The aim of the course is to enable students to understand and interpret the financial statements, and other elements of the annual report, produced by organisations for external users.
*Curricular information is subject to change
The Conceptual and Regulatory Frameworks of Accounting
- The conceptual framework of accounting
- The users of financial statements and their uses of the information.
- The characteristics of useful financial information.
- The effects of the regulatory framework on the interpretation of financial statements.
Financial Statements
- The terminology used in published financial statements.
- The major features of key narrative elements included in the annual report and the significance of the information contained within them.
Financial Analysis
- Preparation of relevant financial ratios to assess the financial performance and position of an organisation.
Statement of Cash Flows
- Analysis of the information contained in a Statement of Cash Flows.
- Cash flow versus profit.
Financial Reporting Standards
- The key requirements of a selection of core financial reporting standards.
Groups of companies
- The basic principles of the preparation of group accounts.
- The differences between group accounts and the financial statements of a single company.
- Simplified group accounts from the financial statements of a parent company and subsidiary.
Audit
- The role of the external auditor.
- The status and content of the report of the external auditor to the members.
- The role and function of the internal audit department, versus the role of the external auditor.
Corporate Social Responsibility (CSR) Reporting
- The status and content of CSR reports.
Formal lectures to gain an informed understanding of the underlying theory and regulatory requirements
Case study and worked examples to ensure a high level of professional skill in the practical application of the theory
Class and group discussions to develop skills in critical evaluation.
Module Content & Assessment | |
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Assessment Breakdown | % |
Formal Examination | 70 |
Other Assessment(s) | 30 |