MANG2003 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 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.
Aims and Objectives
Module Aims
to introduce you 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.
Learning Outcomes
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:
- appreciate the principles behind the regulatory framework of financial reporting;
- prepare accounting statements following the rules of the regulatory framework;
- analyse and interpret sets of published financial statements;
- evaluate other significant accounting issues discussed during the module.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- demonstrate problem learning skills;
- interpret numerical data and address numerical problems more effectively;
- demonstrate effective written communication;
- participate in team work;
- develop organisational and time management skills.
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 |
|---|---|
| Lecture | 24 |
| Preparation for scheduled sessions | 114 |
| Seminar | 12 |
| Total study time | 150 |
Resources & Reading list
Barker, R (2011). Short introduction to Accounting.
John MCKeith and Bill Collins. Financial Accounting and Reporting.
Assessment
Formative
In-class activities
Summative
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 70% |
| Group report (3000 words) | 30% |
Repeat
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 100% |
Referral
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 100% |
Repeat Information
Repeat type: Internal & External
Linked modules
Pre-Requisites: MANG1001 and (MANG1007 or MANG1019 or ECON1005 or ECON1008)
Costs
Costs associated with this module
Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.
In addition to this, students registered for this module typically also have to pay for:
Textbooks
Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate.
Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the mandatory/additional reading text as appropriate. Each topic will be supplemented by readings and examples
Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.