In this module students would be expected to understand the evolution of accounting standards and the contribution of pan national organizations such as the EU and International Accounting Standards Board IASB.
This module considers how changes in regulation and corporate governance arrangements have added remuneration reports and the chairman's statements plus new demands for integrated corporate reporting (including Corporate Social Responsibility and Environmental Reporting) and also Integrated and Business Model Reporting
Students will understand and appreciate how financial statements have evolved to include statements of changes in equity and comprehensive income . The evolution of accounting standards --financial instruments and fair value reporting and debates on the accounting conceptual framework.
How do external consultants impact upon disclosed financial information: role of valuation advisers, actuaries etc in terms of the various forms of accounting standard: financial instruments, tangible assets, pension fund accounting etc
Impact of new institutions on the nature of corporate reporting (IIRC, WRI, UNEP)
The broad aims of this module are
a] To appreciate how corporate disclosure has broadly evolved over recent decades
b] Understand the motivations driving the expansion of corporate disclosure
c] Evaluate and understand how corporate disclosure has broadened to include corporate reporting other than traditional accounting and financial reports
d] Critically evaluate the effectiveness of more complex corporate reporting practices for different stakeholder groups and involvement of external consultants and advisers in the process of valuation and line item reporting.
60% examinations, 40% coursework