Unit name | Financial Accounting |
---|---|
Unit code | EFIM20007 |
Credit points | 20 |
Level of study | I/5 |
Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
Unit director | Mr. Ricky Tutin |
Open unit status | Not open |
Pre-requisites |
Fundamentals of Accounting and Finance 1 and Fundamentals of Accounting and Finance 2; or ACCG10052 Introduction to Accounting; or 60% in 25 Principles of Accounting (University of London External Diploma) |
Co-requisites |
None |
School/department | School of Accounting and Finance - Business School |
Faculty | Faculty of Social Sciences and Law |
This unit aims to equip participants with a good understanding of the principles and techniques of Financial Reporting, Income Concepts (Valuation) and Auditing, providing a useful and interesting foundation for future studies.
Financial Reporting
1. Explain, apply and evaluate the principles underpinning international financial reporting, including those described in the evolving International Accounting Standards Board's Conceptual Framework for Financial Reporting
2. For a selection of topics, explain and apply the requirements of international financial reporting standards (IASs and IFRSs) currently in force; explain and apply the requirements arising from proposed alternatives and/or improvements to those standards; evaluate current requirements and proposals for change
The topics are those which are prominent in the world of financial reporting at the time the unit operates and are likely to include: Leases; Provisions, Contingent Liabilities and Contingent Assets; Property, Plant and Equipment (including the impact of government grants and borrowing costs); Intangible assets; Impairment of assets; Group accounts
Income Concepts
Auditing
20 hours lectures for whole cohort
10 hours of exercise lecture for groups of 50-60 students
10 one-hour tutorials for groups of no more than 15 students
Summative:
Formative:
All learning objectives are assessed by both summative and formative assessment
Alexander, Britton and Jorissen International Financial Reporting and Analysis
Iain Gray and Stuart Manson The Audit Process