BMM6015 - Financial Reporting

Objectives:

Assessment tasks are designed to enable students to demonstrate the Learning and Employability outcomes for the relevant level of study. Level Learning Outcomes are embedded in the assessment task(s) at that level. This enables a more integrated view of overall student performance at each level.

Content:

- Need for and use of a conceptual framework and accounting conventions in reporting context (including financial pathway evaluation and risk).
- IFRS: concepts of understanding, relevance, reliability and comparability.
- External and Internal Audit requirements and frameworks.
- Legal and commercial views of accounting, concept of ‘faithful representation’, other regulatory frameworks and GAAP.
- Preparation of financial statements (including provisions), recognising contingent liabilities and contingent assets and taxation.
- Regulatory requirements for reporting financial performance.
- The concept of consolidated financial statements.

Learning and Teaching Information:

Lectures
Hours: 20
Intended Group Size: Cohort

Workshops
Hours: 4
Intended Group Size: Cohort

Seminars
Hours: 6
Intended Group Size: Cohort

Guided independent study
Hours: 120

Further Details Relating to Assessment
Assessment tasks are designed to measure the extent to which you have satisfied the Level Learning Outcomes for your programme. Some modules, for example where there are professional body (PSRB) requirements, will also test for module-specific skills and knowledge.

The exam will consist of one multi-part compulsory case-based question which will involve producing a Tax computation and Income Statement to standard form, followed by a choice of two from three essay questions. Together the questions will cover the full range of topics taught in the module and some questions will cross over into more than one topic area. Effective exam technique, as well as revision, will be required in order to maximise performance. A range of past questions and revision broadcasts can also be found on Moodle and these will become available to students as the module progresses.

Formative assessment is built into the module programme through the use of interactive exercises during sessions, using ‘hot spot’ and ‘tennis ball’ Q&A sessions and longer group and individual exercises which follow every taught session. These exercises are largely based on current issues In Financial Reporting and act as a catalyst for student investigation and research. Workshop questions are based on exam exercises, with an element of peer support and assessment through groupwork. A full trial examination is scheduled for week 10.

The use of a terminal unseen examination to cover K1-4 is a requirement of ACCA accreditation of the BA Accounting and Business programme.

Full details of the assessment are contained within the Module Handbook.

Assessment:

001 Closed Book Examination; 3 hrs; End of sem 1 100%

Fact File

Module Coordinator - PRS_CODE=
Level - 6
Credit Value - 15
Pre-Requisites - NONE
Semester(s) Offered - 6S1

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