MM205B: Corporate Financial Reporting: 2

Module Provider:

Management

Number of credits:

20 [10 ECTS credits]

Level:

I (Intermediate)

Terms in which taught:

Spring

Module Convenor:

Mrs JE Cooper

Pre-requisites:

MM1F2 MM205A

Co-requisites:

Modules excluded:

Current from:

2005/6

Aims:

Assessable learning outcomes:
This module aims to develop and add to the knowledge, understanding and skills of financial accounting acquired in both the level C module, Introductory Financial Accounting and the level I module, Corporate Financial Reporting:
1. This module focuses on two areas: the development and technical requirements of the regulatory framework of financial reporting, and the relationship between taxation and accounting.
By the end of the module it is expected that the student will be able to:
1. Discuss the development of a number of financial reporting standards
2. Describe, apply and critically appraise the contents of such standards.
3. Locate and assemble information on the subject through their own work.
4. Perform simple corporation tax calculations and explain the effects of taxation on financial reporting.
5. Work co-operatively and collaboratively on an independently researched piece of work.
6. Organise material and articulate arguments effectively in writing, both under timed conditions and in assessed work.

Additional outcomes:
The module also aims to encourage the development of oral communication skills and the students' effectiveness in group situations. Structured activities are designed to develop independent learning skills. Students will also develop IT skills by use of relevant web resources and communication techniques.

Outline content:
1. Specific techniques and regulations: accounting for tangible and intangible fixed assets; accounting for assets and liabilities; accounting for debt and equity; provisions, contingencies and post-balance sheet events.
2. Theoretical aspects of UK corporation and income taxes; basic corporation tax calculations; accounting for deferred tax.

Brief description of teaching and learning methods:
Lectures of one or two hours per week will be used for the exposition of the major concepts, principles and techniques under consideration. Workshops of two hours duration will be used for numerical practice while one-hour classes will focus on student-led discussion based on independent learning.

Contact hours:

Assessment:
Coursework:
Students will complete one c.3,000 word group report and one numerical test.
Relative percentage of coursework: Coursework has a weight of 20% in the final assessment mark.
Examination
One 3-hour unseen written paper.Part 2 examinations begin in week 5 of the Summer term.
Requirements for a pass:
A minimum mark of 40%.
Reassessment arrangements:
Re-examination for Part 2 modules takes place in September of the same year.