AC312: Advanced International Financial Reporting

Module code: AC312

Module provider: Business Informatics, Systems and Accounting; Henley Business School

Credits: 20

Level: Level 3 (Honours)

When you'll be taught: Semester 2

Module convenor: Mr Leon Coopasamy, email: l.coopasamy@henley.ac.uk

Pre-requisite module(s): BEFORE TAKING THIS MODULE YOU MUST TAKE AC206 (Compulsory)

Co-requisite module(s):

Pre-requisite or Co-requisite module(s):

Module(s) excluded: IN TAKING THIS MODULE YOU CANNOT TAKE AC305 (Compulsory)

Placement information: na

Academic year: 2024/5

Available to visiting students: Yes

Talis reading list: Yes

Last updated: 17 June 2024

Overview

Module aims and purpose

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 financial reporting/accounting modules. This involves in particular (i) a consideration of several 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.

The module lead at the University of Reading Malaysia is Ammselaxmy Manickadass

Module learning outcomes

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

1. Describe, explain, apply and critically discuss the contents of a number of International Financial Reporting Standards (IASs & IFRSs)
2. 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
3. Analyse, summarise, synthesise and evaluate academic and professional literature
4. Organise and present information clearly, succinctly and in the required format, both under timed conditions and in assessed work

Module content

• Financial Instruments
• Leasing
• Revenue
• Foreign currency transactions
• Accounting for associates and joint ventures
• Statement of cash flows
• Interpretation of financial statements
• Earnings management

Structure

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 per week are used for student-led discussion or numerical practice.

This module may be taught in a different semester if you are studying at our campus in Malaysia.

For students studying at our campus in Malaysia: This module may be taught in a different semester and the breakdown of study hours may differ to those set out in the Study Hours table (please refer to the Module Handbook for the correct breakdown). In addition, you will be required to complete an additional 40 hours of study, taking the total number of study hours to 240 for this module. This is to comply with the Malaysian Quality Agency (MQA).

Study hours

At least 38 hours of scheduled teaching and learning activities will be delivered in person, with the remaining hours for scheduled and self-scheduled teaching and learning activities delivered either in person or online. You will receive further details about how these hours will be delivered before the start of the module.

Please note the independent study hours above are notional numbers of hours; each student will approach studying in different ways. We would advise you to reflect on your learning and the number of hours you are allocating to these tasks.

Semester 1 The hours in this column may include hours during the Christmas holiday period.

Semester 2 The hours in this column may include hours during the Easter holiday period.

Summer The hours in this column will take place during the summer holidays and may be at the start and/or end of the module.

Assessment

Requirements for a pass

Students need to achieve an overall module mark of 40% to pass this module.

Summative assessment

Penalties for late submission of summative assessment

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

Assessments with numerical marks

• 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 three working days;
• the mark awarded due to the imposition of the penalty shall not fall below the threshold pass mark, namely 40% in the case of modules at Levels 4-6 (i.e. undergraduate modules for Parts 1-3) and 50% in the case of Level 7 modules offered as part of an Integrated Masters or taught postgraduate degree programme;
• where the piece of work is awarded a mark below the threshold pass mark prior to any penalty being imposed, and is submitted up to three working days after the original deadline (or any formally agreed extension to the deadline), no penalty shall be imposed;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension to the deadline): a mark of zero will be recorded.

Assessments marked Pass/Fail

• where the piece of work is submitted within three working days of the deadline (or any formally agreed extension of the deadline): no penalty will be applied;
• where the piece of work is submitted more than three working days after the original deadline (or any formally agreed extension of the deadline): a grade of Fail will be awarded.

The University policy statement on penalties for late submission can be found at: https://www.reading.ac.uk/cqsd/-/media/project/functions/cqsd/documents/qap/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.

Formative assessment

Formative assessment is any task or activity which creates feedback (or feedforward) for you about your learning, but which does not contribute towards your overall module mark.

Opportunities for informal feedback are available throughout the course in lectures and seminars and may take the form of response to questions and activities and feedback from marked independent study. Exam style questions will be practised in seminars and additional material made available on Blackboard for independent study. Marking guides and feedback are provided where appropriate so that students can assess their own performance.

Reassessment

Additional costs