Unit information: Financial Reporting in 2014/15

Unit name	Financial Reporting
Unit code	ACCG30012
Credit points	20
Level of study	H/6
Teaching block(s)	Teaching Block 4 (weeks 1-24)
Unit director	Professor. Ellwood
Open unit status	Not open
Pre-requisites	EFIM20001 Financial Accounting 2
Co-requisites	None
School/department	School of Economics, Finance and Management
Faculty	Faculty of Social Sciences and Law

Description including Unit Aims

The first part of the unit builds on group accounting and introduces more complex structures. We examine how standard setters have addressed the part played by structured entities in recent scandals and the convergence in approach to group accounting. The diversity across financial reporting systems is examined and the move towards harmonization. We then take a closer look at accounting theory and perspectives of financial reporting before concluding with some advanced accounting issues (e.g. deferred tax and financial instruments).

Intended Learning Outcomes

On successful completion the students will:

• understand advanced accounting issues such as complex structures, financial instruments and deferred tax and how they are addressed by standard setters;

• have a detailed knowledge of IFRS, be familiar with reporting systems in different countries and aware of the moves towards accounting harmonization;

• be able to display an awareness of earnings management and the need for regulation;

• understand the role of conceptual frameworks and the different approaches to value measurement including fair value;

• be able to evaluate the accounting approaches for public benefit entities and related issues; and

• be able to explain approaches to corporate social and environmental accounting.

Teaching Information

Lectures & tutorials

Assessment Information

summative piece due in the Jan assessment period 20%; June exam 80%

Reading and References

Elliott & Elliott (2012) Financial Accounting and Reporting, Fifteenth Edition, FT Prentice Hall ISBN 0-273-76088-2

Supplemented by readings (academic journals, material produced by professional bodies and standard setters plus copies of published accounting statements).