To enable candidates to prepare single entity financial statements, and extracts from those financial statements, covering a wide range of International Financial Reporting Standards (IFRS).
Candidates will also be expected to explain accounting and reporting concepts and ethical issues, and the application of specified IFRS to specified single entity.

(LO1) Students will be able to draw up a set of financial statements which comply with the major provisions of IAS1 and other key International Accounting Standards;

(LO2) Students will be able to understand and apply key international accounting standard regulations with respect to presentation, disclosure, recognition and measurement for individual company financial statements;

(LO3) Students will be able to assess the concepts underlying financial reporting through a knowledge of the IASBs Conceptual Framework.

(S1) Adaptibility

(S2) Improving own learning/performance - Reflective practice

(S3) Communication (oral, written and visual) - Presentation skills - written

(S4) Communication (oral, written and visual) - Following instructions/protocols/procedures

(S5) Communication (oral, written and visual) - Report writing

(S6) Critical thinking and problem solving - Problem identification

(S7) International awareness

(S8) Lifelong learning skills

(S9) Ethical awareness

(S10) Numeracy/computational skills - Problem solving

(S11) Numeracy/computational skills - Numerical methods

(S12) Global citizenship - Ethical awareness

(S13) Commercial awareness - Relevant understanding of organisations

(S14) Personal attributes and qualities - Integrity

Teaching Method: Lecture
Scheduled Directed Student Hours: 24
Attendance Recorded: No

Teaching method: Seminars
Description: Group work applying knowledge from asynchronous recorded lectures to company financial statements.
Scheduled Directed Student Hours: 6
Attendance Recorded: Yes

Self-Directed Learning Hours: 120
Description: These independent learning hours are aimed at supporting the directed student learning. The module leader will provide guidance in the form of suggested readings and topics to examine with the expectation that students are well prepared to contribute to the tutorial activities and to understand the content of lectures. Self-Directed Learning will include research activity, developing academic writing skills, and wider reading to support the module. There will also be group research set for the small group face to face seminars

Costs Information:
There are no specific costs attached to this module.

T his module is a pre-requisite for the following modules:
ACFI202, ACFI301, ACFI302, ACFI309, and ACFI312

Skills/Other Attributes Mapping

Skills / attributes: Personal attributes and qualities - Integrity
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Commercial awareness - Relevant understanding of organisations
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Global citizenship - Ethical awareness
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy/computational skills - Numerical methods
How this is developed: Thr oughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Numeracy/computational skills - Problem solving
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Ethical awareness
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Lifelong learning skills
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: International awareness
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable)

Skills / attributes: Critical thinking and problem solving - Problem identification
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Communication (oral, written and visual) - Report writing
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Communication (oral, written and visual) - Following instructions/protocols/procedures
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Communication (oral, written and visual) - Presentation skills - written
How this is developed: Throughout the module; lectu res, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable): Examination

Skills / attributes: Improving own learning/performance - Reflective practice
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable)

Skills / attributes: Adaptability
How this is developed: Throughout the module; lectures, podcasts, tutorial questions, revision questions, mock exam
Mode of assessment (if applicable)

The regulatory structure of the International Accounting Standards Board (IASB);

Preface to IFRS IASB conceptual framework for financial reporting;

Presentation of Financial Statements;

Property, Plant and Equipment;

Impairment of Assets;

IFRS5 Non Current Assets held for sale and discontinued operations (excluding disposal groups);

Inventories;

Provisions, contingent liabilities, and contingent assets;

Events after the Reporting Period;

Revenue;

Construction Contracts;

Accounting Policies, changes in accounting estimates and errors;

Income tax (current tax adjustments only);

Accounting for Government grants and disclosure of government assistance;

Effects of foreign exchange rates (individual companies only);

Financial Instruments (basic concepts);

Statement of Cash Flows;

Earnings Per Share (excluding diluted EPS).