Long Title:Financial Reporting
Language of Instruction:English
Module Code:H8FR
Credits: 10
NFQ Level:LEVEL 8
Field of Study: Accounting and taxation
Module Delivered in 1 programme(s)
Module Coordinator: Evelyn Murphy
Module editor: Evelyn Murphy
Teaching and Learning Strategy: This module will be delivered by lectures, tutorials and class discussion in the preparation and application of accounts. This module involves the development of competence in both theory and practical skills of accounting.
Module Description: The purpose of this module is further develop students' knowledge of financial accounting gained in previous modules. In particular, it aims to provide students with an understanding of the conceptual and regulatory framework underlying group accounting and the ability to account for complex business transactions. In addition, students will gain an understanding of the differences between local and international GAAP and an awareness of some of the topical issues in accounting.
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Discuss, apply and critically analyse the conceptual and regulatory frameworks for financial reporting.
LO2 Account for transactions in accordance with international accounting standards.
LO3 Prepare and present financial statements for single entities and consolidated financial statements for groups in accordance with international accounting 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.
Pre-requisite learning
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
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.
Financial Accounting 1 (H6FACC1) Financial Accounting 2 (H7FA2)
 

Module Content & Assessment

Indicative Content
The conceptual and regulatory framework
Discussion and critical evaluation of the conceptual and regulatory frameworks for financial reporting
Accounting for complex business transactions
Income Taxes; Leases; Employee Benefits; Foreign Exchange Rates; Related Party Transactions; Financial Instruments; Share Based Payments; Revenue
Consolidated Financial Statements
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 cash flows
Reporting Financial Performance
Earnings per share; interim reporting; non-current assets held for sale and discontinued operations; operating segments
Current issues in financial accounting
Comparison Irish/UK GAAP with international GAAP. Review of current issues in accounting.
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Full Time

Coursework
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Mid Semester Examination The assessment will comprise 30% of the final mark. This will examine learning outcomes completed to date of assessment. The continuous assessment will allow student to demonstrate a practical application of the material covered to date. 1,2,3,4,5 30.00 n/a
End of Module Assessment
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Terminal Exam The final examination will comprise 70% of the final mark. This will examine all learning outcomes. The examination will allow students to demonstrate the practical application of the material and case studies in the module. 1,2,3,4,5 70.00 End-of-Semester
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

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture No Description 2 Every Week 2.00
Tutorial No Description 1 Every Week 1.00
Independent Learning No Description 8 Every Week 8.00
Total Hours 11.00
Total Weekly Learner Workload 11.00
Total Weekly Contact Hours 3.00
This module has no Part Time workload.
 

Module Resources

Recommended Book Resources
  • Connolly, Ciaran 2015, International Financial Accounting and Reporting, 5th Ed., Chartered Accountants Ireland
  • D'Arcy, Margaret 2015, An Introduction to Financial Accounting, Chartered Accountants Ireland
  • Melville, Alan 2014, International Financial Reporting, A Practical Guide, 4th Ed., Pearson Harlow UK [ ISBN 9780273785972]
This module does not have any article/paper resources
Other Resources
  • http://www.iasplus.com: IAS Plus
  • http://www.isab.org: IASB
 

Module Delivered in

Programme Code Programme Semester Delivery
BAHACF BA (Honours) in Accounting and Finance 5 Core Subject