AF5006 - Corporate and Group Accounting

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What will I learn on this module?

This module will enable you to develop your knowledge and understanding of International Financial Reporting Standards (IFRS). The module builds on your previous financial accounting studies.

You will begin by studying the regulatory and conceptual frameworks and you will gain an understanding of how these inform the standard setting process. You will also gain an awareness of professional and ethical issues surrounding corporate reporting.

The module covers financial reporting for both single entities and groups. You will study the following international accounting standards:

IAS1 Preparation of financial statements
IAS2 Inventories
IAS7 Statement of cash flows
IAS12 Income taxes
IAS16 Property, plant and equipment
IAS17 Leases
IAS28 Investments in associates
IAS33 Earnings per share
IAS36 Impairments
IAS37 Provisions, contingent liabilities and contingent assets
IAS38 Intangible assets
IFRS3 Business combinations
IFRS15 Revenue from contracts with customers

This list of standards will be updated periodically.

Finally, you will learn how to analyse and interpret a set of financial statements

On completion of this module you will have gained a thorough understanding of financial reporting and will have developed practical accounting skills which will be of particular benefit to those looking to pursue a career in accounting.

How will I learn on this module?

You will learn through lectures, seminars and independent learning. There will be lectures during which you will cover the technical content of the module. In addition you will attend seminars which will allow you develop your understanding of the lecture topics through focused question practice and group work/discussion.

Your e-learning portal will support your studies and will include all lecture and seminar material. In addition the e-learning portal will include additional material that will provide you with the opportunity for further independent question practice.

Your progress on the course will be continually assessed by both yourself and your lecturers. The practical nature of seminars means that lecturer (formative) assessment will be received continuously. Each lecture and seminar will end with a short quiz/test which will enable a more formal (summative) assessment to be carried out which will help you identify areas requiring additional work.

Independent learning time is set aside for learning activities, self-identified by your own research, so you can gain a deeper and broader knowledge of the subject.

How will I be supported academically on this module?

You will be supported throughout by the module teaching team who are available to answer your questions either in person or by email/telephone. You are encouraged to contact a member of the tutor team for additional support and guidance as necessary throughout the course.

Your module is supported by the e-learning portal, which includes lecture and seminar material as well as additional material for independent study. Your lectures will be recorded and uploaded to the e-learning portal which you will be able to access to consolidate your knowledge and develop understanding.

Your electronic reading list includes core material to support your lectures/seminars and a comprehensive range of professional accounting reports/articles and academic journal articles relevant to your studies.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at: http://readinglists.northumbria.ac.uk
(Reading List service online guide for academic staff this containing contact details for the Reading List team – http://library.northumbria.ac.uk/readinglists)

What will I be expected to achieve?

Knowledge & Understanding:
• You will develop a thorough understanding and application of the preparation and interpretation of financial statements for both the single entities and groups (MLO1).

Intellectual / Professional skills & abilities:
• You will develop practical accounting skills that will be relevant to your future career in accounting/finance (MLO2).

Personal Values Attributes:
• Apply professional ethics in the context of financial reporting (MLO3).

How will I be assessed?

Formative Assessment:
Formative assessment will be provided to you through a range of seminar activities which will enable you to prepare for summative assessment at end of the module. You will be given the opportunity to develop your examination technique through practising exam standard questions which are comparable to those set by professional bodies. Formative assessment will be provided by tutors during each session.

Summative Assessment:
The module will be assessed by one three hour closed book examination (plus 15 mins reading time) at the end of the semester (MLO1, MLO2 & MLO3).

Pre-requisite(s)

Level 4 Financial Accounting Module or equivalent

Co-requisite(s)

None

Module abstract

Financial accounting and reporting is at the heart of what accountants do. The module builds on your earlier financial accounting studies and focuses on the preparation and interpretation of a set of financial statements for both individual companies and groups.

You will develop your knowledge and understanding of International Financial Reporting Standards (IFRS) and to apply this to the preparation of financial statements and the subsequent analysis and interpretation of those financial statements.

The module will equip you with the practical skills required to prepare and interpret a set of financial statements which graduate employers are looking for. The module content and assessment methods are aligned with professional body requirements which will prepare you for your professional examinations on graduation.

Course info

UCAS Code N400

Credits 20

Level of Study Undergraduate

Mode of Study 3 years full-time or 4 years with a placement (sandwich)/study abroad

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start September 2019 or September 2020

Fee Information

Module Information

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