Module Code - Title:
AC6122
-
ADVANCED FINANCIAL REPORTING II
Year Last Offered:
2025/6
Hours Per Week:
Grading Type:
N
Prerequisite Modules:
AC6161
Rationale and Purpose of the Module:
Business organisations can have many advanced corporate structures with varying reporting obligations. This second advanced financial reporting module builds on students prior knowledge and competence to prepare financial statements in accordance with IFRS and relevant legislation by addressing more advancing reporting requirements at group level.
Syllabus:
This module will extend on students' knowledge of the principles of the IFRS regulatory framework, and of the local GAAP (UK & Ireland). Students will develop an ability to prepare company accounts at an individual and group level, including subsidiaries, associates and joint arrangements. Students will learn to apply accounting disclosure requirements of the Companies Acts legislation. Students will be exposed to advanced principles and methods of consolidation for group entities.
Learning Outcomes:
Cognitive (Knowledge, Understanding, Application, Analysis, Evaluation, Synthesis)
On successful completion of this module, students will be able to:
1. Update financial records for a wide variety of complex business transactions and prepare financial statements of groups to professional standards.
2. Analyse and interpret the financial statements of companies and groups, so as to communicate financial performance at a high level.
3. Critically evaluate and apply a comprehensive knowledge of IFRS in the preparation and presentation of published financial statements for individual companies and groups.
Affective (Attitudes and Values)
On successful completion of this module, students will be able to:
1. Demonstrate an appreciation of the application and integration of the principles underpinning financial reporting standings.
2. Apply a high level of professional integrity and professional ethics in consideration of the financial and non-financial disclosures in company reporting.
Psychomotor (Physical Skills)
On successful completion of this module, students will be able to:
How the Module will be Taught and what will be the Learning Experiences of the Students:
The Module will be taught through a combination of lectures, tutorials and guest speakers through which the student will acquire the technical skills and knowledge required to prepare financial statements under IFRS. This module will prioritize the graduate attributes of being 'responsible' and 'articulate' by providing students with opportunities to discuss and engage with complex financial transactions, and communicate the correct disclosure for such transactions in individual and group corporate structures, whilst understanding fully the consequences of such disclosures for a range of stakeholders.
Research Findings Incorporated in to the Syllabus (If Relevant):
Prime Texts:
Connolly, C. (2018)
International Financial Accounting and Reporting. 6th edition.
, Chartered Accountants Ireland.
Other Relevant Texts:
IFRS (2023)
International Financial Reporting Standards, 2023.
, IFRS
Programme(s) in which this Module is Offered:
MSIACCTFA - ACCOUNTING
Semester(s) Module is Offered:
Spring
Module Leader:
kathleen.regan@ul.ie