ACM010: International Financial Accounting

Module code: ACM010

Module provider: Business Informatics, Systems and Accounting; Henley Business School

Credits: 20

Level: 7

When you'll be taught: Semester 1

Module convenor: Dr Ronita Ram, email: ronita.ram@henley.ac.uk

Pre-requisite module(s):

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded:

Placement information: NA

Academic year: 2024/5

Available to visiting students: No

Talis reading list: No

Last updated: 19 November 2024

Overview

Module aims and purpose

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 and related accounting standard setting debates.

Module learning outcomes

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

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

2. Explain the preparation, presentation, measurement and meaning of the primary financial statements and their contents and draft such statements,Ìý as well as undertake their analysis.Ìý

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

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

Module content

• Usefulness and objectives of financial reporting – conceptual framework of financial reporting
• Implications of the internationalization of accounting practiceÌý
• 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
• A cash flow statement
• Analysing and interpreting financial statements – financial ratiosÌý
• Basis of corporate governance, regulatory framework of the financial reportingÌý
• Various theoretical and/or topical aspects of financial accountingÌý

Structure

Teaching and learning methods

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

1. Describe, explain and apply the key elements of the conceptual framework for international decision-useful financial reporting.

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

3. Undertake an analysis of financial statements.

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

5. State and explain various theoretical and/or topical aspects of financial accounting and critically appraise their contributions to the current financial reporting and practice.

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

Study hours

At least 36 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 50% to pass this module.

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Summative assessment

Penalties for late submission of summative assessment

The Support Centres will apply the following penalties for work submitted late:

Assessments with numerical marks

• where the piece of work is submitted after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for that piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: /cqsd/-/media/project/functions/cqsd/documents/qap/penaltiesforlatesubmission.pdf

You are strongly advised to ensure that coursework is submitted by the relevant deadline. You should note that it is advisable to submit work in an unfinished state rather than to fail to submit any work.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Reassessment

Additional costs