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ACCT8001 - Group Financial Reporting

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Title:Group Financial Reporting
Long Title:Group Financial Reporting
Module Code:ACCT8001
 
Duration:1 Semester
Credits: 5
NFQ Level:Advanced
Field of Study: Accounting, Auditing and Accountability
Valid From: Semester 1 - 2016/17 ( September 2016 )
Module Delivered in 1 programme(s)
Module Coordinator: Claire OSullivan Rochford
Module Author: MARTIN O SULLIVAN
Module Description: This module deals with the principles and practice of the preparation of group financial statements and with the underlying concepts and treatment of specialised topics
Learning Outcomes
On successful completion of this module the learner will be able to:
LO1 Discuss and apply the International Financial Reporting Standards dealing with groups of companies
LO2 Prepare advanced consolidated financial statements including cashflow statements
LO3 Evaluate the treatment of associates and joint ventures including investments in foreign entities
LO4 Apply current reporting practice in relation to specialised topics
Pre-requisite learning
Module Recommendations
This is prior learning (or a practical skill) that is strongly recommended before enrolment in this module. You may enrol in this module if you have not acquired the recommended learning but you will have considerable difficulty in passing (i.e. achieving the learning outcomes of) the module. While the prior learning is expressed as named CIT module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
9465 ACCT7004 Adv. Financial Accounting 1
Incompatible Modules
These are modules which have learning outcomes that are too similar to the learning outcomes of this module. You may not earn additional credit for the same learning and therefore you may not enrol in this module if you have successfully completed any modules in the incompatible list.
No incompatible modules listed
Co-requisite Modules
No Co-requisite modules listed
Requirements

This is prior learning (or a practical skill) that is mandatory before enrolment in this module is allowed. You may not enrol on this module if you have not acquired the learning specified in this section.

No requirements listed
 

Module Content & Assessment

Indicative Content
Group structures
Accounting for acquisitions,investments in associates and joint ventures
Group financial statements
Theory and practice in relation to statements of profit or loss, statements of changes in equity, statements of financial position and statements of cash flow for groups
Group entities
Definition and treatment of subsidiaries, associates and joint ventures including investments in foreign entities
Specialised topics
Evaluate and apply the International Financial Reporting Standards in relation to: Deferred taxation, financial instruments,revenue recognition,impairment
Assessment Breakdown%
Course Work30.00%
End of Module Formal Examination70.00%
Course Work
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Short Answer Questions Preparation of Consolidated financial statements 1,2 30.0 Week 6
End of Module Formal Examination
Assessment Type Assessment Description Outcome addressed % of total Assessment Date
Formal Exam End-of-Semester Final Examination 1,2,3,4 70.0 End-of-Semester
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.

The institute reserves the right to alter the nature and timings of assessment

 

Module Workload

Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture and demonstration to group 3.0 Every Week 3.00
Tutorial Review and further explanation of lecture material 1.0 Every Week 1.00
Independent & Directed Learning (Non-contact) Review of material and practical work 3.0 Every Week 3.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 4.00
Workload: Part Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Lecture and demonstration to group 2.0 Every Week 2.00
Independent & Directed Learning (Non-contact) Review of material and practical work 5.0 Every Week 5.00
Total Hours 7.00
Total Weekly Learner Workload 7.00
Total Weekly Contact Hours 2.00
 

Module Resources

Recommended Book Resources
  • Paul Mahony and Niall MacLochlainn 2015, Consolidated Financial Statements, 2nd Ed., Chartered Accountants Ireland [ISBN: 9781908199478]
Supplementary Book Resources
  • Derry Cotter 2014, Advanced Financial Reporting, 1st Ed., Ft Prenticehall [ISBN: 978-0-273-73235-8]
  • Ciaran Connolly 2015, International Financial Accounting and Reporting, 5th Ed., Chartered Accountants Ireland [ISBN: 9781910374290]
This module does not have any article/paper resources
Other Resources
 

Module Delivered in

Programme Code Programme Semester Delivery
CR_BACCT_8 Bachelor of Business (Honours) in Accounting 8 Mandatory

Cork Institute of Technology
Rossa Avenue, Bishopstown, Cork

Tel: 021-4326100     Fax: 021-4545343
Email: help@cit.edu.ie