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 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

Transferable and Generic Skills

Having successfully completed this module you will be able to:

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.
Demonstrate problem learning skills.
Demonstrate effective written communication.
Interpret numerical data and address numerical problems more effectively.
Develop organisational and time management skills.

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.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

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;
evaluate other significant accounting issues discussed during the module.

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.

Study time
Type	Hours
Preparation for scheduled sessions	114
Seminar	10
Lecture	24
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.

Breakdown
Method	Percentage contribution
Group report	30%
Examination	70%

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Breakdown
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.

Breakdown
Method	Percentage contribution
Examination	100%

Repeat Information

Repeat type: Internal & External