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Module Catalogue

IB377-12 Advanced Financial Reporting

Department
Warwick Business School
Level
Undergraduate Level 3
Module leader
Lisa Weaver
Credit value
12
Module duration
10 weeks
Assessment
30% coursework, 70% exam
Study location
University of Warwick main campus, Coventry

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Introductory description

N/A.

Module web page

Module aims

The core aim of the module is to apply knowledge, skills and exercise professional judgement in the application and evaluation of financial reporting principles and practices in a range of business contexts and situations.
The module builds on previous studies in financial reporting to explore complex issues in financial reporting, requiring detailed knowledge and application of International Financial Reporting Standards. The regulatory context is discussed, and the rationale for current requirements is debated.
The module considers developments in corporate reporting other than IFRS, including the emergence of Integrated Reporting and alternative performance measures. Ultimately, the module provides not only a good coverage of technical financial reporting issues but also touches on developments in regulations and in business practice and how these impact on the preparers and users of financial statements and other means of corporate communications.

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.

This is an indicative list of potential syllabus topics - this may vary depending on emerging trends, e.g. exposure draft of a new IFRS or discussion paper on developments in corporate reporting:

  • Consolidated financial statements for changes in group structure.
  • Financial instruments.
  • Employee benefits including accounting for pension plans.
  • Share-based payment.
  • Foreign exchange.
  • Leases.
  • Deferred taxation.
  • Integrated Reporting.
  • Alternative performance measures.
  • Ethics in financial reporting.

Learning outcomes

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

  • Have the necessary knowledge and understanding to address critically the consequences of a rapid increase in the complexity of corporate reporting regulation within which accounting policy choices should be made.
  • Develop personal viewpoints and articulate opinions on current issues in corporate reporting.
  • Prepare and present clear, concise and effective communications in respect of corporate reporting issues for a range of both internal and external stakeholders of an organisation.
  • Recognise ethical dilemmas facing preparers of financial reports and recommend appropriate responses.

Indicative reading list

Relevant textbooks:
Alexander D, Britton A and Jorissen A (2017) 7th Edition, International Financial Reporting and Analysis, South Western Cengage Learning.
Maynard J. (2013), Financial Accounting, Reporting and Analysis, Oxford University Press.
Weaver L. (2014), Managing the Transition to IFRS-based Financial Reporting, Wiley.
Elliot B. and Elliot J. (2017),18th Edition, Financial Accounting and Reporting, Harlow: FT Prentice Hall.
Kothari J, Barone E, (2011) 1st Edition, Advanced Financial Accounting, Financial Times, Prentice Hall.
IFRS Student Manual, (2010), PricewaterhouseCoopers, CCH Wolters Kluwer.
Cotter D (2011), 1st Edition, Advanced Financial Reporting: A Complete Guide to IFRS, Financial Times, Prentice Hall.
In addition to textbooks, students will be expected to read, as directed, relevant pronouncements of regulatory bodies including: International Accounting Standards Board (www.ifrs.org)
Financial Reporting Council (www.frc.org)
International Integrated Reporting Council (www.integratedreporting.org)
International Federation of Accountants (www.ifac.org)
Readings from selected academic journals (including the Journal of Financial Reporting and Accounting, Journal of Accounting, Auditing and Finance, and International Journal of Accounting and Finance) will also be expected on relevant topics.

Subject specific skills

Integrate theories, concepts and techniques to explore corporate reporting issues in a broad range of organisational scenarios.
Critically evaluate the regulatory and theoretical frameworks forthe preparation of financial statements and other corporate reports.
Assess the validity of accounting policies in the context of the conceptual framework for financial reporting and the requirements of International Financial Reporting Standards.
Recommend accounting treatments, prepare extracts from financial statements, and justify accounting policies in given scenarios.
Apply professional scepticism to recognise situations where corporate information should be challenged, and where the information provided is incomplete or technically incorrect.

Transferable skills

Appreciate the need for a holistic approach to corporate reporting, applying regulatory requirements in the context of a specific organisational environment.
Understand the critical use of judgement in financial reporting, and the consequences of decisions on users of corporate reports.

Study time

Type Required
Lectures 10 sessions of 2 hours (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 D1
Weighting Study time Eligible for self-certification
Assessment component
Individual Assignment 30% 17 hours Yes (extension)
Reassessment component is the same
Assessment component
Online Examination 70% 39 hours No

Exam

~Platforms - AEP

  • Students may use a calculator
Reassessment component is the same
Feedback on assessment

Feedback via My.WBS.

Past exam papers for IB377

Pre-requisites

Or equivalent for V&E students.

To take this module, you must have passed:

  • All of

    • Courses

    This module is Optional for:

    • UIBA-N203 BSc in International Management
      • Year 4 of N203 International Management
      • Year 4 of N203 International Management
      • Year 4 of N238 International Management with Finance
      • Year 4 of N256 International Management with Marketing
      • Year 4 of N236 Management with Digital Business (with Placement Year)
    • UIBA-N201 BSc in Management
      • Year 3 of N201 Management
      • Year 3 of N20B Management
      • Year 3 of N230 Management with Finance
      • Year 3 of N232 Management with Finance
      • Year 3 of N250 Management with Marketing
    • UIBA-N202 BSc in Management (with Intercalated Year/UPP)
      • Year 4 of N210 Management (Undergraduate Partnership Programme)
      • Year 4 of N202 Management (with Intercalated Year)
      • Year 4 of N20C Management (with Placement Year)
      • Year 4 of N231 Management with Finance (with Intercalated Year)
      • Year 4 of N251 Management with Marketing (with Intercalated Year)
    • 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)
    • Year 3 of UCSA-I1N1 Undergraduate Computer Science with Business Studies
    • Year 4 of UCSA-I1NA Undergraduate Computer Science with Business Studies (with Intercalated Year)
    • Year 3 of UIBA-N212 Undergraduate Digital Innovation and Entrepreneurship
    • Year 4 of UIBA-N213 Undergraduate Digital Innovation and Entrepreneurship (with Intercalated year)
    • Year 1 of UIOA-EEU Undergraduate EU Exchange
    • UIOA-ESO Undergraduate European Exchange
      • Year 1 of UESO Undergraduate European Exchange
      • Year 1 of UESO Undergraduate European Exchange
    • Year 3 of UIPA-L8N1 Undergraduate Global Sustainable Development and Business
    • Year 4 of UIPA-L8N2 Undergraduate Global Sustainable Development and Business Studies (with Intercalated Year)
    • Year 3 of UIBA-MN31 Undergraduate Law and Business Studies
    • UIBA-MN32 Undergraduate Law and Business Studies
      • Year 3 of MN32 Law and Business Studies (Four-Year)
      • Year 4 of MN32 Law and Business Studies (Four-Year)
    • UIBA-N20G Undergraduate Management (with Foundation Year and Intercalated Year/Undergraduate Partnership Programme)
      • Year 5 of N20G Management (Foundation Year and Intercalated)
      • Year 5 of N20H Management (Foundation Year and UPP)
      • Year 5 of N23B Management with Finance (with Foundation Year and Intercalated Year)
      • Year 5 of N23C Management with Finance (with Foundation Year and Undergraduate Partnership Programme)
      • Year 5 of N25B Management with Marketing (with Foundation Year and Intercalated Year)
      • Year 5 of N25C Management with Marketing (with Foundation Year and Undergraduate Partnership Programme)
    • UIBA-N20A Undergraduate Management (with Foundation Year)
      • Year 4 of N20A Management (with Foundation Year)
      • Year 4 of N23A Management with Finance (with Foundation Year)
      • Year 4 of N25A Management with Marketing (with Foundation Year)
    • Year 3 of UMAA-G1N4 Undergraduate Mathematics with Business Studies
    • Year 4 of UMAA-G1N5 Undergraduate Mathematics with Business Studies (with Intercalated Year)
    • UIOA-EOS Undergraduate Overseas Exchange
      • Year 1 of UEOS Undergraduate Overseas Exchange
      • Year 1 of UEOS Undergraduate Overseas Exchange
      • Year 1 of UEOS Undergraduate Overseas Exchange
      • Year 1 of UEOS Undergraduate Overseas Exchange
    • Year 5 of UPXA-F3ND Undergraduate Physics and Business Studies (with Intercalated Year)
    • Year 4 of UPXA-F3N2 Undergraduate Physics with Business Studies
    • Year 1 of UIOA-EUS Undergraduate USA Exchange