International Financial Reporting

The details
Essex Business School
Colchester Campus
Postgraduate: Level 7
Monday 13 January 2025
Friday 21 March 2025
29 September 2023


Requisites for this module



Key module for

MSC N43112 International Accounting and Banking,
MACCN440 Accounting and Finance,
MACCN441 Accounting and Finance (Including Placement Year),
MACCN442 Accounting and Finance (Including Year Abroad)

Module description

The module commences with a comparative analysis of the development of national accounting systems. Next, the role of the International Accounting Standards Board (IASB) and its impact on financial reporting internationally will be examined in the context of perceived advantages and disadvantages of harmonization and standardization. Although the importance of the IASB is primarily seen in the context of capital markets, financial reporting in developing countries will also be considered in the module. As cases, financial reporting examples from North America, Europe, and Japan will be explored in-depth. Finally, the module considers some specific issues related to comparative international financial analysis.

Module aims

The aim of this module is to provide students with a critical understanding of current issues in international financial reporting.

Module learning outcomes

By the end of the module, students will be expected to be able to:

  1. Identify and evaluate the factors which help to explain differences in the main types of financial reporting system in use internationally. 

  2. Critically evaluate the role of the IASB in promoting international harmonization and standardization of financial reporting.

  3. Assess the benefits and costs associated with issues such as the increased harmonization of financial statements.

Skills for Your Professional Life (Transferable Skills) 

By the end of this module, students will be expected to develop or improve a set of transferable skills:

  1. Communication skills: the students’ verbal, written, and listening skills will be improved. With the current practice in academia due to the pandemic, students will learn to incorporate technology in communication.

  2. Critical thinking and analytical skills: the module requires students to understand the standard-setting environment and the role of different stakeholders in that. Also, students are required to read and analyse different publications, such as reports from standard-setting bodies and journal articles. This develops students’ analytical and thinking capabilities.

  3. Teamwork skills: the module requires students to work in teams to discuss different issues related to accounting standards. It develops students’ capacity to work in teams effectively.

  4. Creativity and leadership skills: the process of standard-setting is a complex issue that evolves over time and still requires significant improvement.

The discussions that the students will get involved in this module will allow them to think and conclude creatively on the development (or improvement) of the accounting standards. Combining teamwork, analytical, and communication skills, they will have an opportunity to emerge as leaders in providing opinions and managing a team. 

Module information

No additional information available.

Learning and teaching methods

This module will be delivered via:

  • One 2-hour teaching session per week.

Students are expected to study the appropriate readings and review the relevant class topics before the session. These sessions are an important element in developing a critical awareness of the financial reporting literature.


This module does not appear to have a published bibliography for this year.

Assessment items, weightings and deadlines

Coursework / exam Description Deadline Coursework weighting
Coursework   4,000 words coursework     100% 

Exam format definitions

  • Remote, open book: Your exam will take place remotely via an online learning platform. You may refer to any physical or electronic materials during the exam.
  • In-person, open book: Your exam will take place on campus under invigilation. You may refer to any physical materials such as paper study notes or a textbook during the exam. Electronic devices may not be used in the exam.
  • In-person, open book (restricted): The exam will take place on campus under invigilation. You may refer only to specific physical materials such as a named textbook during the exam. Permitted materials will be specified by your department. Electronic devices may not be used in the exam.
  • In-person, closed book: The exam will take place on campus under invigilation. You may not refer to any physical materials or electronic devices during the exam. There may be times when a paper dictionary, for example, may be permitted in an otherwise closed book exam. Any exceptions will be specified by your department.

Your department will provide further guidance before your exams.

Overall assessment

Coursework Exam
100% 0%


Coursework Exam
100% 0%
Module supervisor and teaching staff
Prof Pawan Adhikari, email:
Professor Pawan Adhikari & Dr Rafia Afrin



External examiner

Mr Ian Dewing
Available via Moodle
Of 419 hours, 20 (4.8%) hours available to students:
399 hours not recorded due to service coverage or fault;
0 hours not recorded due to opt-out by lecturer(s).


Further information
Essex Business School

* Please note: due to differing publication schedules, items marked with an asterisk (*) base their information upon the previous academic year.

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