AC216-International Corporate Financial Reporting

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Terms in which taught: Autumn term module
Pre-requisites: MM1F27 Business in Practice: Accounting for managers
Non-modular pre-requisites: BEFORE TAKING THIS MODULE YOU MUST TAKE MM1F27
Modules excluded: AC206 Financial Accounting
Current from: 2022/3

Module Convenor: Dr Ekililu Salifu

Type of module:

Summary module description:

This module looks closely at the content and application of a 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, University of Reading Malaysia, 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 module MM1F27-Business in Practice: Accounting for managers. The module also aims to foster in students, an inquiring and critical attitude towards issues in financial accounting and reporting.


Assessable learning outcomes:

On the successful completion 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 and presentation 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 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

6. Demonstrate a critical understanding and awareness of the key debates in modern financial accounting and reporting.

Additional outcomes:

The module also aims to encourage the development of effective communicative skills (both oral and written) and also to support students in enhancing their 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 regulations, 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 20 2
Practicals classes and workshops 16
Guided independent study:      
    Wider reading (independent) 20
    Wider reading (directed) 17
    Exam revision/preparation 45
    Advance preparation for classes 20
    Completion of formative assessment tasks 20
    Group study tasks 20
    Essay preparation 15
    Reflection 5
Total hours by term 0
Total hours for module 200

Summative Assessment Methods:
Method Percentage
Written exam 75
Written assignment including essay 25

Summative assessment- Examinations:

One 150 minutes unseen written paper with a weight of 75% of the overall assessment of the module, to be held during the May/June examination period.

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.


Summative assessment- Coursework and in-class tests:

One group assessment due in Autumn term, Week 10 with a weight of 25% of the overall assessment of the module.

Formative assessment methods:

Formative assessments are available for all weeks of the module to enable students to practice techniques and exam style questions. This work is primarily designed as a learning vehicle, and students will be provided with marking guides and feedback where appropriate so that they can assess their own performance.

Penalties for late submission:

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

  • 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 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.

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

Reassessment arrangements:

Re-assessment via examination only in August of the same year.

Additional Costs (specified where applicable):

Required text books - £47 - Maynard, J., 2017. Financial accounting, reporting, and analysis. Oxford University Press.

Calculator - £15 - Casio FX-83GTx or Casio FX-85GTx

Casio FX-83GTPLUS or Casio FX-85GTPLUS

Last updated: 22 September 2022


Things to do now