Financial Reporting and Markets

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• Economic consequences of financial reporting;
• The appropriateness of recent key developments in financial reporting practice;
• The consequences of the incentives facing the various parties involved on the financial reporting process.
• The methods external users can employ in analysing financial information;
• The information needs of legitimate user groups based on an economic decision-making framework;

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Evaluate alternative approaches to financial reporting and regulation;
• Identify and assess current issues in financial reporting.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Solve complex problems.
• Communicate complex ideas and arguments fluently and effectively in a range of different formats to a variety of different audiences

Summary of content:

1. The regulation of financial reporting

2. The information perspective to financial reporting

3. Valuation relevance of financial reporting

4. Economic consequences and Positive Accounting Theory

5. Earnings management

Teaching and learning methods

The module comprises a series of block taught sessions which combine with student led presentations. The presentations are based on case studies and/or academic papers and are organised in groups. The structure of the lectures will provide the opportunity for feedback on a weekly basis through the use of in-lecture exercises and case studies.

Resources & Reading list

Textbooks

R. L. Watts and J. L. Zimmerman (1986). Positive Accounting Theory. Prentice Hall.

Bill Rees (1995). Financial Analysis. Prentice Hall.

C. W. Mulford, and E. E. Comiskey (2005). The Financial Numbers Game: Detecting Creative Accounting Practices. John Wiley & Sons.

Scott, W. R (2014). Financial Accounting Theory. Toronto, Canada: Pearson Prentice Hall.

Craig Deegan and Jeffrey Unerman (2011). Financial Accounting Theory. McGraw-Hill/Higher Education.

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Summative

This is how we’ll formally assess what you have learned in this module.

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Repeat Information

Repeat type: Internal & External