Registry

Module Specifications

Current Academic Year 2012 - 2013
Please note that this information is subject to change.

Module Title International Financial Accounting & Analysis
Module Code AC506
School DCUBS
Online Module Resources

Module Co-ordinatorSemester 1: Maria Scanlon
Semester 2: Maria Scanlon
Autumn: Maria Scanlon
NFQ level 8 Credit Rating 10
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None
Description
The purpose of this module is to build on students substantial knowledge of accounting fundamentals and to develop students ability to apply and critically evaluate generally accepted accounting practice (IFRS/IAS). In particular the module sets out to provide students with a framework within which to judge accounting issues and defend their conclusions. The module is delivered through a series of lectures.

Learning Outcomes
1. Describe the regulatory, legal and ethical framework within which financial reporting occurs and the emerging issues in this area;
2. Apply IFRSs/IASs to a specified range of business transactions;
3. Recognise situations where from an accounting perspective the issue of substance over form may arise and draw appropriate conclusions in such instances;
4. Prepare financial statements for a range of business entities at an advanced level in accordance with IFRSs/IASs and current professional and legal requirements;
5. Interpret such financial statements and report thereon;
6. Discuss topical issues of importance in financial accounting.



Workload Full-time hours per semester
Type Hours Description
Lecture88Weekly lectures involving the practical and theoretical elements of financial accounting
Independent learning time98Self study, review of lecture material, preparation for terminal examination
Directed learning44Weekly questions and readings
Assignment20IFRS / IAS project
Total Workload: 250

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities
The Regulatory, Legal and Ethical Framework.
within which financial reporting occurs and the emerging issues within this area.

Specific Accounting Topics.
Income Taxes; Employee Benefits; Financial Instruments; Principle of substance over form; Segmental Reporting; Related Party Disclosures; Share-based payments; Fair value accounting.

Group Accounting.
Accounting for groups of companies, subsidiaries, joint ventures, associates and foreign operations; consolidated cash flow statements; foreign operations operating in a hyperinflationary environment; deferred tax and business combinations.

Advanced Analysis and Interpretation.
Analysis and interpretation of financial statements; individual company accounts; group accounts; consolidated cash flow statements; specialised, not-for-profit and public sector entities; limitations of financial information.

Current Issues in Accounting.
An examination of topical issues of importance within financial accounting.

Assessment Breakdown
Continuous Assessment30% Examination Weight70%
Course Work Breakdown
TypeDescription% of totalAssessment Date
Group assignmentIFRS / IAS project and presentation30%Week 25
Reassessment Requirement
Resit arrangements are explained by the following categories;
1 = A resit is available for all components of the module
2 = No resit is available for 100% continuous assessment module
3 = No resit is available for the continuous assessment component
This module is category 1
Indicative Reading List
  • Elliott, B. and Elliott, J.: 2011, Financial Accounting and Reporting, 15th Edition, FT Prentice Hall,
  • Alexander, Britton, Jarissen: 2011, International Financial Reporting and Analysis, 5th Edition, South-Western Cengage Learning,
  • Connolly, C: 2011, International Financial Accounting and Reporting, 3rd Edition, Chartered Accountants Ireland,
  • Collins,B. and McKeith, J.: 2010, Financial Accounting and Reporting, McGraw Hill Higher Education,
  • Melville, A.: 2011, International Financial Reporting, 3rd Edition, FT Prentice Hall,
Other Resources
5841, Standards, 0, The IASB Framework for the preparation and presentation of financial statements, 5842, Standards, 0, IFRS 2 - Share-based Payment, 5843, Standards, 0, IFRS 3 - Business Combinations, 5844, Standards, 0, IFRS 7 - Financial Instruments: Disclosures, 5845, Standards, 0, 'IFRS 8 - Operating Segments', 5846, Standards, 0, IAS 7 - Cash Flow Statements (Consolidated Cash Flow Statements), 5847, Standards, 0, IAS 12 - Income Taxes, 5848, Standards, 0, IAS 19 – Employee Benefits, 5849, Standards, 0, IAS 21 – The Effects of Changes in Foreign Exchange Rates (foreign operations), 5850, Standards, 0, IAS 24 – Related Party Disclosures, 5861, Standards, 0, IAS 27 – Consolidated and Separate Financial Statements & IAS 27(R) Seperate Financial Statements, 5852, Standards, 0, IAS 28 – Investment in Associates, 5853, Standards, 0, IAS 29 - Financial reporting for hyperinflationary economies, 5854, Standards, 0, IAS 31 – Interests in Joint Ventures, 5855, Standards, 0, IAS 32 – Financial Instruments: Disclosure and Presentation, 5856, Standards, 0, IAS 39 – Financial Instruments: Recognition and Measurement, 5857, Standards, 0, IFRS 10 - Consolidated Financial Statements, 5858, Standards, 0, IFRS 11 - Joint Arrangements, 5859, Standards, 0, IFRS 12 - Disclosure of Interest in Other Entities, 5860, Standards, 0, IFRS 9 - Financial Instruments,
Array
Programme or List of Programmes
MBSMSc in Accounting
PBSSAPG Exchange(Business School)
Timetable this semester: Timetable for AC506
Date of Last Revision12-JAN-11
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