Financial Accounting and Reporting 2
| Code | School | Level | Credits | Semesters |
| BUSI2052 | Business | 2 | 20 | Autumn UK |
- Code
- BUSI2052
- School
- Business
- Level
- 2
- Credits
- 20
- Semesters
- Autumn UK
Summary
Reporting framework, concepts and ethics, preparation of single entity and consolidated financial statements, application of International Financial Reporting Standards
Target Students
BSc Hons Accountancy students.
Classes
- One 2-hour seminar
- One 2-hour seminar
- Ten 1-hour-30-minute lectures each week for 2 weeks
Activities may take place every teaching week of the Semester or only in specified weeks. It is usually specified above if an activity only takes place in some weeks of a Semester 20 ninety-minute lectures and 3 two hour seminars. Taught as a block around the second placement in Autumn semester year 3 of the programme. This module is taught as a block module. All lectures (20 x 90 mins) are delivered over a two-week period. One seminar is delivered during the two-week block and the other two seminars are delivered in a single week in January. Delivered fully online in semester 1, 2 x 1 hour live sessions in the week before the exam. Normally delivered as block teaching in first 2 weeks of September.
Assessment
- 100% Exam 1 (3-hour): Examination (ICAEW accredited) Reassessment of this module is 100% exam
Assessed by end of autumn semester
Educational Aims
The aim of this Financial Accounting and Reporting 2 module is to ensure that students build upon their year 1 and 2 study of Financial Accounting and Reporting. They will be able to prepare single entity financial statements, and extracts from those financial statements, covering a wider range of International Financial Reporting Standards (IFRS) including those relating to leases, borrowing costs and related parties; and should be able to explain accounting and reporting concepts and ethical issues, and the application of specified IFRS to a given single entity.It will also develop the understanding of group accounting principles from year 2 in preparing consolidated financial statements and address issues arising from group accounting including fair values, intangibles and impairment.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
• Some of the alternative technical languages and practices of accounting
• 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 contexts and the ability to critically evaluate such theories and evidence
Intellectual skills
This module develops:
• The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
• Conceptual and critical thinking, analysis, synthesis and evaluation
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:
• Communication and listening including the ability to produce clear, structured business communications in a variety of media