ULMS Electronic Module Catalogue |
The information contained in this module specification was correct at the time of publication but may be subject to change, either during the session because of unforeseen circumstances, or following review of the module at the end of the session. Queries about the module should be directed to the member of staff with responsibility for the module. |
Title | ADVANCED FINANCIAL ACCOUNTING & REPORTING, AND MANAGEMENT ACCOUNTING | ||
Code | ECON821 | ||
Coordinator |
Dr S Ahmad Finance and Accounting Sardar.Ahmad@liverpool.ac.uk |
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Year | CATS Level | Semester | CATS Value |
Session 2019-20 | Level 7 FHEQ | First Semester | 15 |
Pre-requisites before taking this module (other modules and/or general educational/academic requirements): |
Modules for which this module is a pre-requisite: |
Programme(s) (including Year of Study) to which this module is available on a required basis: |
Programme(s) (including Year of Study) to which this module is available on an optional basis: |
Teaching Schedule |
Lectures | Seminars | Tutorials | Lab Practicals | Fieldwork Placement | Other | TOTAL | |
Study Hours |
25 |
10 |
35 | ||||
Timetable (if known) | |||||||
Private Study | 115 | ||||||
TOTAL HOURS | 150 |
Assessment |
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EXAM | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Examination There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester one | 120 minutes. | 70 | ||||
CONTINUOUS | Duration | Timing (Semester) |
% of final mark |
Resit/resubmission opportunity |
Penalty for late submission |
Notes |
Individual written assignment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester one | 2000 words | 30 |
Aims |
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This module aims to: Provide students with an in-depth understanding of the conceptual principles and key techniques of financial reporting nd management accounting practices. Enable students to understand the key elements of financial reporting systems set out in International Financial Reporting Standards with particular reference to the preparation and interpretation of financial statements. Prepare students to identify the key stakeholders of businesses, and develop a framework for understanding and evaluating their main interests and accounting information needs, related to business operations. Develop students’ knowledge and understanding of the roles of management accounting information in planning, coordination, decision making, control, performance measurement, and business strategy. Develop critical financial reporting and management accounting skills, explore the roles of both financial reporting and management accounting in assessing financial performance, and explain the main contemporary issues for organisations. |
Learning Outcomes |
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(LO1) Acquire knowledge of a range of tools and techniques related to financial reporting and management accounting concepts, necessary for establishing organisational objectives. |
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(LO2) Understand and appraise the main elements of companies’ fundamental financial statements prepared in accordance with the regulatory structure of International Financial Reporting Standards [IFRS]. |
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(LO3) Prepare and interpret financial statements, including, statement of profit or loss, statement of financial position, statement of changes in equity, and statement of cash flows. |
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(LO4) Comprehend and appraise the regulatory requirements contained within the key IFRS covering, assets, liabilities, income and expenses, and be able to apply these in evaluating published financial statements and produce written reports. |
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(LO5) Analyse and interpretcompanies’ management accounting information for planning, coordination,decision making, performance measurement, control, and business strategy. |
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(S1) Adaptability |
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(S2) Problem solving skills |
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(S3) Commercial awareness |
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(S4) Teamwork |
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(S5) Organisational skills |
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(S6) Communication skills |
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(S7) International awareness |
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(S8) Lifelong learning skills |
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(S9) Ethical awareness |
Teaching and Learning Strategies |
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Teaching Method 1 - Lecture Teaching Method 2 - Tutorial |
Syllabus |
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An introduction to the Current Regulatory Structure and Financial Accounting System Preparation of Financial Statements Income and Asset Value Measurements Systems Statement of Financial Position – Equity, Liability and Asset and Liability Measurement and Disclosure in Financial Statements Corporate Social Responsibility, Accountability, Governance and Ethics Introduction to Management Accounting Systems and its Role in Contemporary Organisations The Balanced Scorecard and Business Strategy Costs Management Concepts, Accumulating and Assigning Costs to Products and Services Activity-Based Cost Systems Using Budgets for Planning, Control and Co-ordination Financial Control: Decentralisation, Performance Measurement, and Transfer Pricing |
Recommended Texts |
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Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module. |