STRATEGIC BUSINESS REPORTING

SHE Level 5
SCQF Credit Points 30.00
ECTS Credit Points 15.00
Module Code MMN426602
Module Leader Alison Lehane
School Glasgow School for Business and Society
Subject Finance and Accounting
Trimester
  • B (January start)

Summary of Content

This module requires students to examine corporate reporting from the perspective of a wide range of stakeholders, such as shareholders and providers of finance. Students will assess and evaluate on the reporting decisions made by management and the implications this would have on stakeholders. Students will be required to reflect on the usefulness of corporate reports including developments in narrative reporting such as integrated reporting and discuss the nature of the information that would help stakeholders assess the future financial prospects of an entity. The final part of the module will address current developments and potential changes in corporate reporting and the implications of these on the different stakeholders. IASB's International Financial Reporting Standards (IFRS) and the IFRS framework will underpin the syllabus.

Syllabus

Fundamental ethical and professional principles; professional behaviour and compliance with accounting standards, ethical requirements of corporate reporting and the consequences of unethical behaviour. The financial reporting framework including the applications, strengths and weaknesses of the accounting framework. Reporting the financial performance of a range of entities; revenue, non-current assets, financial instruments, Leases, employee benefits, Income taxes, provisions, contingencies and events after the reporting date. share-based payment, fair Value Measurement, reporting requirements of small and medium-sized entities (SMEs) other current reporting issues. Financial statements of groups of entities; group accounting including statements of cash flows, associates and joint arrangements, changes in group structures, foreign transactions and entities. Interpret financial statements for different stakeholders; analysis and interpretation of financial information and measurement of performance. The impact of changes and potential changes in accounting regulation.

Learning Outcomes

On successful completion of this module students should be able to:1. Apply fundamental ethical and professional principles to ethical dilemmas and discuss the consequences of unethical behaviour. 2. Evaluate the appropriateness of the financial reporting framework and critically discuss changes in accounting regulation from a theoretical and practical perspective.3. Apply professional judgement in the reporting of the financial performance of single entities, groups, public sector entities and not-for profit entities.4. Prepare the financial statements of groups of entities.5. Interpret financial statements for different stakeholders.6. Communicate the impact of changes and potential changes in accounting regulation on financial reporting.

Teaching / Learning Strategy

The programme is focused on the development of both theoretical and practical accountancy and business skills, and aims to engage students in analysis, research and discussion of contemporary, real life issues. The teaching and learning strategy aims to embed these attributes. All of the modules will be delivered on a campus-based and distance learning mode. For campus-based students, face to face contact involves four hours of class contact per week: normally a 2 hour lecture and 2 hour seminar. Lectures will be used to highlight the key issues in a specific topic and point the way towards relevant journal articles and other appropriate literature. Students will be then expected to prepare for following week's lectures on each topic by engaging in literature searches, undertaking relevant reading and preparing responses to questions. The lectures will adopt a variety of teaching styles including seminar style contributions such as group discussion to enhance intellectual, critical and analytical skills. For more applied topics, students will be required to attempt relevant problem or scenario based questions prior to the lectures taking place, providing the basis for deepening professional skills, knowledge and understanding. Module classes are conducted in workshop format providing a mix of tutor led, student led and group learning. Distance learning students access the same resources as on-campus. All students are provided with lecture slides, lecture notes and additional reading all of which is available online. GCU Learn is used in this way as a repository, to provide students with essential learning material. It is also used as a platform for student discussion around the weekly seminar topics. Using Padlet, wikis and blogs both on-campus and distance students will have the opportunity to engage with each other and discuss the weekly lecture topics online. In additional Collaborate Ultra is utilised to provide students with synchronous learning opportunities and provide more directed support throughout the module. Students are provided with formative and summative feedback via a variety of mechanisms. Feedback on coursework is provided within 3 working weeks of submission. At the end of the module, students will be provided with 12 hours of revision classes to prepare them for their ACCA 'strategic professional' exam. Students will be required to undertake two courseworks, which will require them to produce reports relating to corporate performance and to evaluate proposed changes to reporting financial performance. Students will be required to examine current issues, identifying any issues/deficiencies that led to proposed changes. The courseworks will have a greater emphasis on narrative than numerical answers, ensuring students are assessed on their understanding of the various topics. Courseworks have been designed to adequately prepare students for their ACCA exams.

Indicative Reading

Strategic Business Reporting (latest edition): Kaplan Publishing, London Nobes, C and Parker, R (latest edition), Comparative International Accounting, Pearson, Harlow Alexander, D, Britton, A and Jorissen A (latest edition), International Financial Reporting and Analysis, Thomson, London Melville, A (latest edition), International Financial Reporting, Prentice Hall, Harlow Roberts, C, Weetman, P and Gordon, P (latest edition), International Corporate Reporting, Prentice Hall, Harlow. Extensive use will be made of journal articles from, for example: Accounting and Business Research Accounting, Organizations and Society Accounting Auditing and Accountability Journal Critical Perspectives on Accounting European Accounting Review Journal of International Accounting Auditing and Taxation.

Transferrable Skills

At the end of this module students will have developed their critical and analytical skills, problem solving skills, report writing skills and self- management skills, communication skills through peer to peer discussion

Module Structure

Activity Total Hours
Independent Learning (FT) 184.00
Seminars (FT) 32.00
Tutorials (FT) 12.00
Assessment (FT) 40.00
Lectures (FT) 32.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 50.00 45% Scenario based, case study questions and essay
Course Work 02 n/a 50.00 45% Scenario based, case study questions and essay