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Level 7 Diploma in Accounting and Finance

Critical Evaluation of Specialized Industry Accounting

AF702 · Corporate Reporting — Week 11 of 16

CourseAF702
Week11 of 16
SemesterI
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This week’s topics

Critical Evaluation of Specialized Industry Accounting

  1. Specialized revenue and reserve valuation practices
  2. Valuation volatility of sector-specific assets
  3. Impact of sector reporting standards on investor decisions
  4. Comparative audit and regulatory compliance challenges

What you will be able to do

  • 3.3 Assess published accounting information.
  • 4.2 Assess accounting regulations for a named business sector.
  • 4.3 Critically assess the key accounting practices and policies identified for a named business sector.

Activity

Seminar, guided reading and a short written task: assess published accounting information.

Study materials

Videos

  • The importance of industry-specific disclosures in ISSB Standards to investors · YouTube · IFRS Foundation · 14 min · for registered students
  • Webcast: Overview of the forthcoming IFRS Accounting Standard—IFRS 20 · YouTube · IFRS Foundation · 12 min · for registered students
  • Webinar: Exposure Draft Regulatory Assets and Regulatory Liabilities · YouTube · IFRS Foundation · 62 min · for registered students

Further resources

  • FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (September 2024) · PDF · Frc, framework · for registered students
  • Annual Review of Corporate Reporting 2025/26 (FRC) · PDF · Frc, report · for registered students
  • Annual Review of Audit Quality 2026 (FRC) · PDF · Frc, report · for registered students
Materials marked “for registered students” open in the student portal, which is set up as soon as you receive final acceptance.
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Course plan
  • Week 1: Regulatory Frameworks in Corporate Reporting
  • Week 2: Abuse, Creative Accounting, and Ethical Failures
  • Week 3: Conceptual and Theoretical Underpinnings of Accounting
  • Week 4: Corporate Accounting Policies and Application
  • Week 5: Preparation of Primary Financial Statements
  • Week 6: Group Financial Reporting and Consolidation
  • Week 7: Financial Performance Interpretation and Ratio Analysis
  • Midterm: Midterm evaluation
  • Week 9: Critical Assessment of Published Corporate Reports
  • Week 10: Sector-Specific Accounting Frameworks
  • Week 11: Critical Evaluation of Specialized Industry Accounting
  • Week 12: Applying Corporate Reporting in practice: case studies
  • Week 13: Assignment workshop: research, planning and referencing
  • Week 14: Assignment workshop: drafting, feedback and improvement
  • Week 15: Review and coursework completion
  • Final: Final assessment and submission
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