Rhedir gan Bangor Business School

10.000 Credydau neu 5.000 Credyd ECTS

Semester1

Trefnydd: Dr Sara Closs-Davies

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; intangible assets; impairment of assets; legal requirements of group accounting and preparation of financial statements for groups; accounting for associated companies.

trothwy

D- to D+ Basic techniques of accounting or financial statement preparation are shown but significant errors are made in accounting or in the final financial statements. Conceptual issues are covered in a superficial way with only limited additional material shown beyond the lecture content.

dda

B- to B+ Techniques used in accounting and financial statement preparation are fully shown but with some errors made in the detail of the computation. Final accounts and financial statements are substantially correct, but may contain a few errors. Conceptual awareness is shown beyond the basic level with evidence of some reading and development of ideas outside lecture material, but still with some misunderstanding not of a fundamental nature.

rhagorol

A- to A* Accounting and financial statement preparation shows full competence at the technical level, with correct or substantially correct accounts, disclosures and financial statements. There is demonstration of reading and thorough understanding at the conceptual level, with very few examples of misunderstanding.

C- i C+

C- to C+ A sound grasp of the techniques of accounting or financial statement preparation are shown but some errors are made in accounting or in the final financial statements. Conceptual issues are covered well, but with some misunderstanding, with use of additional material shown beyond the lecture content.

1. Compare and contrast 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.

2. Be able to critique the objectives, development and application of international accounting and financial reporting standards in relation to the presentation of financial statements, non-current assets, and inventory.

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

4. Develop a critical and analytical approach to accounting and the development of accounting and financial reporting standards.

Math	Enw	Disgrifiad	Pwysau
EXAM	End of semester exam	End of semester exam which assesses any area of the module's syllabus. The exam requires both computational and narrative work, but is mainly computational.	100.00

		Oriau
Workshop	Workshops are an opportunity to work through practice questions and discuss elements of the module's syllabus. There are five workshops during the semester.	5
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, textbooks etc.; and - preparation towards the exam.	75
Lecture	One 2-hour lecture per week which will include the use of worked examples to demonstrate accounting computations.	20

• 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 sentistevely 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

• knowledge of some of the contexts in which accounting can be seen as operating (examples of contexts include the legal, ethical, social and natural environment; the accountancy profession; the business entity; the capital markets; the public sector)
• knowledge of the main current technical language and practices of accounting (for example, recognition, measurement and disclosure in financial statements; managerial accounting; auditing; taxation) in a specified socio-economic domain
• knowledge of some of the alternative technical languages and practices of accounting (for example, alternative recognition rules and valuation bases, accounting rules followed in other socio-economic domains, alternative managerial accounting approaches to control and decision-making)
• skills in recording and summarising transactions and other economic events; preparation of financial statements; analysis of the operations of business (for example, decision analysis, performance measurement and management control); financial analysis and projections (for example, analysis of financial ratios, discounted cash flow analysis, budgeting, financial risks)
• knowledge of contemporary theories and empirical evidence concerning accounting in at least one of its contexts (for example, accounting and capital markets; accounting and the firm; accounting and the public sector; accounting and society; accounting and sustainability) and the ability to critically evaluate such theories and evidence age
• An ability to interpret financial data including that arising in the context of the firm or household from accounting statements and data generated in financial markets. The interpretation may involve analysis using statistical and financial functions and procedures such as are routinely available in spreadsheets (eg Microsoft Excel) and statistical packages. It may assume the skills necessary to manipulate financial data and carry out statistical and econometric tests (e.g. estimation and interpretation of asset pricing models; financial modelling and projections; event studies and residuals analysis; elements of time series analysis, such as serial correlation mean reversion, and stochastic volatility).
• Ability to work with people from a range of cultures.
• Articulating and effectively explaining information.
• Conceptual and critical thinking, analysis, synthesis and evaluation.
• Self-management: a readiness to accept responsibility and flexibility, to be resilient, self-starting and appropriately assertive, to plan, organise and manage time.

Goblygiadau o ran adnoddau ar gyfer myfyrwyr

Students will either have to purchase the core text book or loan it from the library.

Rhestr ddarllen Talis

http://readinglists.bangor.ac.uk/modules/asb-3515.html

Rhestr ddarllen

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

Cydofynion

• ASB-3517: Financial reporting 2

Opsiynol mewn cyrsiau:

• N107: BA Business year 3 (BA/BUS)