The University of Southampton

MANG6031 Financial Accounting 2

Module Overview

The module builds on MANG6030 Financial Accounting 1 and exposes students to various accounting theories and approaches to further their understanding of accounting developments nationally (UK) and internationally. The module also exposes students to some of the complex and current issues related to accounting measurements, employee benefits, financial instruments and group accounts.

Aims and Objectives

Module Aims

- the principal theoretical approaches to understanding financial accounting and reporting. - the application of these issues in dealing with current issues in financial reporting. - the regulatory structure of financial reporting and the role of corporate governance.

Learning Outcomes

Knowledge and Understanding

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

  • Explain and comment critically on the main features of the financial reporting environment in the United Kingdom and internationally;
  • Explain and critically evaluate accounting principles and conceptual frameworks;
  • Demonstrate an understanding of and critically evaluate theories of financial accounting and reporting.
  • Explain the role of corporate governance mechanisms and their impact on financial accounting and reporting
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • an ability to solve complex problems.
  • written and oral communication skills
  • an ability to critically evaluate concepts and practices.
  • numeracy skills
  • an ability to work effectively in teams.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • Explain, apply and critically evaluate a range of accounting approaches to measuring financial position and performance;
  • apply accounting principles and theories to current issues in financial reporting.


• The role of theory in understanding financial accounting and reporting practices • The development of financial reporting theories • Accounting principles and conceptual frameworks • The financial reporting and corporate governance environment in the United Kingdom • Alternative ways of measuring financial position and performance • Current issues in financial reporting

Learning and Teaching

Teaching and learning methods

• Lectures • Classes/seminars covering exercises / lecture/seminar materials previously distributed to students

Independent Study126
Total study time150

Resources & Reading list

B. Elliott & J. Elliott. Financial Accounting and Reporting. 

D. Alexander, A. Britton & A. Jorissen. International Financial Reporting and Analysis. 

A. Riahi-Belkaoui (2004). Accounting Theory. 

W. H. Beaver (1998). Financial Reporting: An Accounting Revolution. 

C. Deegan (2009). Financial Accounting Theory. 



Set exercises - non-exam


MethodPercentage contribution
Examination  (2 hours) 70%
Group Assignment  (2500 words) 30%


MethodPercentage contribution
Examination  (2 hours) 100%


MethodPercentage contribution
Examination  (2 hours) 100%
Share this module Facebook Google+ Twitter Weibo

We use cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we will assume that you are happy to receive cookies on the University of Southampton website.