3 & 4)

You will learn how to apply accounting standards, theoretical frameworks and principles to a range of financial statements.

IAS 36 – Impairment of Assets, indications of impairment, recoverable amount, recognition and measurement of an impairment loss, Cash-generating units, reversal of impairment losses. IAS 17 – Leases, classification of leases, accounting for operating leases, accounting for finance leases. Accounting for sale and leaseback agreements. Recognition of a provision, distinguishing between legal and constructive obligations, measurement of a provision, application of the recognition and measurement rules. IAS 38 – Intangible Assets, the definition of an intangible asset, distinguish between goodwill and other intangible assets, initial recognition and measurement of intangible assets.



IAS 27 Consolidated & Separate Financial Statements. IFRS 3 – Business Combinations. IFRS 10 – Consolidated Financial Statements, the requirement to prepare consolidated financial statements, the group statement of financial position at the date of acquisition, the group statement of financial position in subsequent years, partly-owned subsidiaries, preference shares, elimination of intra-group balances, unrealised profits, reporting date and accounting policies, group statement of comprehensive income, group statement of changes in equity, subsidiary acquired partway through an accounting period. IAS 28 – Investment in Associates and Joint Ventures, associates and significant influence, the equity method. application of the equity method



IAS 7 – Statement of Cash Flows, cash and cash equivalents, classification of cash flows by activity, interest, dividends and taxes, reporting cash flows from operating activities, distinguish between the primary aims of not-for-profit and public sector entities and those of profit-oriented entities, the extent to which International Financial Reporting Standards (IFRSs) are relevant to specialise, not-for-profit and public sector entities.

You will build on the financial reporting knowledge apply accounting standards, theoretical frameworks and principles to business combinations financial statements which conforms with international accounting standards.

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



48 hours of contact time will engage students with 26 hours of formal lectures/large group activity and 26 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 number of study hours for this module is 200 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 websites to support the knowledge acquired.



In-class sessions play a crucial role in the learning process, where formative assessments are essential for providing ongoing feedback to both students and the teaching team. Examples of formative assessments include quizzes, class exercises, draft submissions, and peer reviews, all of which help gauge students' understanding of the course material. These assessments enable instructors to identify areas where students may need additional support and adjust teaching strategies as needed. This practical implementation ensures that even in a remote learning environment, students receive the necessary support and preparation for their summative assessments.



Feedback and feedforward on this module in the dual award program would follow the steps implemented:

Cross-Institution Moderation: Implement a moderation process where a sample of feedback from both institutions is reviewed collaboratively. This allows for adjustments to be made to ensure that the quality and tone of feedback are aligned.

Structured Feedforward: Both institutions would follow a consistent approach to feedforward, providing clear, actionable advice on how students can improve in future assessments. This helps students apply feedback effectively across all their modules.

Melville A, (2022). International Financial Reporting A Practical Guide. 8th Edition Pearson. ISBN-13: 9781292439433

Bragg S.M, (2011). IFRS Made Easy. Wiley. ISBN 978-0-470-89070-7

Online resources will be used, as appropriate, such as:

Websites of International Accounting Bodies

Module study guide and handbook

The University Library and Learning Resources - books and academic journals

The module VLE

Learning support materials and booklets

Internet

Microsoft Office Excel

Microsoft Office PowerPoint

Computer-based quizzes