MANG3003 Financial Accounting 3
Module Overview
It is a continuation module from financial accounting 2. Students will be exposed to more advanced knowledge of accounting such as consolidated group financial statements, financial instruments and share based payment.
Aims and Objectives
Module Aims
The module is intended to introduce you to the underlying conceptual basis of corporate financial reporting in the United Kingdom, through the study of specific problem areas that have involved the need for accounting regulation.
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- Current issues and possible future directions for financial reporting.
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- Summarise, analyse and evaluate relevant accounting standards and other regulations;
- Apply accounting ideas, concepts and methods to specific financial reporting problems;
- Illustrate the effect of accounting policy choice on financial statements through calculation and discussion;
- Prepare consolidated financial statements for simple groups.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- Communicate better in written form;
- Interpret numerical data and address numerical problems more effectively.
Syllabus
• Theories of financial reporting; the supply of and demand for financial reporting; fundamental principles for financial accounting. • Problem areas in financial reporting, including leasing and other special purpose transactions, revenue recognition, share based payments, financial instruments. • Group accounts.
Learning and Teaching
Teaching and learning methods
Teaching methods include: • Lectures • Seminars • Workshops Learning activities include: • Assessed learning tasks: written report (see below) • Directed reading • Independent study including undirected reading and computational practice
| Type | Hours |
|---|---|
| Seminar | 2 |
| Preparation for scheduled sessions | 25 |
| Revision | 25 |
| Wider reading or practice | 16 |
| Follow-up work | 30 |
| Lecture | 20 |
| Completion of assessment task | 20 |
| Tutorial | 12 |
| Total study time | 150 |
Resources & Reading list
Alexander, Britton and Jorissen. International Financial Reporting and Analysis.
Assessment
Formative
Set exercises - non-exam
Summative
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 70% |
| Individual assignment (2500 words) | 30% |
Repeat
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 70% |
| Individual assignment (2500 words) | 30% |
Referral
| Method | Percentage contribution |
|---|---|
| Examination (2.5 hours) | 100% |
Repeat Information
Repeat type: Internal & External
Linked modules
Pre-requisite: MANG2003, Financial Accounting 2
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 core/recommended text as appropriate.
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.