Run by Bangor Business School - (Changsha)

10.000 Credits or 5.000 ECTS Credits

Semester 1

Organiser: Ms Wendy Ashurst

NOTE: If you are registered for BA/BSc Accounting and Finance, you must achieve a grade of at least 40% in this module in order to proceed to Year 3.

To provide advanced coverage of financial accounting and financial reporting, by examining the objectives and contents of selected key international accounting and financial reporting standards. The focus will be on the presentation of financial statements for publication, consolidated financial statements for groups of companies, equity accounting for associated companies, and tangible and intangible non-current and current assets. In each case current international accounting standards will be critically examined in the context of the range of accounting methods available.

Presentation of financial statements under international accounting standards; accounting for inventory; property, plant & equipment, including investment property; government grants; borrowing costs; intangible assets; impairment of assets; legal requirements of group accounting and preparation of financial statements for groups; accounting for associated companies.

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.

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.

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.

C- to C+

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.

1. Understand the objective, development and application of international accounting and financial reporting standards in relation to the presentation of financial statements, non-current assets, and inventory.

2. Prepare consolidated financial statements, including associates, in accordance with international accounting and financial reporting standards.

3. Apply a critical and analytical approach to accounting and the development of accounting and financial reporting standards.

4. Understand the different types of relationships that can exist when a company invests in another company, including associates and subsidiaries, and apply the appropriate accounting methods.

Type	Name	Description	Weight
	S1 Examination		60.00
	Class Test		40.00

		Hours
Lecture	Classroom lectures, including the use of worked examples to demonstrate accounting computations.	20
Private study	Self-study, to include: - reading; - preparation towards lectures and tutorials; - practising and working on lecture and tutorial material; - practising and answering additional questions, including past exam papers and class tests, textbooks etc.; and - preparation towards the exam and class test.	75
Workshop	Computational workshops, using pre-set examples.	5

• Literacy - Proficiency in reading and writing through a variety of media
• Numeracy - Proficiency in using numbers at appropriate levels of accuracy
• Self-Management - Able to work unsupervised in an efficient, punctual and structured manner. To examine the outcomes of tasks and events, and judge levels of quality and importance
• Exploring - Able to investigate, research and consider alternatives
• Information retrieval - Able to access different and multiple sources of information
• Inter-personal - Able to question, actively listen, examine given answers and interact sensitevely with others
• Critical analysis & Problem Solving - Able to deconstruct and analyse problems or complex situations. To find solutions to problems through analyses and exploration of all possibilities using appropriate methods, rescources and creativity.
• Argument - Able to put forward, debate and justify an opinion or a course of action, with an individual or in a wider group setting
• Self-awareness & Reflectivity - Having an awareness of your own strengths, weaknesses, aims and objectives. Able to regularly review, evaluate and reflect upon the performance of yourself and others

Resource implications for students

Students are advised to purchase the core textbook for the course.

Talis Reading list

http://readinglists.bangor.ac.uk/modules/asb-2715.html

Reading list

Core textbook: Elliott, B. & Elliott, J. 2019. Financial Accounting and Reporting. 19th Edition, Pearson.

Compulsory in courses:

• N405: BSc Accounting & Finance (Bangor College, China) year 2 (BSC/AFBC)