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 FINANCIAL REPORTING
Code ACUL605
Coordinator Mr BC Wheaton
Finance and Accounting
Ben.Wheaton@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2021-22 Level 6 FHEQ Second Semester 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):
ACUL601 PRINCIPLES OF FINANCIAL ACCOUNTING 

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 70

         3

 73
Timetable (if known)              
Private Study 77
TOTAL HOURS 150

Assessment
EXAM Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
Written assessment There is a resit opportunity. Standard UoL penalty applies for late submission. This is an anonymous assessment. Assessment Schedule (When) :Semester two  3 hours    100       
CONTINUOUS Duration Timing
(Semester)		 % of
final
mark		 Resit/resubmission
opportunity		 Penalty for late
submission		 Notes
             

Aims

To develop knowledge and skills in understanding and applying accounting standards and the theoretical framework in the preparation of financial statements of entities, including groups and how to analyse and interpret those financial statements.

Learning Outcomes

(LO1) Students will be able to discuss and apply the conceptual and regulatory frameworks for financial reporting.

(LO2) Students will be able to account for transactions in accordance with International Financial Reporting Standards.

(LO3) Students will be able to analyse and interpret financial statements.

(LO4) Students will be able to prepare and present financial statements for single entities and business combinations in accordance with International Financial Reporting Standards.

(S1) Adaptability

(S2) Problem solving skills

(S3) Numeracy

(S4) Commercial awareness

(S5) Organisational skills

(S6) Communication skills

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness

Teaching and Learning Strategies

Teaching Method 1 - Interactive lectures
Description: Full day lectures
Attendance Recorded: Yes
Notes: Modules have been timetabled in such a manner as to provide intensive periods of teaching alternated with periods for self-study and reflection. The direct student contact hours are substantial across the modules in order to ensure sufficient material coverage to secure planned professional body exam exemptions.

Teaching Method 2 - Formative Feedback (e.g. peer, revision sessions)
Description: Formative progress test
Attendance Recorded: Yes

Self-Directed Learning Description: Follow-up suggested work and wider reading

Syllabus
 

A) The conceptual and regulatory framework for financial reporting B) Accounting for transactions in financial statements C) Analysing and interpreting financial statements D) Preperation of financial statements for single entities and groups of entities Library resources will be accessible through 'Reading Lists @ Liverpool' Viral will be used to support the course. Practice question and solutions will be provided.

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