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Unit information: Advanced Financial Reporting in 2021/22

Unit name Advanced Financial Reporting
Unit code EFIMM0124
Credit points 15
Level of study M/7
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Dr. Wang
Open unit status Not open




School/department School of Accounting and Finance
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

This unit is designed to develop the material covered in the International Financial Accounting and Reporting (IFAR) unit by examining more advanced financial reporting topics from both a technical and conceptual perspective. It will build on some of the topics covered in the IFAR unit and will also introduce new, more advanced ones. Topics covered include the IASB Conceptual Framework for Financial Reporting, financial instruments, employee benefits, accounting for income taxes, segmental reporting, accounting for share-based payments and earnings per share. Because the external financial reporting standard setting environment is dynamic, the unit will also introduce new topics if and when they emerge. The unit will introduce relevant academic literature to assess different accounting treatments from the perspectives of different users.

Intended Learning Outcomes

On successful completion of this unit, the student will be able to:

  1. Explain IFRS requirements in important areas of measurement and disclosure.
  2. Apply key International Financial Reporting Standards (IFRS) requirements in a variety of complex situations, including financial instruments, earnings per share, accounting for employee benefits and share-based payments.
  3. Demonstrate their awareness of the accounting complexities introduced by financial market innovation.
  4. Discriminate between different objectives for accounting in the context of the Conceptual Framework for Financial Reporting and in the context of capital markets decisions.
  5. Recognise the importance of disclosure in supplementing accounting measurements with inherent uncertainty.
  6. Summarize relevant empirical and theoretical evidence on the usefulness of financial reporting information to capital providers.

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions including lectures, tutorials, drop-in sessions, discussion boards and other online learning opportunities

Assessment Information

This unit will be assessed by a timed assessment (100%)


If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIMM0124).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.