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.
Linked modules
Pre-Requisites: (MANG1001 or MANG1025) and (MANG1007 or MANG1019 or ECON1005 or ECON1008)
Aims and Objectives
Learning Outcomes
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- 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.
- prepare accounting statements following the rules of the regulatory framework;
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- demonstrate problem learning skills;
- demonstrate effective written communication;
- participate in team work;
- develop organisational and time management skills.
- interpret numerical data and address numerical problems more effectively;
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.
Syllabus
- Financial Accounting objectives;
- Accounting regulation and standards
- Analysis and interpretation
- Property, plant and equipment
- Intangibles
- Impairment of assets
- 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 report, which forms part of the assignment. In addition students should expect to perform 6-7 hours per week of private study.
| Type | Hours |
|---|---|
| Seminar | 12 |
| Lecture | 24 |
| Preparation for scheduled sessions | 114 |
| Total study time | 150 |
Resources & Reading list
Textbooks
John MCKeith and Bill Collins. Financial Accounting and Reporting.
Barker, R (2011). Short introduction to Accounting. Cambridge University Press.
Assessment
Formative
This is how we’ll give you feedback as you are learning. It is not a formal test or exam.
In-class activitiesSummative
This is how we’ll formally assess what you have learned in this module.
| Method | Percentage contribution |
|---|---|
| Written assessment | 100% |
Referral
This is how we’ll assess you if you don’t meet the criteria to pass this module.
| Method | Percentage contribution |
|---|---|
| Written assessment | 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 |
|---|---|
| Written assessment | 100% |
Repeat Information
Repeat type: Internal & External