BUU44531 Financial Reporting and Analysis I

(5 ECTS) 

Lecturer:

Niamh Lynch 

Email: nlynch6@tcd.ie 
Office Hours: By email appointment 

Pre-Requisite(s): 

BUU33531 - Financial Accounting I
BUU33532 - Financial Accounting II

Module Description:

This module seeks to build on previous exposure to financial accounting concepts and techniques by providing a more rigorous and expanded framework for the preparation and analysis of financial statements. It emphasizes the major elements of measurement, recognition and disclosure in contemporary financial reporting. Financial statements will be considered across a variety of business scenarios. The module highlights the emergence of a global dimension to financial reporting through the adoption of international accounting standards. It also deals with selected complex standards, in particular those dealing with provisions, income taxes, financial instruments, revenue recognition and other financial reporting issues.

Learning and Teaching Approach:

Classes will involve a mixture of lectures, discussions, examples and questions.  We will review scenarios, compare theory to real life and from the knowledge and skills you learn prepare financial statements based on international accounting standards. Question packs have been assigned for each topic, and students are encouraged to do these.  Accounting is an applied field and thus best approached by practicing the applications. 

Learning Outcomes:

1. Possess a detailed knowledge of the regulatory and conceptual frameworks of accounting
2. Construct and analyse financial reports conforming with statutory requirements and international accounting standards
3. Understand, apply and critique a range of international accounting standards
4. Construct appropriate accounts relating to the measurement and recognition of revenue
5. Critique the ethical considerations and current developments in financial reporting

Recommended Texts/Key Reading:

Required core course textbook:

• Melville (2019), International Financial Reporting, 7th edition. This is the same textbook as for the prerequisite Junior Sophister Financial Accounting module.  The 6th edition of Melville is also fine. The only major change since that version concerns the new Conceptual Framework, and my notes will be up-to-date for that.

General Supplemental Readings: 

• Alexander et al (2023), International Financial Reporting & Analysis, 9th Edition
• Elliott and Elliott (2019), Financial Accounting and Reporting, 19th Edition
• Connolly (2018), International Financial Accounting and Reporting, 6th Edition
• Professional journals: Accountancy Ireland (Chartered Accountants Ireland) / Accounting and Business (ACCA) / Financial Management (CIMA)
• Useful websites for keeping up to date with current developments: Iasplus.com / Cruncher.ie / Ethicsboard.org
• Useful websites for honing your skills: Accountingcoach.com / IFRSBox.com
• Podcasts: PwC IFRS Talks / Accountancy Ireland

Students are expected to have read the relevant chapters and lecture notes (provided on Blackboard) before each class.

Assessment: 

1. Annual report project (30%) 
   • Groups (3-5 students) choose a FTSE-350 company, and analyse its annual reports though the lens of the lecture material. Full details provided in due course. Submission in November 2023.
2. Final exam (70%)
   • To be taken in December 2023..

Note on assessment of students allowed to sit a supplemental exam: Students who have failed the module and are invited to sit a supplemental exam will be examined by a written exam only. Previous CA (continuous assessment) will not be taken into account in such an examination.