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Module Specifications

Archived Version 2008 - 2009

Module Title	Advanced International Financial Accounting
Module Code	AC303
School	DCUBS
Online Module Resources
Level	3	Credit Rating	10
Pre-requisite	None
Co-requisite	None

Module Aims

To build on students' knowledge acquired in previous financial accounting modules;
To enhance students' awareness of the importance of professional ethics in financial reporting;
To provide students with an understanding of the conceptual and legal underpinning of group accounts and to equip them with the skills to account for business combinations;
To further develop students' ability to apply IRFS to the resoltion of specialised business transactions;
To provide students with an appreciation of contemporary issues in accounting; and
To extend students' ability to evaluate and critically appraise the performance, financial position and financial adaptability of a business group

Learning Outcomes

On successful completion of this module, students should be able to:

Demonstrate an understanding of several topical issues in accounting of importance;
Convey an enhanced awareness of corporate governance, corporate social responsibility and the role of professional ethics in financial reporting;
Apply IFRS to a variety of specialised business transactions;
Prepare published financial statements for both single entities and groups incorporating IFRS and legal requirements;
Critically analyse and interpret group financial statements and report thereon.

Indicative Time Allowances
	Hours
Lectures	44
Tutorials	18
Laboratories	0
Seminars	0
Independent Learning Time	88

Total	150
Placements
Assignments

NOTE

Assume that a 10 credit module load represents approximately 150 hours' work, which includes all teaching, in-course assignments, laboratory work or other specialised training and an estimated private learning time associated with the module.

Indicative Syllabus

Accounting Theory: agency theory; efficient market hypothesis; economic consequences of accounting policy choice.

Group Accounting: fundamentals of group accounting; accounting for subsidiaries; the consolidated balance sheet; the consolidated income statement.

Specific Accounting Topics: accounting for construction contracts; accounting for leases and hire purchase; revenue recognition; accounting for borrowing costs; preparation of an operating and financial review, accounting for current taxation; accounting for foreign currencies; related party transactions.

Issues Facing the Professional Accountant: corporate social responsibility, corporate governance; ethical considerations facing the professional accountant.

Reporting and Assessing Financial Performance: accounting for non-current assets held for sale; accounting for discontinued operations; basic earnings per share; diluted earnings per share.

Current Issues in Accounting: earnings management; Enron study.

Assessment
Continuous Assessment	20%	Examination Weight	80%

Indicative Reading List

Essential

Elliott, B. and Elliott, J. (2007) Financial Accounting and Reporting, FT Prentice Hall, 12th edition

The ISAB framework for the preparation and presentation of financial statements

IFRS 3 - Business combinations

IFRS 5 - Non current assets held for sale and discontinued operations

IAS 11 - Construction Contracts

IAS 12 - Income Taxes

IAS 17 - Leases

IAS 18 - Revenue

IAS 21 - The effects of Changes in Foreign Exchange Rates

IAS 23 - Borrowing Costs

IAS 24 - Related Party Disclosures

IAS 27 - Consolidated and Separate Financial Statements

IAS 33 - Earnings Per Share

Recommended Supplementary Reading

Alexander Britton and Jorissen (2005), "International Financial Reporting and Analysis" 3rd Edition, Thomson Learning.

Atrill (2005) 'Financial Management for Decision Makers' (4th Edition); Prentice-Hall.

Bakan (2005) 'The Corporation: The Pathological Pursuit of Profit and Power' Robinson Publishing.

Beneish, M.D. (1999). 'The Detection of Earnings Manipulation', Financial Analysts Journal, Vol. 55: 24 - 36.

Cadbury Report (1992). Report of the Committee on the Financial Aspects of Corporate Governance, Gee Publishing, London.

Dellaportas, Gibson, Alagiah, Hutchinson, Leung and Van Homrigh (2005) 'Ethics, Governance and Accountability' Wiley.

Kim and Nofsinger (2007) 'Corporate Governance', (2nd Edition), Prentice-Hall.

McNichols, M.F. (2000). 'Research Design Issues in Earnings Management Studies', Journal of Accounting and Public Policy, Vol. 19: 313 - 345

Sarbanes Oxley Act of 2002 (US).

Solomon (2004) 'Corporate Governance and Accountability' (2nd Edition), Wiley.

The 2003 UK Combined Code on Corporate Governance

The Financial Reporting Council - The UK Approach to Corporate Governance (2006)

Note: Additional reading material may be recommended as the year progresses.

Programme or List of Programmes

BA in Accounting & Finance

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