Run by Bangor Business School - (Changsha)

10.000 Credits or 5.000 ECTS Credits

Semester 1 & 2

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 further 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 selction and disclosure of accounting policies, accounting for joint ventures, the disposal of subsidiaries, statements of cash flows, foreign currency translation, and earnings per share. In each case current international accounting standards will be critically examined in the context of the range of accounting methods available. The course will conclude by examining the limitations of current financial reporting and the problem of creative accounting.

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.

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.

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.

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.

1. 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.

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

3. Understand, apply and discuss the accounting adjustments and disclosures required when a company disposes of its investment in another company.

4. 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.

5. Evaluate the limitations of financial reporting and the problem of creative accounting.

Type	Name	Description	Weight
	S2 Examination 2hrs		70.00
	Class Test: MCQ		30.00

		Hours
Tutorial	Recorded tutorial: computational + theory, using pre-set examples.	5
Lecture	Classroom lectures, including the use of worked examples to demonstrate accounting computations.	20
Private study	Guidance to appropriate reading, and the use of computational examples to practice accounting and financial reporting.	73
Workshop	Discussing in more detail some of the points from the lectures and working through exam scenario questions.	2

• Literacy - Proficiency in reading and writing through a variety of media
• Numeracy - Proficiency in using numbers at appropriate levels of accuracy
• Computer Literacy - Proficiency in using a varied range of computer software
• 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.
• Presentation - Able to clearly present information and explanations to an audience. Through the written or oral mode of communication accurately and concisely.
• 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-2716.html

Reading list

Core textbook: Elliott, B. & Elliott, J. 2015. Financial Accounting and Reporting.Harlow, Pearson.

Compulsory in courses:

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