Module Catalogues, Xi'an Jiaotong-Liverpool University   
Module Code: ACC203
Module Title: Financial Reporting I
Module Level: Level 2
Module Credits: 5.00
Academic Year: 2021/22
Semester: SEM1
Originating Department: Department of Accounting
Pre-requisites: ACF103 OR ACC103
This module introduces students to the regulatory reporting requirements for companies in the UK by covering key elements of international accounting standards. It explains to students the concepts of financial reporting through a coverage of the International Accounting Standards Board (IASB) Framework.
Learning outcomes 
A. Draw up a set of financial statements which comply with the major provisions of Presentation of Financial Statements (or IAS1) and other key International Accounting Standards.

B. Summarise key differences between International Accounting Standards and UK Generally Accepted Accounting Principles (GAAP).

C. Evaluate and criticise a set of financial statements published by a UK company.

D. Assess the concepts underlying financial reporting through knowledge of the International Accounting Standards Board (IASB) Framework.

Method of teaching and learning 
Lectures supported by worked examples, and seminars and workshops designed to allow students to practice the application of techniques and principles taught in lectures.
1) The International Accounting Standards Board (IASB) Framework for reporting.

2) The regulatory structure of the IASB.

3) The Presentation of Financial Statements (or IAS1) Framework.

4) Cash flow statements.

5) Tangible non-current assets.

6) Inventory and revenue.

7) Leases.

8) Provisions, contingent liabilities and contingent assets.

9) Introduction to impairment of assets.

10) Events after the balance sheet date.

11) Earnings per share.

12) Related party transactions.

13) Regulatory requirements relating to the preparation of financial statements.

Delivery Hours  
Lectures Seminars Tutorials Lab/Prcaticals Fieldwork / Placement Other(Private study) Total
Hours/Semester 26     12      112  150 


Sequence Method % of Final Mark
1 Individual Assignment 25.00
2 Final Exam 75.00

Module Catalogue generated from SITS CUT-OFF: 12/2/2020 5:07:28 AM