Aims

The module will allow students to:

1. Apply the requirements of international financial reporting standards to the preparation of single
company and consolidated financial statements. Propose and justify the most appropriate accounting
treatment for given scenarios.

2. Identify and critically evaluate the choices that specific international financial reporting
standards make available and the potential misuse of such choices for earnings management
purposes.

3. Describe and apply the main features of the UK Corporate Governance Code.

4. Identify ethical threats and evaluate appropriate actions and safeguards to mitigate those threats.

5. Describe and critically evaluate the benefits and implications of integrated reporting and
sustainability accounting within a corporate accountability framework.

Outline Of Syllabus

1. Company financial statements

2. The frameworks of financial reporting

3. Contemporary issues in accounting            

4. Consolidated accounting issues

Teaching Rationale And Relationship

Lecture materials introduce the course material to students. Students are given a programme of required reading to supplement the lecture materials and are also encouraged to read round the subject as widely as possible.

Students also receive individual question practice and discussion topics to be completed prior to the synchronous small group seminars. The small group seminars serve two functions:

1. To consolidate the numerical part of the course material by allowing students to tackle problems in a small group environment, where the seminar leader is on hand to provide explanations and give extra help as required.
2. To encourage discussion of issues in normative and positive accounting theory. Students are required to discuss these issues in small teams and to present their findings to the rest of the class, thus developing oral communication skills. The programme of seminar work helps students to develop problem-solving, numeracy and written communication skills.

Synchronous drop-ins and surgeries provide opportunity for the whole cohort to participate in synchronous Q&A sessions and revision sessions to prepare for the exam.

Discussion boards provide students with the opportunity to share queries with the rest of the cohort and to discuss and explore areas of mutual interest related to the subject matter and module objectives.

Assessment Rationale And Relationship

The formal examination tests students' intended knowledge and skills outcomes, in particular their ability to write succinct essays and solve numerical problems.
In the case of an alternative semester 2 assessment (worth 100% of the overall module mark) being necessary due to circumstances, the module leader will in the first instance consult with the DPD as to the requirements of the professional accrediting body to discuss possible acceptable alternatives.