Course Catalogue

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This course provides students with a critical understanding of the international financial reporting harmonisation project. The course explores the wider contextual factors (including economic, legal, political, cultural) that drive financial reporting practices and regulation, taking into account national and supra-national regimes and organisations. The course covers a selection of different jurisdictions and International Financial Reporting Standards as a means of explaining both current financial reporting rules, the challenges of financial reporting harmonisation, and the consequences of these rules on the persistence of financial reporting differences.

10 x 2 hour lectures, 4 x 1 hour tutorials

Please refer to the current postgraduate prospectus at: http://www.gla.ac.uk/postgraduate/

ACCFIN5013

Group project work (25%) and degree examination (75%).

Reassessments are normally available for all courses, except those which contribute to the Honours classification. For non Honours courses, students are offered reassessment in all or any of the components of assessment if the satisfactory (threshold) grade for the overall course is not achieved at the first attempt. This is normally grade D3 for undergraduate students and grade C3 for postgraduate students. Exceptionally it may not be possible to offer reassessment of some coursework items, in which case the mark achieved at the first attempt will be counted towards the final course grade. Any such exceptions for this course are described below. 

Reassessment opportunities are provided in accordance with School policy as applied to assessed groupwork.

The course aims to provide students with an understanding of the nature of, and influences on, financial reporting practices in different jurisdictions and a critical understanding of the purpose of and efforts made by the International Accounting Standards Board (IASB) to harmonise financial reporting practices. Further, the course aims to demonstrate the application of a selection of International Financial Reporting Standards (IFRS), enabling students to apply these standards and to understand their consequences for financial reporting and to explain why differences in accounting practice persist in different jurisdictions.

1. Critically evaluate the purpose and progress made by the harmonisation program of the IASB, including the effects of its interactions with other international organisations and national standard setting bodies; 

2. Critically evaluate the concept of 'harmonisation', including the importance of understanding how this is defined and a critical appraisal of the desirability of accounting harmonisation;

3. Identify and critically evaluate a range of contextual factors that influence the development of accounting and financial reporting systems in a global context and which might explain similarities and differences in accounting practice;

4. Identify, calculate and evaluate complex problems of financial accounting practice by the selection and application of appropriate accounting principles, assumptions and techniques (using IFRS);

5. Explain, through the use of academic literature and research, contemporary accounting issues and assess their effects on interpretation of financial statements and the importance of political factors in influencing the standards and/or their application; 

6. Conduct research and participate effectively in collaborative group project work, by liaising with other class members, allocating tasks and co-ordinating group meetings.

Students must submit at least 75% by weight of the components (including examinations) of the course's summative assessment.