| Module Code: MANM201 |
Module Title: INTERNATIONAL FINANCIAL REPORTING |
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Module Provider: School of Management
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Short Name: MANM201
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Level: M
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Module Co-ordinator: GOUNOPOULOS D Dr (SoM)
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Number of credits: 15
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Number of ECTS credits: 7.5
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| Module Availability |
| Spring |
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| Assessment Pattern |
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Unit(s) of Assessment
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Weighting Towards Module Mark (%)
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Assignment
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30
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Three part examination
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70
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| Module Overview |
| The implementation of Internationl Financial Reporting Standards (IFRS) is the UK from January 2005 marked the start of an intensively interesting and challenging period for those involved in preparing or using the annual report and financial statements of listed UK companies. It also brought a challenge for those involved in accounting education, namely how to ensure that our students understand and can apply the approach represented in IFRS while still being aware that many organizations in the UK will continue to follow the UK tradition as set out in company law and UK accounting standards. For listed companies, in their group accounts, IFRS are mandatory. For all other companies the use of IFRS is a matter of choice with the alternative being to cling to the UK tradition. For unincorporated businesses and for the public sector the prospect of IFRS related practice is probably still some way into the future. |
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| Prerequisites/Co-requisites |
| None |
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| Module Aims |
| To provide a balanced and comprehensive framework to enable students to acquire the requisite knowledge and skills to appraise current practice critically and to evaluate proposed changes from a theoretical base. |
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| Learning Outcomes |
On successful completion of International Financial Reporting module, the students will be able to:
- Understand the application of International Financial Reporting Standards in the preparation of such annual reports
- Appreciate the role of company financial reporting in the context of international capital markets
- Understand the links between company law and financial reporting requirements, in an international context
- At an introductory level, understand and apply the links between accounting data an company valuation, through the use of ratio analysis and benchmarking. This topic will be pursued at a more advanced level in the Level 3 course 'Financial Statement Analysis'.
- Apply information technology (internet, financial databases, spreadsheets), to obtaining analysing company financial reports
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| Module Content |
- Evolution of International Standards
- Annual reports of listed companies
- The application of International Financial Reporting Standards in the preparation of such annual reports
- Capital structure of listed firms
- The need for corporate governance guidelines
- Environmental and social reporting
- Review of financial ratio analysis reporting
- Share capital, distributable profits and reduction of capital
- The role of company financial reporting in the context of international capital markets
- The links between company law and financial reporting requirements, in an international context
- The links between accounting data and company valuation, through the use of ratio analysis and benchmarking
- Introduction to financial reporting in the internet
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| Methods of Teaching/Learning |
The teaching and learning methods include:
- The provision of tutorial seminars to supplement lectures
- Practical exercises
- Coursework focussed on problem solving exercises and technically demanding case studies
- Making lecture notes available to students
- Support of lecture material by directed reading in selected textbooks, etc
- 'Open door' policy of tutor to help students requesting it
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| Selected Texts/Journals |
Expected purchase
Accounting and Business Valuation Methods (How to interpret IFRS accounts); Malcolm Howard Elsevier (CIMA publishing) ISBN: 978 0 7506 8468 2
Recommended purchase
Elliot, B. & Elliott, J. (2005), Financial Accounting, Reporting and Analysis: International Edition, 2nd Edition, Financial Times Prentice Hall, ISBN 027370253X, £40.49
Supporting texts
Alexander, D., and A. Jorissen (2005), International Financial Reporting and Analysis, 3rd Edition, Thomson Learning, ISBN 1-84480-6685, Price £37.99
Collins, D., W. Bruce Johnson and L. Revsine (2005), Financial Reporting and Analysis, 3rd Edition, Prentice Hall, ISBN 0-13-143021-1, Price £50.34
Elliot, B. & Elliot, J. (2006), Financial Accounting and Reporting, 10th Edition, Financial Times Prentice Hall, ISBN 0 273 70364 1, Price £37.04, Amazon from £33.99
Gibson, C., P. Frishkoff (2004), Financial Reporting and Analysis: Using Financial Accounting Information, South Western Publication, ISBN 0324023537, Price £35
Hussey, R. & Ong, A. (2005), International Financial Reporting Standards Desk Reference: Overview, Guide, and Dictionary, John Wiley and Sons, ISBN 978-0-471-71450-71, Price £42.50,
Mirza, A., G. Holt, O. Magnus and D. Tweedis (2007), International Financial Reporting Standards (IFRS) Workbook and Guide: Practical insights, Case Studies, Multiple-choice questions, Illustrations, 3rd Edition, John Wiley and Sons, ISBN 978-0471697429, Price £22
Roberts, C., P. Weetman and P. Gordon (2005), International Finance Accounting: A Comparative Approach, 3rd Edition, Financial Times Prentice Hall, ISBN 0273681184, Price £38, Amazon, £14.98
Sutton, T., (2003), Corporate Financial Accounting and Reporting, 2nd Edition, Prentice Hall, ISBN 0273676202, Price £29.99
Stickney, C., P. Brown and J. Walen (2006), Financial Reporting and Statement Analysis: A Strategic Perspective, 5th Edition, Thomson Learning, ISBN 0324302959, Price £84
Stolowy, H., and M. Levas (2006), Financial Accounting and Reporting: A Global Perspective 2nd Edition, Thomson Learning, ISBN 1844802507, Price £37.99
Walton, P., and W. Aerts (2006), Global Financial Accounting and Reporting: Principles and Analysis, Thomson Learning, ISBN 1844802655, Price £37.99
ACCA (2007), Paper F7, Financial Reporting (UK), BPP Learning Media, ISBN 0751732931, Price £27
Articles and other material from the financial pages of newspapers
Annual reports |
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| Last Updated |
| 7/11/2008 |
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