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 a regulatory framework for financial reporting, across commercial, specialised, not-for-profit and public sector entities;
Prepare and present financial statements which conform with 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:

Need for a conceptual framework, concepts of understanding, relevance, reliability and comparability, legal and commercial views of accounting, concept of ‘faithful representation’, regulatory frameworks and GAAP, preparation of financial statements (including provisions), contingent liabilities and contingent assets), taxation, 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, variant sector entities.

Learning and Teaching Information:

The module will be delivered via a series of weekly one-hour whole-group interactive lectures supported by weekly one-hour small group tutorial / workshop sessions. Questions / exercises will be set at each lecture meeting for students to complete before the associated small group session. Students will be provided with, and /or directed to, relevant reading and additional questions / exercises to support their progress through the module material

Lecture
Contact hours: 15
Intended Group size: Cohort

Tutorial/ workshops
Contact hours: 15
Intended Group size: 6-8

Guided Independent Study
Hours: 170

Further details relating to assessment
Marginal condonement of failure is allowed for this module within the degree programme but no marginal condonement of failure is allowed in relation to ACCA exemptions.

Assessment: