The University of Southampton

MANG2003 Financial Accounting 2

Module Overview

The module is intended to introduce students to regulation in financial reporting and to examine specific problem areas using a conceptual framework as a basis of the analysis. This allows an evaluation of current external reporting practice within the context of accounting theory. This will involve an examination of the regulatory framework of financial reporting, i.e. UK and EU company law, the UK Accounting Standards Board and the International Accounting Standards Board. Significant accounting issues which have been the subject of legislation or accounting standards will be analysed.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • demonstrate knowledge of the principles behind the regulatory framework of financial reporting;
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • learning;
  • problem-solving;
  • numeracy;
  • written communication;
  • team work
  • self-management.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • appreciate the principles behind the regulatory framework of financial reporting;
  • prepare accounting statements following the rules of the regulatory framework;
  • analyse and interpret sets of published financial statements;
  • evaluate other significant accounting issues discussed during the module.


• Financial Accounting objectives; • Accounting regulation and standards • Analysis and interpretation • Property, plant and equipment • Intangibles • Impairment of assets • Revenue recognitions • Contingent Liabilities • Deferred Taxation • Cash flow statements • Issued capital and dividends

Learning and Teaching

Teaching and learning methods

The module consists of 22 hours of lectures. In addition, all students are expected to attend 11 classes, one each week. There will be a group case study, which forms part of the assignment. In addition students should expect to perform 6 - 7 hours per week of private study.

Preparation for scheduled sessions114
Total study time150

Resources & Reading list

John MCKeith and Bill Collins. Financial Accounting and Reporting. 

Barker, R (2011). Short introduction to Accounting. 





MethodPercentage contribution
Examination  (2.5 hours) 70%
Group Assignment  (3000 words) 30%


MethodPercentage contribution
Examination  (2.5 hours) 100%
Examination  (2.5 hours) 100%

Linked modules

Prerequisites: MANG1001 and MANG1007 (or MANG1019)

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