BE130-6-FY-CO:
Current Issues in Financial Reporting
2021/22
Essex Business School
Colchester Campus
Full Year
Undergraduate: Level 6
Current
Thursday 07 October 2021
Friday 01 July 2022
30
09 May 2022
Requisites for this module
BE110
(none)
(none)
(none)
BE132
BSC N400 Accounting,
BSC N401 Accounting (Including Foundation Year),
BSC N402 Accounting (Including Year Abroad),
BSC N404 Accounting (Including Placement Year),
BSC N420 Accounting and Finance,
BSC N420JS Accounting and Finance,
BSC N420NS Accounting and Finance,
BSC N422 Accounting and Finance (Including Placement Year),
BSC NN43 Accounting and Finance (Including Foundation Year),
BSC NNK3 Accounting and Finance (Including Year Abroad),
MACCN440 Accounting and Finance,
MACCN441 Accounting and Finance (Including Placement Year),
MACCN442 Accounting and Finance (Including Year Abroad),
BSC NN24 Accounting and Management,
BSC NN27 Accounting and Management (Including Placement Year),
BSC NN42 Accounting and Management (Including Foundation Year),
BSC NNK2 Accounting and Management (Including Year Abroad),
BSC N4L1 Accounting with Economics (Including Foundation Year),
BSC NKL1 Accounting with Economics (Including Year Abroad),
BSC NL41 Accounting with Economics,
BSC NL44 Accounting with Economics (Including Placement Year),
BA L147 Financial Economics and Accounting (Including Placement Year),
BA L148 Financial Economics and Accounting,
BA L149 Financial Economics and Accounting (Including Year Abroad),
BA LX14 Financial Economics and Accounting (Including Foundation Year)
In the first five weeks of the autumn term, we will look at deconstructing what accounting and regulation is, we will also look at the role of international standard setters and politics in standard setting. Following this we will move to look at accounting theory which forms the foundations for the approaches to accounting that are currently taken in society, we will look at the way that this forms the conceptual framework and the discuss the measurement approaches that are taken. The module will continue with a more in-depth look at corporate social responsibility (CSR) reporting, including discussions about recent initiatives as well as academic findings. We will then look at fair value accounting in terms of its valuation measurements, its strengths and weaknesses in comparison with historical cost accounting and its relationship with the global financial crisis. In the last two weeks of this term, we will discuss the accounting issue of foreign currency translation and we will compare and contrast the different methods which can be used to account for it. In the first five weeks of the Spring term, we will explore issues related to Off-balance Sheet accounting with a particular focus on lease contracts. We will then discuss the role that these tools have played in encouraging opportunistic behaviours that lead to the bankruptcy of global companies and to the recent global financial crisis. We will then move to discuss the accounting treatment of goodwill and other intangible assets. More focus will be provided on the initial recognition of goodwill with particular reference to IRFS 3 "Business Combinations", and subsequent measurements reflected in impairment tests following IAS 36 "Impairment of Assets". Recent academic research will be discussed to provide more insight on the complexities associated with the accounting of goodwill in practice. The final five weeks of the Spring term is devoted to exploring issues of income manipulation techniques by firms with reference to IAS 37 - Provisions, Contingent Liabilities and Contingent Assets. This is followed by examining the importance issue of pension schemes and post-employment benefits accounting in company reporting and, how companies report the provision of pension for employees and with particular reference to IAS19. In the penultimate week of the term, we turn our attention to Financial Instruments, examining their recognition, measurement and disclosure in the financial statements with particular reference to IAS39/IFRS9. An examination of Accounting for Government Grants and Disclosure of Government Assistance ends the Spring term under the requirements of the module.
This module is centred upon constructing, examining and applying theoretical frameworks to evaluating contemporary issues in accounting.
On successful completion of the module, students will be able to:
• Critically review the attempts by accounting standard setters to develop a conceptual framework and assess the likelihood of success of such a pursuit;
• Evaluate the impact of political, social, and ethical influences on company financial statements and accounting standards and regulation;
• Assess developments in company financial reporting in their national, economic, social and political contexts;
• Assess the strengths and weaknesses of corporate financial reporting practices.
The full BE130 Module is assessed by means of:
• a final 3-hour examination in May/June 2021 (70% weighting);
• one essay (to be submitted during the Autumn Term - 20% weighting); and
• a group video presentation (to be submitted during the Spring Term - 10% weighting).
IMPORTANT: Please note that both the Autumn term Essay and the Spring term Group Video presentation MUST be submitted electronically through the university’s on-line submission system.
The deadline for filing the electronic copy of the Autumn term Essay and the Spring term Group Video Presentation will be published on Moodle.
It is important that you do not miss the course work deadlines.
Please note: In the interests of fairness to all students, it is not possible to read draft copies of coursework or comment on work before it is submitted.
Your attention is drawn to the University’s advice on good essay writing, which is available at www2.essex.ac.uk/essay-writing.
The Essex Business School has adopted the zero-tolerance policy of the University in respect of penalties for late submission of coursework. Please refer to the Undergraduate Handbook for further details.
BE130 is a 20-week (30 credits) module. The module will be delivered by:
* two-hour lectures/workshops (weeks 2 -11 and 16-25)
* one-hour fortnightly classes (weeks 3-11; 16-25 and 30)
Classes will take place on a fortnightly basis. Your attendance is required at each of the lectures and classes assigned to you. Please look at the Module website for supporting material.
This module does not appear to have a published bibliography for this year.
Assessment items, weightings and deadlines
| Coursework / exam |
Description |
Deadline |
Coursework weighting |
| Coursework |
AUTUMN TERM ESSAY |
|
66.8% |
| Coursework |
GROUP VIDEO PRESENTATION |
|
33.2% |
| Exam |
Main exam: 240 minutes during Early Exams
|
Additional coursework information
The final mark for the Module will be based on a weighting of 70% of the Examination mark and 30% of the overall coursework mark.
Coursework / Exam
Coursework 30% / Exam 70%
Exam format definitions
- Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
- In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
- In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
- In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary,
for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.
Your department will provide further guidance before your exams.
Overall assessment
Reassessment
Module supervisor and teaching staff
Prof Silvia Gaia, email: sgaia@essex.ac.uk.
Dr Rebecca Warren, email: rebecca.warren@essex.ac.uk.
Autumn Term: Rebecca Warren, Osamuyimen Egbon ; Spring Term: Silvia Gaia, John Azure,
ebsugcol@essex.ac.uk
No
Yes
No
Dr Idlan Rabihah Zakaria
Available via Moodle
Of 72 hours, 70 (97.2%) hours available to students:
0 hours not recorded due to service coverage or fault;
2 hours not recorded due to opt-out by lecturer(s), module, or event type.
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