AC216-International Corporate Financial Reporting

Module Provider: Henley Business School
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn term module
Pre-requisites: AC105A Introductory International Financial Accounting A and AC105B Introductory International Financial Accounting B or AC101 Introduction to Accounting or AC104 Introductory Financial Accounting
Non-modular pre-requisites:
Modules excluded:
Module version for: 2016/7

Module Convenor: Mrs Julie Cooper


Summary module description:
This module looks closely at the content and application of range of international financial reporting standards. The module is designed for students following a range of degree programmes who already have prior knowledge of financial accounting.

This module is delivered at University of Reading and Beijing Institute of Technology.

This module aims to develop and add to the knowledge, understanding and skills of financial accounting and reporting acquired on the level 4 modules Introductory International Financial Accounting A and B or (AC105a and C105b) and Introduction to Financial Accounting (A101). The module focuses on the technical and conceptual requirements of the regulatory framework for financial reporting.

Assessable learning outcomes:
By the end of the module it is expected that students will be able to:
1. Describe, explain and discuss aspects of the regulatory framework affecting the preparation of financial statements.
2. Describe, explain and apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting.
3. Describe, explain, apply and discuss the contents of a number of selected International Financial Reporting Standards (IFRS)
4. Prepare a complete set of financial statements from accounting data for single entities in conformity with IFRS.
5. Display evidence of the professional skills of assimilating and using information and structuring problems and solutions; and organise

Additional outcomes:
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, including reflective, adaptive and collaborative learning.

Outline content:
The regulatory and conceptual framework of financial reporting; the presentation and preparation of single entity financial statements; specific techniques and regulation, including reporting financial performance; accounting for tangible non-current assets; intangible assets; impairment of assets; revenue and inventories; provisions, contingencies and events after the reporting period.

Brief description of teaching and learning methods:
Lecture/workshops will be used for the exposition of the main concepts, principles and techniques associated with the discipline. Separate workshops will focus on numerical practice and discussion of examination style questions.

Contact hours:
  Autumn Spring Summer
Lectures 22 2
Practicals classes and workshops 18
Guided independent study 158
Total hours by term 198.00 2.00
Total hours for module 200.00

Summative Assessment Methods:
Method Percentage
Written exam 80
Class test administered by School 20

Other information on summative assessment:
Students will complete one in-class test.

Formative assessment methods:

Penalties for late submission:
The Module Convenor will apply the following penalties for work submitted late, in accordance with the University policy.

  • where the piece of work is submitted up to one calendar week after the original deadline (or any formally agreed extension to the deadline): 10% of the total marks available for the piece of work will be deducted from the mark for each working day (or part thereof) following the deadline up to a total of five working days;
  • where the piece of work is submitted more than five working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

  • The University policy statement on penalties for late submission can be found at:
    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.

    Length of examination:
    One 2.5 hour unseen written paper with a weight of 80% in the overall assessment of the degree to be held during the May/June examination period.

    Requirements for a pass:
    A minimum mark of 40% is required for a University pass.

    Reassessment arrangements:
    Re-examination takes place in September of the same year. Reassessment is by examination only.

    Additional Costs (specified where applicable):
    1) Required text books: J. Maynard, Financial accounting, reporting and analysis, Oxford University Press, 1st ed. 2013 978-0-19-960605-4 £45.99 (2015-16 price)
    2) Specialist equipment or materials:
    3) Specialist clothing, footwear or headgear:
    4) Printing and binding:
    5) Computers and devices with a particular specification:
    6) Travel, accommodation and subsistence:

    Last updated: 21 December 2016

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