ACCT08031 2022 Financial Reporting 6
Full Title
Financial Reporting 6
Transcript Title
Financial Reporting 6
Code
ACCT08031
Attendance
N/A %
Subject Area
ACCT - 0411 Accounting & Taxation
Department
BUS - Business
Level
08 - Level 8
Credit
05 - 05 Credits
Duration
Semester
Fee
€
Start Term
2022 - Full Academic Year 2022-23
End Term
9999 - The End of Time
Author(s)
Caroline McNulty, Aileen Brennan, Helen Grady
Programme Membership
SG_BACCO_H08 202200 Bachelor of Arts (Honours) in Accounting
SG_BACOO_H08 202300 Bachelor of Arts (Honours) in Accounting
SG_BACCO_K08 202300 Bachelor of Business (Honours) in Business with Accounting
Description
The aim of the module is to develop knowledge and skills in understanding and applying IFRS and the theoretical framework in the preparation of financial statements of entities, including groups, and how to analyse and interpret those financial statements.
Learning Outcomes
On completion of this module the learner will/should be able to;
1.
Discuss conceptual and regulatory frameworks for financial reporting
2.
Identify emerging trends and disruptive technologies in financial reporting
3.
Account for transactions in accordance with IFRS
4.
Prepare and present financial statements for business combinations in accordance with IFRS
5.
Analyse financial statements.
Teaching and Learning Strategies
The student will engage with the content of the module through pre-lecture reading, informative video presentations, lectures and quizzes.
The student will develop an understanding of module content through technical articles and use of software applications to complete and review examples.
The student will apply their learning through completion of practical exercises.
Module Assessment Strategies
Objective test and final examination
Repeat Assessments
Objective test and / or final examination
Module Dependencies
Prerequisites
ACCT08033 201600 Financial Reporting 5
Incompatibles
ACCT08032 202200 Financial Accounting 8
Indicative Syllabus
LO1 - Discuss conceptual and regulatory frameworks for financial reporting
- Describe concepts and principles of groups and consolidated financial statements
- Explore the role of the International Integrated Reporting Council (IIRC)
- Explain integrated thinking
- Discuss the International Framework
LO2 – Identify emerging trends and disruptive technologies in financial reporting
- Describe current technology trends including big data, blockchain, machine learning and artificial intelligence
- Discuss the potential impact of emerging trends and technologies on the accounting function
LO3 - Account for transactions in accordance with IFRS
- Account for transactions in financial statements including financial instruments, provisions and events after the reporting period, reporting financial performance and revenue
LO4 - Prepare and present financial statements for business combinations in accordance with IFRS
- Prepare consolidated financial statements including an associate
LO5 - Analyse financial statements
- Discuss limitations of financial statements
- Calculate and interpret accounting ratios
- Analyse ratios and trends to address user and stakeholder needs
- Explain the limitations of interpretation techniques
Coursework & Assessment Breakdown
Coursework & Continuous Assessment
20 %
End of Semester / Year Formal Exam
80 %
Coursework Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Objective testing | Coursework Assessment | Assessment | 20 % | Week 8 | 1,2,3 |
End of Semester / Year Assessment
| Title | Type | Form | Percent | Week | Learning Outcomes Assessed | |
|---|---|---|---|---|---|---|
| 1 | Written test | Final Exam | Closed Book Exam | 80 % | End of Term | 1,2,3,4,5 |
Full Time Mode Workload
| Type | Location | Description | Hours | Frequency | Avg Workload |
|---|---|---|---|---|---|
| Independent Learning | UNKNOWN | Personal study | 3 | Weekly | 3.00 |
| Lecture | Flat Classroom | Lecture | 1 | Weekly | 1.00 |
| Lecture | Flat Classroom | Lecture | 1 | Weekly | 1.00 |
| Lecture | Flat Classroom | Lecture | 1 | Weekly | 1.00 |
| Lecture | Flat Classroom | Lecture | 1 | Weekly | 1.00 |
Total Full Time Average Weekly Learner Contact Time 4.00 Hours
Required & Recommended Book List
Required Reading
2021 FINANCIAL REPORTING - STUDY TEXT.
ISBN 1787408604 ISBN-13 9781787408609
2021 FINANCIAL REPORTING - STUDY TEXT.
ISBN 1787408604 ISBN-13 9781787408609
Recommended Reading
2019 International Financial Reporting 7th Edition
ISBN 1292293128 ISBN-13 9781292293127
2019 International Financial Reporting 7th Edition
ISBN 1292293128 ISBN-13 9781292293127
International Financial Reporting delivers a focused, user-friendly introduction to international financial reporting and how to implement the IASB standards for undergraduate students.
Recommended Reading
2018 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING.
ISBN 1912350025 ISBN-13 9781912350025
2018 INTERNATIONAL FINANCIAL ACCOUNTING AND REPORTING.
ISBN 1912350025 ISBN-13 9781912350025
Recommended Reading
2022 Financial Accounting and Reporting Pearson Education Limited
2022 Financial Accounting and Reporting Pearson Education Limited
Module Resources
Non ISBN Literary Resources
The core text for this module is: Kaplan (Current Year) Financial Reporting - Study Text.
URL Resources
IFRS website for accounting standards, technical summaries, interpretations and news updates
https://www.ifrs.org/
Other professional body websites for student resources:
https://www.accaglobal.com/ie/en.html
https://www.charteredaccountants.ie/
https://www.cimaglobal.com/Our-locations/Ireland/
https://www.cpaireland.ie/
Other Resources
Module Moodle page
Relevant articles from professional journals available through the above professional body websites