This module is designed to build upon the knowledge and skills gained in earlier financial reporting modules by covering the preparation of group financial statements including associates and joint ventures.  It will also develop an understanding of group accounting principles and issues arising from group accounting including fair values, intangibles and impairment.

The module also addresses other key accounting standards including those relating to leases, borrowing costs and related parties.

The module should enable students to prepare complete single entity and consolidated financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS).

Students will also be required to explain accounting and reporting concepts and ethical issues, and the application of IFRS to specified single entity or group scenarios

(LO1) Students will be able to explain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues.

(LO2) Students will be able to prepare and present financial statements from accounting data for single entities, whether organised in corporate or in other forms, in conformity with IFRS and explain the application of IFRS to specified single entity scenarios.

(LO3) Students will be able to identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS and explain the application of IFRS to specified group scenarios.

(S1) Improving own learning/performance - Self-awareness/self-analysis

(S2) Improving own learning/performance - Reflective practice

(S3) Communication (oral, written and visual) - Presentation skills - written

(S4) Communication (oral, written and visual) - Following instructions/protocols/procedures

(S5) Communication (oral, written and visual) - Report writing

(S6) Time and project management - Personal organisation

(S7) Time and project management - Personal action planning

(S8) Critical thinking and problem solving - Evaluation

(S9) Critical thinking and problem solving - Problem identification

(S10) Information skills - Information accessing:[Locating relevant information] [Identifying and evaluating information sources]

(S11) Skills in using technology - Using common applications (work processing, databases, spreadsheets etc.)

(S12) Skills in using technology - Information accessing

(S13) Skills in using technology - Online communications skills

(S14) Numeracy/computational skills - Reason with numbers/mathematical concepts

(S15) Numeracy/computational skills - Confidence/competence in measuring and using numbers

(S16) Numeracy/computational skills - Problem solving

(S17) Global citizenship - Relevant economic/political understanding

(S18) Global citizenship - Ethical awareness

(S19) Commercial awareness - Relevant understanding of organisations

(S20) Personal attributes and qualities - Resilience

(S21) Personal attributes and qualities - Flexibility/Adaptability

(S22) Personal attributes and qualities - Integrity

Teaching Method: Lecture
Description: 12 x 3 hour sessions
Scheduled Directed Student Hours: 36
Attendance Recorded: No

Teaching Method: Seminar
Description: 5 x 1 hour seminars
Scheduled Directed Student Hours: 5
Attendance Recorded: Yes

Self-Directed Learning Hours: 109
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial activities and to understand the content of lectures. Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module.

There are the following non-modular requirements:
ACFI101, ACFI201

This module is a pre-requisite for the following modules:
ACFI302

Skills/Other Attributes Mapping

Skills / attri butes: Personal attributes and qualities - Integrity
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Personal attributes and qualities - Flexibility/Adaptability
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Personal attributes and qualities - Resilience
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Commercial awareness - Relevant understanding of organisations
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Global citizenship - Ethical awareness
How this is developed: Throughout the module - t utorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Global citizenship - Relevant economic/political understanding
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy/computational skills - Problem solving
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy/computational skills - Confidence/competence in measuring and using numbers
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy/computational skills - Reason with numbers/mathematical concepts
How this is developed: Throughout the module - tutoria l questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Skills in using technology - Online communications skills
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Skills in using technology - Information accessing
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Skills in using technology - Using common applications (work processing, databases, spreadsheets etc.)
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Information skills - Information accessing:[Locating relevant information] [Identifying and evaluating information sources]
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Critical thinking and problem solving - Problem identification
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Critical thinking and problem solving - Evaluation
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Time and project management - Personal action planning
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

Skills / attributes: Time and project management - Personal organisation
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of asse ssment (if applicable)

Skills / attributes: Communication (oral, written and visual) - Report writing
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Communication (oral, written and visual) - Following instructions/protocols/procedures
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Communication (oral, written and visual) - Presentation skills - written
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable): Examination

Skills / attributes: Improving own learning/performance - Reflective practice
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if ap plicable)

Skills / attributes: Improving own learning/performance - Self-awareness/self-analysis
How this is developed: Throughout the module - tutorial questions, revision questions, mock exams
Mode of assessment (if applicable)

IFRS 16 Leases (leasee accounting only but including sale and leaseback)
IFRS 9 Financial Instruments
IAS 24 Related Party Disclosures
IFRS 10 Consolidated Financial Statements
IAS 28 Investments in Associates
IFRS 11 Joint Arrangements
IAS 36 Impairment of Assets (emphasis on intangibles)
IAS 38 Intangible Assets
IFRS 3 Business Combinations
IFRS 12 Disclosure of Interests in Other Entities
IFRS 13 Fair Value Measurement