Module

Advanced Financial Accounting

Module description

Summary:

This module introduces students to some advanced topics in financial reporting such as: accounting for business combinations, financial instruments, assets impairment, leases, taxes, etc.  Drawing from empirical research, it also examines the decision usefulness and contracting roles of financial reporting.

 

Additional Information:

Internationalisation

International accounting standards which are adopted and used in many countries, are discussed and applied in this module.

Employability

This module offers the opportunity to develop skills in critical thinking, integration and synthesis between theoretical and practical perspectives, and the ability to identify potentially fruitful issues for further inquiry and research.

Students will be able to debate and discuss issues, and develop written skills.

Full module specification

Module title:Advanced Financial Accounting
Module code:BEAM024
Module level:M
Academic year:2020/1
Module lecturers:
  • Mr Adnan Isin - Lecturer
Module credit:15
ECTS value:

7.5

Pre-requisites:

None, but students are expected to have undertaken some financial accounting studies at the undergraduate level.

Co-requisites:

None

Duration of module: Duration (weeks) - term 1:

10

Module aims

This module aims to equip you with knowledge and skills in a number of key financial reporting topics that are relevant to contemporary practice and research.  Overall, the module will enable students to:

  • develop a working knowledge of how to account for some advanced accounting transactions at both conceptual and operational levels; and,
  • develop a critical understanding of the roles of accounting in capital markets and in resolving conflicts between contracting parties.

ILO: Module-specific skills

  • 1. describe and evaluate the accounting rules that govern business combinations, associates and joint ventures, financial instruments, assets impairments, revenue recognition, leases, income taxes, provisions and contingent liabilities;
  • 2. account for business combinations, associate and joint ventures, financial instruments, assets impairments, revenue recognition, leases, income taxes, provisions and contingent liabilities in accordance with International Financial Reporting Standards;
  • 3. discuss, synthesise and critically evaluate research on financial reporting quality;
  • 4. discuss, synthesise and critically evaluate research on accounting information and capital markets.

ILO: Personal and key skills

  • 5. critically analyse problems arising in both academic and practical contexts;
  • 6. solve both structured and unstructured problems through analytical thinking;
  • 7. communicate ideas effectively in writing.

Learning activities and teaching methods (given in hours of study time)

Scheduled Learning and Teaching ActivitiesGuided independent studyPlacement / study abroad
301200

Details of learning activities and teaching methods

CategoryHours of study timeDescription
Scheduled Learning and Teaching Activity20Lectures
Scheduled Learning and Teaching Activity10Tutorials
Guided Independent Study120Reading and preparation for tutorials, workshops and assessments

Formative assessment

Form of assessmentSize of the assessment (eg length / duration)ILOs assessedFeedback method
Problem sets1 hour per week in class discussion1-7Verbal and suggested solutions on ELE.

Summative assessment (% of credit)

CourseworkWritten examsPractical exams
20800

Details of summative assessment

Form of assessment% of creditSize of the assessment (eg length / duration)ILOs assessedFeedback method
Examination803 hours1-7Written
Group assignment202500 words1-7Written

Details of re-assessment (where required by referral or deferral)

Original form of assessmentForm of re-assessmentILOs re-assessedTimescale for re-assessment
Group assignment (20%) and Examination (80%)Examination (100%) (3 hours)1-7August assessment period

Syllabus plan

  • Business Combinations and Consolidation
  • Business Combinations and Consolidation – Advanced Issues
  • Recognition of Financial Instruments
  • Tangible and Intangible Asset Impairments
  • Revenue Recognition (IFRS 15) & Leases (IFRS16)
  • Income Taxes
  • Accounting for Provisions, Contingent Liabilities/Assets
  • Research and Critical Evaluation: Research on Financial Reporting Quality
  • Research and Critical Evaluation: Research on the Link between Financial Reporting Quality, Accounting Information and Capital Markets.

Indicative learning resources - Basic reading

In addition, a selection of academic journal articles will be made available on ELE.

Module has an active ELE page?

Yes

Indicative learning resources - Web based and electronic resources

Module ELE:  https://vle.exeter.ac.uk/course/view.php?id=140

Other useful websites:

Origin date

01/09/06

Last revision date

02/09/2020