External Reporting

Description

This module builds upon your first-year studies in Introduction to Financial Accounting (ACCU9A1) and Introduction to Management Accounting (ACCU9A2) and introduces you to the International Accounting Standards for financial reports. The purpose of the module is to prepare you for your professional accountancy exams. A prerequisite of those final professional papers is the ability to construct a set of financial statements, which would be used by readers external to the business being reported on. Through hands-on practice of some very detailed questions on accountancy practice in both the lectures and tutorials, you'll be introduced to the main rules and regulations surrounding the production of published accounts. By the end of the module you will have been introduced to adjusting these for both pre- and post-balance sheet events. In addition, you’ll be able to produce, in simple form, the full set of financial statements as required by International Accounting Standard 1 (IAS1), adopted by the International Accounting Standards Board. Location/Method of Study Stirling, On Campus Stirling, On Campus/On Campus, UK Module Objectives n/a n/a n/a n/a n/a n/a n/a n/a n/a Additional Costs There are no additional costs associated with this Module. Core Learning Outcomes On successful completion of the module, you should be able to: extend and develop a broad range of accounting theories, practical skills, and approaches; construct a suite of financial reports, using appropriate professional formats and accounting rules and regulations; analyse and interpret financial statements within a range of business contexts, including complex group structures. Introductory Reading and Preparatory Work Elliott, B and Elliott, J. (2019), Financial Accounting and Reporting 19th edition Book-Keeping: Jones, M. (2006), Financial Accounting, Wiley or any text book which covers double entry. Revenue Recognition: International Financial Reporting & Analysis 17th edition, Alexander, Britton, Jorissen, Hoogendoorn & Van Mourik, : Chapter 18 Delivery Independent Study Hours 168 hours Independent activities required to complete the module Total Study Time 200 hours Attendance Requirements Your attendance at lectures, group workshops and other events is extremely important. Likewise full engagement in your studies will enable you to get the most out of the course and help you perform at your best when it comes to assessment. We expect you to attend and engage with all aspects of this module and with your programme of study. We will monitor these aspects throughout each semester to check that you are fully participating and that you coping well with your studies. It is therefore essential that you: Attend all lectures and group workshops outlined in the timetable of activity provided in this module descriptor Actively participate in classes and group work sessions Prepare in advance by undertaking the required reading and/or other forms of preparation Attend meetings with your personal tutor, module co-ordinator or programme director if requested Engage in extra-curricular events, groups and meetings where provided which are designed to support and inform your studies Attend in-sessional English language classes (if applicable) Submit coursework/assessment by the due time and date Attend class tests at the specified time and date Make your module co-ordinator aware at the earliest opportunity if you experience problems which may impact on your attendance and engagement Inform the University of absence (planned or unplanned), e.g. illness, emergency as outlined at: http://www.stir.ac.uk/registry/studentinformation/absence Assessment % of final grade Learning Outcomes Class Test 25 1 Exam (Paper) 75 1,2,3 Coursework: 25% Examination: 75% Available to Visiting Study Abroad Students? Yes