| Unit name | Advanced Corporate Reporting |
|---|---|
| Unit code | ACFI30003 |
| Credit points | 20 |
| Level of study | H/6 |
| Teaching block(s) |
Teaching Block 1 (weeks 1 - 12) |
| Unit director | Mrs. Sam Bell |
| Open unit status | Not open |
| Units you must take before you take this one (pre-requisite units) |
EFIM20007 Financial Accounting |
| 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?
Corporate reporting is intended to communicate information about the performance and position of an organisation to interested external stakeholders. This information can help stakeholders make decisions, for example in relation to investment and financing decisions, supplier and customer relationships and employment. Traditionally corporate reporting has focused on financial performance and position. Modern corporate reporting takes a wider perspective and discloses non-financial information such as environmental, social and governance metrics, risks and opportunities to allow stakeholders to have a more holistic picture of the entity. Non financial information is of increasing importance to stakeholders in our modern anthropocene where matters of climate and environment are becoming paramount as countries enact legislate to meet net zero targets. Numerous accounting scandals have shown that when corporate reporting quality is poor, misleading or fraudulent there can be a significant detrimental impact on not only investors and lenders but also the wider economy and communities. Corporate reporting standards play a part in reducing the information asymmetry between managers and stakeholders which can be a cause of poor reporting quality. Knowledge and understanding of corporate reporting is therefore an essential skill not only for preparers of corporate reports but likewise for users of corporate reports (analysts, investors, providers of finance, government regulators).
How does this unit fit into your programme of study?
This unit builds on the knowledge, methods and techniques introduced in your introductory first year accounting studies and the pre-requisite Financial Accounting unit to progress to more challenging and complex topics that preparers of financial statements for larger organisations may encounter. The unit is mandatory for students on Accounting programmes to demonstrate core accounting disciplinary competency. The unit develops skills and understanding that would be relevant for a wide range of careers not only in accounting but in wider business related fields.
An overview of content
This unit progresses from material covered in Financial Accounting by examining some of the more advanced areas of IFRS (International Financial Reporting Standards) for example revenue, deferred tax, employee benefits and financial instruments. We advance the group accounting methods covered in the pre-requisite unit Financial Accounting to cover more complex techniques. We consider whether IFRS-based financial reporting is fit for purpose and study selected current developments in corporate reporting.
How will students, personally, be different as a result of the unit
Your knowledge of financial reporting will be more sophisticated and critical with a greater awareness of current reporting practices and challenges. You will be able to evaluate complex information and use reasoned arguments when presenting their findings.
Learning outcomes
Upon successful completion of the unit, you will be able to:
The content of the unit will be delivered in lectures spread over the duration of the unit. Due to the technical nature of much of the course content the lectures will include many scenario-based examples which will be demonstrated in the lecture to help develop understanding of the methods and techniques required for competence. Exercise lectures will encourage further practice of these methods and techniques by using additional scenarios, past exam questions and in class quizzes to provide feedback on your application and understanding of lecture topics in an interactive way. In the tutorials you will be expected to engage in discussion of your prepared work with your peers in small groups to develop your understanding and can receive further verbal feedback and clarification from your tutor.
Tasks which help you learn and prepare you for summative tasks (formative):
A variety of formative tasks which will help you prepare for the coursework will be available – these may be delivered through activities in class, asynchronous online activities or via consultation with teaching staff. You will be encouraged to review and reflect on their coursework drafts. Opportunities to receive feedback on the development of your coursework will be available and may include written, verbal and peer feedback delivered in person or online. Practical tutorial preparation work should be completed weekly and brought to the tutorial class for verbal feedback from your tutor and peers. Suggested answers to tutorial work and additional exam style questions will be made available to you for self-assessment online.
Tasks which count towards your unit mark (summative):
When assessment does not go to plan
As this is a final year unit reassessment is not normally permitted.
Where a student does not sit the exam component in the standard assessment period an equivalent reassessment will be offered in the same format in the next available assessment period and carry the same weighting.
Where a student does not contribute to the group project, at the discretion of the exam board an alternative individual assessment weighted at 20% of the overall mark may be offered.
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. ACFI30003).
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.
