AC312-Advanced International Financial Reporting

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Spring term module
Pre-requisites: AC216 International Corporate Financial Reporting or AC206 Financial Accounting or AC202 Corporate Financial Reporting
Non-modular pre-requisites:
Modules excluded: AC305 Financial Accounting and Reporting
Module version for: 2016/7

Module Convenor: Mrs Julie Cooper


Summary module description:
This module looks closely at a number of international financial reporting standards. It also undertakes a critical appraisal of some current and/or theoretical issues in financial reporting. The module is designed for students who have a significant prior knowledge of financial reporting.

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

The module aims to develop and add to the knowledge and understanding, and to the skills of application, analysis, synthesis and evaluation acquired in the Level 5 module International Corporate Financial Accounting. This involves in particular (i) a consideration of the technical and conceptual requirements of the regulatory framework for accounting for groups of companies, as well as other selected advanced topics in financial reporting, and (ii) a more detailed consideration of the theoretical and empirical evidence relating to the interaction of accountancy with regulatory systems and the capital markets.

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

1. Prepare group/consolidated financial statements in a form suitable for publication
2. Describe, explain, apply and critically discuss the contents of a number of International Financial Reporting Standards (IASs)
3. Explain and discuss various theoretical and/or topical aspects of financial accounting and critically appraise their contributions to the current financial accounting reporting and practice
4. Analyse, summarise, synthesise and evaluate academic and professional literature
5. Organise and present information clearly, succinctly and in the required format, both under timed conditions and in assessed work

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 skills.
Students are encouraged to develop additional IT skills by use of relevant web resources and communication techniques, including Blackboard.

Outline content:
1. Preparation of consolidated financial statements
2. Further specific techniques and regulation, for example, accounting for associates and joint ventures; accounting for financial instruments, accounting for leased assets
3. Theoretical and topical issues: for example, the conceptual framework for financial reporting, the standard setting regime, measurement in financial reporting, principles-verses rules-based standards, international accounting differences, convergence of financial reporting

Brief description of teaching and learning methods:
Lectures of two hours per week will be used for the exposition of the major concepts, principles and techniques under consideration. Workshops of two hours duration will be used for student-led presentation, discussion or numerical practice.

Contact hours:
  Autumn Spring Summer
Lectures 20
Tutorials 16
Guided independent study 164
Total hours by term 200.00
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 written in-class assessment.

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.

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

    Reassessment arrangements:
    By examination only (one 2.5 hour unseen written paper) in August/September. Coursework will not be included in the re-assessment.

    Additional Costs (specified where applicable):
    1) Required text books: (actual for 2015-16 and indicative for 2016-17): 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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