Financial Accounting 1

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

• The underlying principles and regulations to various items within financial accounts;
• The regulatory framework surrounding financial reporting, including the value and limitations of statutory audit;
• The published financial reports of companies in different industries;
• The effects on financial results of management decisions, corporate transactions and the adoption of different accounting policies;
• Current controversies in financial accounting.

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

• Apply accounting principles and theories to current issues in financial accounting.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

• Communicate complex ideas and arguments fluently and effectively in a range of different formats to a variety of different audiences.
• Demonstrate numeracy and problem solving skills;

• Regulatory structure
• Audit
• Asset valuation
• Interpretation of accounts
• Consolidated accounts
• Selected topics in financial accounting such as revenue recognition, financial instruments.

Teaching and learning methods

The course will commence with a workshop revising assumed knowledge. The following six weeks will include a mix of lectures, discussion and exercises. Selected exercises will be used to provide formative feedback to students. Additional exercises and reading will be set for private study. The course will conclude with a revision workshop.

Resources & Reading list

Textbooks

Alexander, Britton, Jorissen, et al (2014). International Financial Reporting and Analysis. Cengage Learning.

Elliot & Elliot (2015). Financial Accounting and Reporting. Prentice Hall.

Holmes, Sugden and Gee (2008). Interpreting Company Reports and Accounts. FT Prentice Hall.

Formative

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

Summative

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

Referral

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

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.

Repeat Information

Repeat type: Internal & External