Module code: BUS224
Module organiser: To be confirmed
In this module students would be expected to understand the evolution of international accounting standards and the contribution of pan national organizations such as the EU and International Accounting Standards Board IASB. Also how corporate reporting has evolved from nationally specific practices to a more convergence towards IASB standards and why and how this has been sponsored.
Students would understand and appreciate how financial statements have evolved to include statements of changes in equity and comprehensive income. The evolution of international accounting standards -financial instruments and fair value reporting and debates on the accounting conceptual framework.
How changes in regulation and corporate governance arrangements have added remuneration reports and the chairman's statements plus new demands for international integrated corporate reporting (including Corporate Social Responsibility and Environmental Reporting)
- 40% Coursework
- 60% Examination
Indicative reading list
- Accounting Standards Steering Committee (ASSC: 1975) The Corporate Report
- American Accounting Association (AAA: 1966) A Statement of Basic Accounting Theory (Evanston, IL:AAA)
- American Institute of Certified Public Accountants (1973) Objectives of Financial Statements (Trueblood report) New York
- Burton, J.C and Fairfield, P (1981) The Role of Financial Information, In Burton, J.C et al (editors), handbook of Accounting and Auditing, Chapter 1, Boston:Warren, Gorham and Lamont
- CFA Institute (2005) A comprehensive business reporting model: Financial reporting for investors, CFA Institute. Codes, Standards, and Position Papers No. 6
- European Finance Research Advisory Group (EFRAG: 2013) Towards a Disclosure Framework for the Notes, EFRAG, Brussels.
- International Accounting Standards Board (IASB 2010) Conceptual Framework for Financial Reporting: The reporting Entity, ED/2010:2
- International Accounting Standards Board (IASB, 2011) IAS(1) Presentation of Financial Statements.
- International Integrated Reporting Council (IIRC, 2013) International Integrated Reporting