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 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.
Linked modules
Pre-Requisites: (MANG1046 or MANG1004) and (MANG1044 or MANG1025)
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- evaluate other significant accounting issues discussed during the module.
- prepare accounting statements following the rules of the regulatory framework;
- analyse and interpret sets of published financial statements;
- appreciate the principles behind the regulatory framework of financial reporting;
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how to 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:
- Demonstrate effective written communication.
- Collaborate and plan as part of a team, to carry out roles allocated by the team and take the lead where appropriate, and to fulfil agreed responsibilities.
- Interpret numerical data and address numerical problems more effectively.
- Demonstrate problem learning skills.
- Develop organisational and time management skills.
Syllabus
- Financial Accounting Objectives
- Conceptual Framework, Accounting and Reporting Standards
- Analysis and Interpretation of Accounts (in the context of writing a report for investors and using appropriate databases and other sources)
- Cash flow statements
- Property, plant and equipment: Revaluation Method
- Intangible Assets
- Impairment of Assets
- Provisions, Contingent Assets and Liabilities
- Events after the Reporting Period
- Capital and Dividends, Rights and Bonus Issues
- Capital Maintenance
- Deferred Taxation
- Accounting Policies, Changes in Estimates and Errors
Learning and Teaching
Teaching and learning methods
The module consists of 24 hours of lectures. In addition, all students are expected to attend 10 classes, one each week. There will be a group report, which forms part of the assignment. In addition students should expect to perform 6-7 hours per week of private study.
Type | Hours |
---|---|
Lecture | 24 |
Seminar | 10 |
Preparation for scheduled sessions | 114 |
Total study time | 148 |
Resources & Reading list
Textbooks
Barry Elliott; Jamie Elliot (2022). Financial Accounting and Reporting. Hoboken, NJ: Pearson.
John McKeith and Bill Collins (2013). Financial Accounting and Reporting (Archive copy is available). New York; London: McGraw-Hill Higher Education.
Alan Melville (2022). International Financial Reporting: A practical guide. Harlow, England ; New York: Pearson.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
In-class activities
- Assessment Type: Formative
- Feedback: You will receive verbal feedback both individually and in groups.
- Final Assessment: No
- Group Work: No
Summative
This is how we’ll formally assess what you have learned in this module.
Method | Percentage contribution |
---|---|
Examination | 70% |
Group report | 30% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
Method | Percentage contribution |
---|---|
Examination | 100% |
Repeat
An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.
Method | Percentage contribution |
---|---|
Examination | 100% |
Repeat Information
Repeat type: Internal & External