FINANCIAL ACCOUNTING 2

SHE Level 2
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code M2N425748
Module Leader Alison Lehane
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimester
  • A (September start)

Pre-Requisite Knowledge

Financial and Management Accounting A

Summary of Content

The emphasis in this module is on the understanding and application of the international requirements for financial reporting including knowledge of underlying principles and concepts. The conceptual framework is applied in the preparation and evaluation of information in financial reports, using international accounting standards.

Syllabus

Introduction to published accounts Tangible non-current assets Intangible assets Impairment of assets Non-current assets held for sale and discontinued operations A conceptual and regulatory framework Leases Substance over form Financial assets and financial liabilities Revenue recognition Provisions, contingent assets and contingent liabilities Deferred tax Earnings per share Interpretation of financial statements Statement of cash flows Convergence of international accounting standards

Learning Outcomes

On successful completion of this module, the student should be able to:1. Discuss and apply a conceptual and regulatory framework for financial reporting2. Account for transactions in accordance with international accounting standards3. Apply international accounting standards in the preparation of financial statements for single entities4. Analyse, interpret and evaluate financial statement information

Teaching / Learning Strategy

The material covered in both lectures and seminars includes a computational element and an analytical and discursive element. Topics will be introduced in lectures; the work for seminars is designed to provide opportunities for applying and developing practical skills and a forum for discussion of international financial reporting issues. For seminars students will be required to work both independently and in groups. GCU Learn is used to support learning activities. GSBS will continue to use the advancement of GCU Learn as a blended learning tool through its teaching and learning as well as through engagement with students. GSBS will ensure that all modules are GCU Learn enabled and with the support of the Learning Technologists at the cutting edge of development of online materials. Academic staff and the Learning Technologists will continue to work together to develop and operate all modules on GCULearn to ensure student support and information sharing. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission.

Indicative Reading

ACCA Financial Reporting (FR), 2018. Kaplan Publishing Ltd. Bebbington, J., Gray, R. & Laughlin, R. 2017. Financial accounting: practice and principles . South-Western/Cengage. Davies, T., Crawford, I.P., PDA Dawsonera & PDA Dawsonera. 2012 , Financial accounting . Financial Times Prentice Hall, Harlow. Collings, S. 2018. IFRS for Dummies . John Wiley & Sons Canada Limited. Alexander, D., Britton, A. & Jorissen, A. 2017. International financial reporting and analysis . Andover; Cengage Learning. Elliott, B., Elliott, J., 2018 . Financial accounting and reporting: Barry Elliott and Jamie Elliott. Harlow: Financial Times Prentice Hall .

Transferrable Skills

By the end of this module students will have gained competence in the following key areas: Analytical and written communication skills.

Module Structure

Activity Total Hours
Seminars (FT) 18.00
Practicals (FT) 6.00
Independent Learning (FT) 144.00
Lectures (FT) 12.00
Assessment (FT) 20.00

Assessment Methods

Component Duration Weighting Threshold Description
Sage 1.00 30.00 35% Sage
Exam (Exams Office) 2.00 70.00 35% 2 Hour unseen examination