The aim of this module is to develop a students understanding of the theoretical framework of accounting. It introduces the student to the translation of accounting theory, concepts and principles into accounting regulation and practice. It encourages the student to evaluate selected international accounting standards.

The module will consider the theory and practice of selected international accounting standards and issues. Focus will be on the preparation and reporting to external users of financial information, especially, but not exclusively, equity investors. The accounting standards and issues are examined in light of their historical development and discussions will not be solely around the actual content but what the regulations ought to be or might be.

On successful completion of the module students are expected to be able to: Understand the historical development of the relevant international accounting standards and issues. Identify and apply the rules of international accounting standards to accounting issues in accordance with generally accepted accounting practice. Analyse and interpret the impact on the information content of financial statements as a result of applying the accepted accounting practice. Demonstrate a comprehension of the link between the theoretical and practical aspects of the international accounting standards by using real world scenarios. Recall relevant findings from the literature.

Develop an awareness of the historical development of accounting practice. Create an awareness of the code of ethics that applies for the accounting profession and demonstrate a professional commitment to ethical practice in the area of accounting.

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This module will be taught through a series of weekly lectures supported by tutorials. It is expected that students actively participate in both lectures and tutorials. Students will be expected to be proactive in their approach to lectures and tutorials. They will be required to be responsible for self- learning by studying the additional recommended materials. Students will be required to become knowledgeable in relation to the choices allowed within the international accounting standards and demonstrate a capacity to apply this knowledge to real world scenarios. Students will be required to consider current research in relation to some accounting issues and demonstrate competence in articulating the link between the theory and the practice. This knowledge will be assessed through continuous assessment and an end of term exam requiring them to engage with core material. A focus on ethical issues will enable them to become aware of their role and responsibility as future accountants and finance managers. It will allow them to apply this to collaborative work places in the future.