Nottingham University Business School
  • Print
   
   

Financial Accounting and Reporting 2

Please note that the following information may be subject to change.

Programme: Undergraduate

Module Code: N12904

Semester: Autumn

Convenor: Carolyn Isaaks

Credits & Level: 20 credits; Level 2

Pre-requisites: N12903 (Financial Accounting and Reporting 1).

Co-requisites: None.

Target Students: BSc Accountancy students Part I, year 3 only

Delivery: 20 ninety-minute lectures and 6 sixty-minute seminars
Taught as a block around the second placement in Autumn semester year 3 of the programme

Assessment: One three-hour examination (100%)

Exam Format:FOUR compulsory questions related to Single Entity financial Statements and Consolidated Financial Statements. The paper will involve computations and each question may require knowledge of additional accounting and reporting concepts and ethics.

Summary of Content Reporting framework, concepts and ethics, preparation of single entity and consolidated financial statements, application of International Financial Reporting Standards

Aims The aim of this Financial Accounting and Reporting 2 module is to ensure that students build upon their year 1 and 2 study of Financial Accounting. They will be able to prepare single entity financial statements, and extracts from those financial statements, covering a wider range of International Financial Reporting Standards (IFRS) including those relating to leases, borrowing costs and related parties; and should be able to explain accounting and reporting concepts and ethical issues, and the application of specified IFRS to a given single entity.
It will also develop the understanding of group accounting principles from year 2 in preparing consolidated financial statements and address issues arising from group accounting including fair values, intangibles and impairment.

Key Words: Financial Accounting; Financial Reporting; Ethics

Learning Objectives & Outcomes Knowledge and understanding
This module develops a knowledge and understanding of:
  • The dynamic and changing nature of business and the consideration of the future of organisations within the global business environment, including the management of risk
  • The main current technical language and practices of accounting in a specified socio-economic domain
  • Some of the alternative technical languages and practices of accounting
  • Skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business financial analysis and projections
  • Contemporary theories and empirical evidence concerning accounting in at least one of its contects and the ability to critically evaluate such theories and evidence
Intellectual skills
This module develops:
  • The ability to analyse facts and circumstances to determine the cause of a problem and identifying and selecting appropriate solutions
  • Conceptual and critical thinking, analysis, synthesis and evaluation
Professional practical skills
This module develops:
  • Numeracy and quantitative skills to manipulate data, evaluate, estimate and model business problems, functions and phenomena
Transferable (key) skills
This module develops:
  • Communication and listening including the ability to produce clear, structured business communications in a variety of media
Knowledge and understanding
This module develops a knowledge and understanding of:
  • The main current technical language and practices of accounting in a specified socio-economic domain
  • Some of the alternative technical languages and practices of accounting
  • Skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business financial analysis and projections
  • Contemporary theories and empirical evidence concerning accounting in at least one of its contects and the ability to critically evaluate such theories and evidence



Back to Module List
 

 

Nottingham University Business School

Jubilee Campus
Nottingham
NG8 1BB

telephone: +44 (0) 115 846 6602
fax: +44 (0) 115 846 6667
email: business-enquiries@nottingham.ac.uk