Issues in Financial Reporting (743N1)
15 credits, Level 7 (Masters)
Autumn teaching
Financial accounting statements communicate information about organisations to users for the purposes of control, financial performance assessment and the valuation of companies.
The module begins by discussing the demand and supply effects for financial statements from an agency theory perspective, which sets the scene for an understanding and critical evaluation of the IASB's conceptual framework for the preparation and presentation of financial statements. A short intensive review of accounting technique is provided in week two based on accruals, the accounting identity and the preparation of statements of comprehensive income and financial position statements. The module then reviews the accounting policies and critically evaluates the regulatory requirements for the preparation of financial statements in accordance with International Accounting Standards. The role and contribution of ratio analysis to the interpretation of financial information for investors and lenders is then discussed. The module continues by reviewing and discussing the topics of accounting for taxation in financial statements and the role of audit and concludes by discussing a range of accounting research methodologies.
The aim of the module is to equip you with the technical skills to prepare financial statements of listed companies in accordance with the requirements of International Accounting Standards and International Financial Reporting Standards and to analyse and discuss their usefulne