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
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

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

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

(LO1) Acquire knowledge of a range of tools and techniques related to financial reporting and management accounting concepts, necessary for establishing organisational objectives.

(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].

(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.

(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.

(LO5) Analyse and interpretcompanies’ management accounting information for planning, coordination,decision making, performance measurement, control, and business strategy.

(S1) Adaptability

(S2) Problem solving skills

(S3) Commercial awareness

(S4) Teamwork

(S5) Organisational skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness


Teaching and Learning Strategies

Teaching Method 1 - Lecture
Description: Lectures will be used for the development and evaluation of key concepts and knowledge of issues in relation to the creation and evaluation of financial statements and management accounting information. The use of lectures will also help students in the development of subject specific critical skills and provide opportunities for analysing and critically evaluating contemporary issues in financial and management accounting systems.
Attendance Recorded: Yes

Teaching Method 2 - Tutorial
Description: Tutorials will be used for supporting and producing an in-depth understanding of issues covered in lectures. Through the application of interactive as well as self-directed learning methods, tutorials will be used for developing students’ knowledge for creating, analysing and critically evaluating financial accounting information under the current regulatory structure, and management accounting information in relation to pl anning, coordination, decision making, performance measurement, control, and business strategy.
Attendance Recorded: Yes


Syllabus

 

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

Reading lists are managed at readinglists.liverpool.ac.uk. Click here to access the reading lists for this module.