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BUU44532 Financial Reporting and Analysis II

(5 ECTS credits)

Lecturer(s):

Mr. Neil Dunne

Module Content/Outline:

This module seeks to build on the financial reporting concepts and techniques introduced in BUU44531 Financial Reporting and Analysis I. It emphasizes the major elements of measurement, recognition and disclosure in contemporary financial reporting. Financial statements will be considered and analysed 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 employee benefits, related parties, earnings per share, financial instruments 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. Construct appropriate accounts relating to the measurement, recognition and disclosure of employee benefits, related parties and earnings per share.
  2. Explain and critique current technical and technological developments in financial reporting.
  3. Analyse financial reports deploying a range of analytical tools and make judgments and decisions based on this analysis.
  4. Prepare and interpret cash flow statements.
  5. Prepare consolidated financial statements to account for various business combinations scenarios.

Recommended Texts/Key Reading:

Required core course textbook:

  • Melville (2019), International Financial Reporting, 7th edition. This is the same textbook as for BU44531 Financial Reporting and Analysis I.  The 6th edition of Melville is also fine.
  • General Supplemental Readings 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

Student preparation for the module

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

Assessment:

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 April 2021.

Final exam (70%): To be taken in May 2021.

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.