Module Code: H8FREP2
Long Title Financial Reporting 2
Title Financial Reporting 2
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: DESMOND GIBNEY
Module Author: DESMOND GIBNEY
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Demonstrate the ability to prepare and present consolidated financial statements in accordance with currently accepted accounting practices
LO2 Demonstrate the ability to apply their conceptual understanding developed at earlier stages of the course to analyse financial statements and to write reports thereon
LO3 Demonstrate critical awareness of the major current trends in the financial accounting environment.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
18489 H8FREP1 Financial Reporting 1
Co-requisite Modules
No Co-requisite modules listed
Entry requirements  
 

Module Content & Assessment

Indicative Content
Consolidated Corporate Financial Statements (60%)
• Preparation and presentation of financial statements for groups of companies together with associated companies • European Union (Companies: Group Accounts) Regulations • 1992 (Republic of Ireland) S.I. 201 of 1992. • Principles and methods of consolidation • Accounting considerations, including the treatment of intra group transactions, acquisitions, disposals, pre-acquisition profits and goodwill. • Book-keeping entries and preparation of group accounts including group cash flow statements • Determination of fair value on acquisition and calculation of acquisition adjustments • Presentation of related disclosures in notes to financial statements • Knowledge of the relevant accounting standards • Accounting for associates and joint ventures • Relevant accounting standards: ¿ IAS 27: Consolidated and Separate Financial Statements ¿ IAS 28: Investments in Associates ¿ IAS 31: Interests in Joint ventures ¿ IAS 7: Cash Flow Statements (for Group Companies) ¿ IFRS 3: Business Combinations (contingent consideration and step acquisitions is excluded) ¿ IFRS 9: Financial Instruments (understanding of broad principles of recognition and derecognition of financial assets and liabilities required) ¿ IAS 32: Financial Instruments: Disclosure and Presentation (A understanding of the definition of assets and liabilities is required)
Analysis of Corporate Financial Statements (20%)
• Critical analysis of corporate financial statements using the knowledge of accounting theory and practice relevant to the three years of Financial Accounting in this course. • The following accounting standards are also examinable: ¿ IAS 17: Leases (Accounting for lessors is excluded) ¿ IAS 19: Employees Benefits
Trends in the Financial Accounting Environment (20%)
• International financial reporting standards. Globalisation. Developments in other countries. • Financial Reporting Standard for Smaller Entities (FRSSE). Mandatory company audits. • Financial information other than the ‘financial statements’. Expansion of the annual report. Financial reporting on the internet.
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Assignment % of total: 30
Assessment Date: n/a Outcome addressed: 1
Non-Marked: No
Assessment Description:
Students will be assessed on the practical application of financial reporting
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
End-of-Semester Final Examination
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 4 Every Week 4.00
Practical No Description 1 Every Week 1.00
Total Weekly Contact Hours 5.00
 

Module Resources

Recommended Book Resources
  • Connolly, Ciaran. (2011), International Financial Accounting and Reporting, 3rd. Chartered Accountants Ireland.
  • Relevant Accounting Standards.
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: