ACM011-Advanced International Financial Reporting and Analysis

Module Provider:
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites:
Modules excluded:
Current from: 2023/4

Module Convenor: Dr Renata Stenka
Email: r.i.stenka@henley.ac.uk

Type of module:

Summary module description:

This module develops further students’ knowledge and understanding of international financial reporting and the relevant regulatory and institutional framework of financial accounting. It also covers performative aspects of financial disclosure.

Aims:

The module develops further students’ knowledge and critical understanding of the international financial reporting and the relevant regulatory and institutional framework of financial accounting. It also covers performative aspects of financial disclosure and critical evaluation of accounting innovations that acknowledge the broader social and environmental impact of business activities. The module focuses on the inherent subjectivity in the preparation and interpretation of financial statements and its impact on the decision usefulness of the information provided.

 

Assessable learning outcomes:

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

• Understand and apply relevant international accounting regulations and guidance with regards to more complex transactions and business scenarios.  


• Appreciate and understand the broader political, institutional, and social context of financial reporting.


• Critically evaluate the controversies surrounding recent financial reporting developments(social and environmental accounting). 


• Appreciate the inherent subjectivity and thus performativity of financial disclosure.


• Appreciate the changes in international financial accounting in the era of stakeholder capitalism which challenge the shareholder focus of conventional accounting. 


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Intended learning outcomes:

• Discuss the development of a number of international financial reporting standards that cause controversy.


• Describe, apply, and critically evaluate the contents of such standards and guidance. 


• Critically evaluate various academic arguments relating to the content of accounting standards and the politics of accounting standard setting process.


• Analyse, summarise and synthesise selected relevant academic and professional literature.


• Critically evaluate and challenge established dogmas in the relevant body of knowledge.

 

 

 

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. Further aspects of accounting for assets and liabilities. 


2. Prepare and critique group accounting (including subsidiaries, associates and joint ventures). 


3. The inherent subjectivity and thus performativity of financial disclosure. 


4. Institutional and political context of accounting regulations and guidance. 


5. Implications of rhetoric in accounting regulatory field.


6. Wider social and environmental impact of business activities and its implications for financial reporting.   


7. Creative accounting manoeuvres and their impact on the decision usefulness of financial statements. 


8. Main challenges in the valuation of ‘living’ capital.  

Global context:

Focus on global financial accounting and reporting regulations and institutional developments.

Contributions from the international academic and professional speakers. 

Brief description of teaching and learning methods:

Lectures will be used for the exposition of the major concepts, principles, and techniques under consideration. Workshops will be used for case studies, practical applications and student-led presentations or discussions. The input from external speaker(s) will provide international and interdisciplinary context to the module delivery.

Contact hours:

	Autumn	Spring	Summer
Lectures		22
Seminars		16
Guided independent study:
Wider reading (independent)		43
Wider reading (directed)		12
Exam revision/preparation		10
Preparation for tutorials		20
Completion of formative assessment tasks		5
Revision and preparation		12	56
Reflection		4
Total hours by term	0	144	56
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	80
Class test administered by School	20

Summative assessment- Examinations:

One 2 hour in person closed book unseen written exam in the Summer term.

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 1h mid-term test in the spring term in week 27.

Formative assessment methods:

Group work based on real life accounting practice case studies.

Penalties for late submission:

The below information applies to students on taught programmes except those on Postgraduate Flexible programmes. Penalties for late submission, and the associated procedures, which apply to Postgraduate Flexible programmes are specified in the policy “Penalties for late submission for Postgraduate Flexible programmes”, which can be found here: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/penaltiesforlatesubmissionpgflexible.pdf
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: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/cqsd-old-site-documents/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.

Assessment requirements for a pass:

A weighted average mark of coursework and examination of 50%.?

Reassessment arrangements:

By examination only (one 2-hour unseen written paper) in August/September. MCQ will not be included in the re-assessment.

Additional Costs (specified where applicable):

Cost	Amount
Required text books - Elliot, B. and Elliot, J. Financial Accounting and Reporting 20th Edition, Pearson, 2022	Approx. £50

Last updated: 2 August 2023