ACCT08031 2016 Financial Reporting 6

General Details

Full Title
Financial Reporting 6
Transcript Title
Financial Reporting 6
N/A %
Subject Area
ACCT - Accounting
BUS - Business
08 - NFQ Level 8
05 - 05 Credits
Start Term
2016 - Full Academic Year 2016-17
End Term
9999 - The End of Time
Caroline McNulty, Helen Grady
Programme Membership
SG_BACCO_H08 202100 Bachelor of Arts (Honours) in Business in Accounting L8

Further develop the students ability to apply best practice in the preparation of financial statements for a variety of organisations.

Learning Outcomes

On completion of this module the learner will/should be able to;

Apply best practice in the areas of ethical behaviour, corporate governance and social responsibility to practical situations

Account for transactions in accordance with International accounting standards


Preparation of consolidated financial statements including an associate


Analyse and interpret financial statements


Criticise the accounting treatment adopted by a business in recording/presenting information.

Teaching and Learning Strategies

The strategy is based on a mix of

Lecture Strategy used to introduce each topic to students. As lecturing does not hold the students attention for very long it is used as a means of conveying information on a new topic to students.

Active Learning where students produce written work during the lecture. This aims to improve students' understanding and retention of information and can be very effective in developing higher order cognitive skills such as problem solving and critical thinking.

Discussion Strategies where students are engaged in discussion to deepen their learning and motivation by propelling them to develop their own views and hear their own voices. It provides a good environment for interaction is the first step in encouraging students to talk.

Module Assessment Strategies

A 20% assessment part way through the semester covering material delivered.

Repeat Assessments

Repeat examination as all learning outcomes are covered

Module Dependencies

ACCT08033 201600 Financial Reporting 5

Indicative Syllabus

The underlying principles of good corporate governance, social responsibility and ethical behaviour - the interaction between them and the accountant's role in all of this.

Prepare consolidated financial statements including adjustments for inter-co. balances, unrealised profits on inter-co transfers of assets and revaluation of tangible non current assets.

Calculation and interpretation of accounting ratios and trends to address users’ and stakeholders’ needs

Discuss new developments in financial reporting strategy including XBRL and integrated reporting.

Describe the content of standard in issue and under development by the IASB and critically evaluate their application by a business.

Coursework & Assessment Breakdown

Coursework & Continuous Assessment
20 %
End of Semester / Year Formal Exam
80 %

Coursework Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 In class Q/A sessions, MCQ's etc Formative UNKNOWN - % OnGoing 1,2,3,4,5
2 Practical exercises Continuous Assessment UNKNOWN 0 % OnGoing 1,2,3,4,5
3 Written test Continuous Assessment Assessment 20 % Week 9 1,2,3,5

End of Semester / Year Assessment

Title Type Form Percent Week Learning Outcomes Assessed
1 Written test Final Exam Closed Book Exam 80 % End of Term 1,2,3,4,5

Full Time Mode Workload

Type Location Description Hours Frequency Avg Workload
Independent Learning UNKNOWN Personal study 3 Weekly 3.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Lecture Flat Classroom Lecture 1 Weekly 1.00
Total Full Time Average Weekly Learner Contact Time 4.00 Hours

Required & Recommended Book List

Recommended Reading
2015-07-09 International Financial Reporting: A Practical Guide Pearson Education Limited
ISBN 1292086238 ISBN-13 9781292086231

INTERNATIONAL FINANCIAL REPORTING: A Practical Guide "If the accounting student was only to purchase one textbook in their student lives then it should without a doubt be Melville's International Financial Reporting" Raymond Holly, Galway-Mayo Institute of Technology (Ireland) With more than 120 countries in the world now using international financial reporting standards (IFRS), knowledge of the standards issued by the International Accounting Standards Board (IASB) is vital to students' success in financial accounting. Melville's International Financial Reporting employs a practical, applied approach in exploring and explaining the key international standards. With a focus on how to implement the standards, this text delivers a focused, user-friendly introduction to international financial reporting. Renowned for clear and concise language, this fifth edition brings the book completely up-to-date with international standards issued as of 1 January 2015. Key features * Unique practical approach * Class-tested by professional and degree students * Worked examples with solutions in every chapter * Chapter-end exercises featuring questions from past exam papers of key professional accountancy bodies Visit for our suite of resources to accompany this textbook, including a complete solutions guide, PowerPoint slides for each chapter and opportunities for extra practice. Alan Melville FCA BSc Cert Ed. is a best-selling author. Previously a Senior Lecturer at Nottingham Trent University, he has many years' experience of teaching accounting and financial reporting.

Recommended Reading
2015-08-28 International Financial Accounting and Reporting Chartered Accountants Ireland
ISBN 1910374296 ISBN-13 9781910374290
Recommended Reading
2015-04-30 ACCA F7 Financial Reporting: Study Text BPP Learning Media
ISBN 1472726766 ISBN-13 9781472726766

BPP Learning Media's status as official ACCA Approved Learning Provider - Content means our ACCA Study Texts and Practice & Revision Kits are reviewed by the ACCA examining team. BPP Learning Media products provide you with the exam focussed material you need for exam success.

Recommended Reading
2015-03-01 F7 Financial Reporting - Complete Text Kaplan Publishing
ISBN 1784152153 ISBN-13 9781784152154
Recommended Reading
2015-09-16 Financial Accounting & Reporting Pearson Education Ltd
ISBN 1292080507 ISBN-13 9781292080505

This market-leading text provides a comprehensive overview of financial accounting and reporting. It offers a balance of theoretical and conceptual coverage with up-to-date practical application of current international standards. There is an emphasis on both being able to prepare and also to critically discuss IFRS compliant financial statements. With both theoretical and practical coverage, including worked examples throughout the text, the authors provide essential knowledge for advancing in your studies and career. Key features: * Fully updated coverage of IFRS and IAS with coverage of revenue recognition, financial instruments, employment benefits, leases and construction contracts * Initial chapters explain cash and accrual accounting for anyone new to accounting or can act as a refresher * Exercises of varying difficulty including questions from past examination papers of professional accounting bodies * Detailed solutions to selected questions are available on the text's website * Illustrations taken from real world international company reports and accounts * Extensive references included at the end of chapters * Covers the interpretation of accounts for management purposes with an emphasis on preparing a report and for investment purposes with an overview of a variety of the ratios used MyAccountingLab Join over 10 million students benefiting from Pearson MyLabs. This title can be supported by MyAccountingLab, an online homework and tutorial system designed to test and build your understanding. You need both an access card and a course ID to access MyAccountingLab: Is your lecturer using MyAccountingLab? Ask your lecturer for your CourseID. Has an access card been included with the book? Check the inside back cover of the book. If you have a course ID but no access card, go to to buy access to this interactive study programme. MyAccountingLab provides a personalised approach, with instant feedback and numerous additional resources to support your learning. Key features: * A study plan designed just for you * Worked solutions showing how to solve difficult problems * Limitless opportunities to practise * An eText for quick reference Barry Elliott is a training consultant. He has extensive teaching experience at undergraduate, postgraduate and professional levels in China, Hong Kong, New Zealand and Singapore. He has wide experience as an external examiner in higher education and at all levels of professional education. Jamie Elliott is a director with Deloitte. Prior to this, he lectured on undergraduate degree programmes and as Assistant Professor on MBA and Executive programmes at the London Business School.

Module Resources

Non ISBN Literary Resources

The core text for this module is: Alan Melville, 2015 International Financial Reporting: A Practical Guide Pearson Education Limited ISBN-10 1292086238, ISBN-13 9781292086231

URL Resources

IFRS Foundation and the IASB website for IAS and IFRS standards, technical summaries and interpretations

IAS Plus website for IAS and IFRS news and updates

ACCA website for past examination papers

Other professional body websites for students:

Other Resources

Module Moodle page

Relevant articles from professional journals available through the above professional body websites

Additional Information