FNCE H3307 - Advanced Financial Reporting 1 for Accounting Degree Students
Module Details
Module Code:
FNCE H3307
Module Title:
Advanced Financial Reporting 1 for Accounting Degree Students
Title:
Advanced Financial Reporting 1
Module Level::
8
Credits::
5
Module Coordinator:
Martin Meagher
Module Author::
Susan Brennan
Domains:
Module Description:
This module is designed to further develop students' ability, skills and competence in accounting for business combinations and the preparation and presentation of consolidated financial statements to incorporate partly-owned subsidiaries and associates. The depth and breadth of module content and assessment are designed to gain maximum exemptions from professional accountancy bodies, appropriate to an Honours Accounting programme.
Learning Outcomes
On successful completion of this module the learner will be able to:
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Learning Outcome Description
LO1
Discuss and apply the international accounting standards dealing with groups of companies
LO2
Evaluate and apply the accounting treatment of investments in subsidiaries and associates in a set of consolidated financial statements including investments in foreign entities
This is prior learning (or a practical skill) that is recommended before enrolment in this module.
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Additional Requisite Information
No Co Requisites listed
Indicative Content
Consolidated Financial Statements
Accounting for subsidiary investments in consolidated financial statements, including non-controlling interests and the acquisition of a subsidiary during an accounting period;
Treatment of non-controlling interest at acquisition;
Determination of fair value on acquisition and calculation of adjustments;
Accounting for associates and joint ventures using the equity method of accounting;
Preparation of consolidated statement of profit or loss;
Preparation of consolidated statement of financial position;
Foreign Subsidiaries;
Key differences between examinable IFRS and local GAAP FRS 102
Module Content & Assessment
Assessment Breakdown
%
End of Module Formal Examination
100.00%
Assessments
Full Time
Continuous Assessment
Assessment Type
Other
% of Total Mark
0
Timing
Ongoing
Learning Outcomes
1,2,3
Non-marked
No
Assessment Description Formative Assessments including MCQs / Short Numerical Answer Questions / Progress Tests
No Project
No Practical
End of Module Formal Examination
Assessment Type
Formal Exam
% of Total Mark
100
Timing
End-of-Semester
Learning Outcomes
1,2,3
Non-marked
No
Assessment Description End-of-Semester Final Examination
Reassessment Requirement
Repeat examination Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
SETU Carlow Campus reserves the right to alter the nature and timings of assessment
Module Workload
Workload: Full Time
Workload Type
Workload Category
Contact Type
Workload Description
Frequency
Average Weekly Learner Workload
Hours
Lecture
Contact
Class Based Instruction
Every Week
3.00
3
Independent Learning
Non Contact
No Description
Every Week
6.00
6
Total Weekly Contact Hours
3.00
Workload: Part Time
Workload Type
Workload Category
Contact Type
Workload Description
Frequency
Average Weekly Learner Workload
Hours
Lecture
Contact
No Description
Every Week
1.50
1.5
Independent Learning Time
Non Contact
No Description
Every Week
4.50
4.5
Total Weekly Contact Hours
1.50
Module Resources
Recommended Book Resources
Alan Melville. (2019), International Financial Reporting, 7th. Pearson, [ISBN: 9781292293127].
Supplementary Book Resources
Ciaran Connolly. (2018), International Financial Accounting and Reporting, 6th. Chartered Accountants Ireland, [ISBN: 9781912350025].
Barry Elliott and Jamie Elliott. (2019), Financial Accounting and Reporting, 19th. Pearson, [ISBN: 9781292255996].
This module does not have any article/paper resources
Other Resources
Irish Auditing and Accounting
Supervisory Authority,