Financial Accounting 2 | MANG2003 | University of Southampton

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:

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

Transferable and Generic Skills

Having successfully completed this module you will be able to:

demonstrate effective written communication;
interpret numerical data and address numerical problems more effectively;
develop organisational and time management skills.
demonstrate problem learning skills;
participate in team work;

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.

Study time
Type	Hours
Seminar	12
Preparation for scheduled sessions	114
Lecture	24
Total study time	150

Resources & Reading list

Textbooks

Barker, R (2011). Short introduction to Accounting. Cambridge University Press.

John MCKeith and Bill Collins. Financial Accounting and Reporting.

Assessment

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Written assessment In-class activities

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
Method	Percentage contribution
Group Coursework	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
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.

Breakdown
Method	Percentage contribution
Written assessment	100%

Repeat Information

Repeat type: Internal & External