| Unit name | Advanced Financial Reporting |
|---|---|
| Unit code | ACFIM0025 |
| Credit points | 20 |
| Level of study | M/7 |
| Teaching block(s) |
Teaching Block 2 (weeks 13 - 24) |
| Unit director | Dr. Wang |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
None |
| Units you must take alongside this one (co-requisite units) |
None |
| Units you may not take alongside this one |
None |
| School/department | School of Accounting and Finance - Business School |
| Faculty | Faculty of Social Sciences and Law |
Why is this unit important?
This unit aims to build upon the knowledge acquired in the International Financial Reporting unit. In this advanced course, we explore more intricate financial reporting topics, both technically and conceptually. Going beyond the foundational concepts covered in Teaching Block 1, this unit introduces new topics to provide students with an advanced understanding of financial reporting. Acknowledging the dynamic nature of the external financial reporting standard-setting environment, the unit remains flexible to introduce emerging topics as they arise. A key aspect of this unit is the integration of relevant academic literature, empowering students to critically assess different accounting treatments. This approach involves examining diverse accounting perspectives through the lens of various users, enhances students' analytical skills, and encourages a nuanced understanding of the complexities of financial reporting. These skills are valuable and applicable in academic contexts and professional settings, providing students with a well-rounded and practical education.
How does this unit fit into your programme of study?
This unit is situated as an optional unit in Teaching Block 2 within the Accounting group of MSc Accounting, Finance and Management. Building on the foundational knowledge provided by the prerequisite unit, this unit serves as a gateway to advanced financial reporting. In the broader context of the programme, this unit contributes to the complete learning journey and experience of financial and corporate reporting. By bridging the gap between Teaching Blocks 1 and 2, it establishes continuity and links between units, ensuring a cohesive educational experience for students. Furthermore, this unit plays a crucial role in the diversification of the programme. As an additional unit alongside Strategic Management Accounting, its equivalent in the Management Accounting area, it broadens students' exposure to different aspects of accounting and finance. This diversification enhances the overall educational value and prepares students with a well-rounded skill set to navigate the complexities of the financial world.
An overview of content
This unit aims to advance the knowledge gained in the International Financial Reporting unit (EFIMM0122). EFIMM0124 introduces new topics to provide students with an advanced understanding of financial reporting, covering areas such as accounting for income taxes, segmental reporting, earnings per share, employee benefits, share-based payments, financial instruments, and sustainability reporting.
How will students, personally, be different as a result of the unit
Students will acquire an advanced understanding of intricate financial reporting topics. The unit emphasizes the critical analysis of different accounting treatments, empowered by the integration of relevant academic literature. This focus on critical assessment enhances students' analytical skills, enabling them to evaluate diverse perspectives and solutions in the realm of financial reporting. Through exploring various accounting perspectives through the lens of different users, students will develop a nuanced understanding of the complexities inherent in financial reporting. This nuanced understanding goes beyond surface-level knowledge and encourages a deeper comprehension of the intricate elements within the field. The skills gained are not only theoretical but also practical. Students will be equipped with knowledge and abilities applicable in both academic contexts and professional settings. This practical education ensures that students are well-rounded and prepared to navigate the challenges of financial reporting in the real world.
Learning Outcomes
On successful completion of this unit, the student will be able to:
How you will learn
Teaching incorporates both lectures and smaller group tutorials, enhancing the learning experience.
Tasks which help you learn and prepare you for summative tasks (formative):
In this unit, formative assessment is designed to foster a comprehensive understanding of advanced financial reporting topics through various engaging methods. Small group tutorials will serve as the platform for formative assessment, where students will actively participate in both individual and group Multiple-Choice Questions (MCQs) tests. The formative assessment extends beyond MCQs to include application questions, demanding a combination of calculation skills and critical analysis. To facilitate peer learning and evaluation, group tasks will be incorporated into the assessment process. Tutors will provide instant feedback during tutorials, ensuring students receive timely guidance on their performance. Additionally, students will have access to extensive supportive materials on Blackboard, empowering them to independently deepen their understanding and refine their skills outside of tutorial sessions. This multifaceted approach to formative assessment aims to create a dynamic learning environment, promoting collaboration, critical thinking, and independent study.
Tasks which count towards your unit mark (summative):
2 hour Exam (100%) (LO1, LO2, LO3, LO4, LO5 and LO6)
When assessment does not go to plan
When a student fails the unit and is eligible to resubmit, failed components will be reassessed on a like-for-like basis: 2 hour exam (100%)
If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.
If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. ACFIM0025).
How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours
of study to complete. Your total learning time is made up of contact time, directed learning tasks,
independent learning and assessment activity.
See the University Workload statement relating to this unit for more information.
Assessment
The assessment methods listed in this unit specification are designed to enable students to demonstrate the named learning outcomes (LOs). Where a disability prevents a student from undertaking a specific method of assessment, schools will make reasonable adjustments to support a student to demonstrate the LO by an alternative method or with additional resources.
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit.
The Board considers each student's outcomes across all the units which contribute to each year's programme of study. For appropriate assessments, if you have self-certificated your absence, you will normally be required to complete it the next time it runs (for assessments at the end of TB1 and TB2 this is usually in the next re-assessment period).
The Board of Examiners will take into account any exceptional circumstances and operates
within the Regulations and Code of Practice for Taught Programmes.
