Financial Accounting 2
Financial Accounting 2 2022-23
Bangor Business School
Module - Semester 2
The content may include but will not be limited to demonstrating an understanding of the following: Accounting policies; Restatement of prior period results; Accounting for the disposal of subsidiaries and accounting for discontinued operations; Joint ventures; Statements of cash flow; Accounting for foreign currency transactions and translation; Earnings per share; Limitations of financial statements and creative accounting.
-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives.
-good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills.
-excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills.
-another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.
- Apply a critical and analytical approach to accounting and the development of accounting and financial reporting standards.
- Demonstrate an understanding of the financial statements by preparing individual and consolidated financial statements, including joint ventures and foreign currency adjustments, in accordance with international accounting and financial reporting standards. Demonstrate application of ratios to demonstrate an understanding of the financial health of the financial statements.
- Evaluate the limitations of financial reporting and the problem of creative accounting.
- Understand the objective, appraise the development and application of international accounting and financial reporting standards in relation to the disclosure of accounting policies, restatement of results, discontinued operations, statements of cash flow and foreign currency.
- Understand, apply and discuss the accounting adjustments and disclosures required when a company disposes of its investment in another company.
S2 Examination 2 hrs
Class Test: short written and computational questions