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BUU44530 Financial Reporting and Analysis Assignment Example TCD Ireland

Financial reporting and analysis is a critical processes for any business. By understanding what is going on financially, businesses can make better decisions and improve their bottom line. In this course, you will learn how to read financial statements, assess a company’s financial health, and identify opportunities and risks. You will also explore different ways to value a company and its assets. Whether you are starting your own business or working in finance, this course will give you the tools you need to make sound financial decisions.

Assignment Activities of BUU44530 Financial Reporting and Analysis

In this unit, there are many types of assignments given to students like individual assignments, group-based assignments, reports, case studies, final year projects, skills demonstrations, learner records, and other solutions are given by us. We can also help you with the Annual report project and final exam.

In this section, we are describing some activities. These are:

Assignment Task 1: Possess detailed knowledge of the regulatory and conceptual frameworks of accounting.

The Regulatory Framework of Accounting: The regulatory framework of accounting comprises the accounting standards, ethics, and key legislation. The International Financial Reporting Standards (IFRS) are approved by the International Accounting Standards Board (IASB). The IASB is an independent standard-setting body whose aim is to develop a single set of high-quality, understandable, and enforceable global accounting standards. The IASB is an independent body with no government involvement and it is required to think about the needs of users and prepare its standards accordingly.

The Conceptual Framework of Accounting: The conceptual framework relates to the “concepts, conventions and rules that form the basis for recording and measuring business transactions”. It establishes the foundations of an accounting system. The conceptual framework is divided into two major components: the accounting model and the measurement model.

  • The Accounting Model: The accounting model is concerned with how transactions are classified, accounted for, and presented in the financial statements. It also outlines what information is reported about a transaction in an accounting period. Transactions can be either monetary or non-monetary. Cash transactions are monetary transactions where goods or services are exchanged for money. Non-monetary transactions can involve exchanging goods or services without the involvement of cash.
  • The Measurement Model: The measurement model involves measuring assets and liabilities at their initial cost. This is based on the principle that assets are initially recorded at their purchase price, known as historical cost. Assets are then held at their historical cost unless there is a specific event that affects the value of an asset, in which case it will be revalued to its current market value.

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Assignment Task 2: Construct and analyse financial reports conforming with statutory requirements and international accounting standards.

A financial report is a document that provides information about the past, present, and future of an organization’s financial affairs. Financial reports are intended to provide investors with the detailed information they can use when assessing how financially healthy a company is. A financial report should always feature three main sections: the income statement, the balance sheet, and a statement of cash flows. A business owner can use a financial report to show how profitable they were over a certain period. Whether you are studying for an exam or preparing for your business ventures, you must understand what makes up a financial report.

  • The Income Statement: The income statement details a company’s financial performance over a specific period (usually one year). It provides information about the revenue that has been earned, expenses that have been incurred, and profits or losses made during that time frame.
  • The Balance Sheet: The balance sheet is designed to list all of the items that the business owns and all of the items that it owes. This report is intended to show how much a company’s assets are worth when compared to its liabilities.
  • The Statement of Cash Flows: The cash flows statement details where a company got its cash from and where it went during an accounting period. Investors, creditors, and other stakeholders use this information to determine whether a company is likely to be profitable.

International Financial Reporting Standards (IFRS) are the set of rules that govern how public companies list their shares on exchanges. It is also used by privately held companies that intend to sell shares in an initial public offering (IPO). This standard has been adopted by all publicly traded companies in the European Union (EU) and many other countries around the world.

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Assignment Task 3: Understand, apply and critique a range of international accounting standards.

International Accounting Standards (IAS) were the set of rules that governed how public companies listed their shares on exchanges. These standards have been adopted by all publicly traded companies in the European Union and many other countries around the world.

In May 2008, International Financial Reporting Standards (IFRS) replaced IAS as the set of rules governing financial statements. The IFRS aims to provide a single set of high-quality, understandable, and enforceable global accounting standards. These are applied in most European countries, including all 27 member states of the European Union.

The International Accounting Standards Board (IASB) regulates IFRS while national financial authorities regulate local GAAPs. The IASB has recently released a Conceptual Framework that will provide the basis for all future standards and is working on projects to improve existing standards.

The IFRS aims to provide a single set of high-quality, understandable, and enforceable global accounting standards. These are applied in most European countries, including all 27 member states of the European Union.

Assignment Task 4: Construct appropriate accounts relating to the measurement and recognition of financial instruments.

Financial instruments are a company’s investments, such as stocks and bonds. When a company buys a financial instrument, that purchase is recorded in the company’s accounts. These records then show how much that investment is worth at any given time.

In most countries of the world, companies have to report their financial results based on International Financial Reporting Standards (IFRS). In the IFRS system, investments are usually classified as either at fair value through profit or loss (FVTPL), available for sale, or held to maturity.

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Assignment Task 5: Prepare consolidated financial statements to account for various business combination scenarios.

When a company decides to purchase another company, it is called either an acquisition or a merger. A parent company would like to acquire another company because it thinks doing so will increase its profits in the future. One of the most common types of corporate mergers is when one corporation purchases all the shares in another corporation. This type of acquisition is also called a 100 percent purchase or a control acquisition.

In most countries of the world, companies have to report their financial results based on International Financial Reporting Standards (IFRS). In the IFRS system, investments are usually classified as either at fair value through profit or loss (FVTPL), available for sale, or held to maturity.

Assignment Task 6: Critique the ethical considerations and current developments in financial reporting.

The ethical considerations around financial reports are complex. On one hand, businesses have a responsibility to shareholders to be transparent and honest about their performance. On the other hand, there is a temptation to fudge the numbers or present them in a way that makes the company look better than it is.

One recent development in this area is the use of “adjusted” earnings. This is when a company excludes certain expenses from its reported earnings, such as restructuring costs or bad debt expenses. By excluding these expenses, the company can make its earnings look better than they are.

The ethical considerations in financial reporting are vast and complex. Some of the most important issues include:

  • Transparency: Financial reports should be accurate and truthful, and provide a clear view of a company’s financial position.
  • Honesty: Financial reports should not be manipulated or falsified to present a misleading picture of the company’s finances.
  • Fairness: Financial reports should be equal for all investors, regardless of their size or level of involvement with the company.

There are also many current developments in financial reporting, including the increasing use of artificial intelligence and big data analytics. These technologies can help to improve transparency and accuracy, while also reducing the time required to produce financial reports. However, they also raise some concerns, such as the privacy of personal data and legal issues around algorithms. 

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The assignment example discussed above is based on BUU44530 Financial Reporting and Analysis.

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