MMM063-International Financial Reporting 2

Module Provider: Business Informatics, Systems and Accounting
Number of credits: 20 [10 ECTS credits]
Level:7
Terms in which taught: Spring term module
Pre-requisites:
Non-modular pre-requisites:
Co-requisites: MMM062 International Financial Reporting 1
Modules excluded:
Current from: 2022/3

Module Convenor: Dr Renata Stenka
Email: r.i.stenka@henley.ac.uk

Type of module:

Summary module description:

This module develops further students’ knowledge and understanding of international financial reporting and the relevant regulatory and institutional framework of financial accounting. It also covers performative aspects of financial disclosure.Ìý

Aims:

This module aims to develop further students’ critical knowledge and understanding of decision-useful stakeholder-related financial reporting by considering further examples of the financial reporting principles and methods that underlie the preparation of financial reports in an international context. It also aims to place accounting in a broader social and institutional context.Ìý

Assessable learning outcomes:

By the end of the module is it expected that the student will be able to:Ìý

1. Understand and apply relevant international accounting standardsÌýwith regards to more complex transactions


2. Appreciate and understandÌýthe broader political, institutional, and social context of financial reportingÌý


3. Knowledge and understanding of the controversies surrounding recent financial reporting developmentsÌý


4. Appreciation of the inherent subjectivity of financial disclosure.ÌýÌýÌýÌýÌý

Ìý

Intended learning outcomes:Ìý

1. Discuss the development ofÌýa number ofÌýinternational financial reporting standards that cause controversy.Ìý


2. Describe, apply, and critically evaluate the contents of such standardsÌý


3. Critically evaluate various academic arguments relating to the content of accounting standards and the politics of accounting standard setting processÌý


4. Analyse, summarise and synthesise selected relevant academic and professional literature.Ìý


5. Critically evaluate and challenge established dogmas in the relevant body of knowledge.

Additional outcomes:

The module also aims to encourage the development of oral communication skills, and the students’ effectiveness in group situations. Structured activities are designed to develop independent learning skills. Students are encouraged to develop additional IT skills by use of relevant web resources and communication techniques, including Blackboard.Ìý

Outline content:

Outline content: Further aspects of accounting for assets and liabilities Prepare and critique group accounting (including subsidiaries, associates and joint ventures) Appreciate the inherent subjectivity and thus performativity of financial disclosure Understand the institutional and political context of accounting regulations Recognize and appreciate implications of rhetoric in accounting regulatory field Ìý Appreciate the social and environmental impact of business activities and its implications for financial reporting Identify and critically analyse creative accountingÌýmanoeuvres Evaluate recent financial reporting innovations including integrated reports and sustainability reportingÌý Ìý

Global context:

Focus on global financial accounting and reporting regulations and institutional developments.ÌýÌý

Contributions from the international academic and professional speakers.

Brief description of teaching and learning methods:

Lectures will be used for the exposition of the major concepts, principles, and techniques under consideration. Workshops will be used for case studies, practical applications and student-led presentations or discussions. The input from external speaker(s) will provide international and interdisciplinary context to the module delivery.Ìý

Contact hours:

Ìý	Autumn	Spring	Summer
Lectures		22
Tutorials		16
Guided independent study:	Ìý	Ìý	Ìý
Ìý Ìý Wider reading (independent)		43
Ìý Ìý Wider reading (directed)		12
Ìý Ìý Exam revision/preparation		10
Ìý Ìý Preparation for tutorials		20
Ìý Ìý Completion of formative assessment tasks		5
Ìý Ìý Revision and preparation		12	56
Ìý Ìý Reflection		4
Ìý	Ìý	Ìý	Ìý
Total hours by term	0	144	56
Ìý	Ìý	Ìý	Ìý
Total hours for module	200

Summative Assessment Methods:

Method	Percentage
Written exam	80
Class test administered by School	20

Summative assessment- Examinations:

One 2 hour closed book unseen written exam in the Summer term.Ìý

The examination for this module will require a narrowly defined time window and is likely to be held in a dedicated exam venue.

Summative assessment- Coursework and in-class tests:

One 1hÌýmid-term test in the spring term in weekÌý27.Ìý

Formative assessment methods:

Group work based on real life accounting practice case studies.

Penalties for late submission:

Penalties for late submission on this module are in accordance with the University policy. Please refer to page 5 of the Postgraduate Guide to Assessment for further information: http://www.reading.ac.uk/internal/exams/student/exa-guidePG.aspx

Assessment requirements for a pass:

A weighted average mark of coursework and examination of 50%.Ìý

Reassessment arrangements:

By examination only (one 2-hour unseen written paper) in August/September. MCQ will not be included in the re-assessment.Ìý

Additional Costs (specified where applicable):

Cost	Amount
Required text books -ÌýElliot, B. and Elliot, J. Financial Accounting and Reporting 20th Edition, Pearson, 2022	Approx. £50

Last updated: 22 September 2022