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Module Catalogue

IB234-12 Financial Reporting 2

Department
Warwick Business School
Level
Undergraduate Level 2
Module leader
Jenny Maynard
Credit value
12
Module duration
10 weeks
Assessment
100% exam
Study location
University of Warwick main campus, Coventry

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Introductory description

N/A.

Module web page

Module aims

To build upon Financial Reporting 1:
To develop the ability to prepare, critically evaluate and interpret detailed information to be included in published financial statements.
To develop students’ understanding of the theories of accounting, the regulatory environment for financial reporting, and the structure of group financial statements.

Outline syllabus

This is an indicative module outline only to give an indication of the sort of topics that may be covered. Actual sessions held may differ.

Published financial statements and financial reporting regulation Topics from:

  • Non-current assets and impairment.
  • Leases.
  • Intangible assets.
  • Financial instruments.
  • Inventories.
  • Provisions, contingencies and events after the reporting period.
  • The definition of the reporting entity and preparation of group financial statements.
  • The concept of control, group structures, consolidation after the date of acquisition, shares, reserves, fair value, equity accounting, levels of aggregation.
  • Special purpose entities, joint arrangements and off balance-sheet finance.
  • Current developments in financial reporting.

Learning outcomes

By the end of the module, students should be able to:

  • Demonstrate detailed knowledge of published financial statements formats, disclosure and the regulations and underpinning concepts used in preparing key financial statement entries.
  • Understand the definition of the reporting entity, the concept of control, levels of aggregation of accounting information and off-balance sheet activities.
  • Demonstrate knowledge of the concepts and conventions in the preparation of group financial statements.
  • Demonstrate awareness of current developments in financial reporting theory and practices.
  • Assess the nature of accounting information and be able to describe the relationships between different types of financial statements and accounting numbers.
  • Understanding of the theoretical basis of accounting and the effect this has upon accounting practices.
  • Critically evaluate and interpret accounting numbers and the use of accounting policies.
  • Develop and demonstrate analytical, and problem solving skills.

Indicative reading list

Generic Reading lists can be found in Talis

Subject specific skills

Technical skills related to the preparation and interpretation of published group financial statements.

Transferable skills

Develop and demonstrate written communication skills.
Develop and demonstrate team work and oral communication.

Study time

Type Required
Lectures 20 sessions of 1 hour (17%)
Seminars 9 sessions of 1 hour (8%)
Private study 35 hours (29%)
Assessment 56 hours (47%)
Total 120 hours

Private study description

Private Study.

Costs

No further costs have been identified for this module.

You do not need to pass all assessment components to pass the module.

Assessment group BA
Weighting Study time Eligible for self-certification
Assessment component
Online Examination 100% 56 hours No

Exam

~Platforms - AEP

  • Answerbook Green (8 page)
  • Students may use a calculator
Reassessment component is the same
Feedback on assessment

in-class and on my.wbs

Past exam papers for IB234

Pre-requisites

To take this module, you must have passed:

  • All of
    • IB124-12 Introduction to Financial Accounting
    • IB233-12 Financial Reporting 1
    • Post-requisite modules

    If you pass this module, you can take:

    • IB3F0-12 Auditing, Governance & Accountability
    • IB377-12 Advanced Financial Reporting

    Courses

    This module is Core for:

    • Year 3 of UIBA-NN35 Undergraduate Accounting and Finance
    • UIBA-N4N7 Undergraduate Accounting and Finance (with Foundation Year and Intercalated Year/Undergraduate Partnership Programme)
      • Year 5 of N4N7 Accounting and Finance (Foundation Year and Intercalated)
      • Year 5 of N4N8 Accounting and Finance (Foundation Year and UPP)
    • Year 4 of UIBA-N4N4 Undergraduate Accounting and Finance (with Foundation Year)
    • UIBA-NN36 Undergraduate Accounting and Finance (with Intercalated Year/Undergraduate Partnership Programme)
      • Year 4 of NN36 Accounting and Finance (Intercalated)
      • Year 4 of NN37 Accounting and Finance (Undergraduate Partnership Programme)