Financial Accounting And Reporting

Overview:

On completion of the Financial Accounting and Reporting module, students will be able to:

• Explain the contribution and inherent limitations of financial statements, apply the International Accounting Standards Board’s (IASB) conceptual framework for financial reporting and identify and explain key ethical issues.

• Prepare and present financial statements from accounting data for single entities, whether organised in corporate or in other forms, in conformity with IFRS and explain the application of IFRS to specific single entity scenarios.

• Identify the circumstances in which entities are required to present consolidated financial statements, prepare and present them in conformity with IFRS and explain the application of IFRS to specified group scenarios.

Course Objective and Approach:

The course is planned to prepare you for success in the Financial Accounting and Reporting exam. This is our key objective. We assume that you have done some preparatory work prior to the commencement of the course and that we can build on this through the duration of the course.

The course will consist of two phases – a lecture-based teaching phase and a revision phase. Lectures will follow the content of BPP course notes and will include extensive practice on questions from the ICAEW Question Bank.

You will be set assignments at the end of each lecture session. All assignments will be reviewed/ assessed by the course tutor in the following session.

Two Progress Tests (PT) will be set for completion during the teaching phase of the course and reviewed by the course tutor. One Mock Exam (ME) will be set for completion before the revision phase of the course and will be marked by the course tutor. A second ME will be issued for you to practice on at the end of the revision phase of the course.

The course is interactive and you will be encouraged to participate in class discussions.

“Completeness” is a key audit assertion. To meet the key course objective of exam success you need to be complete in your exam preparation. The course is aimed at exposure/ coverage to/ of most exam matters. You will be expected to attend all lectures and revisions, complete all course assignments and sit for and return all PT and ME answers.