UNIVERSITY OF KENT
MODULE SPECIFICATION
1.
Title of the module
Advanced Financial Accounting
2.
School or partner institution which will be responsible for management of the module
Kent Business School
3.
Start date of the module
January 2015
4.
The number of students expected to take the module
70
5.
Modules to be withdrawn on the introduction of this proposed module and consultation with
other relevant Schools and Faculties regarding the withdrawal
None
6.
The level of the module (e.g. Certificate [C], Intermediate [I], Honours [H] or Postgraduate [M])
Postgraduate [M] (FHEQ Level: 7)
7.
The number of credits and the ECTS value which the module represents
15 (7.5 ECTS)
8.
Which term(s) the module is to be taught in (or other teaching pattern)
Spring
9.
Prerequisite and co-requisite modules
International Financial Reporting (CB8017) pre-requisite
10. The programmes of study to which the module contributes
MSc International Accounting & Finance - compulsory
11. The intended subject specific learning outcomes
11.1 Critically evaluate and explain acquisition accounting for different methods of business
expansion, different types of organisational structures and acquisitions;
11.2 Critically explain accounting treatments for a partnership, evaluating the methods used to
record changes in partnership membership;
11.3 Critically evaluate multi-national accounting in the context of foreign currency transactions and
explain issues in financial reporting and translation of foreign entity statements;
11.4 Critically comment on the international accounting requirements for financial instruments and
know how to account for different types of common financial instruments that companies may
use;
11.5 Critically analyse the rules relating to distributable profits and know how to account for issue of
shares and reduction of capital. Understand and explain the benefits and ramifications of
convergence to international financial reporting standards (IFRS) and international
harmonization of accounting standards for public offerings;
11.6 Critically evaluate the approaches to pension accounting under international accounting
standards and know how to account for different types of pension plans companies may have.
1
UNIVERSITY OF KENT
12. The intended generic learning outcomes
12.1 Critical thinking;
12.2 Problem solving, including ability to create and evaluate a range of solutions, as well as to
apply knowledge to a range of business contexts;
12.3 Ability to select, organise, develop and synthesise complex material;
12.4 Numeracy and quantitative skills, including analysing and interpreting data;
12.5 Ability to plan, work and study independently;
12.6 Effective oral and written communication skills.
13. A synopsis of the curriculum
This module considers some of the most important and contentious international accounting
standards as debates about the value and appropriateness of different approaches of accounting for
business combinations, financial instruments and pension obligations continue to evolve. The
module content will include:






Acquisition accounting for different methods of business expansion/combinations;
Accounting for partnerships;
Multi-national accounting in the context of foreign currency transactions;
Financial instruments;
Share capital and distributable profits;
Employee benefits.
14. Indicative Reading List
D. Alexander, A. Britton and A. Jorissen, International financial reporting and analysis (5 th edition),
Cengage Learning, 2011.
T. Christensen, D. Cottrell and R. Baker, Advanced financial accounting (10th edition), McGraw-Hill
Education (UK) Ltd., 2014.
B. Elliott and J. Elliott, Financial accounting and reporting (latest edition), FT Prentice Hall.
15. Learning and Teaching Methods, including the nature and number of contact hours and the
total study hours which will be expected of students, and how these relate to achievement of
the intended module learning outcomes
Learning/ Teaching Methods
Hours
Subject LOs
Generic LOs
Lectures
12
11.1 – 11.6
12.1 – 12.4
Seminars
12
11.1 – 11.6
12.1 – 12.6
11.1 – 11.6
12.1 – 12.6
Independent learning
 Lecture-linked individual learning
40
 Seminar preparation
30
 Assessment incl. preparation
56
Total hours
150
The module consists of 24 contact hours, including lectures and seminars. The total independent
learning hours expected of students are 126, with 40 hours attributable to lecture-linked individual
learning, 30 hours to seminar preparation and 56 hours to assessment and preparation.
16. Assessment methods and how these relate to testing achievement of the intended module
learning outcomes
Assessment Methods
Weighting
Subject LOs
Generic LOs
Essay – 2000 words
30%
11.1 – 11.6
12.1 – 12.6
Examination – 2 hour, closed
book
70%
11.1 – 11.6
12.1 – 12.6
2
UNIVERSITY OF KENT
One essay of 2,000 words (30% weighting of total mark) requiring students to critically discuss a
topical accounting issue and a 2-hour closed-booked examination (70%)
17. Implications for learning resources, including staff, library, IT and space
The curriculum is within the competence of current staff. As the module is new, some additional
resources in terms of library books will be needed. There are no unusual IT or space requirements.
18. The School recognises and has embedded the expectations of current disability equality
legislation, and supports students with a declared disability or special educational need in its
teaching. Within this module we will make reasonable adjustments wherever necessary,
including additional or substitute materials, teaching modes or assessment methods for
students who have declared and discussed their learning support needs. Arrangements for
students with declared disabilities will be made on an individual basis, in consultation with
the University’s disability/dyslexia support service, and specialist support will be provided
where needed.
19. Campus(es) where module will be delivered:
Canterbury
Statement by the School Director of Graduate Studies : "I confirm I have been consulted on the above
module proposal and have given advice on the correct procedures and required content of module
proposals"
................................................................
..............................................
Director of Graduate Studies
Date
…………………………………………………
Print Name
Statement by the Head of School: "I confirm that the School has approved the introduction of the
module and, where the module is proposed by School staff, will be responsible for its resourcing"
.................................................................
..............................................
Head of School
Date
…………………………………………………….
Print Name
Module Specification Template
Last updated February 2013
3