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BUU44530 Financial Reporting and Analysis

(10 ECTS credits)

Lecturer(s):

Mr. Neil Dunne

Module Content/Outline:

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, including cash flow and consolidated accounts, 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 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:

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

  • Possess a detailed knowledge of the regulatory and conceptual frameworks of accounting
  • Construct and analyse financial reports conforming with statutory requirements and international accounting standards
  • Understand, apply and critique a range of international accounting standards
  • Construct appropriate accounts relating to the measurement and recognition of financial instruments
  • Prepare consolidated financial statements to account for various business combinations scenarios
  • 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 (if you already have the sixth edition from third year, that’s fine. The only major change since 2017 concerns the new Conceptual Framework, and my notes will be up-to-date for that)

 

General Supplemental Readings, websites and podcasts

  • Connolly (2018), International Financial Accounting and Reporting, 6th Edition
  • Picker et al (2016), Applying International Financial Reporting Standards, 4rd Edition
  • Professional journals: Accountancy Ireland (Chartered Accountants Ireland) / Accounting and Business (ACCA) / Financial Management (CIMA)
  • Iasplus.com / Cruncher.ie/ Ethicsboard.org
  • Podcasts: PwC IFRS Talks / Accountancy Ireland

Student preparation for the module

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

Pre-requisite:

BUU33530 Financial Accounting (JS Year)

Assessment:

Annual report project 1: (15%)
Annual report project 2: (15%)
Final exam: (70%)

Penalties for late submission:

10% deduction (absolute), for each day (or part-thereof), that assignment is late. Coursework more than 10 days late without formal reason will not be accepted. Students unable to submit a term assignment for medical reasons must produce a medical certificate to the Trinity Business School office within three working days of the missed submission date. Certificates received after that time will not be accepted.