BUU44531 Financial Reporting and Analysis I

(5 ECTS) 

Lecturer:

Niamh Lynch 

Email: nlynch6@tcd.ie 
Office Hours: By email appointment 

Pre-Requisite(s)

BUU33531 - Financial Accounting I
BUU33532 - Financial Accounting II

Visiting students may also take this module. 

Module Description

This module seeks to build on previous exposure to financial accounting concepts introduced in BUU33531/BUU33532 Financial Accounting I and II, and techniques by providing a more rigorous and expanded framework in the preparation and analysis of financial statements. It emphasises the major elements of measurement, recognition, and disclosure in contemporary financial reporting. Financial statements will be considered across a variety of business scenarios. The module highlights the emergence of the global dimension of financial reporting through the adoption of international accounting standards. It also deals with selected complex standards, in particular those dealing with provisions, income taxes, financial instruments, revenue recognition, and other financial reporting issues. The module also examines current developments in accounting associated with integrated reporting, sustainability/ESG reporting, and ethics.

Learning and Teaching Approach

Classes will involve a mixture of lectures, discussions, examples and questions.  We will review scenarios, compare theory to real life and from the knowledge and skills you learn prepare financial statements based on international accounting standards. Question packs have been assigned for each topic, and students are encouraged to do these.  Accounting is an applied field and thus best approached by practicing the applications. 

Learning Outcomes

• Possess a detailed knowledge of the regulatory and conceptual frameworks of accounting
• Construct and analyse financial reports conforming with statutory requirements and international accounting standards
• Understand, apply and critique a range of international accounting standards
• Construct appropriate accounts relating to the measurement and recognition of revenue
• Critique the ethical considerations and current developments in financial reporting (in particular sustainability/ESG reporting requirements). 

Relation to Degree

The module supports a number of the learning outcomes of the overall undergraduate programmes. Specifically, it enables students to:

• Identify, critically evaluate and synthesise the substantive theories, frameworks and models, both qualitative and quantitative, that are used in fields of enquiry related to business, management and the social sciences.
• Analyse and solve a variety of problems in the private and public sectors from a multi-disciplinary knowledge basis of theories, tools and techniques in business and the social sciences.
• Communicate effectively in oral and written modes in professional and academic settings.
• Apply knowledge and understanding of the social and ethical dimensions of management and research in both the public and private sectors of society and to apply this knowledge effectively in management and research contexts.
• Work effectively as an individual and in teams.
• Demonstrate the ability to engage productively with a changing social, cultural and technological environment.

Workload

Recommended Texts/Key Reading

Required core course textbook

• Melville (2022), International Financial Reporting, 8th edition. The 7^th edition of the book is also fine.

General Supplemental Readings

• Alexander et al (2023), International Financial Reporting & Analysis, 9th Edition
• Elliott and Elliott (2022), Financial Accounting and Reporting, 20th Edition
• Connolly (2023), International Financial Accounting and Reporting, 6th Edition
• Professional journals: Accountancy Ireland (Chartered Accountants Ireland) / Accounting and Business (ACCA) / Financial Management (CIMA)
• Useful websites for keeping up to date with current developments: Iasplus.com / Cruncher.ie / Ethicsboard.org
• Useful websites for honing your skills: Accountingcoach.com / IFRSBox.com
• Podcasts: PwC IFRS Talks / Accountancy Ireland

Students are expected to have read the relevant chapters and lecture notes (provided on Blackboard) before each class.

Assessment

1. Continuous assessment [30%]: Annual report project where groups of 3-5 students choose a FTSE-350 company and analyse its annual reports though the lens of the lecture material. Full details provided in due course. Submission in November 2024.
2. Examination [70%]: To be taken in December 2024. Precise venue and time to be announced in due course.

Note on assessment of students allowed to sit a supplemental exam: Students who have failed the module and are invited to sit a supplemental exam will be examined by a written exam only. Previous CA (continuous assessment) will not be taken into account in such an examination.

Biographical Note

Niamh is a Teaching Fellow in Accounting at Trinity Business School. Niamh qualified as a Chartered Accountant having completed her training with a Big Four accounting firm. Niamh’s teaching responsibilities include undergraduate and postgraduate modules in management accounting, financial reporting, and performance measurement, respectively. Niamh was awarded teaching excellence awards in 2022, 2023 and 2024. Niamh is currently undertaking her PhD in Accounting and has received awards from both the Irish Accounting and Finance Association (IAFA) and British Accounting and Finance Association (BAFA, Financial Reporting and Business Communications conference) for her research. Niamh holds a first-class honours Bachelor of Business Studies (Specialism in Finance) from Dublin City University and is also a graduate of Trinity College Dublin’s Postgraduate Diploma in Accounting.