Modiwl ACC-2107:
Inter Finan Accounting & Repor
International Financial Accounting and Reporting 2023-24
ACC-2107
2023-24
Bangor Business School
Module - Semester 1
15 credits
Module Organiser:
Debbie Gilliland
Overview
To acquire knowledge of financial accounting comprising of groups of companies, and to further analyse the contents of chosen key accounting standards.
The course will cover the following:
• The rationale for a Conceptual Framework. • Preparation of basic cash flow statements. • Group Accounting: Consolidated Financial Statements for subsidiaries and associates. • Assessing Financial Performance using ratios. • Specific Accounting standards relating to property plant and equipment, intangible assets, impairment of assets, changes in accounting policies and estimates, revenue recognition, provisions, and contingent liabilities among others.
Assessment Strategy
-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
-excellent -A- to A+ (70%+): Outstanding performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
Learning Outcomes
- Demonstrate knowledge and understanding of the connections that can exist in group companies and the fitting accounting methods.
- Demonstrate knowledge and understanding of the ever-changing and evolving nature of accounting standards and interpretations along with issuance of new accounting standards in the context of international business.
- Demonstrate knowledge and understanding of the objective, development, and application of selected accounting standards.
- Evaluate a company’s financial and operational performance using ratio analysis.
- Prepare basic cash flow statements for companies.
- Prepare consolidated financial statements in accordance with relevant International Financial Reporting Standards.
Assessment method
Essay
Assessment type
Crynodol
Description
Students are required to write 3000-3500 words essay on assigned topic.
Weighting
40%
Assessment method
Exam (Centrally Scheduled)
Assessment type
Crynodol
Description
The students will be sitting for a three-hour unseen examination paper. The paper will consist of two sections, the first will require students to prepare consolidated financial statements and cash flows and section two will comprise of questions on selected IFRSs.
Weighting
60%