MANG6030 Financial Accounting 1
Module Overview
Financial accounting relates to the measurement and recording of business transactions. It underlies the annual reports published by companies which shareholders and other stakeholder use to assess the past performance of the business and make decisions about the future. We will consider how these reports are prepared and the ways in which management might influence the recording and presentation of the underlying transactions.
Aims and Objectives
Module Aims
to build on the financial accounting knowledge you have acquired as a result of your undergraduate studies. You will study more advanced areas with a particular emphasis on those where controversy as to the appropriate treatment exists.
Learning Outcomes
Knowledge and Understanding
Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:
- how to apply the underlying principles and regulations to various items within financial accounts;
- how to evaluate the effects on financial results of management decisions, corporate transactions and of the adoption of different accounting policies;
- how to analyse and interpret the published financial reports of companies in different industries;
- the regulatory framework surrounding financial reporting, including the value and limitations of the statutory audit;
- how to critically debate current controversies in financial reporting.
Subject Specific Intellectual and Research Skills
Having successfully completed this module you will be able to:
- demonstrate what you have learned both by application to numerical data and in written form.
Transferable and Generic Skills
Having successfully completed this module you will be able to:
- demonstrate learning skills, to include numeracy and problem solving skills;
- demonstrate written communication skills.
Syllabus
• Regulatory structure • Audit • Asset valuation • Interpretation of accounts • Consolidated accounts • Selected topics in financial accounting such as revenue recognition, financial instruments.
Learning and Teaching
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.
| Type | Hours |
|---|---|
| Independent Study | 118 |
| Teaching | 32 |
| Total study time | 150 |
Resources & Reading list
Holmes, Sugden and Gee (2008). Interpreting Company Reports and Accounts.
Alexander, Britton, Jorissen, et al (2014). International Financial Reporting and Analysis.
Elliot & Elliot (2015). Financial Accounting and Reporting.
Assessment
Formative
Set exercises - practical exam
Summative
| Method | Percentage contribution |
|---|---|
| Examination (3 hours) | 100% |
Repeat
| Method | Percentage contribution |
|---|---|
| Examination (3 hours) | 100% |
Referral
| Method | Percentage contribution |
|---|---|
| Examination (3 hours) | 100% |
Repeat Information
Repeat type: Internal & External
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:
Books and Stationery equipment
A detailed book list will be issued at the start of the course, and further reading provided on a weekly basis. We therefore advise you not to purchase any books until after the first lecture.
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.
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.