Module Code: H8FR
Long Title Financial Reporting
Title Financial Reporting
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 10
Module Coordinator: Evelyn Murphy
Module Author: Evelyn Murphy
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 Discuss, apply and critically analyse the conceptual and regulatory frameworks for financial reporting
LO2 Account for transactions in accordance with International/International Reporting Accounting Standards
LO3 Prepare and present financial statements for single entities and consolidated financial statements for groups in accordance with International/International Reporting Standards and relevant legal requirements
LO4 Critically analyse the financial statements and report thereon
LO5 Discuss the significant differences between local and international GAAP and demonstrate a 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).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

Programme entry requirements  
 

Module Content & Assessment

Indicative Content
The conceptual and regulatory framework (Semester 1 Week 1)
Discussion and critical evaluation of the conceptual and regulatory frameworks for financial reporting; FRS 102.
International/International Reporting Accounting Standards (Semester 1 Weeks 2-12)
In-depth review and understanding of the following accounting standards: IAS 1 Presentation of Financial Statements; IAS12 Income Taxes; IAS 16 Property, Plant and Equipment; IAS 19 Employee Benefits; IAS 20 Accounting for Government Grants and Disclosures of Government Assistance; IAS 21 Effects of Foreign Currency; IAS 23 Borrowing Costs; IAS 24 Related Party; IAS 27 Consolidated and Separate Financial Statements; IAS 28 Investments in Associates; IAS 32 Financial Instruments: Presentation; IAS 33 Earnings Per Share; IAS 36 Impairment of Assets; IAS 38 Intangible Assets; IAS 39 Financial Instruments: Recognition and Measurement; IAS 40 Investment Property; IFRS2 Share Based Payments; IFRS 3 Business Combinations; IFRS 5 Non Current Assets held for Sale and Discontinued Operations; IFRS7 Financial Instruments: Disclosure; IFRS8 Operating Segment; IFRS9 Financial Instruments; IFRS10 Consolidated Financial Statements; IFRS12 Disclosure of Interests in Other Entities; IFRS 15 Revenue from Contracts with Customers; and IFRS 16 Leases.
Consolidated Financial Statements (Semester 2 Week 1 to 10)
Fundamentals of group accounting, subsidiaries, associates, joint ventures, goodwill, fair value measurement, Consolidated Statement of Profit or Loss and Other Comprehensive Income; Consolidated Statement of Financial Position, Consolidated Statement of Changes in Equity; Consolidated Statement of Cash Flows
Current issues in financial accounting (Semester 2 Week 11 to 12)
Comparison Irish/UK GAAP with international GAAP; FRS 102; Review of current issues in accounting.
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 30
Assessment Date: n/a Outcome addressed: 2,3
Non-Marked: No
Assessment Description:
Candidates are required to complete two in-class examinations. The in-class examination will be worth 15% each Total 30%.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4,5
Non-Marked: No
Assessment Description:
Final Examination (70%) will be 3 hours in duration and will contain a compulsory consolidation question. Students must also answer 3 other questions. The examination will include computational and written elements.
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.
Reassessment Description
Candidates will attempt the repeat assessment for the module, if they do not successfully pass the module. Learners are required to attempt all assessments attaching to a module. For those modules where all learning outcomes are assessable with a final examination, the student does not have to re-sit failed individual CA components.

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 Classroom and demonstrations 2 Every Week 2.00
Lecturer Supervised Learning Mentoring and small-group tutoring 1 Every Week 1.00
Directed Learning Directed e-learning 3 Every Week 3.00
Independent Learning Independent learning 8 Every Week 8.00
Total Weekly Contact Hours 6.00
 

Module Resources

Recommended Book Resources
  • Melville Alan. (2017), International Financial Reporting, A Practical Guide, 6th Ed. Pearson.
  • D’Arcy Margaret. (2019), An Introduction to Financial Accounting, 2nd Ed. Chartered Accountants Ireland.
Supplementary Book Resources
  • Connolly Ciaran. (2018), International Financial Accounting and Reporting, 6th Ed. Chartered Accountants Ireland.
This module does not have any article/paper resources
Other Resources
  • [Website], IFRS® Standards: IASB IFRS Foundation..
  • [Website], Financial Reporting Toolkit (Online Resource) Chartered Accountants Ireland.
Discussion Note: