AF5033 - Corporate and Group Accounting

What will I learn on this module?

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

You will begin by studying the regulatory and conceptual frameworks, which underpin financial reporting, and you will gain an understanding of how these frameworks 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 (IAS) and International Financial Reporting Standards (IFRS):

IAS 1 Preparation of financial statements
IAS 2 Inventories
IAS 7 Statement of cash flows
IAS 12 Income taxes
IAS 16 Property, plant and equipment
IAS 28 Investments in associates
IAS 33 Earnings per share
IAS 36 Impairments
IAS 37 Provisions, contingent liabilities and contingent assets
IAS 38 Intangible assets
IFRS 3 Business combinations
IFRS 10 Consolidated financial statements
IFRS 15 Revenue from contracts with customers
IFR6 16 Leases

Finally, you will learn how to analyse and interpret a set of financial statements. Additional standards/topics will be added as and when they are promulgated.

On completion of this module, you will have gained a thorough understanding of financial reporting and will have developed practical accounting and interpretation skills that will be of particular benefit to those looking to pursue a career in accounting. You will also study relevant ethical and social implications of non-compliance with accounting standards.

How will I learn on this module?

You will learn through a series of lectures, seminars and independent learning.

There will be two hours of lectures per week during which you will cover the technical content of the module.

In addition, you will attend two one-hour seminars each week, which will enable you develop your understanding of the lecture topics through focused question practice and group work/discussion. Your seminars require engagement with an industry recognised accounting software package that will not only help to deepen your understanding of the subject matter but will also enhance your employability skills.

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 of the preparation and interpretation of
Financial statements for both single entities and groups. (MLO 1)

Intellectual / Professional skills & abilities:
You will develop practical accounting skills that will be relevant to your future career in accounting/finance. (MLO 2)

Personal Values Attributes:
Apply professional ethics in the context of financial reporting. (MLO 3)

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 (+15 minutes reading time) at the end of the semester.

The examination will consist of five questions and will cover the full syllabus.

(MLO 1, 2 3)

Pre-requisite(s)

Level 4 Financial Accounting Module

Co-requisite(s)

N/A

Module abstract

Financial accounting and reporting is at the heart of what accountants do. This module will build 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’ll develop your knowledge and understanding of the International Financial Reporting Standards (IFRS). You’ll then learn to apply these to the preparation of financial statements, and to the subsequent analysis and interpretation of those financial statements. You’ll also gain the practical skills you need to prepare and interpret a set of financial statements, core skills which graduate employers are looking for. The module content and assessment methods are aligned with professional body requirements, so you’ll finish the module with an excellent grounding for your professional examinations after graduation.

Course info

UCAS Code N405

Credits 20

Level of Study Undergraduate

Mode of Study 3 years full-time or 4 year sandwich

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start September 2021 or September 2022

Fee Information

Module Information

All information on this course page is accurate at the time of viewing.

Courses starting in 2021 are offered as a mix of online and face to face teaching due to the ongoing Covid-19 pandemic.

We continue to monitor government and local authority guidance in relation to Covid-19 and we are ready and able to flex accordingly to ensure the health and safety of our students and staff.

Students will be required to attend campus as far as restrictions allow. Contact time will increase as restrictions ease, or decrease, potentially to a full online offer, should restrictions increase.

Our online activity will be delivered through Blackboard Ultra, enabling collaboration, connection and engagement with materials and people.

 

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