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 KMBA622
Coordinator Dr LB Day
Strategy, IB and Entrepreneurship
Lisa.Day@liverpool.ac.uk
Year CATS Level Semester CATS Value
Session 2022-23 Level 7 FHEQ Whole Session 15

Pre-requisites before taking this module (other modules and/or general educational/academic requirements):

KMBA710 BEING A LEADER; KMBA711 THE ORGANISATION IN STRATEGIC CONTEXT; KMBA712 FINANCE AND ACCOUNTING FOR MANAGERS; KMBA713 MARKET PERSPECTIVES; KMBA714 INNOVATION AND CHANGE 

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           50

100

150
Timetable (if known)              
Private Study 0
TOTAL HOURS 150

Assessment

EXAM Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
             
CONTINUOUS Duration Timing
(Semester)
% of
final
mark
Resit/resubmission
opportunity
Penalty for late
submission
Notes
Assessment 1 There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    30       
Assessment 2 There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    20       
Assessment 3 There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    30       
Assessment 4 There is a resit opportunity. Standard UoL penalty applies for late submission. Assessment Schedule (When) :Whole Session    20       

Aims

This module provides students with a comprehensive examination of financial reporting for the non specialist. It builds upon the previous studies by students undertaken in the core Finance and Accounting for Managers module. Students come to further understand the terminology of financial accounting, financial reporting and corporate governance, so that they can talk with confidence to the specialists and not be intimidated by the use of technical vocabulary. They will also be able to apply what they have learned in a practical setting through an appreciation of how an understanding of financial accounting and reporting can have significant benefits to them. This is in terms of their comprehension of published financial statements, plus the uses and potential limitations of these, within the context of critically evaluating the performance and success of organisations.


Learning Outcomes

(LO1) Define and differentiate between different economic and accounting measures of income, plus critically evaluate where their alternative use is most appropriate.

(LO2) Prepare further financial accounting calculations of their own and understand plus critically appraise the key areas of information provided by published financial statements

(LO3) Further understand methodologies utilized to critically analyze and interpret financial statements, plus the current shortcomings of these.

(LO4) Critically appraise the roles of financial accounting and reporting, regulation ethics and corporate governance in the current global environment.

(LO5) Critically examine the conflicting pressures faced by standard-setting bodies in terms of harmonization and globalization, culture, external and institutional issues.

(LO6) Be aware of and critically evaluate current developments in the international financial reporting and auditing arenas, plus their potential impacts for corporate governance.

(S1) Communication Skills: Students will have opportunities to develop written and oral communication skills through group discussions, in-class presentations and coursework. This will be assessed by written assignments, reports the dissertation and short individual and group presentations.

(S2) Problem Solving and Decision Making: Students will be challenged to think critically about organisational issues and dilemmas. They will do this by gathering and synthesising information, analysing alternative perspectives and options and presenting a considered opinion or course of action in their course assessment.

(S3) Information and Communication Technology Skills: Students will have opportunities to improve their ICT skills. Students will demonstrate skills in the use of software applications including word processing, visual presentations, data bases, econometric packages, spreadsheets and using the internet for information searches in the course of researching and presenting coursework.

(S4) Personal Effectiveness: This applies to all modules where students will be encouraged to think critically about theory and practice and to challenge and critique assumptions about management, economic and financial theory.

(S5) Time management. This applies to all modules of the programme and is relevant for planning scheduled work and meeting assessment deadlines. This will be evident in the students’ independent management of their assignments and coursework and by meeting coursework deadlines.


Teaching and Learning Strategies

Teaching Method 1 - Virtual classroom hours (for online modules)
Notes: Number of hours per week, per student expected in the virtual classroom in discussion, dedicated to group work and individual assessment is 7.

Teaching Method 2 - Non-classroom hours (for online modules)
Notes: Number of hours per week, per student expected for reading, research and other individual work to support engagement in the classroom is 13.


Syllabus

 

Introduction to financial reporting

Income and asset measurement

Accounting for price level changes and revenue recognition

Financial statement analysis and real time reporting

Financial reporting utility

Financial reporting credibility

Financial reporting for groups of corporations

Financial reporting developments

Ethics and the globalization of financial reporting


Recommended Texts

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