Unit 13:  Financial Reporting

Unit code                           K/508/0526

Unit level                           QCF Level 5/ NFQ Level 6/7

Credit value                       15


The overall aim of this unit is to develop the knowledge, understanding and skills which are required in the preparation of financial statements. Students will become aware of the appropriate financial standards which influence and inform the production of financial statements. They will also explore the conceptual frameworks for financial reporting and how they are related to the reporting of financial information.

On successful completion of this unit students will be in a position to prepare, analyse and audit financial statements in a workplace context and be able to assist senior colleagues in the interpretation of complex financial information. In addition, students will have the fundamental knowledge and skills to progress on to a higher level of study.


Learning Outcomes

By the end of this unit a student will be able to:

  1. Analyse the context and purpose of financial reporting.
  2. Interpret financial statements.
  3. Evaluate financial reporting standards and theoretical models and concepts.
  4. Evaluate international differences in financial reporting