MMM062-International Financial Reporting 1

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Autumn term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2020/1

Email: ronita.ram@henley.ac.uk

Type of module:

Summary module description:

This module develops students’ knowledge and understanding of International Financial Reporting Standards and the relevant regulatory and institutional framework of financial accounting.Ìý

Aims:

This module aims to develop students’ critical knowledge and understanding of decision-useful investor-related financial reporting via a consideration of the principles and methods that underlie the preparation and presentation of the main financial statements in an international context. It also introduces students to the regulatory and institutional infrastructure of the financial reporting.Ìý

Assessable learning outcomes:

By the end of the module is it expected that the student will be able to:Ìý

1. Describe and explain the key elements of the international regulatory framework for international decision-useful financial reporting.Ìý


2. Describe, explain and apply the key elements of the conceptual framework for internationalÌýdecision-useful financial reporting.


3. Explain the preparation, presentation, measurement and meaning of the primary financial statements and their contents and draft such statements.


4. Undertake an analysis of financial statements.


5. State, explain, apply and critically appraise the contents of a range of international financial reporting standards.


6. Analyse, summarise, synthesise and evaluate selected relevant academic and professional literature.

Additional outcomes:

Students should gain improved ability to understand the nature of accounting, even that in their own countries. The module also aims to encourage the development of oral communication skills, and the students’ effectiveness in group situations. Structured activities are designed to develop independent learning skills. Students are encouraged to develop additional IT skills by use of relevant web resources and communication techniques, including Blackboard.Ìý

Outline content:

• Main users and producers of accounting information, financial versus management accountingÌý


• Usefulness and objectives of financial reporting – conceptual framework of financial reporting?Ìý


• Causes of variation between national accounting practicesÌý


• Implications of the internationalization of accounting practiceÌý


• Processing accounting data – from double entry book keeping to final statem ents?Ìý


• Balance sheet (statement of financial position), recognition and valuation of assets and liabilitiesÌý


• Income statement and a statement of comprehensive incomeÌý


• Statement of changes in equity?Ìý


• A cash flow statementÌý


• Corporate reporting, features of a limited companyÌý


• Basis of corporate governance, regulatory framework of the financial reportingÌý

Analysing and interpreting financial statements – financial ratiosÌý

Global context:

Focus on global financial accounting and reporting regulations.Ìý

Brief description of teaching and learning methods:

Lecture/workshops will be used for the exposition of the major concepts, principles and techniques under consideration. Lecture exposition will be interspersed with student driven application.

Summative assessment- Examinations:

2hourÌýclosed book examÌýin the Summer termÌýcovering numerical and discursive elements.Ìý

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Summative assessment- Coursework and in-class tests:

1hourÌýclosed book MCQ class test.

Formative assessment methods:

Formative assessments are available in the text book for all topics. InÌýadditionÌýfurther questions are available on Blackboard and students will practise them in the workshops or will be required to complete them during their self-study time. Marking guides and feedback are provided where appropriate so that students can assess their own performance.Ìý

Penalties for late submission:
Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:
A minimum mark of 50% is required for a University pass.

Reassessment arrangements:

Reassessment byÌýexamination onlyÌýwhich takes place in August/September of the same year.Ìý

Additional Costs (specified where applicable):

Ìý

Last updated: 27 August 2020