AC312-Advanced International Financial Reporting

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:6
Terms in which taught: Spring term module
Pre-requisites: AC216 International Corporate Financial Reporting or AC206 Financial Accounting
Non-modular pre-requisites:
Co-requisites:
Modules excluded: AC305 Financial Accounting and Reporting
Current from: 2020/1

Module Convenor: Dr Lei Tao

Email: lei.tao@henley.ac.uk

Type of module:

Summary module description:

This module looks closely at a number of international financial reporting standards and at the preparation of consolidated financial statements. 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 the University of Reading UK, University of Reading Malaysia and the Beijing Institute of technology.

Aims:

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 legitimacy of standard setting regime, measurement in financial reporting, international accounting differences and the adoption o f international standards

Global context:

The module discusses international accounting standards and the international accounting standard setting regime

Brief description of teaching and learning methods:

Lectures of two hours per week are used for the exposition of the major concepts, principles and techniques under consideration. Workshops of two hours duration are used for student-led discussion or numerical practice.

Contact hours:

	Autumn	Spring	Summer
Lectures		20	2
Tutorials		16
Guided independent study:
Wider reading (directed)		10
Exam revision/preparation		30	35
Advance preparation for classes		30
Essay preparation		57
Total hours by term	0	163	37
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	80
Written assignment including essay	20

Summative assessment- Examinations:

1 x 2.5 hours examination

Summative assessment- Coursework and in-class tests:

1 x written assignment, including essay

To be submitted Friday 2.00pm week 9 or 10 of Spring Term.

Students studying at the Beijing Institute of Technology may have a different submission week.

Formative assessment methods:

Penalties for late submission:

The Module Convenor 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[1] (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: http://www.reading.ac.uk/web/FILES/qualitysupport/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 minimum mark of 40%.

Reassessment arrangements:

1 x 2.5 hour examination.

Additional Costs (specified where applicable):

Required text books: (actual for 2019-20 and indicative for 2020-21): J. Maynard, Financial accounting, reporting and analysis, Oxford University Press, 2nd ed. 2017 9780198745310  £46.99 (2018-19 price). Textbook is the same as used for the level 5 module AC216.

Calculator: £15 -  Casio FX-83GTPLUS or Casio FX-85GTPLUS or Casio FX-83GTX or Casio FX-85GTX

Last updated: 4 April 2020