BMM6552 - Financial Reporting

Objectives:

On successful completion of the module, students will be able to:
Discuss and apply a conceptual framework for financial reporting.
Discuss regulatory frameworks for financial reporting, across commercial, specialised, not-for-profit and public sector entities.
Devise and present financial statements which conform with UK GAAP and international accounting standards and requirements of regulatory and state authorities (including taxation authorities).
Account for business combinations, in accordance with international accounting standards, including preparation of consolidated financial statements.
Analyse and interpret financial statements, report financial performance, including calculation of accounting ratios and trends to address stakeholder needs.

Content:

This module introduced students to a range of advanced key topics in financial reporting, including the need for a conceptual reporting framework, concepts of understandability, relevance, veracity, reliability and comparability, legal and commercial requirements of financial statements and reporting to stakeholders, concept of 'faithful representation', regulatory frameworks, IFRS, IASB and GAAP, role of accounting bodies. Students will also focus on the preparation and interpretation of financial statements, including provisions, contingent liabilities and contingent assets, taxation and corporation tax computations. This module will also introduce aspects of reporting for multi entity companies, due diligence and reporting for merger and acquisition, regulatory requirements for reporting financial performance, the concept and preparation of consolidated financial statements, limitations of financial statements, calculation and use of accounting ratios and limitations of interpretation techniques, and variant sector entities.

Learning and Teaching Information:

The module will be delivered via a series of weekly 3-hour whole-group interactive lectures supported by tutorial/workshop sessions. Questions/exercises will be set at each lecture meeting for students to complete before the next session.

Students will be provided with, and/or directed to, relevant reading and additional questions/ exercises to support their progress through the module material. There will be a particular pedagogical focus on pair work and small group tasks, with elements of formative peer assessment and feedback (verbally and in writing).

Lecture/Seminars
Contact hours: 30
Intended Group size: Cohort

Workshops/Tutorials
Contact hours: 10
Intended Group size: Cohort or variable sized groups

Guided Independent Study
Hours: 160

Further details relating to assessment
Written examination: Accounting and finance module are assessed by closed book examinations to meet the requirements of ACCA as accrediting external professional body. Exams consist of questions based on a number of 'real life' case studies and are designed to enable candidates to demonstrate knowledge, understanding and skills related to module content, as well as analytical and evaluative skills required for professional practice.

Assessment:

001 Written exam; 3 hours; end of semester 2 100%

Fact File

Module Coordinator - Andrew Gilliland
Level - 6
Credit Value - 20
Pre-Requisites - NONE
Semester(s) Offered - 6S2

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