Financial Accounting and Reporting 1
| Code | School | Level | Credits | Semesters |
| BUSI2039 | Business | 2 | 20 | Spring UK |
- Code
- BUSI2039
- School
- Business
- Level
- 2
- Credits
- 20
- Semesters
- Spring UK
Summary
Reporting framework, concepts and ethics, preparation of single entity and simple consolidated financial statements
Target Students
BSc Hons Accountancy students.
Classes
- One 1-hour workshop each week for 4 weeks
- One 2-hour lecture each week for 15 weeks
15 two-hour lectures and 4 one-hour timetabled workshops (remaining content to be delivered online). Please note all non-lectures will be timetabled in the Business School
Assessment
- 100% Exam (3-hour): An invigilated examination, ICAEW accreditedReassessment of this module is 100% exam.
Assessed by end of spring semester
Educational Aims
The aim of this Financial Accounting and Reporting module is to ensure that students build upon the year 1 Fundamentals ofFinancial and Management Accounting module and understand a wider range of International Financial Reporting Standards. They will be able to prepare single entity financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS); basic consolidated financial statements and should be able to explain accounting and reporting concepts and ethical issues, and the application of specified IFRS to a given single entity.Learning Outcomes
Knowledge and Understanding
This module develops a knowledge and understanding of:
• The main current technical language and practices of accounting in a specified socio-economic domain
• The sources, uses and management of finance
• The use of accounting and other information systems for planning, control, and decision making
• Skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business financial analysis and projections
• Contemporary theories and empirical evidence concerning accounting in at least one of its contexcts and the ability to critically evaluate such theories and evidence
• The development of appropriate policies and strategies within a changing environment to meet stakeholder interests
Professional practical skills
This module develops:
• Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena
Transferable (key) skills
This module develops:
• Articulating and effectively explaining information